Posted by Deseree Wynne on 12/2/10 4:56pm
Msg #363660

E-Notarizations...

is the signing agent industry headed more in this direction? I really would like to find out more about this, the only info I have found is ENJOA (NNA), but I read that they have pulled their equipment and everything headed online. Any thoughts???

Reply by dickb/wi on 12/2/10 5:10pm
Msg #363663

probably to some degree, however it is a state allowable thing......i think it may be a while before u get 50 states to approve it.......then u need a registered electronic seal....a few hurdles yet...

Reply by Linda_H/FL on 12/2/10 5:21pm
Msg #363664

Re: E-Notarizations...need to also realize

there's a big difference between e-notarizations, ENJOA (an electronic *journal*) and e-signings (signings on a computer and what SA's would more likely be involved in)...then there's e-recording...

In 4.5 years here in FL I've never been asked to do an e-notarization, have only been asked twice about e-signings, do not use an electronic journal, and only a few counties in FL are set up for e-recordings (as opposed to old-fashioned paper docs being recorded)...

Reply by aries/CA on 12/2/10 5:43pm
Msg #363668

Re: E-Notarizations...need to also realize

I did a few esignings this year from AmTrust. I don't have a laptop, so I got to use the BO's and save it on whatever they wanted, either desk top or disc. The signing company was very helpful, since I had never done one. You still have to print some documents but not a lot and was done in 20 minutes. I don't mind doing those at all.

Reply by Linda_H/FL on 12/2/10 5:45pm
Msg #363669

Re: E-Notarizations...need to also realize

20 minutes?? Yeesh....takes me that long to set up, complete ID info in journal and on ID forms and get everyone needed at the table~!!

How in the world do you do a concise, comprehensive and thorough signing in 20 minutes??

Reply by Yoli/CA on 12/2/10 6:01pm
Msg #363673

Re: E-Notarizations...need to also realize

Totally agree with you, Linda. Like you say, there's the journal, the various "wet-sign" docs and then the e-sign docs.

Reply by CapCityAgent on 12/3/10 12:54pm
Msg #363785

Re: E-Notarizations...need to also realize

I have performed a couple of partial e-signings this year too. Each time it took me almost twice as long as a regular hardcopy signing (1hr to 1hr:30 mins). However, in rare circumstances such as the number of documents in the package, the package consisting of all e-signing (not partial hardcopy and partial e-signing), all the information being correct and accurate and whether or not the borrower has refi before, you may be able to complete a comprehensive e-signing in 20 minutes. I like it when the borrower says, "Let me see the HUD1 first and my payments and interest rate." I know it's going to be a quick closing because these are the kind of borrowers that be rushing me through. LOL

Reply by MichiganAl on 12/2/10 5:51pm
Msg #363670

Well, the NNA wants you to believe we're heading in that direction. More books, more training, more products to sell! I'm not seeing it. I've been hearing for years about how we should prepare for the onslaught, but so far it's been a nothing but a faucet drip. They're such a pain that I think lenders leery about going forward until the process becomes smoother. Title companies don't seem to like dealing with it, signing agents don't like it, and the borrowers don't like it.

Reply by Deseree Wynne on 12/2/10 6:50pm
Msg #363682

I tend to agree with you MichiganAl. And thanks everyone for your input on the differences between esiginings and enotarization. I wanna go back to the days when the docs were delivered to us via UPS or Fed Ex and we just take them to the borrowers

Reply by jba/fl on 12/2/10 6:55pm
Msg #363683

I think those days are gone....very gone. n/m

Reply by Deseree Wynne on 12/2/10 8:10pm
Msg #363693

Re: I think those days are gone....very gone.

I know! I was having flashbacks!!! LOL

Reply by PAW on 12/2/10 7:24pm
Msg #363686

A good write up on e-notarization and e-signings by Gerry Ashton can be found at http://www.pawnotary.com/kb/1-2.html