Borrowers will be emailed non-notarized docs that they sign online. That’s free for the TC. Webcam companies will only deal with docs to be notarized. They make NO money on any doc that doesn’t need notarizing, therefore, their notaries will be told to steer clear of non-notarized docs. It’s a waste of their time to deal with borrower questions, and the “This isn’t the interest rate they promised me, I’m not signing anything!”. Talk about point and sign.....the webcam notary would expect to just flip thru pages in rapid succession as the borrower signs. Then the borrower starts complaining that the notary is going too fast thru the docs. Now, borrower wants to read every doc. Webcam company allowing that time to be wasted on a reader borrower? Heck no. What will they do with any reader borrower who hasn’t previewed the docs ahead of time? Let em’ read the screen while the webcam notary sits there? Heck no. NO webcam NSAs....the TC isn’t paying for it, nor are the webcam companies losing money over it.
I do believe electronic signings will increase, but the webcam loan signings?? Webcam company will LOSE money, not make money. The USA will become cashless and checkless before the webcam NSA is the norm. |
