Des Moines fintech LenderClose today announced it has made history by executing the first-ever remote online notarizations (RONs) to close a mortgage loan in Iowa. The closings are part of LenderClose’s newly launched RON solution, which kicked off last week on the heels of the Iowa State Public Health Emergency Declaration. The declaration suspended the requirement for a notary to be physically present for the signing of real estate loan documents, furthering legalization of RON in the state.
Additional lenders are expected to rely on the LenderClose RON solution for mortgage closings, including Community Choice Credit Union, Serve Credit Union, and Financial Plus Credit Union.
In anticipation that the Iowa governor’s decision will spread to other states, LenderClose CEO Omar Jordan has opened the technology to credit unions and community banks outside Iowa.