A traditional notarization entails the physical presence of the signer(s) and the notary and paper documents with “wet” signatures and an ink impression of the notary’s seal or stamp. A lot has changed. Remote Online Notarization (RON) is big news in the title industry, and rightly so. But it’s just one way that a digital notary service like BNNServices can close loans.

There’s a lot of confusion in the industry right now, and this blog will bring some much-needed clarity.

 

Digitizing the Notarial Act 

The notarial act can be performed in three different ways: RON, Hybrid and IPEN. Each involves different technology and has different requirements. Wherever your organization and your clients are at, BNNServices has you covered.

We are integrated with RON platforms and can help your clients close transactions online. Contact us and we can work together to determine which of the three solutions below is best for you. 

 

Remote Online Notarization

RON — sometimes called a webcam notarization, online notarization or virtual notarization — 

is the use of audio/visual technology to complete a notarial act when the principal is not in the same physical location as the notary public. The documents are electronic. The signer and notary sign digitally, and the notary affixes a digital seal.

 

RON can be incredibly valuable for your title business, allowing you to:

  • Reduce costs and close more transactions in isolated, rural areas
  • Close a transaction when the buyer or seller is out of the country
  • Hire one notary when there are two buyers and they’re in different states

 

RON is the future, but it’s not the present. Many consumers just aren’t prepared, technologically or emotionally, to have their sensitive documents notarized remotely. 

 

Hybrid Signings

Hybrid signings, also called eClosings, require the physical presence of the notary and signer and entail a combination of wet and digital signatures. Consumers can sign nearly all loan documents digitally while several must be hand-signed in the presence of the notary.

Hybrid signings offer many of the same advantages as a RON — cost savings, better security, authenticity, and document integrity — but require far less technology.

 

IPEN Signings

An IPEN (In-Person Electronic Notarization), sometimes called an eNotarization, means the consumer signs all loan documents in the presence of the notary on a mobile tablet or laptop. An IPEN signing is similar to a hybrid closing, but there are no wet signatures. IPEN signings are less susceptible to delays and mistakes because the closing package cannot be submitted unless all the signatures are completed.

 

A Better Way to Close with BNNServices

Since 2008, BNNServices has been trusted by title agencies, mortgage lenders, servicers and consumers to perform loan and document signings in multiple languages across the country. 

Unlike other signing services, BNNServices “touches” each and every file 8 or 9 times to ensure the process moves forward free of delays. That’s why we’ve completed over 250,000 signings in all 51 jurisdictions and maintained a closing ratio of 96 percent. 

 

Ready to experience the BNNServices difference? Get started today!