Quicken Loans and Amrock Partner for North Carolina’s First Online Remote Mortgage Close
DETROIT, July 17, 2020 / PRNewswire / – Quicken Loans, the country’s largest mortgage lender, along with Amrock, the country’s leading eClosing provider, completed today that of North Carolina the very first mortgage closing by remote online notarization (RON). With the recent adoption of the law on emergency video notarization in North Carolina enabling the implementation of RON eClosings, the precedent was set for consumers and state notaries to securely sign electronic documents remotely from different locations, creating a convenient and secure solution for all parties involved in the mortgage transaction.
Modern technology continues to transform a process that has always been heavy and paper-intensive into a simple and seamless experience. RON is a convenience under normal circumstances, but it has become a necessity in these unprecedented times of social distancing as we focus on our clients ‘health and safety’, said Jay farner, CEO of Quicken Loans. “Pioneer of this technology in North Carolina was a priority for Rocket Mortgage. We are constantly providing digital solutions to outdated problems and we continue our mission to get RON adopted in all 50 states. ”
In 2019, Quicken Loans became the first mortgage lender to offer eClosings in the 50 states. Amrock successfully completed 85% of all electronic notes in the United States in 2020. Consumers across the country can work with Quicken Loans and Amrock to close a close, although eligibility for electronic close varies by location. the laws of each state and other factors.
The spread of COVID-19 has highlighted the need for digital solutions in the mortgage industry, allowing notaries to perform their duties without having to sit in front of their client. Currently, 26 states have legislation in place to allow RON eClosings, and 17 of them are actively conducting them today. The rest of the states have enacted emergency legislation or executive decrees providing temporary permissions for notaries to perform electronic closings of some sort – including North Carolina.
“We are focused on innovations that eliminate the problems associated with mortgage transactions and make the process easier for the end customer,” said Brian Hugues, CEO of Amrock. “I salute that of North Carolina The Secretary of State’s efforts to bring the mortgage closing experience online and enable clients and closing agents to work together quickly, securely and securely. “
North Carolina Secretary of State Elaine F. Marshall is an active advocate for electronic closures in North Carolina. Its long-standing mission is to bring state business practices into the 21stst century. A critical aspect of this is creating an environment for fast and secure home buying experiences for consumers, notaries, and lenders.
“that of North Carolina Many years of leadership and preparation to make electronic closures an important option for consumers has never been more important than it is now in the face of this global pandemic, ”Secretary Marshall said. “Passing the temporary emergency video notarization law was paramount to ensuring vital real estate and business transactions could progress, while taking into account the health and safety of all involved. I congratulate Quicken Loans and Amrock for taking this big step forward here in North Carolina. ”
that of North Carolina the first RON eClosing was carried out for a member of the Quicken Loans team living in Asheville. Amrock has partnered with Brady & Kosofsky, PA, a real estate law firm located in Matthews, North Carolina, to serve as signing agent.
Amrock is a leading national provider of title insurance, real estate appraisals and settlement services. The company offers FinTech solutions to streamline the real estate and mortgage experience for lenders, consumers and real estate professionals.
Amrock is a preferred supplier to leading retail mortgage lenders, with a broad base of clients in the residential and commercial real estate finance industries. Led by thousands of professional partners and team members nationwide, Amrock is headquartered in the heart of downtown Detroit, Michigan with regional service centers in California, Pennsylvania and Texas and additional locations in several other states.
About Quicken Loans / Rocket Mortgage
DetroitQuicken Loans, the nation’s largest mortgage lender, enables the American dream of homeownership and financial freedom through its obsession with a cutting-edge digital customer experience. The company has closed $ 145 billion mortgage volume in all 50 states in 2019. In late 2015, Quicken Loans launched Rocket Mortgage, the first fully digital mortgage experience. Currently, 98% of all home loans issued by Quicken Loans use Rocket Mortgage technology.
Quicken Loans moved its headquarters to downtown Detroit in 2010. Today, Quicken Loans and the Rock Family of Companies employ over 19,000 full-time members in Detroit urban core. The company generates loan production from web centers located at Detroit, Cleveland and Phoenix and operates a centralized loan processing facility Detroit. Quicken Loans has been ranked # 1 in the country for customer satisfaction for primary mortgage origination by JD Power for the past 10 consecutive years, 2010 – 2019, and also # 1 in the country for customer satisfaction. customer base among all mortgage agents in the last six consecutive years, 2014 – 2019.
Quicken Loans was once again named to FORTUNE Magazine’s “100 Best Companies to Work for” list in 2019 and has been included in the top third of the magazine’s companies on the list for the past 16 consecutive years. In addition, Essence Magazine named Quicken Loans “The Nation’s # 1 Workplace for African Americans.”
For more information and company news visit QuickenLoans.com/press-room.
SOURCE Quicken Loans