Online notary and mortage eClosing services provider NotaryCam Inc., has said its eClose360 online notary platform has been approved by Freddie Mac to start offering eMortgage origination services.
The company said it had completed Freddie Mac’s approval process after meeting all of the mortgage servicer’s requirements.
“We are very pleased that our technology has now been approved by Freddie Mac for eMortgage closings,” said Rick Triola, Founder and CEO of NotaryCam, in a statement. “Many portfolio lenders and those who sell eMortgages to other investors have been relying on our patented eClose360 ceremony for some time. Now, mortgage lenders who sell their production to Freddie Mac can execute a full set of loan docs, register with MERS eRegistry and fund in near real-time and share those benefits with their partners and borrowers.”
NotaryCam’s eClose360 platform helps buyers of real estate close complete their transaction processes entirely online, effectively solving “the last-mile digital challenge,” the company said. It works by providing an online platform for individuals and businesses to legally notarize, sign and execute documents and other agreements, meaning they no longer have to sign documents in person. The company boasts of completing tens of thous of notarizations in all 50 U.S. states, as well as 65 other countries. Parties from anywhere in the world can connect to a live notary public in a secure virtual signing room. Identities and eSignatures are verified in a face-to-face web interaction to eClose real estate and mortgage transactions, notarize deeds, power of attorney, health directives, and more.
Using the platform, buyers can remove all of the stress that comes from having to attend numerous meetings in person to sign documents. NotaryCam said its technology won more votes from attendees than any other digital mortgage technology provider in its category at the recent Digital Mortgage Conference held in San Francisco.
NotaryCam said it developed its technology to meet the needs of both Government Sponsored Enterprises (Fannie Mae being the other one). NotaryCam’s signing agents (who supervise the transactions) have also been certified by the National Notary Association, the company said.