DocMagic, a digital mortgage services provider, and risk reporting firm Secure Insight have teamed up to create a database of certified remote online notarization (RON) providers.
Through the partnership, the companies will offer a centralized training program on RON technology and processes – establishing a database of notaries that have been fully trained and certified on DocMagic’s Total eClose platform.
Dominic Iannitti, president and CEO of DocMagic, claims that the program will enable lenders to hire well-qualified eNotarization professionals who can ensure deals close smoothly and on time.
“Ultimately, this partnership creates a better RON process for lenders and borrowers alike, benefiting all users involved in the eClosing process,” Iannitti said. “Lenders are operating at maximum capacity right now with an influx of mortgage applications that they must ultimately close on as efficiently as possible amid heavy loan volume. Our new certification process will ensure lenders that RON eClosings will be handled quickly and efficiently by a ready supply of proficient eNotaries.”
“One of the primary challenges in facilitating RON transactions is that lenders are hesitant to entrust the closing process with a notary that may be ill-equipped to effectively perform an eClose transaction,” said Secure Insight CEO Andrew Liput. “Teaming with DocMagic allows us to identify properly licensed, experienced, and trained professionals whom lenders will feel comfortable leveraging to perform the specialized functions surrounding these unique transactions.”