Part 2 of 3-Part NotaryWorks™ Blog Series
Whether you leverage Remote Online Notary Solutions or Traditional Notary services, the same dedication to quality should be a first priority. A combination of the right technology and services is critical to ensuring a quality experience for your borrowers.
NotaryWorks™ is an innovative e-closing technology platform that streamlines the loan closing process, electronically brings together borrowers and notaries, and improves the loan closing experience for all stakeholders. NotaryWorks provides national coverage and works with internal underwriters to present a seamless solution for all lenders.
Quality Assurance is an integral step in ensuring the real estate closing process is smooth from beginning to end. Accurate Group has a dedicated QA team that offers lenders both pre- and post- close reviews as part of its NotaryWorks offering.
The Importance of the Pre-Close Review
Accurate Group goes above and beyond simple signing coordination, offering a signing service born of a national title and escrow department whose attention to detail can help lenders avoid costly mistakes. Our team is trained on how to most efficiently move a closing package to the table for signing, while ensuring compliance with state laws and ensuring the security instrument is posted to public record without delay.
The pre-closing package review by Accurate Group’s Signing Coordinators consists of checking for accuracy in loan amounts and loan type, vesting and trustee language. Attorney and notary selection is also vital to the process and final product quality as noted in the first part of this series.
The pre-close review includes a comparison of names on the mortgage or deed of trust to the title product – usually a property report but can also be a commitment.
But along with covering the basics and ensuring accuracy, it’s imperative for the Signing Coordinator to understand each state’s unique requirements—a critical step in avoiding delays in the closing process and one that requires specialized expertise. To ensure this, we rely on an organized and deep set of state-specific standard operating procedures built on years of first mortgage underwriting knowledge.
For example, if the borrowers hold title as trustees but the lending rule prohibits lending to a trust, we would expediently convey that information to the lender along with the need for required additional state or county documents, such as transfer and tax forms that might be missing from the final package.
Lastly, our experienced staff utilizes lender-specific check lists to accommodate and ensure that lender-specific requirements and instructions are met during the pre-close review process so we can move on to the final step in the closing process – post-close review.
The Final Step – the Post-Close Review
Upon receiving the signed closing package, the Accurate Group Signing Coordinator inspects every page, confirming 100% accuracy by the notary in every transaction within 24 hours of receipt. During this 24 hour period, we resolve inaccuracies and/or missing documents prior to sending the closing package back to the lender. This is a necessary step to avoid funding delays, prevent added work for the lender and avoid potential borrower service interruptions.
Along with the above, the Accurate Group Signing Coordinator validates that lender-specific workflows are precisely executed to deliver the fastest funding option possible.
When applicable, the Signing Coordinator launches the security instrument recording with Accurate Group’s National Recording department – delivering additional value through an integrated workflow for select lenders.
Throughout the process, Accurate Group’s staff communicates regularly with the lender to ensure expectations are met along with preferences.
NotaryWorks Signing Solutions’ production staff applies decades of closing and escrow experience to every signing transaction. Whether you leverage our Remote Online Notary Solution or Traditional Notary services, the same dedication to quality is our first priority. No challenge is too difficult for our seasoned team.
Deliver the Best Consumer Experience
In the competitive real estate lending environment, it is important to provide the best possible consumer experience. NotaryWorks is a user-friendly, transformative solution that addresses lender e-closing needs and goes above and beyond other solutions to ensure a high-quality, efficient closing that delights the borrower.
Contact us at askAG@accurategroup.com to learn more about NotaryWorks or to request a demo – and get on the path to faster loan closings and happier borrowers.
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