Mortgage lending giant continues its mission to have RON adopted in all 50 states
Quicken Loans announced completing the first-ever remote online notarization (RON) mortgage closing in North Carolina – a month after the emergency video notarization bill was signed into law.
The company partnered with Amrock, a provider of digital closings, to perform the RON eClosing.
"Modern technology continues to turn a process that has historically been cumbersome and paper-intensive into a simple, seamless experience. RON is a convenience in normal circumstances, but it has become a necessity in these unprecedented times of social distancing as we focus on our clients' health and safety," Quicken Loans CEO Jay Farner said.
As a result of the coronavirus crisis, North Carolina passed the law last month to "allow crucial business transactions, real estate transactions, medical documents, court documents, and all other important documents to be notarized in a healthy and expedient manner during this time of stay-at-home orders and social distancing," according to North Carolina Secretary of State Elaine Marshall.
"North Carolina's many years of leadership and preparedness in making eClosings an important option for consumers has never been more important than it is now in the face of this global pandemic," Marshall said. "The passage of the temporary Emergency Video Notarization law was paramount to ensuring vital real estate and business transactions could move forward, while also considering the health and safety of all involved. I commend Quicken Loans and Amrock for taking this major step forward here in North Carolina."
Remote notarizations are temporarily authorized for most notarial acts in the state until August 1. Currently, 26 states have legislation in place allowing RON eClosings, with 17 of them actively conducting electronic closings.
"Pioneering this technology in North Carolina was a priority for Rocket Mortgage," Farner said. "We are consistently driving digital solutions to antiquated problems, and we continue our mission to have RON adopted in all 50 states."