Is Online Notarization Changing The Closing Process?
10-minute closings may sound very appealing to customers, however, one expert points out that online notarization doesn't change the fundamental process of a closing, according to a recent HousingWire report.
"Online notarization will have two major effects on mortgage closings. The first is the most obvious, which is the drastic improvement in convenience and accessibility to the closing," said David Kressel, NotaryCam chief operating officer and 2018 HousingWire Insider, according to the HW interview.
"We do lots of closings for people who don't have a reason why they couldn't get to a title office or lawyer's office, but it's an inconvenience nonetheless, a disruption to their busy lives."
Kressel also told the publication that he is not in favor of selling the idea of a 10-minute closing. He believes that documents can be signed in 10-minutes, though, that may be without reviewing the 30-paper documents.
To learn more about what Kressel does and how he believes online notarization will change the closing process, click on the image above.
