The term “life changing” almost seems like an understatement when you’re describing 2020.
As a result of the COVID-19 pandemic, we pivoted, adapted and innovated our old routines into a new way of life. And we did it within just a few months.
The typical mortgage closing process changed, as well. To keep clients and notaries safe, the mortgage industry needed remote closing options – and needed them fast! Nexsys Technologies® was ready with the Nexsys Clear Sign℠ platform, and now we’re helping homeowners, lenders, underwriters and even state legislators embrace the digital future.
Nexsys Executive Vice President Mike Lyon recently discussed this industry shift with the digital asset management specialists from eOriginal. “From an industry standpoint, we’ve pushed forward five years in five months,” Lyon said. “The biggest shift has been in RONs, where signers and notaries digitally sign documents from separate locations.
“Lenders – like other business decision makers – have wants, needs and aspirations,” he continued. “The idea that a notary could sit in one spot and a client in another while everything is handled digitally over the internet – that was an aspiration, something that would make you one of the ‘cool kids.’ Before the pandemic, they looked at RON (Remote Online Notarization) and said, ‘Okay, that’s the future, but it’s not necessary.’ Almost overnight, the aspiration became a necessity.”
Read more of what he had to say about digital technology in the mortgage industry, and how tech trends will shape its future.