1st Security Bank is now using Remote Online Notarization (“RON”) for multiple buyer and seller signed document closings through its Home Lending division, the company said in a release.
“RON is still an emerging technology and many of the escrow companies are still learning the process. With the added convenience to our borrowers, less travel time, less paper and fewer mistakes, I believe it will be the way we close most of our mortgages in the near future,” said Donn Costa, executive vice president of Home Lending. “Some familiarity with technology is required to use the RON process, but each participant only needs access to the internet and a connected device with a camera.”
Bank borrowers can now complete the signing process from virtually anywhere in the world, Costa said.