Interesting article, however, none of the fraud is due to RON. As much as I don't like it, it's here, and only a matter of time. Title companies here like it for processing and closing their own loans quickly and easily, the buyer is already used to signing and sending documents online via doc-u-sign and used to their processor. For the most part, I find Fidelity offers that option 1st to its signers and they do it themselves, then in office closings, and then for us to go remote. That's the pecking order.
CA may hold out, but it's inevitable that a majority of the states are doing it, and they will too.
Most of the fraud on our market is wire fraud, misrepresentation of the home, application fraud, phishing, hacking, and spoofing schemes. Nowhere did it mention RON. I wish it were the case so we keep our careers as is, but it hasn't happened so far for the millions of loans closed nationwide using it. |
