Digital Closings Overview

Electronic Signature (eSignature) - An electronic sound, symbol, or process, attached to or logically associated with a contract or other record and executed or adopted by a person with the intent to sign the record.

eRecording - The process of submitting electronic documents for recording online and having them reviewed, recorded, and returned to the submitter

Hybrid Closing - A closing process during which some documents, typically documents that will be notarized and/or recorded (e.g., the deed, mortgage, and note), will be printed to paper and traditionally wet-signed while other documents throughout the process are signed electronically. A hybrid closing requires the use of software that can create electronic documents and that enables application of electronic signatures. electronically.

Fully Electronic Closing - A closing process during which all closing documents are created, executed, transferred, signed, and stored electronically. A fully electronic closing involves the use of in-person electronic notarization (IPEN).

Remote Ink Notarization (RIN) - A process through which a notary in a different physical location from a signer observes the signer executing the document over a video conference. The signer executes the document with wet-ink signatures and transfers the document by mail or other delivery service. Upon receipt, the notary applies a wet notarization and any required ink stamp or seal to the original document.

Remote Online Notarization (RON) - A process of notarizing a document in a digital, online platform while the notary and the signer are in different physical locations. RON involves electronic documents executed by the signer using electronic signatures, and electronic notarization using an electronic version of any required stamp or seal. The electronically notarized document should then be digitally sealed in a tamper-evident manner to prevent any unauthorized changes to the document.