California Governor's Signature Needed for E-Signing and Virtual Closing
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We have been waiting for e-signings and virtual closings in California for many years and I can say with most certainty, “It’s about time!” Many of our tech-savvy lenders, notaries, and escrow companies are waiting for the roll-out of this program. Borrowers will be able to e-sign, have their documents notarized all via an electronic device. This service is currently being offered in many other states and is a game-changer for the industry. Not every client may want or use this new service, however, amid the current COVID-19 pandemic, many will appreciate it.
3 Tips For a Virtual Home Signing
Internet connection-A great signing at home will need a solid, secure, and fast internet service. This will be important as a 3rd party notary will need to verify over the screen borrowers drivers’ licenses and answer any questions as they would in a face-to-face transaction.
Comfort and Ease of Use-Borrowers that are currently using Zoom, iPads, FaceTime, Skype, and other devices allowing the virtual loan signing process to flow. Borrowers can also request assistance from their loan officer ahead of time or during the course of the transaction.
Location-Finding a good location at home like an office, dining table, living room, or space that is comfortable makes good sense during the signing. Managing noise and other distractions are important for streamlining time and effort.
