Robin Friedman
speaker
175 appearances
4 recordings
1 series
first heard Aug 2017
last heard Feb 2024
Robin Friedman’s voice in public audio — every appearance, attributed to the second.
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Appearances
It's really going to completely transform the real estate industry, I think.
Of course.
It's very new technology.
In fact, Notarize launched their product, their service, with only nine lenders on board.
So basically, if you want to use your local bank and they don't participate in this particular program, you can't do your closing digitally.
So that's something to be aware of, that not every lender has adopted this technology.
There are some other pitfalls as well.
You need to remember that notaries can't provide legal advice.
So unlike the past where you'd be sitting in a big closing room and you have an attorney and a real estate agent and maybe, depending on your state, a mortgage representative or the lender there, here you're literally sitting in your own home looking at a webcam with a notary, who in this case was in Virginia.
Notaries can't give legal advice, so it's really incumbent on the borrowers to review all of their documents ahead of time and get their questions answered because they could be in a position where they have a question and the notary can't answer.
Also, this technology is not for everyone.
Although the people that I spoke with believe that in three to five years, everyone will be using this and the technology will be commonplace,
There are those buyers who prefer paper and just won't feel comfortable with new technology.
So it isn't for everybody.
Thank you.
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