How has COVID19 and Stay at Home order from the Governor of California affected Foundation Escrow business practices?
Foundation Escrow is considered an essential business and we are open for business. We have set up our team to be able to work remotely from their home. We are taking all the necessary precautions to keep everyone safe. We are using technology tools to help make the escrow process more efficient. We have all the capabilities with our business continuity plan to continue to make buying and selling simple during these uncertain and difficult times. We believe, as a company, in SERVICE.
Due to the current business climate and ongoing Covid-19 crisis, Foundation Escrow is requiring all Earnest Money Deposits and Closing Funds to be sent via wire. This will allow a safe and secure money transfer.
At Foundation Escrow, the only documents that need to be signed with a notary are the Grant Deed and Loan Documents. Everything else can be signed digitally through our e-signature platform, DocuSign. Notary services are still considered essential business and signings are continuing to happen at the discretion of all parties involved. In efforts to continue to provide the best closing experience for our clients, we have a Nationwide loan document signing service with a database of thousands of notaries throughout California, willing and able to work. Notaries are required to follow National Notary Association COVID19 requirements. We are taking the following safety precautions for every notarized signing if possible:
- Patio or Porch Signings available for outdoor signing appointments
- Requesting all Notaries to wear masks and gloves if available
- Using hand sanitizer and/or wipes at the signing site if available
- Providing new pens to each signer for each closing or signers can use their own blue ink pen
- Recommended for signors to sanitize their thumb before placing thumb on the ink pad and then sanitize after thumb print
- Practice CDC recommendations during loan signings such as social distancing, washing hands frequently between appointments, avoid touching face and open communication if parties are sick or have traveled outside the country
The best practice is for all parties to have open communication to what makes the signor and notary feel comfortable for the signing. The health and safety of the client and everyone involved is our number one priority and we will ensure this by customizing the notary experience with every signing.
How is Foundation Escrow processing and closing escrow files working remotely? How are escrow documents being signed and completed?
Foundation Escrow has been a paperless escrow company for over 5 years. The current business environment has heightened the need for electronic signatures and digital escrow files. Through our software and platform we are able to process and close escrow files remotely. Through Docusign we are able to have escrow files signed electronically mobile or desktop. We are fully functional working remote.
EMD’s & Closing Funds
100% Remote Escrow
Custom Notary Signings