Electronic Mortgage in the Works

Nationwide signing service NotaryPro is dedicated to getting loan documents signed on time and accurately. One way they have improved this goal is to have a completely electronic notarization and mortgage closing with e-recording, the first in the history of the company. The business successfully automated the document signing process, making way for a completely electronic closing. Digasign, an electronic notarization and closing software by the World Wide Notary, was used for the first ever electronic closing of a home equity mortgage. The parent company, Secured Funding, officially filed the warranty deed and security agreement with Orange County, California by electronic file as well.

A biometric pad transports a borrower’s signature, initials and acknowledgements and sends them electronically to be filed on the e-documents. It then inserts the proper authority to the entire package of documents, eradicating missed signatures which can hold up filing or funding. The software then electronically notarizes the package; the entire process cuts closing time to a third traditional paper closings, as well as taking away the chance of human error.