All that's true. Also, the whole process can be brought into the title company's computer flow. No more pouring over the returned documents to make sure all the initials and signatures are done, all the dates are written in, etc.
On the other hand, the title companies' computer systems aren't even fully up to the task on paper closings. If the property and the notary are in the same state, they can put the kind of ack certificate that's traditional for that state on the mortgage, but the other docs will usually have something else, often a CA-style ack. And if the signing takes place in a state that's different from the property location all bets are off. Not to mention not always writing the signer's name the same way on all the docs.
When I took Pavaso's class (for free) it looked like it would be possible for the notary to edit the ack. If that wasn't possible, and the title companies don't upgrade their software, I'd have to refuse to notarize 99% of the time. |