Digital tools and online services have become increasingly valuable in recent years, and the demand for them have continued to rise amid the spread of the novel coronavirus. The pandemic has certainly accelerated the move to digital platforms, forcing industries to either adapt or fall behind. In the home buying industry, one example is a rise in remote online notarization, which allows anyone to connect with a commissioned notary public 24x7 to sign and notarize documents from any device — entirely online.
Amrock, one of the nation's largest providers of title insurance, property valuations and settlement services and responsible for delivering 90% of all digital closings with eNotes through the first three quarters of 2020, has doubled the number of closings completed in all of 2019 in just the first nine months of 2020. Any loan closing where at least one document is signed electronically are considered eClosings. They not only speed up the process but also allow borrowers to understand the closing process better, while remaining at a distance. By using this and other innovative technology solutions, the home buying industry can improve on services provided to for customers in the era of COVID-19 and beyond.
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