Grid151 Acquires Simply Secure Sign

Grid151, a Pennsylvania-based technology provider for the mortgage and real estate industries, has acquired Simply Secure Sign, an eClosing technology platform.

Grid151 offers a platform that enables users to launch, scale, and connect to the entire real estate, mortgage lending, and title and settlement ecosystems.

This acquisition will allow Grid151 to integrate Simply Secure Sign’s eClosing solutions into GridBase, its universal API for lender and title collaboration. The platform will also be renamed “Ink’d.”

Adding eClosing solutions to GridBase is the next step in giving lenders a full suite of connected products with just one simple integration.

Simply Secure Sign is a digital closing platform with digital signature and Remote Online Notarization (RON) services. It is vendor-agnostic and supports all types of electronic closings with any and all title and settlement providers. Up until today, Simply Secure Sign’s largest user was Mortgage Connect, L.P, a prominent national provider of mortgage services.

The acquisition of Simply Secure Sign comes amid a wave of remote online notarization legislation in different states. Massachusetts’s Gov. Maura Healey signed legislation legalizing RON last March, and California might pass RON legislation soon.

RON is a process that allows individuals to sign documents electronically in the presence of a remote notary public.

This can be done through a video conference or other online platform. RON has become increasingly popular in recent years, as it offers a convenient and efficient way to sign documents without having to travel to a notary public’s office.

The acquisition of Simply Secure Sign is a significant development for the mortgage and real estate industries. It will make it easier for lenders and title companies to offer e-closing solutions to their customers.

Additionally, the acquisition comes at a time when RON is becoming more and more widely accepted.

Here are some of the potential benefits of the acquisition of Simply Secure Sign:

• Increased convenience for borrowers: Borrowers will be able to close on their loans without having to travel to a notary public’s office. This can be especially convenient for borrowers who live in rural areas or who have difficulty traveling.
• Reduced costs: Lenders and title companies may be able to save money on eClosing transactions, as they will not need to pay for the costs associated with traditional closings, such as notary fees and printing costs.
• Faster closing times: eClosing transactions can be completed more quickly than traditional closings, as there is no need to wait for borrowers and other parties to meet in person. This can be beneficial for borrowers who are trying to close on their loans before a specific date, such as the end of a month or the start of a school year.