Hi. I live in Viriginia and just got my eNotary commission. I signed up with a couple companies to see what their services look like: SIGNiX, DocVerify, and Secured Siging. Pros/Cons:
CONS: They’re expensive. They charge $100 for the electronic seal, plus membership fees. They also have a weird pricing structure. Your monthly membership includes a certain number of documents. You have to buy more “document credits” if you need to do additional signings.
PROS: it’s the most robust website of the 3. It has everything you need for remote signing: video/audio recording, instructions by state for using their eSeal (important in Virginia because I had to get a seal before I could get my eNotary commission), you get the fillable pdf creator, and the interactions with clients is extremely straight forward. Plus, most real estate businesses seem to use this already.
SIGNiX: CONS: the website organization is…immature. I found it very frustrating, but their customer support is excellent, so they compensate. When you sign up for the website, they made it a lot more complicated than anything I’ve used. Instead of a typical internet form where you enter your information, they have you digitally sign a contract. Then you get an email later from the billing team. Then you get another email when your account is officially created. Then another email with training information. Uploading your seal is weird. When you login your account, you can’t see any information on your electronic seal. You have to start a template and save your signature. Then you add yourself to the form as a “notary” and when you do that, apparently you have a seal available. HOwever, I needed additional information to get my Virignia eNotary commission and I still can’t find it on the site. So basically, the first time you do a signing is the first time you’ll know that your seal is there and functional. There’s no way to check it before. I’ve emailed their team about all these issues, and hopefully they’ll get it worked out.
PROS: As i mentioned, customer service is excellent. I think they’re a young company and still working out the kinks, so it’s all good. Their pricing structure is reasonable. They charge a $250 annual membership fee. Per loan signing, they charge $10 for the first seal, then $5 for each one after. So if you charge $200 for a signing, you walk away with at least $150. In Virignia, we can charge $25 for any regular notarial act, so I’d away with $15-20 per seal. It makes sense. Also, they have a TON of instructional videos that show you going through a signing process, which makes me feel better about going into my first signing with the platform.
Kind of a neutral note: SIGNiX only stores your signing information (audio/video and documents) for 90 days. So you have to make sure you have a place to store them. No big deal, but it’s something to be aware of if you don’t have a cloud service you like or a large hard drive at home.
Secured signing: CONS: right now, this looks like they only do digital signatures not Notary. However, I bring them up becasue I mentioned the Notary business to them, and they’re looking into it.They were comparably priced to SIGNiX and their website was superior. As soon as they get the Notary functions added, I expect to use this service.
Hope this helps. Do you know any title companies looking into remote LSAs? Since i live in DC, it’s really hard to get around. I’m very interested in the remote aspect of loan signing