Remote online notarization (RON) has quickly emerged as an innovative tool to streamline mortgage originations and facilitate socially distanced closing ceremonies. This report examines the status of RON legislation around the country and the hurdles to adoption. It also assesses consumer preferences for executing loan documents and the business justifications for investing in remote closing technologies.
Key questions discussed in this report:
- What makes RON necessary in today’s mortgage market?
- How has the COVID-19 pandemic influenced consumer attitudes toward virtual closings?
- What are the ancillary benefits of adopting remote closings?
Consumer data in this report was collected via an online survey fielded in April 2020, consisting of 1,000 consumers who obtained at least one or more mortgage, home equity, auto loan, lease, or subscription financing product on or after January 2018.