Quicken Loans and Amrock, an eClosing provider, announced the closing of North Carolina’s first online remote notarization (RON) mortgage. An emergency video notarization law was recently passed in North Carolina, allowing the implementation of RON eClosings.
“Modern technology continues to transform a historically heavy and paper-intensive process into a simple and seamless experience. RON is a convenience under normal circumstances, but it has become a necessity in these unprecedented times of social distancing as we focus on the health and safety of our customers, ”said Jay Farner, CEO of Quicken Loans. “Pioneering this technology in North Carolina was a priority for Rocket Mortgage. We constantly offer digital solutions to outdated problems and continue our mission to get RON adopted in all 50 states. “
In 2019, Quicken Loans became the first mortgage lender to offer eClosings in the 50 states.
Amrock successfully completed 85% of all electronic notes in the United States in 2020. Eligibility for electronic closure varies based on individual state laws and other factors. The spread of COVID-19 has highlighted the need for digital solutions in the mortgage industry, allowing notaries to perform their duties without having to sit in front of their client. Currently, 26 states have legislation allowing RON eClosings, and 17 of them are actively conducting them today. The rest of the states have enacted emergency legislation or executive orders providing temporary permissions, allowing notaries to perform electronic closings of some sort, including North Carolina.
“We are focused on innovations that take the hassle out of mortgage transactions and make the process easier for the end customer,” said Brian Hughes, CEO of Amrock. “I applaud the efforts of the North Carolina Secretary of State to move the mortgage closing experience online and allow clients and closing agents to work together quickly, securely, and securely.”
North Carolina Secretary of State Elaine F. Marshall is a strong advocate for electronic shutdowns in North Carolina. Its long-standing mission is to bring government business practices into the 21st century. A critical aspect of this is creating an environment for fast and secure home buying experiences for consumers, notaries, and lenders.
“North Carolina’s many years of leadership and preparation in making electronic closures an important option for consumers has never been more important than they are now in the face of this global pandemic,” said the secretary Marshall. “Passing the temporary emergency video notarization law was paramount to ensuring that vital real estate and business transactions can move forward, while taking into account the health and safety of everyone involved. I congratulate Quicken Loans and Amrock for taking this big step forward here in North Carolina.
For more information, please visit www.quickenloans.com.