RON transactions increase 547% in 2020

Housing Wire

Adoption of remote online notarization soared 547% in 2020, according to a new survey from the American Land Title Association of major vendors working in the RON space.

The increase in adoption is largely due to protocols related to the COVID-19 pandemic and the fact that 29 states have passed permanent RON legislation.

"Today, RON is being utilized most extensively in Florida, Texas and Virginia," ALTA told its members. "Additionally, use of this technology is trending up significantly in Midwestern states. A decade ago, Virginia became the first state to enact a RON law and in 2017 Texas was the third state to approve RON legislation. Florida's law is relatively new, having passed in 2019, but adoption there has been rapid.

"Earlier this year, Notarize and Realogy Title Group reported seeing a 200% spike in RON closings due to safety concerns from the pandemic.

However, that too, has grown.Now, Notarize reported its volume of real estate notarizations increased 825% over 2019... Read More Here!