eClosing 101

Closing & Notarization
Types Explained

3

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

Currently 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?

To contact us, please select the appropriate form below.

 

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