Before you sign up for the first remote online notarization (RON) system you see, ask yourself: does the solution have everything you truly need?
To succeed in our increasingly online world – where convenience is key, and customers crave options – mortgage lenders need a RON system in their toolbelt. After all, we already know that any form of electronically closed transaction – even one that’s only partially electronic – gives lenders a better return on their money. Why not make life easier for your customers while you’re at it?
Here are four things to look for in a RON system.
The ability to conduct all eNotarization on one platform
If the RON system you’re looking at can’t handle eSignatures, in-person eNotarization (IPEN) and remote online notary work on the same platform, keep looking.
Remember: convenience is key. And having all three processes under one umbrella is a huge convenience for the lender, the notary and customers. No one wants to juggle multiple platforms when the best RON systems can already handle digital signings, wet signings and a hybrid of the two on one piece of software.
Multi-state lending availability
Not every RON system is allowed in every state. And as you start building your customer base and expanding your business regionally and nationally, you’ll need a RON system your customers can use wherever they are. To be scalable and truly embrace remote work, you need to make sure your RON system provider is approved to operate where you do business. You don’t want to change your work habits based on your signer’s mailing address.
System security protocols
The right RON system is one that already has Mortgage Industry Standard Maintenance Organization (MISMO) certifications – meaning you can be confident you’re working with a system that’s been audited by a third party and assists in compliance with industry regulations. A mom-and-pop RON doesn’t necessarily have proper security protocols in place, and no MISMO certifications could mean no one has validated how secure those systems really are.
Flexibility to support broad notarization work
A winning RON solution isn’t limited to lending. It will enable a broad spectrum of notary work, from legal documents and contracts to general notary work. Some platforms can only offer RON systems for real estate. But there are others that offer a much wider range of possibilities, enabling you to get more for your money. DocVerify®, Black Knight’s RON system does all this and more. Contact us to schedule a demo.