AVON, RIN, RON….huh?

By Lisa R

Confused by these electronic closing acronyms? For some clarity, read on.

AVONAudio-Visual Online Notarization. Ordered by Governor Whitmer on April 8th in order to encourage the use of electronic signatures and remote notarization in order to provide limited and temporary relief from certain rules and requirements currently in place. This form of notarial act requires utilizing two-way real-time audio-video technology, as well as agreeing to have the signing event recorded, per Michigan Law on Notarial Acts.

RINRemote Ink-Signed Notarization, coined by Fannie Mae, allows use of temporary flexibilities for the closing of mortgage documents, and uses the same steps as in AVON closings. That process goes like this:

  1. The paper closing documents are delivered to the borrower/buyer/seller (via overnight mail or emailed)
  2. The notary examines the government-issued photo I.D. using audio-video technology
  3. The notary uses audio-visual technology to witness the borrower/buyer/seller while signing documents
  4. The borrower/buyer/seller returns the document to the notary (via mail or in person)
  5. Upon receipt of the package, the notary ink-signs and physically applies their notarial seal/stamp to the documents

RONRemote Online Notary. A law passed in Michigan, passed in 2017 which allows notarial documents to be signed electronically with the notarial seal being applied electronically (instead of ink-signed as in AVON or RIN), using online audio-video technology on a Secretary of State approved platform.

Do you have more questions? Contact your Capital Title branch for answers!

 

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