... <<The closing was completed at the office of Florida Mortgage Firm.>>
So unless the borrower picked that site as their No. 1 desirable closing location (highly unlikely) and also picked the time, then all their hooie about no more taking time off work to sign docs and everything done at the borrower's convenience is exactly that. This was just like every other signing where they told the borrower to show up during FMF's working hours.
However, you also gave insight on how this might work: the borrower stays home, logs into Notarize, which then alerts the VA e-notary to get to work, and badabing, closing's done. Borrowers are charged $1,000 or more (just a guess) for this ultra convenient service and everybody makes big money, which is what this is all about, of course. I can see the advantages to lender and title: no more dealing with pesky notaries, many of whom don't know what they're doing and thus necessitating re-signings, no more dealing with corrupt SSs and fielding calls from unpaid NSAs, no more dealing with any SS, no more cutting checks to notaries, no more hefty courier fees to UPS and Fed Ex (unless nonnotarized docs are returned that way). This is all becoming clearer.... . As far as if borrowers have questions, I dunno how that would be handled. |
