NotaryCam reports that its remote notary service was used to facilitate the first remote online closing (ROC) for a purchase and sale transaction in Virginia in conjunction with Stewart Title.
It was the first time that both buyer and seller completed their transactions via remote closing technology, the companies say in a release.
Using NotaryCam’s eClose360 platform, Stewart Title facilitated both sides of the e-close transaction.
“Virginia was a pioneer in the adoption of remote online notarization legislation, which serves as a key component to the ROC process,” says Rick Triola, founder of NotaryCam, in a release.
Triola adds that NotaryCam’s remote notarization services have now been used for more 130,000 transactions.
The eClose360 service lets users upload closing documents, meet with signers and return fully executed and compliant documents within an hour, NotaryCam says.
The platform records the entire transaction, providing closing agents and lenders with verifiable proof that it was completed in accordance with all relevant laws and regulations.
Scott Gillen, senior vice president, industry relations, for Stewart Title says 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.”