Network Transaction Solutions (NTS), a multi-state provider of title support services including remote online notarization (RON), has launched its RON-as-a-service (RaaS) offering in California.
The announcement comes shortly after passage into law of CA Senate Bill 696, which streamlines the acceptance of notarizations performed remotely by notaries commissioned outside California. As the state continues to work on establishing the infrastructure and technology needed to onboard in-state remote notaries, which is not expected to happen for as long as a year, established RON providers are now able to perform digital closing services within the state.
According to NTS Operations Manager Andrea Somers, the development means that lenders or title agents seeking to deliver RON services in California, but who are unable themselves to provide the necessary service and technology, may work with RaaS providers like NTS.
“Title agents have been waiting for the ability to deploy digital closings and RON in California, one of real estate’s top markets,” Somers said in a release. “With this RaaS offering, title agents can get the best of all worlds without having to build out their own RON capabilities. They’ll keep their closings, premiums and client relationships while deploying NTS just as they would a mobile notary.”
Somers described RaaS as an enhanced RON service that can be deployed by title agencies or mortgage lenders. Clients provide their closing package to the RaaS provider and provide a deadline. The provider then assumes ownership of all elements of the RON and closing experience, including scheduling the signing, customer support, document preparation, review and communication.
The RaaS provider also provides experienced, specialized closing agents, a completed post-closing package and any necessary trouble shooting.
In addition to providing RON services, NTS offers title agents outsourced, centralized title support services, including municipal lien searches, HOA estoppel processing, nationwide mobile signings, post-closing services and more.