Jesse Yamagata 00:09
Thank you, everyone for joining us today.
Today our webinar is going to be hosted by John Connell. He is the COO of Notaroo and has been working the last decade in operational management and for a variety of technology organizations and he is extremely passionate about modernizing the reverse mortgage industry in providing technology platforms that will be of great use to you and to the industry at large.
And we’ll start passing this over to John to get better with the webinar. Thank you so much.
John Connell 05:19
Excellent. Thank you, Jesse.
And warm welcome to all of our attendees on the webinar today, really looking forward to sharing a glimpse of notaries unique solutions that are serving today’s mortgage lenders. And I also want to acknowledge we have a very diverse group of attendees and are so appreciative of the entire ecosystem of the loan management process being part of today’s webinar. So a real quick, you know, introduction context around notary, we work with all parties that are involved in the loan signing process.
That’s spanning lenders, brokers, escrow companies, notaries attorneys, notaries unique in its full service management of the app to close process, we connect lenders, escrow signing agents through this shared experience of the signing process. If you’re a signing agent, I’m going to take a quick opportunity here at the beginning of this, to say that we’re so glad that you’re part of this attorneys, notaries that have worked with Notaroo in the past, hopefully, we get a chance to work with you more in the future.
But we’re going to be introducing a new application just for you called the signed app. And it’s gonna be launching here before the end of 2022, designed specifically for you. And while it launches with the basic functionality of order management, and you know, personal profile dashboard, as you can see here, just a little bit of a snapshot of what that’s looking like, as it says in test mode right now, we’ve already developed a feature roadmap, which is going to include things like direct communications back to Notaroo, or to the client as well, it’s gonna have payment solutions directly built into the solution, ratings and reviews that you can use to participate in that signing event, as well as the introduction of integrations to meet the growing interest in Ron and hybrid technology solutions. So this is going to be an exciting launch for us here over the next couple of months. Again, we’re in testing mode right now internally looking forward to actually doing a beta test with several of you, as you get the chance to experience what this looks like to improve the efficiency of that signing process.
And we’re gonna save a lot of that for an upcoming webinar that we’re going to be hosting in a few months as we get a chance to really detail the ins and outs of that. So look forward to presenting with you again on that. But no further ado, let’s go ahead and jump into today’s conversation, where we’re helping the mortgage lenders automate the loan signing process. So what we came to realize is the burden that is on today’s lenders to manage the complete signing process in an efficient and secure manner. This is the most apparent in the reverse mortgage loan process.
Any of you that have participated in reverse mortgages, understand the complexities that are associated with this, with our experience as a notary coming out of this market for many years now, going back to Todd Ostrom in today’s in this space, specifically around reverse mortgages, we had a good understanding of the challenges with an aging demographic, and an extensive signing process that is so unique to the reverse mortgages. So we felt that it was important that we invest the time. And we invested countless hours building, testing and optimizing a loan signing platform, and one of the most robust technology solutions today called Salesforce.
But simply building another piece of technology wasn’t really our goal, unless it helped to bring efficiency, insights and security to the entire process. Here, we introduce the Notaroo partner portal. So as you can see here, we spanned that app to closed process and our integrations between Salesforce and the partner portal that is directly in use by lenders today, through our integrated systems that you see here, and those are built on the Microsoft technology application. And we work in conjunction with some of the primary title companies today and their software of reservoir and qualia.
And then as you see there, we’ve got our application that is now being brought into the mix to completely streamline this process. So first thing I want you to note is with this partner portal, we’re really targeting the lenders through this process. This is where it all began. So this is where the application gets submitted to us for the signing process. So we’re excited to be able to launch with Salesforce. Again, it is a robust platform that is proven to be worthy of the security and the functionality that we needed to be able to launch in this space. So I wanted to speak real quick, because we understand that this is a complex process.
And many of the organizations that we work with as lenders are also complex in their makeup. So I want to let you know that we are flexible to be able to accommodate your size and structure as a lender. What this means is, if you are a single branch lender, we can easily put your team into a single instance for ease of access and visibility. If you’re a multi branch firm, we can create a hierarchy where executives and managers can have visibility to their loan officers, but loan officers will have individual visibility to their own loan orders.
So now that we understand that a little bit, let’s take a look at the actual application. And I’m going to walk you through a bit of a demonstration on how this application actually works. So let me switch my screen over here for a minute. Okay, team, let’s take a look at this real quick. So what we have here is our dashboard. This is where as you log into the partner portal, you start to begin to experience what this is able to offer for you in a very streamlined, simplistic, and efficient way. So the first thing I want to draw your attention to is your loan orders. So these are loan orders that you have created into the system.
And it maintains a log of them here with hyperlinks that you can jump right to those one orders to see where the status is. You can see also any monthly signing completions that have been done today. Today’s loan order statuses as well as any pending loan orders for the existing month. So again, this is intended to be just a snapshot for you to see what’s going on in your business today.
The real meat and potatoes of this though is in the Quick Create the Quick Create gives you that one step simple way to be able to input the loan order information, so that that can then be delivered to Notaroo to be able to begin the signing management process. So we’re going to walk through a situation real quick. So as I put in here for account name, you will then put in your account name, and as you can see here, it’s linked and defaulted to yours.
So just quickly tap on that inserted into that box borrower name. We’ll use Miss Vanna White since I am Mr. Bob Barker. You then have your order number. Now I know that sometimes there is not a loan order number that is initially known at this point. But we’re gonna go ahead and you can either use the default here of the five zeros or you can simply override that if you do have an existing loan order that you’d like to attach to this borrower phone number signing date to this will occur on bar Baro email, if not if known.
And as you can see here, it does not have a red asterisk next to it. So it’s not a required field. Signing Time, again if known. Signing type and I’m gonna grab this one here that is loan application reverse with scan backs. And I’m going to mark the scan backs box here. This is something that we like to be able to offer to our clients as a way to be able to do electronic scan backs many times is very helpful in the review process. So we’d like to be able to afford them that if we can and then the closing location. Okay, it is as easy as that.
Once I hit my CONFIRM button here, it’s going to create a loan order, it’s going to automatically notify a notary. And we’re going to get to work for you and managing and assigning the most applicable signing agent to this order, and then return into details. So I’m not going to click this here because it will fire off to our team and they would get to work on assigning a notary to this. But I do want to jump back and I’ll show you one that is actually in process right now. So that we can take a look at what does the loan order detail look like?
Because there’s a lot more information that you could provide and will provide in the course of generating this loan order. So taking a quick scroll down one of the things that we love most about this layout is what we affectionately call the pizza tracker. So if any of you have ever ordered from Papa John’s or Domino’s or something like that, you’ll know that they have a tracking mechanism that tells you where it is in stage, we’d like to be able to give you that same visibility so that you can see where this loan order signing is in process.
You’ll see that wants a signing agent has been assigned, this checkbox will be denoted here, you see further down that you have other available data points that you can put in here that will only help in the signing process. Some of the things I want to point out here real quick are key observers, many times you have the need to be able to put another loan officer on this order. It’s as easy as adding a key observer selecting the individual that you want to assign to this so that they received notifications as well in the loan signing process.
Click Next. Give them a role, type. And save. And now we have Adrian Scott, that has been assigned as a loan officer to this order. So now Adrian will receive these notifications as they come across. As we scroll down here, and actually I will jump back up in just a minute to the signing details.
That is one of the most critical points of this. But as you’re filling in information here, some things to remember is we do have the ability to be able to have and to field special instructions. So if you know that there are critical things that you want to pass along to the signing agent, you would simply edit this field. And as you can see here, I’ve already put in, please remember to scan IDs and Send immediately. This is a great way of just doing a flagged reminder to the sign agent of those critical pieces of documentation or notes that you would like to convey to this user. Click Save on that. And those special instructions are saved there.
Signing agent notes would be any notes that the signing agent has, from their experience added to this. And this is the field in which they would show up in. Now, if needed, you can also designate the subject property, you can give the property location, or you can just simply click the box for same as signing location. And that will pre fill in that information for you.
Two last points of information that are going to be critical for this and that is the documentation that’s needed for this. So this would be your loan application and where you would add that. So I would simply add files, I would grab that package. And I would happen to pick the same one that is already in the file. So let me add a different one for you. There we go. So now we have that file on there. As that’s added, that automatically gets sent to nota Roo, and it gets appended to the signing agents package so that they now have their complete package to be able to go out for the borrower signing in this process. Last thing I’ll point out is the point of signing details.
Signing details is where the information that we assign shows up on this loan order. So as we assign the signing agent to this, their profile information gets put in here as the confirmation and the signing, the actual event takes place. All those statuses will then move through this same box of information here on your site, documents statuses, inclusive of tracking information, whether you use FedEx or UPS doesn’t matter.
Once they denote what that tracking information is and who the carrier was, that automatically gets inserted here as well. So all this information is going to be your home to be able to go and to see and have visibility to what has transpired in the signing process.
So once we go through this process, and as Notaroo feeds this information back in up to the point of completion, that’s where you would see this status move all the way to the end and get completed on its own. And this loan order is now complete, ready for invoicing.
And we can move on to the next loan order. So that is really the crux of the partner portal and what we have to offer through this interface. Again, we did not want to build in complexity to this. We want it to be the most efficient, seamless application for you. As you’re using this this object So I’m going to pause there now. And Jesse, I’m going to invite you back on the screen. And would love to field any questions that have come up.
As you folks have kind of processed this. Again, it’s not a complex system. But certainly I’m sure that there are questions as to how Notaroo uses this and how you as a client could use this in the process.
So Jesse, I’ll turn it over to you.
Jesse Yamagata 20:29
Thank you, John. We do have a couple questions.
And the first one is, what is the preferred way to create a login or an account for a new client or the portal? Are there best practices associated with creating a login or an account?
John Connell 20:50
Yeah, absolutely. Great question. So again, we have a way to be able to handle the complexity based on how your team is structured.
And so my recommendation to you would be if you can function under one login, let’s just say it’s a team email that you would typically receive responses back by email, that’s a great way to be able to set up a single license where all your processors all your loan officers have a way to be able to access and input loan orders. However, if you do have some complexity to the way you’re structured, I would say that we have an alternative with setting up individual logins.
If you even have more complexity, where maybe you have branches, and so you have loan officers that are part of an individual branch, and you have a manager who would like to have visibility to all their loan officers, we can set it up in that tiered hierarchy of a structure. So we can accommodate you whether you have a team email, or if you have individual emails, or if you have individual emails that respond to an individual manager, we can handle all of those.
So we simply need names and emails, and we can set up those licensing accordingly.
Jesse Yamagata 22:06
Okay, thank you. Our second question is, how do you view your order history? Or can you view your order history in the portal?
John Connell 22:16
Absolutely. Great question. So at the top bar, here, you’ll see home and loan orders. So as I go to loan orders, I can see all of my historical loan order entry. As you can see, here, we’ve got a ListView is what we call it, that says recently reviewed, you can hit that drop down beside it. And you can see a number of ways that you can structure this.
So if I wanted to see all loan orders, I simply click on that. And it structures all of my loan order history for me here to which I can go through and I can then manage this in any visible way that I’d like to.
Jesse Yamagata 22:58
Awesome, thank you. Third question is, how do we choose a notary assigned to a loan order?
John Connell 23:08
Very good question. It is, I believe what sets Notaroo apart from any other signing management company, and it is the way in which we look at their credentials.
The way that we looked at their experience in this industry, again, reverse mortgage is no small feat, we understand that there has to be individual acumen on their part to understand this industry and the aging demographic that we serve.
And so what Notaroo does is, once we have identified the candidates that we would like to see assigned to this, will send out an SMS a text survey, which will require them to first say Yes, I understand that this is a reverse signing. If they say yes to that, that they do understand it, then we follow up with a second text message. And that is walking through the various hot buttons of a reverse signing, to which they have to answer yes, to all of those.
If they have any question about that, then we receive that information back, we have a chance to be able to interact with them to see if it’s just a simple misunderstanding.
Or if there’s a bigger training event that needs to happen that we can facilitate. Or if they’re just simply not comfortable with it, then we’ll work with the next candidate in line who is actually appropriate for that signing. So we take this very seriously that we want to make sure that this is not just a typical forward or a refi notary or attorney.
So a little bit more basic in its approach, but given the detail and the nuance with the reverse, that’s where we pay a little bit more attention to those.
Jesse Yamagata 24:49
Thank you so much. Okay, we have a follow up question. It looks like we are targeted on reverse mortgage industry. Can this be used for forward On orders as well?
John Connell 25:02
Absolutely, absolutely. So, we presently are about an 80% to reverse mortgages 20% to the to the reefers and the for purchases, we absolutely have a network of notaries and attorneys across the nation that are we’ve worked with over the last two and a half years to be able to service that market as well.
Obviously, reverse is getting a lot of attention these days. It’s been our niche for a while, but we do understand the Ford purchase as well as refi market to be able to complete those as well.
Jesse Yamagata 25:43
And we have one more question here. Give me one second. We have someone who says we they already have Apollo setup in Salesforce to manage on orders. They would like to know how can they utilize our service with their distantly or existing technology available to them?
John Connell 26:04
Sure, yeah. Great question.
So Apollo, if that is unfamiliar to the rest of our audience today, Apollo is a CRM that is used, and it’s built on Salesforce as well. So it’s actually a native Salesforce instance of a loan management system loan origination system. And so we have actually just launched a couple months back now through the AppExchange in Salesforce.
So if you’re familiar with a Salesforce as a Salesforce user, you’ll understand it, that it AppExchange is where you can go and find countless third party integrations with applications. And so we’ve launched what we call the Notaroo LMS, or notary management solution (NMS) in Salesforce. And that will then integrate directly with the Apollo instance.
So that they can not only originate those loans, but as soon as it’s originated, they’re going to get the same functionality that I demonstrated today in the partner portal, in their Apollo instance directly. So that’s a basic integration that is available through the App Exchange, would love to talk to anybody who has interest and is using the Apollo CRM today.
Jesse Yamagata 27:23
All right, okay. We have one more question every time he asked when they added. So someone asked, What does this cost? Is there a subscription free transaction fee? Anything like that?
John Connell 27:37
Yeah. Great question. So right now, because we are really in the mode of earning confidence within this market. We are not charging for the use of this application today.
There is the same transactional fees associated with doing the actual notary attorney management and the signing process. And of course, those vary based on the type of signing that it is. But we would be glad to talk with you about what you’re currently paying today. And how we can make that an easy switch for you. That’s manageable.
Jesse Yamagata 28:16
All right, awesome. If there’s any other questions of we have time for a few more, if there’s any last minute, comments, if not, thank you so much for attending today and participating in the webinars slash demo slash seminar.
And we’d love to hear from you and in the future. And some if you’d like to do a closing statement, that would be wonderful.
John Connell 28:50
Absolutely, yeah. And I’ve just bounced back over here to a QR code that you can scan. I’ll give you a minute to process that with your cell phone if you have it available. And if you have interest in furthering the discussion with notary Jesse is one of our account representatives, as well as Andre Lopez. I, myself would love to have a conversation with you as well, especially if you have conversation around. Do we integrate with other platforms that exist in the market today. But we’re excited to be able to service this industry. These are interesting times that we find ourselves in, but we view ourselves as a partner, to you as lenders and title companies that are being represented here today. And we’d love to continue that conversation.
So feel free to scan this. Reach out to us I can be reached at email@example.com. Jesse will provide her email for anybody that may be of interest as well. And we look forward to the next webinar where we get a chance to showcase our signed mobile app for our signing agents. So without further ado, Hope you all have a wonderful rest of your afternoon. And we look forward to seeing you again.
Jesse Yamagata 30:08
Thank you so much, everyone and have a wonderful, wonderful afternoon, and I look forward to contacting you soon.
John Connell 30:16
Thanks so much. Take care.