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OnDemand Course

Real Estate E-Closings: Wave of the Future or a Passing Fad?

Gain insight into digital signature solutions and strategies for implementing remote notarization processes.

Businesses and consumers are increasingly turning to digital signature and remote online notarization solutions to create a seamless digital ecosystem. The need to support and work in these digital environments has only increased with remote working environments and decreased access to traditional infrastructure for signing, notarizing, and processing transaction documents. These solutions often entail moving from the use of scanned manual signatures to more secure and auditable digital signature solutions. When notarization is needed, remote online notarizations allow businesses to notarize critical documents with clients, vendors, and government entities despite the notary and signer aren't able to be in the same room at the same time. A holistic approach allows businesses to operate seamlessly with remote employees who travel, are located overseas, or during emergencies to facilitate important transactions when face-to-face interactions are not possible. Additional special considerations attach to electronic promissory notes, letters of credit, and chattel paper, where possession of a physical copy of the instrument evidences ownership of the rights embodied in the instrument. The creation of electronic vaults that track possession of the original electronic version of these documents is critical to their enforcement. As with any new process -- especially where technology is used -- businesses must, of course, perform the necessary due diligence and put in place tight policies and procedures before implementing them to ensure compliance with laws and regulations. This program will provide key insights into digital signature solutions and strategies for implementing remote notarization processes, which are needed to enforce digital loan transactions.

Learning Objectives

  • You will be able to recognize what a digital signature is.
  • You will be able to identify what a RON is.
  • You will be able to identify what an e-closing involves.
  • You will be able to recognize requirements for an enforceable electronic signature.

61 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Key Laws on Electronic Signatures

  • The Uniform Electronic Transactions Act (UETA)
  • The Federal Electronic Signatures in Global and National Commerce Act (E-Sign Act)
  • E-Sign Preemption and State Law Variations
  • Core Requirements for an Enforceable Electronic Signature

Digital vs. Electronic Signatures

  • Using a '/s' on a Letter
  • Encrypted Digital Signature
  • How to Incorporate in Agreements
  • Using Digital Signature Service Providers

Remote Online Notarization and Remote Ink Notarization

  • What Is Remote Online Notarization and Remote Ink Notarization?
  • Why Is It Needed for a Digital Mortgage?
  • Key Considerations Before Implementing
  • In-House Created RON Program or Leverage an Existing Entity

E-Closings

  • Creating an Ecosystem
  • E-Vaults
  • GSE Adoption

Case Study on Enforcement - Rivera v. Wells Fargo Bank, N.a. et al., 189 So.3d 323 (4th DCA Fla. 2016)

  • Facts
  • Arguments and Holding
  • How to Apply the Holding to Increase Chances of Enforceability
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last reviewed on November 15, 2023.

Call 1-866-352-9540 for further credit information.

  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • CPE/NASBA - QAS Self Study 1.5 including Information Technology 1.5
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.5 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Information Technology for 1.5 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Ieuan G. Mahony

Ieuan G. Mahony

Holland & Knight LLP

  • Partner in Holland & Knight’s Boston office
  • Concentrates his practice in intellectual property (IP) licensing and development, and information and communications technology (ICT)
  • Recent engagements include advice and negotiations with respect to reseller agreements involving cloud services providers, including Infrastructure as a Service (IaaS) and Software as a Service (SaaS) providers, providers of connectivity components resold by others in the Internet of Things (IoT) industries, traditional and online software providers, and online marketplace providers
  • Can be contacted at [email protected]
Joshua C. Prever

Joshua C. Prever

Holland & Knight LLP

  • Partner at Holland & Knight LLP
  • Trial and appellate lawyer who focuses his practice on representing financial services companies both inside the courtroom and before state and federal regulators
  • National expert on remote online notarization and its use for offering completely digital loan platforms, including mortgages/deeds of trust and electronic notes
  • Supports lenders with mortgage servicing outsourcing and related vendor management programs
  • Author and speaker on the use of technology in the financial services sector, important regulator initiatives, and emerging legal issues.
  • Member of the D.C., Florida, and Virginia bars; ABA, Florida Constitutional Judiciary Committee, Mortgage Bankers Association, board member of Big Brothers Big Sisters of Miami
  • J.D. degree, University of Miami School of Law; B.A degree, Honors College at Florida International University
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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  • State Specific Credit Tracker
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Product ID: 409362
Published 2022
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