PRIA Moves RE/MTG Industry Forward – Big Time!

  • By rick

  • 6 January, 2016

PRIA Announces Approval of eNotary Paper

The Public Records Association (PRIA) has adopted a position paper that addresses County Recorders/Registrars concerns regarding paper vs. electronic signatures and notarization’s – paving the way towards accelerated adoption of the 100% digital and paperless real estate/mortgage transaction in 2016.

“Notarization is an important element of the web of trust that allows stakeholders to have confidence in a transaction’s documentation. The notary’s certificate facilitates confidence in the transaction and provides prima facie evidence that the notarization on the signed document is authentic.”

We cracked the code and solved the last mile roadblock towards a pure virtual e-Closing – anytime and from anywhere in the World.

Access the full PDF of this release on PRIA’s website here.

MORRISVILLE, N.C. (Jan 5, 2016)- The Board of Directors of the Property Records Industry Association (PRIA) has given final approval to the paper on “Traditional Assurances for Electronically Recorded Documents” published by the eNotary Work Group under the auspices of the Business Processes and Procedures Committee.

The intent of this paper is to provide all recording jurisdictions with confidence that the concept of electronic notarization is valid and acceptable in the process of recording documents in the public record.

Discussion in this paper is limited to electronic notarial acts as related to land records and recordable documents.

Marc Aronson, president of Pennsylvania Association of Notaries, and co-chair of the eNotary Work Group, explains, “Recorders should understand that the assurances a notarial act adds to the signing of a document are consistent, whether the notarial act occurs in the paper or electronic realm. The essential elements of the notarial act are the same. The notary who is notarizing electronically is simply using a different tool to sign and seal the document.”

According to PRIA President Mark Ladd, vice president of regulatory and industry affairs for Simplifile, “The title of the paper sums it up. Electronic notarization provides the traditional assurances required for recordable documents. The property records industry should think of this as a new type of pen that notaries can use, and the industry can rely on this technology just like we have wet-ink notarization.”

Kay Wrucke, recorder, Martin County, Minn., and government sector co-chair of the eNotary Work Group, adds, “The assurances for notarial acts are clarified for recorders, but pertain equally to document submitters who will be using eNotarization in the future for paper or electronic submissions.”