ALTA Establishes Digital Closing Committee
January 1, 2019
ALTA’s Board of Governors approved the formation of a Digital Closing Committee, which will focus on improving and innovating the real estate closing space and collaborating with industry stakeholders on digital closings.
The new committee will identify the benefits and risks associated with digital closings to position the industry to solve problems and inspire innovative ideas. The committee also will develop tools and education about the various aspects of digital closings, and provide information about the availability of technological advances such as remote online notary (RON). The Digital Closing Committee succeeds the ALTA Remote Online Notary Taskforce, which focused its attention specifically on RON-related issues. The RON taskforce helped developed the ALTA-MBA model RON legislation.
“ALTA should be viewed as the industry leader in digital closings and innovation,” said ALTA President Cynthia Durham Blair NTP. “Transitioning the RON Taskforce to a standing ALTA committee with an expanded focus that encompasses digital closings and involves all segments of the association’s membership will generate important discussions on how title and settlement companies can approach the opportunities and risks of digital closings and the impact of digital closings on consumers, lenders and the government sponsored entities.”
For more information or to join the Digital Closing Committee, contact Elizabeth Blosser at [email protected].
Contact ALTA at 202-296-3671 or [email protected].