NotaryCam, Inc., an online notary and mortgage eClosing service provider, announced that the company’s eClose360 online notary platform has been tested and approved by Freddie Mac for eMortgage origination. To be approved, vendors must meet Freddie Mac’s requirements to provide eMortgage solutions, according to the company’s press release.
NotaryCam’s eClose360 is an online notary platform that allows mortgage closings to take place entirely online. NotaryCam allows businesses and individuals to legally notarize, sign and execute documents and agreements online. The company has legally completed tens of thousands of notarizations in all 50 states and over 65 countries.
“We are very pleased that our technology has now been approved by Freddie Mac for eMortgage closings,” NotaryCam Founder and CEO Rick Triola said in the release. “Many portfolio lenders and those who sell eMortgages to other investors have been relying on our patented eClose360 ceremony for some time.”
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. NotaryCam was developed in lockstep with the needs of both Government Sponsored Enterprises (GSEs) to ensure that eClose360 meets all of their requirements, the release said.
“Now, mortgage lenders who sell their production to Freddie Mac can execute a full set of loan docs, register with MERS (Mortgage Electronic Registration Systems) eRegistry and fund in near real-time and share those benefits with their partners and borrowers,” Triola said.