eClosing 101
Closing & Notarization
Types Explained
Let’s start with the basics
With the recent acceleration of the digitalization of the home buying process, lenders and title agents are looking for secure and efficient technology solutions to complete real estate transactions. This educational page is dedicated to explaining the different closing, signing and notarization types, so you can determine what will work best for you.
What is an eClosing?
An eClosing is the act of closing a real estate transaction electronically. This occurs through a secure digital environment where some or all of the closing documents are accessed and executed electronically.
ⓘ eClosings result in eMortgages only if the promissory note is in a smart document format and signed electronically
Types of Closings & eClosings
Traditional Closing
Parties appear in person and wet sign and notarize printed documents.
Hybrid eClosing
Parties appear in person to eSign most documents, wet sign certain printed documents and notarize or eNotarize* as permitted.
Full eClosing
Parties appear in person to eSign and eNotarize all documents.
Remote Online eClosing
Parties attend the closing remotely using two-way audio-video technology to eSign and remotely eNotarize all or most documents.
Remote Traditional Closing
Available by Executive Order only, parties attend the closing remotely using two-way audio-video technology, where the notary observes the wet signing of the documents. The wet-signed documents are returned to the notary for them to complete the certification and execution and affixation of the official notary stamp or seal.
Types of Notarizations & eNotarizations
Traditional Wet Ink Notarization (TWIN)
Documents are wet-ink notarized, in the presence of the notary.
In-Person Electronic Notarization (IPEN)
In-person electronic notarization (IPEN) completed, using an internet-enabled device.
Remote Online Notarization* (RON)
eNotarization with participation from separate physical locations using two-way audio-video technology.
Remote Ink-Sign Notarization** (RIN)
Documents are printed and wet-ink signed while notary observes via two-way, audio video technology. Those documents are delivered to the notary for certification, execution and affixation of the official notary stamp or seal.
*Due to platform capabilities, state law or regulation or all, electronic notarization and remote online notarization are not available in all areas.
**Users should consult their title insurance underwriter, if applicable, laws, regulations, and Executive Orders applicable to each signing session. Users are solely responsible for all steps necessary to ascertain, determine, meet, and verify compliance with all applicable orders, laws, regulations, rules and requirements governing any notarial or other execution of writings facilitated in whole or part through Pavaso’s Essential Notary™ or any other Pavaso technology.
The Differences Between the Types of Closings & eClosings
Now, let’s take a look at how the types of closings and notarizations work together to create different closing options.
Type of Notarization
Traditional Wet-Ink Notarization (TWIN)
In-Person Electronic Notarization (IPEN)
In-Person Electronic Notarization (IPEN)
Remote Online Notarization (RON)
Remote Ink-Sign Notarization (RIN)
Type of
Closing
Traditional Closing
Hybrid eClosing
Full eClosing
Hybrid or Full Remote Online eClosing
Remote Traditional Closing
Description of the Closing Option
Parties appear in person and wet sign and notarize printed documents.
Parties appear in person to eSign most documents, wet sign certain printed documents and notarize or eNotarize as permitted.
Parties appear in person to eSign and eNotarize all documents.
Parties attend the closing remotely using two-way audio-video technology to eSign and remotely eNotarize documents. If some documents, including the promissory note, are wet ink signed and notarized, then this type of closing is known as Paper Remote Online Notarization (or PRON) transaction.
Parties attend the closing remotely using two-way audio-video technology, where the notary observes the wet signing of the documents. The wet-signed documents are returned to the notary for them to complete the certification and execution and affixation of the official notary stamp or seal.
Document Form
Paper
Electronic & Paper
Electronic
Electronic
Paper
Signing Method
Wet-Ink
Electronic & Wet-Ink
Electronic
Electronic
Wet-Ink
Notarization Method
Wet-Ink
Electronic & Wet-Ink
Electronic
Electronic
Wet-Ink
Identification Method
Traditional Means
Traditional Means
Traditional Means
State specific multi-factor requirements, which includes knowledge-based authentication (KBA), automated authentication of government-issued photo ID, and/or visual inspection of ID through video technology.
Presence at Closing
In-Person
In-Person
In-Person
Remote
Remote
eNote Capability
No
Yes, but not required
Yes, but not required
Yes, but not required
No
Traditional Wet-Ink Notarization (TWIN)
Type of Closing:
Traditional Closing
Description of the Closing Option:
Parties appear in person and wet sign and notarize printed documents.
Document Form:
Paper
Signing Method:
Wet-Ink
Notarization Method:
Wet-Ink
Identification Method:
Traditional Means
Presence at Closing:
In-Person
eNote Capability:
No
In-Person Electronic Notarization (IPEN) - Hybrid
Type of Closing:
Hybrid eClosing
Description of the Closing Option:
Parties appear in person to eSign most documents, wet sign certain printed documents and notarize or eNotarize as permitted.
Document Form:
Electronic & Paper
Signing Method:
Electronic & Wet-Ink
Notarization Method:
Electronic & Wet-Ink
Identification Method:
Traditional Means
Presence at Closing:
In-Person
eNote Capability:
Yes, but not required
In-Person Electronic Notarization (IPEN) - Full eClosing
Type of Closing:
Full eClosing
Description of the Closing Option:
Parties appear in person to eSign and eNotarize all documents.
Document Form:
Electronic
Signing Method:
Electronic
Notarization Method:
Electronic
Identification Method:
Traditional Means
Presence at Closing:
In-Person
eNote Capability:
Yes, but not required
Remote Online Notarization (RON)
Type of Closing:
Hybrid or Full Remote Online eClosing
Description of the Closing Option:
Parties attend the closing remotely using two-way audio-video technology to eSign and remotely eNotarize documents. If some documents, including the promissory note, are wet ink signed and notarized, then this type of closing is known as Paper Remote Online Notarization (or PRON) transaction.
Document Form:
Electronic
Signing Method:
Electronic
Notarization Method:
Electronic
Identification Method:
State specific multi-factor requirements, which includes knowledge-based authentication (KBA), automated authentication of government-issued photo ID, and/or visual inspection of ID through video technology.
Presence at Closing:
Remote
eNote Capability:
Yes, but not required
Remote Ink-Sign Notarization (RIN)
Type of Closing:
Remote Traditional Closing
Description of the Closing Option:
Parties attend the closing remotely using two-way audio-video technology, where the notary observes the wet signing of the documents. The wet-signed documents are returned to the notary for them to complete the certification and execution and affixation of the official notary stamp or seal.
Document Form:
Paper
Signing Method:
Wet-Ink
Notarization Method:
Wet-Ink
Identification Method:
State specific multi-factor requirements, which includes knowledge-based authentication (KBA), automated authentication of government-issued photo ID, and/or visual inspection of ID through video technology.
Presence at Closing:
Remote
eNote Capability:
No
General Benefits of eClosings
Enhance Customer Experience
Reduce Cost, Risk and Time to Close
Standardize Closings
Improve Accuracy and Efficiency
Close with Confidence
Expedite Funding
Want to know more about eClosings?
Read section 201 – Understanding eClosing as a Process
Interested in our eClosing platform?
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