MBA and ALTA are collaborating to make it easier for states to accept remote online notarizations
NEWPORT BEACH, Calif., Sept. 27, 2018 - DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, and NotaryCam®, the leader in online notarization solutions, announced an integration that eliminates the need to wet-sign loan documents in the physical presence of a notary by allowing loan documents to be quickly and compliantly eNotarized online.
The integration works inside Total eClose™, DocMagic’s comprehensive end-to-end eClosing solution. It allows customers to initiate eNotarizations using NotaryCam’s remote service with just a few clicks, thus extending the convenience of a fully online eClosing experience through notarization – the final step in loan closing — without any hard stops or papering out.
“More and more states are permitting remote online notarization and as they do, we can expect to see consumer demand and expectation for remote eNotarizations to grow,” said Dominic Iannitti, president and CEO of DocMagic. “This integration allows DocMagic customers to meet consumer demand without any delays, which is a big part of our value proposition for all DocMagic products.”
The Mortgage Bankers Association has been collaborating with the American Land Title Association (ALTA) to prepare model legislation that would provide a framework for any state to adopt remote online notarization processes.
“Mortgage eClosings have progressed incrementally, and both DocMagic and NotaryCam have been pioneers and champions in the adoption the industry has achieved—so this integration is a natural fit,” said Rick Triola, founder and CEO of NotaryCam. “Our companies are very similar in what we deliver: the industry’s most flexible and customer-friendly experiences, backed by unfaltering accuracy, data integrity and compliance. We are looking forward to moving the industry forward, together.”
Prior to the addition of NotaryCam, DocMagic’s Total eClose solution supported eNotarizations by leveraging in-person notaries equipped with electronic notary signing technology, which it will continue to offer in addition to remote online notarizations, where permitted. Both DocMagic and NotaryCam are approved eMortgage technology vendors with the GSEs, having passed an extensive approval process.
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company’s compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit https://www.docmagic.com/.
NotaryCam is the leader in online notarization and mortgage eClosing solutions. After pioneering the world’s first entirely online mortgage closing in 2012, career real estate executive Rick Triola founded NotaryCam in 2014. NotaryCam has since helped hundreds of thousands of customers get documents notarized online from anywhere in the world while maintaining the industry’s highest customer satisfaction rating. NotaryCam’s patented eClose360 platform facilitates 100%-online mortgage closings and provides unparalleled identity verification, security and customer convenience. Visit https://www.notarycam.com for additional information or to get a document notarized today.