Industry News

Company claims California’s first e-mortgage closing

Real estate loan closing used digital signature

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The first electronic notarization and electronic mortgage closing in California took place this month in Orange County, according to NotaryPro, the company that facilitated the transaction. Irvine, Calif.-based NotaryPro coordinated what it called "the first electronic home equity mortgage closing" in the state on Feb. 1, using DigaSign, a device that makes it possible to sign digitally at occasions such as real estate closings using a special inkless pen and what is known as a biometric pad. Secured Funding recorded the electronic warranty deed and security agreements utilizing U.S. Recording, which officially filed with the Orange County, Calif., recorder of deeds, NotaryPro said. Working with DigaSign, NotaryPro provided the technology platform for the event. NotaryPro captured the borrower's initials and signature on a biometric pad which transports the electronic data of initials, signatures and acknowledgements, applies it to the entire loan document package, inserts the electr...