It's come to Oklahoma. Our legislature has been reviewing the special interest-initiated Remote Online Notarization, or RON, bills across the nation. This is an extension of eNotarization to cover what I call Skype closings.
The Oklahoma legislative session is winding down, and I haven't checked to see where this bill stands, but I tried to inform my representatives that they may want to look hard at the potential consequences of passing it. Not the least of which is that the main players with this process will be banks and mortgage entities who have the bucks to set up the required equipment, security and procedures.
I recall the big bank that got it's hand slapped several years ago for having a roomful of notaries conveyor-belt stamping closing documents. What could possibly go wrong with everything being online? Surely no opportunity for hacking. But it's a "convenience" for their clients, right? |
