Fidelity National Financial completed its first digital real estate closing in Texas using a remote online notarization and digital-signature process.
State law allows escrow officers commissioned as online notary publics to perform fully digital closings using a combination of video technology and digital signatures. A Texas FNF affiliate used secure, remote notarization technology to connect the property sellers in Austin with an escrow officer in Pearland. To complete the transaction, several documents were digitally signed by the sellers and notarized remotely, creating a superior closing experience.
"As consumers' lives become increasingly mobile, we are evolving our service to include a broad range of digital tools that allow us to meet them wherever is most convenient." said Jason Nadeau, chief digital
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Nadeau: Online notarization enables deals to close when it best fits their schedules.[/caption]
officer for Fidelity National Financial. "Remote online notarization is just one part of this wider toolset and allows sellers and buyers to close on a real estate transaction when and where it best suits their schedules."
The digital tools employed by FNF for this transaction used electronic methods to ensure the identity of the property sellers and created a full set of compliant, digitally signed documents. Following the closing, an archived video version of the remote closing experience was uploaded to FNF's secure, web-based system for the delivery and storage of escrow and title documents, becoming part of the official record tied to this transaction.
"Digital closings and remote notarization tools are key components of Fidelity National Financial's wider vision for an end-to-end digital real estate experience," said Nadeau. "By combining the very best in eClose, eSign, remote notarization and other innovations, we are moving our operations--and the industry--forward into the digital future. At the same time, we're ensuring our vast network of settlement agents, escrow officers and notaries maintain their competitive edge in an increasingly digital market."
