Yes. Selling Guide A2-5.1-03 describes all of our other policies related to electronic records, signatures, and notarizations. Note that electronic signatures are permitted under the terms of the Selling Guide but promissory notes may not be signed electronically unless the promissory note is an electronic note sold in accordance with A2-5.1-03. Lenders seeking to service or deliver eNotes must seek approval. Please see our Lender Letter 2020-03 for additional information on RON.

An eClosing (electronic closing) takes place when some (or all) of the closing documents are signed electronically. eClosings produce eMortgages only if the promissory note is signed electronically. While not all eClosings produce eMortgages, all eMortgages produced are the product of eClosings.

Remote online notarization (RON) uses two-way audiovisual technology and additional security protocols and anti-fraud mitigants (such as tamper sealing documents and multi-factor authentication) to complete the notarial act when the signer is not in the same physical location as the notary. The notarized documents are eSigned and the notarial seal is applied electronically.

Both the signer and Notary must access a RON platform where documents are uploaded. The technology must provide audiovisual capabilities so the notary and borrower can see and hear each other. Once the notary verifies the signer’s identity, the signer and notary both sign the document electronically, and the notary affixes an electronic seal.