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MOUNTLAKE TERRACE, Wash., Nov. 9, 2021 /PRNewswire/ -- 1st Security Bank ('the Bank') is now using Remote Online Notarization ("RON") for multiple buyer and seller signed document closings through its Home Lending division.
The eClose process allows borrowers the convenience of previewing and signing most closing documents from an internet-enabled device before meeting with a notary in person for identity verification and final document signing. With RON, the notary participates through live videoconferencing with the client and notarizes the documents virtually.
"RON is still an emerging technology and many of the escrow companies are still learning the process. With the added convenience to our borrowers, less travel time, less paper and fewer mistakes, I believe it will be the way we close most of our mortgages in the near future." said Donn Costa, Executive Vice President of Home Lending. "Some familiarity with technology is required to use the RON process, but each participant only needs access to the internet and a connected device with a camera."
Remote Online Notarization standards ensure a high level of security and provides a fully digital closing option. 1st Security Bank borrowers can now complete the signing process from virtually anywhere in the world.
About 1st Security Bank of Washington
1st Security Bank of Washington, member FDIC and Equal Housing Lender, provides loan and deposit services to customers at its twenty-one branches, and mortgage services at each branch as well as lending offices in the greater Puget Sound area and the Tri-Cities. FS Bancorp, Inc., a Washington corporation, is the holding company for the Bank.
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SOURCE 1st Security Bank