NEWPORT BEACH, Calif., Dec. 17, 2018 — NotaryCam®, the leader in online notarization and the original provider of mortgage eClosing solutions, today announced it has completed the first remote online closing (ROC) for a purchase and sale transaction in Virginia in conjunction with Stewart Title®. Using NotaryCam’s eClose360® platform, Stewart Title facilitated both sides of the eClose transaction between the buyer and seller, marking the first time that both parties to one transaction completed their portion of the closing remotely.
“Virginia was a pioneer in the adoption of remote online notarization legislation, which serves as a key component to the ROC process,” said NotaryCam Founder Rick Triola. “NotaryCam foresaw the need for home buyers and seller to be able to complete the closing process remotely years ago, and in working with forward-thinking industry partners like Stewart Title, we’ve been able to steadily increase the number of ROC transactions under our belt since our first in 2012, now exceeding 130,000 transactions.”
eClose360 by NotaryCam provides lenders and title/closing agents with a secure, online closing room for remote online closings. Users can upload closing documents, meet with signers and return fully executed and compliant documents within an hour. The platform also records the entire transaction, providing closing agents and lender with verifiable proof that the transaction was completed in accordance with all relevant laws and regulations and with the signers’ full understanding and intent.
“Stewart continues to innovate and leverage technology to simplify the complex closing process, allowing customers to now close faster and more securely, anywhere, at any time,” said Scott Gillen, Senior Vice President, Industry Relations, Stewart Title. “NotaryCam gives us an added advantage to meet our customer needs by providing a fully digital closing solution that saves everyone time and money, and ultimately enhancing the customer experience.”