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RIN vs RON


RIN differs from RON, where the notarial documents are signed, stamped, and tamper-sealed electronically, in that a paper closing package is delivered to the borrower. The notary uses webcam technology to examine the borrower’s government-issued photo ID and witness the borrower ink sign the paper document. The borrower then returns the document to the notary (via mail, delivery service, or in person), who physically applies the notarial seal or stamp to the loan documents.


To avoid confusion, the GSEs also released minimum guidelines for RIN transactions, which call for the same level of security, identity-proofing methods and record maintenance used in RON transactions.


Your choice of using RON or RIN depends on what is currently legal in your jurisdiction and what your title insurance partners are willing to underwrite. RIN is considered an acceptable stopgap until a state adopts a RON law, but it may gain favor with lenders that are not yet approved to deliver eMortgages. The GSEs encouraged those lenders to use RON for notarization if it is available, and if not, to consider using RIN in jurisdictions where it is authorized. However, they also said they do not expect temporary state orders related to RIN to extend beyond the COVID-19 crisis – so stay tuned for more on the fate of RIN.

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