Amrock Leads the Industry in Digital Closings and eNotes
January 27, 2021
Good news for our clients, partners and mother nature: In 2020, Amrock more than doubled its number of digital closings and eNotes! While last year’s popularity boom of digital closings was clearly accelerated by the COVID-19 pandemic, we believe this industry-wide trend is here to stay thanks to the widespread adoption and client demand.
What makes “going digital” the future of FinTech? In addition to a safer closing environment, by reducing manual steps in the closing process, digital closings provide clients with a more efficient, consistent and simpler journey to their financial goals.
“Amrock is focused on providing our signing agent and mortgage lender partners the best process for the clients they serve. That means using technology to make the mortgage closing safer, more secure, more accurate and easier for everyone involved,” said Brian Hughes, CEO of Amrock.
Our network of over 4,600 signing agents and attorney partners across the United States are fully trained and prepared to use the latest technology to streamline the closing process according to Federal Housing Administration (FHA) policy, allowing clients to sign most of their paperwork from the comfort of their own homes. At the end of the process, all of those involved in the transaction receive electronic versions of the paperwork.
“We have gone all-in on digital closings and we are glad to see clients benefitting from our technology for a better closing experience,”said Hughes. “We will continue to promote the expansion of digital closings nationwide and we look forward to digitizing more and more of the home loan process.”
Currently, there are three types of digital closings: In-Person Hybrid, In-Person Electronic Notarization (IPEN) and Remote Online Notarization (RON). Both In-Person Hybrid and IPEN include an in-person meeting with some or all of the documents digitally signed. Clients in IPEN-eligible (and active) states can digitally sign all documents while the notary is present, drastically reducing the likelihood of delays caused by missed signatures.
For a completely virtual closing experience, RON involves a remote, real-time, two-way audio-visual call in which documents are all digitally signed and notarized. This means clients in RON-eligible states can complete their closing virtually anywhere there is an internet connection, with their signing agent in a separate location.
Which type of digital closing is right for you? Reach out to an Amrock expert to learn more.