The need for nationwide remote online notary standards becomes more apparent each day. Because RON laws are passed at the state level, each state has a different law, and those laws are interpreted differently from company to company and across state lines.
The lack of RON standardization not only results in confusion surrounding the notarial act, but it also can lead to delayed closings and financial consequences. The mortgage industry has spent years driving RON adoption and is finally seeing the fruits of that labor. However, as adoption increases, so should the push for standardization.
This article originally appeared in National Mortgage News [subscription required].