Tech Startup Notaroo Ready to Simplify Reverse Mortgage Closings With Remote Online Notarization

Puts new capabilities in place should FHA re-evaluate processes in light of COVID-19

​Tech startup Notaroo is poised to offer reverse mortgage clients Remote Online Notarization (RON) services immediately should the Federal Housing Administration alter guidelines to ensure closings can continue to proceed safely and efficiently in today’s climate.

With RON services in place, Notaroo clients will be able upload their information and documents into the Notaroo portal as usual, with both parties e-signing where necessary. To make the transaction possible, borrowers must simply possess modern browser software, a webcam, and valid identification.

In states that do not permit remote notarization, Notaroo will facilitate a hybrid or e-closing process with limited in-person contact.

“Our No. 1 goal is to ensure the health and safety of our clients and their borrowers while complying with all state and federal guidelines to ensure a speedy and successful transaction,” said Notaroo Founder and CEO Todd Ausherman.

Ausherman said it is highly possible that FHA will take steps to ensure that reverse mortgage loans can continue to close should there be an ongoing need for social distancing.

“At Notaroo, we’ve worked tirelessly to create a process for our clients that makes remote closings not only possible but seamless, should FHA take action,” Ausherman said. “We are set and ready to move forward should this change come to pass.”

Notaroo first launched in November with a mobile notary scheduling platform designed to bring greater oversight and control to reverse mortgage closings.

Its platform integrates its technology with reverse mortgage lenders, title companies and escrow companies’ specific preferences and requirements to make a more efficient and predictable experience for borrowers by keeping the key parties in a loan closing informed and involved.

When COVID-19 hit, Ausherman said his team immediately put guidelines in place for the completion of traditional notarizations that emphasize extra caution. He said that Notaroo will continue to stay current on regulations as they evolve to adapt to the current situation.

“Not only are many reverse mortgage borrowers in a high-risk category for COVID-19, but the reverse mortgage transaction process itself can be high-touch and lengthy,” Ausherman said. “It is critical that we – not just as a company, but as an industry – get this right.”

About Notaroo

Based in Phoenix, Arizona, Notaroo is a tech-focused company that aims to create a consistent and predictable loan closing experience by seamlessly incorporating a vetted and experienced mobile notary into its clients’ existing closing process. Notaroo is committed to ending the current, widely used system of arbitrary deployment of mobile notaries to borrower homes. The goal is to save mortgage lenders tens of thousands of dollars each month, while also providing a superior closing experience to their borrowers. For more information, visit

Source: Notaroo, Inc.