… as to the future of the mortgage business going virtual. Frankly, I think it already has. You apply on line, underwriters take a look-see, docs are produced. Badabing badaboom. What LO?
But before certain posters continue to punish the messenger, let me draw attention to a similar recent post from MW/VA which brought up the same point. (I'm sure it was just an oversight why MW wasn't invited to take her post to Leisure, too). She posted << .... Some (closings) are choosing to become completely electronic (electronic notarizations, etc.) to prepare for the inevitable future of this biz. >>
Coming from VA where remote notarization got its start (and it's spreading like wildfire among state legislatures), Marilyn really got me thinking about how traditional notaries will become obsolete when it comes to loan closings. This goes beyond the face-to-face e-notarizations MW was referring to. These remote notary people aren't fooling around, spending gazillions of dollars pushing their soon-to-be highly profitable agenda through the states. It's only a matter of time before remote NPs will witness signings of recordable documents through an electronic platform, if they aren't already. Obviously, some find this boring and others would rather crap on the messenger. Have fun. As for the rest of us, remote notarization has not got much attention on NR, imo. Most of us (me included) sat by while e-platforms emerged (currently multiplying like the flu virus), along with other automation, while we were plodding along thinking it would be business as usual forever. I can guarantee that similar automation schemes are in the works right now that likely none of us has any idea what they're about but which will eventually reduce the mobile loan signing business as we know it to rubble. Others posted about this last year, as well. (Hmmm. Why weren't they invited to take it to Leisure?) I know the truth is hard to take but to punish the messenger is just infantile.
As to LJCA, great post!, but (hope I'm not off base here) seems to me you need to get set up with the SOS to do e-notarizations. As far as I know, Los Angeles County and several others in CA are onboard with e-notarized docs. It's remote notarizations that CA prohibits at this point. I'm not an expert on this, but it seems anyone can sign up with Pavaso and get e-notarization training. (At least for Amrock, but they can't be Pavaso's only clients (?).) I would love for you to research this and let us know what you find out.
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