We are certainly living in unprecedented times and our industry is doing everything it can to help consumers continue to buy and sell homes - from “drive by closings”, signing in parking lots, separating buyers and sellers into different signing rooms, to the disinfecting of pens, tables and chairs - and most importantly, adopting digital technologies.
In our current world of “social distancing” the need to sign and notarize legal documents remotely is an absolute must for the housing industry and the economy. Thankfully, the federal government agrees. On March 18, 2020, U.S. Sen. Mark R. Warner (D-VA) and Kevin Cramer (R-ND) introduced S. 3533, or the “Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2020”. This is a bipartisan legislation which will permit immediate nationwide use of Remote Online Notarization (RON).
What is RON, you ask?
Remote Online Notarization (RON) is a type of electronic notarization where the notary and signer are in different physical locations. A signer personally appears before the notary at the time of the signing using audio-visual technology instead of being physically present in the same room. RON can also be called webcam notarization, online notarization or virtual notarization. Learn more in part 1 of our RON series, where we discuss the basics and definitions of RON and how it can benefit your business. Download our free Remote Online Notarization e-book.
The SECURE Notarization Act authorizes every notary in the United States to perform RONs, requires tamper-evident technology in electronic notarizations, and provides fraud prevention through use of multi-factor authentication.
The legislation is endorsed by the American Land Title Association (ALTA), Mortgage Bankers Association (MBA) and the National Association of Realtors (NAR). The senate is looking to pass the legislation as soon as possible. Once passed, RON will be available immediately throughout the country.
For additional details on the SECURE Notarization Act of 2020 and Frequently Asked Questions, please refer to the documents below:
