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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 35 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 35 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, 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 revised on January 13, 2022.

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

  • AK CLE 1.0
     
  • Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.0
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
     
  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • 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.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ND CLE 1.0
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
     
  • NH MCLE 1.0
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
     
  • NJ CLE 1.2
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.2 hours of total CLE 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.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • VT CLE 1.0
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • WI CLE 1.0
     
  • This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.2
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
     
  • 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.

MP3 Download

  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • CT CLE 1.0
     
  • HI CLE 1.0
     
  • NJ CLE 1.2
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • VT CLE 1.0
     
  • WV MCLE 1.2
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 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 LLP’s Boston Office and concentrates his practice in intellectual property licensing and development, information technology, e-commerce, and data security
  • Ieuan (pronounced Ian) advises clients on a range of digital and electronic signature solutions, including issues concerning authentication, security mechanisms, retention practices, and addressing compliance across varying state laws
  • He has written and spoken widely on e-commerce and IT-related matters and has contributed to the Practicing Law Institute’s best-selling Corporate Compliance Handbook continuously from 2009 to the present
  • He has been listed in The Best Lawyers in America guide from 2003 to the present
  • Graduate, first in his class, Boston College Law School, Executive Editor of the Boston College Law Review
  • Can be contacted at 617-573-5835 or [email protected]
Joshua C. Prever

Joshua C. Prever

Holland & Knight LLP

  • Partner in Holland & Knight LLP’s Fort Lauderdale Office, where he chiefly represents boutique to large multi-national financial services companies
  • Josh’s practice is focused on litigation, compliance, and regulatory strategies for financial services companies ranging in size from boutique to large multi-national banks; implemented RON strategies for a variety of companies, including both large and small financial institutions for mortgage loan products and other business operations
  • He has spoken before in-house counsel groups as a keynote speaker, presented before the Mortgage Bankers Association, and lectured before other key groups where he has shared thoughts on litigation issues, significant compliance matters in the mortgage space, as well as on RON and digital mortgage products
  • Wrote an article on Remote Online Notarization in Mortgage Loan Closings in The Review of Banking & Financial Services, and an article entitled, Financial Services Industry Braces for Impact of Eleventh Circuit’s Hunstein Decision, which impacts how debt collectors share data with third-party vendors
  • Recognized as a BTI Client All-Star for providing clients with superior client service through an unwavering commitment to client objectives; also awarded 40 Under 40 Outstanding Lawyers of Miami-Dade County and recognized as a Rising Star, Florida Super Lawyers
  • Graduate, order of the coif, University of Miami School of Law, served as a member of the Law Review
  • Can be contacted at 954-336-3084 (cell), 954-468-7826 (office), or [email protected]
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Why Lorman?

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Product ID: 409362
Published 2022
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