Loretta, that's a great question...I've only heard it called a rolled binding but found this link that calls it easy binding. My grandmother used to do it even for her heirlooms, she never did regular binding. She did blind stitch to the best of her ability rather than using a machine to finish. Mom doesn't like it and only uses purist methods. I'm kind of a mix of everyone I know who quilts. I pick and choose what works best for me rather than sticking to one specific type. For a really fast quilt I have rolled the binding and used my machine to close.
http://www.lorettaalvarado.com/binding.htm
Hope you find this site helpful for those interested. :D