Stewart Completes the First Fully Digital Online Closing in Texas
HOUSTON (July 2, 2018) BUSINESS WIRE -- Stewart announced the completion of its first 100 percent paperless, fully-digital real estate transaction with Georgetown Mortgage LLC in Texas. The closing was completed by Stewart’s Katy Office in Katy, TX. All lender and title closing documents were executed electronically leveraging the Notarize Closing portal. This closing culminates more than a year-long effort by Stewart, Notarize and industry partners to work to get a bill passed in the State of Texas allowing webcam based closing. The law, which went into effect July 1, 2018, adds another tool for providing a superior consumer experience for our clients.
“Completing our first remote, fully-digital purchase transaction in Texas supports Stewart’s continued innovative and leading approach to improve the real estate transaction process," said Matt Morris, Chief Executive Officer, Stewart Information Services Corporation. “Given the increasingly busy and mobile nature of our customers, we continually look for ways to simplify the complex, and are committed to driving improvements to the process to enhance the customer experience in the manner that they are most comfortable with.”
“Online closings can’t happen in a vacuum: it requires trusted partners who are committed to innovation plus best-in-class technology to deliver an end-to-end paperless mortgage,” said Pat Kinsel, CEO, Notarize. “We strongly believe that buying and selling a home 100 percent online is the future, and we’re excited to power the very first online closing in Texas.”
"An in person closing will always be an option for consumers, but the added convenience of closing anytime, anywhere will be a solution to a host of scenarios that will benefit our customers, regardless of their age or generational classification. With today’s time constraints, spending several hours closing a home loan is absolutely inconvenient and unnecessary," said Michael Jones, CFO, Georgetown Mortgage LLC.
"It is exciting to be leading in the Texas market with the e-Closing experience,” said Brad Rable, Chief Information Officer, Stewart Information Services Corporation. “Leveraging state of the art technology allowed Stewart to serve our customers and fully support them in completing this transaction. We want this to become a regular option for future closings because of the many advantages eClosing offers over the traditional paper-based system.”
This transaction was another milestone in providing our clients the option of a fully digital remote closing at the time and location of their choosing. Stewart Title completed the transaction utilizing remote online notarization via Notarize, the first notary public platform allowing any person or business to get their documents legally notarized online. Stewart Information Services Corporation also underwrote and issued the title insurance policy for this transaction.
Stewart Information Services Corporation (NYSE-STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we believe in building strong relationships – and these partnerships are the cornerstone of every closing, every transaction and every deal. Stewart. Real partners. Real possibilities.™ More information is available at stewart.com, subscribe to the Stewart blog at blog.stewart.com, or follow Stewart on Twitter® @stewarttitleco. Trademarks are the property of their respective owners.