Plaza Home Mortgage now is accepting remote online notarization (RON) for purchase and refinance loans in its wholesale and correspondent channels, the company announced.
Plaza Home Mortgage said RON is authorized for Fannie Mae and Freddie Mac approved loans in more than 40 states and where county jurisdictions accept electronic filing of closing documents.
The company said RON eliminates the requirement for the borrowers to physically appear in front of a notary to sign the security instrument with a wet signature.
“We are extremely pleased to offer RON to our clients who have borrowers in those states and jurisdictions where it’s currently accepted,” Chief Operating Officer and Chief Financial Officer Michael Fontaine said in a release. “In times like these when personal safety and social distancing are still the order of the day, it’s important to use technology to provide a safe, convenient and secure option for our clients, their borrowers and the notaries. Actions like this move the industry closer to a more fully digital experience.”
The company said only notaries that have been certified for online notarization can provide this service.