Arichter, as a NC notary we can perform e-signings but not remote video signings. Our SOS is adamantly opposed to notarizations without the presence of a notary. That said, I find the e-signings are a win-win for both sides. Let me be clear, I am referring to total e-sign not a mixture of e-sign and hard copy. That is a lose-lose because you are doing a completely extra step by having to have some docs on hard copy and everything else that hard copy entails. Consider:
-No printing whatsoever
-No toner, clips or sign-here stickies
-No paper handling before and after the signing to apply or remove stickies.
-You never have to return home between signings to get the docs printed and marked-up.
Just drive to the next appointment
-No need for courier drop box or store-front
-The actual signing on a laptop proceeds extremely fast, just click the mouse over and over
-Fewer errors, the doc preparer stipulates where the signatures and initials will go, not you
-When you leave the borrower it's 'job done'
I can eliminate hours in travel and preparation time and can perform more signings in a given day. Now comes the gorilla, the 800 pound one. Because there is so much less effort and almost no use of office materiel the fees are becoming unstable. The signing companies are well aware of the increase in productivity and are paying less. Not too bad right now because it's up to the lender as to whether they e-sign or not so the e-sign volume is not that high and still finding it's place in the market. IMO, the fees can only go down.
Finally, even if lower fees can be made up by higher volume, where is this additional volume coming from? E-signing does not drive the market. The forces that do are beyond anyone's control. I see the number of signings remaining unaffected by a technological streamlining of the logistics. This could mean no additional business but lower fees.
I could be wrong but it just seems intuitive and it will be awhile before E-signing becomes enough of a player to actually start having any influence on the industry.