Except the borrowers? Does all this come to them? If so, then somebody had to go to meet them ...
The press release was your typical press release, full of foam and short on facts. I'd like to know where is the borrower in all this, physically. Where exactly is his/her patootie seated?
Press release reads: <<This transaction was a key breakthrough in providing our clients the option of a fully digital remote closing at the time and location of their choosing.">>
What if I choose the Knotty Pine Motel off County Road 65 in Podunk, Kansas, at 11 pm?
The press release also said : ..."The days of long drives to title offices, scheduling time off work for the sole purpose of signing docs ... will soon be a distant memory."
In my experience, 99% of borrowers never "take time off work" to sign docs. They make us come at the crack of dawn so they can get on their way to work or meet them on their lunch hour, or schedule mostly after work. After dinner, after the kids are in bed, etc. I can't remember the last time someone actually took off work to sign docs. Oh yeah, that's right, to drive to a title office during TC work hours because the TC/lender was too cheap to hire a mobile notary, and when did a TC ever give a hoot about anyone's convenience, but that's another story.
And, BTW: who's making the huge money in this? Despite the fact I don't know anything about this at least I know $$$ is what this is all about. Running a bunch of pesky NSAs off the planet, most of whom are now making scratch feed anyway can't possibly be the reason. But the paper and ink industry will take a big hit. There's big money in this for somebody. Wonder how much Notarize made? Wonder where the NNA is in all this? With only a handful of notaries in some webcam state needed to handle all the hundreds of thousands of closings, the NNA will go broke without income from background checks, silly testing, stamps, journals, etc.
Just wondering what I'm missing...?
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