Can mortgage or home equity loan transactions be executed via RON?
In states where RON is legal, mortgage and home equity loan transactions can be executed utilizing RON.
However, loans conforming to guidelines established by government-sponsored enterprises (GSE) may fall under separate guidelines and would require additional workarounds such as hybrid closings and/or in-person closings.
A financial institution could make internal policy changes allowing RON for portfolio (non-confirming / non-GSE) mortgage and home equity loans.
Schedule a demo to learn more about the LenderClose RON solution.