Remote Online Notarization is Easier Than You Think

BNN Services is leading the charge in Remote Online Notarization (RON), a process by which documents can be signed and notarized by a commissioned notary public/signing agent remotely in real-time via a video connection.

RON is a big deal. Consumers can complete real estate closings online in as little as 30 minutes, saving thousands of dollars in travel if buying out of state and shaving days off the transaction previously slowed down by snail-mail shipping times. And it’s also more secure.

Is RON Secure?

Before we go into what RON is and if it’s available in your state, first we’d like to cover the elephant in the room: Are online notarizations safe?

The short answer is yes, but as with everything new, online notarizations just make people nervous. A good analogy is Uber and Airbnb. Many people’s first reaction to both these disruptive platforms was, “Weird, I don’t want to get in a stranger’s car/stay in a stranger’s house.” But in reality, thanks to the technology backing both platforms, they’re actually more secure than a cab ride or a stay in a hotel. Everything is documented.

The same is true of RONs. They’re actually more secure than traditional notarizations; identity verification is done with a combination of ID capture and knowledge-based authentication, and the entire authentication process is recorded and saved in the notary’s electronic journal along with the notarized documents.

What can BNNServices do for your title company?

BNNServices is integrated with RON platforms, meaning that it’s easier than ever for you to begin having your clients close transactions online.

• You can significantly cut costs and close more transactions in isolated, rural areas
• You can close a transaction when the buyer or seller is out of the country, as we recently did when a buyer was relaxing on a beach in Colombia.
• You can use RON rather than hiring two notaries when there are two buyers but they’re in different states.

And this doesn’t even scratch the surface. Set up a time to discuss the opportunities you can seize with RON and the challenges it can help you overcome.

The Nuts and Bolts of a RON Transaction

1. The business, typically a lender, uploads the documents that need to be signed and notarized to a RON platform, which sends a notice to the signer. This is the typical scenario, but BNNServices has solutions to assist when the lender does not have access to a RON platform.
2. The signer logs into the website or platform and begins the authentication process.
3. The notary receives an alert that the signer has accessed the website and joins the signer to complete the authentication process via webcam in a recorded session.
4. The signer completes any required signatures and the notary performs an electronic notarization of the documents.
5. Copies of the executed documents are sent to the lender and the signer.
6. The audio-visual recording of the authentication process is saved in the notary’s electronic journal along with the notarized documents.

Can You Start Notarizing and Closing Online?

Anyone in any state — anywhere in the world actually — can have documents notarized online so long as an underwriter will insure the transaction and the county clerk will accept eRecorded documents. The consumer will need a Social Security Number, a recent address, and device with video conferencing capabilities, i.e. a webcam.

What matters most is the location of the transaction. So although Georgia has not passed a RON Law, someone living in Georgia could purchase a home in Virginia and sign documents via a Remote Online Notarization by using a signing service like BNNServices.

Conversely, if someone in Virginia purchased a home in Georgia, they could not sign documents and have them notarized online because Georgia does not have a RON Law on the books.

States where Remote Online Notarization is Available

• Minnesota
• Missouri
• Nevada
• North Dakota
• Ohio
• South Dakota
• Tennessee
• Texas
• Virginia

RON Laws in Effect, Rules Not Finalized

• Idaho
• Michigan
• Vermont

RON Laws Scheduled to Take Effect in 2020
Effective January 2020

• Florida
• Idaho
• Kentucky
• Oklahoma

Effective July 1, 2020

• Arizona
• Iowa
• Nevada

Effective October 1, 2020

• Maryland
• Washington

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!