This blog article features a call to action for those avante-garde notaries that already know they want to be ahead of the curve with evolving technology. If you want to skip the article and register for the EscrowTab network, and get access to their free IPEN software on your own device, you can do so here.
The mortgage industry consumes about 2.2 billion pieces of paper every year (50-60 million of which are estimated to be notarized), which, depending on their size, will require a minimum of 117,000-200,000 trees to supply.
According to some industry estimates, there are about 950 million other non-mortgage related documents notarized every year, and many of those use more than a single page.
So as notaries public, somewhere around 4-5 billion sheets of paper pass through our hands every single year.
That’s unsustainable for a few reasons:
Paper is expensive to lenders, closing agents, the legal profession, and notaries;
The environmental impact is severe;
And consumers are tired of it.
Not to mention…as I write this, we're sliding into 2023!
We live in an age where I can simply think about ice cream and I’ll start getting ads for Haagen Dazs in my social media feeds (so it seems, anyway).
There’s got to be a better way!
And there is.
Remote Online Notarization (RON) has commanded the spotlight over the last few years, and given the circumstances, that made perfect sense.
But In the post-pandemic world, there must be another option. It can’t be just two choices for notarization:
Notarize virtually via RON platforms;
Or notarize in-person with paper.
The third option, In-Person Electronic Notarization (IPEN) bridges the gap perfectly because not every signer will be a candidate for RON, nor will every receiving agency/party accept RON documents. And now (finally) the technology for IPEN has evolved to an easy to use and practical application.
Already legal in fifty states (but not necessarily used), In-Person Electronic Notarization (IPEN) occurs when a borrower and notary are in the same location and the borrower signs with their handwritten electronic signature. The notary then electronically notarizes the documents without any paper involved (may require eNotary registration in your state).
Despite its legality and approval, IPEN had not garnered much attention or mainstream use because people either didn’t even know it was an option (including notaries), or they still had some concerns about the validity of electronic signatures.
Not to mention the technology was clunky…at best.
The times are-a-changing though, and EscrowTab is plowing the way with an easy-to-use, secure system with a forensically verifiable signature.
And that has the industry’s attention.
If you’re not in their network yet, get in it now. This is the smoothest IPEN technology I’ve ever seen.
And did I mention forensically verifiable signatures?
You’re going to want to be the first to know about some of the game-changing updates they have in the works.
Previously, working with EscrowTab required the purchase or lease of a tablet. But now they have released their free app for active notaries that want to differentiate themselves as “EscrowTab Enabled.”
There are some technology requirements, so EscrowTab will still approve your devices, but you can get started by registering here.
Here’s the device system requirements you must have in order to download their free app:
Microsoft Surface Pro X with a Bluetooth Stylus (Windows 10 or 11)
Apple 12.9 inch iPad Pro with Apple Pencil (iPad OS15+)
Samsung Galaxy S8 Ultra with a Bluetooth Stylus (Android 12+)
(If you don’t have these devices you can buy or lease one from EscrowTab)
Because of the market environment EscrowTab launched in, they’ve been primarily focused on the mortgage industry.
Already approved with Fannie Mae, Freddie Mac, MERS, and MISMO, and not to mention a client list that would make any notary’s pen tingle, they will inevitably change the way this industry works.
Never before have we been so close to a 100% paperless mortgage while maintaining in-person integrity and human connection.
But it's not all about mortgages.
Remember, there’s 950 million other notarizations happening out there every year.
EscrowTab plans to help with that too.
That’s right.
EscrowTab for General Notary Work (GNW) and Specialty Notary Work (SNW) is coming soon!
Insiders can’t confirm exactly when this will roll out in 2023, but it’s close.
Just as EscrowTab is disrupting the mortgage industry, they plan to do the same with other specialty niches like estate planning documents, auto loans, medical paperwork, and so much more.
Don’t get left behind on this.
Be among the first to know and register with EscrowTab here. There’s no commitment and no cost to register.
If you have the proper technology and eNotary credentials for your state, you’ll be in their preferred network AND you can update your SigningAgent.com profile with the designation, “EscrowTab Enabled.”
Intimidated by new technology?
Don’t worry, they have free training available.
And, from my own experience, this is some of the simplest software to use. It’s about as close to paper as you can get without being paper. They’ve nailed it.
Here’s How to Get Started with EscrowTab and What to Expect
Register for free and with no commitment or expectation here (just get connected with EscrowTab)
Watch for the “Next Steps” email from EscrowTab and follow those directions (arrives within 24 hours)
If you haven’t done so already, follow your state’s rules for registering as an e-notary (EscrowTab can actually help create the electronic notary seal for you)
Let EscrowTab know your device specifications (they’ll prompt you for this)
Attend a free training to learn how to use it
Real estate closings may get filtered to you because you’re on the EscrowTab approved master list that many title and escrow companies use. Plus, you can advertise “EscrowTab Enabled” on directories like www.SigningAgent.com and others.
But most importantly, you’ll be in the EscrowTab network and among the first to know about the capabilities with General Notary Work and Specialty Notary Work.
If you want to stand out in a sea of sameness, do something or be something different.
Share your thoughts or ask your questions about EscrowTab or IPEN in the comments below.
Bill Soroka teaches a Prolific Content Creation Course in the Notary Business Builder advanced mastermind program. He is also the best selling author of three books (and counting) designed to help notaries build their dream.
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