The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

In a purchase market, rookie LOs may struggle

Rookie LOs in 2020 could ride the refi wave and rack up a hefty monthly paycheck without Herculean effort. But these days, they'll have to sing for their supper.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

With a rise in natural disasters, including wildfires, hurricanes, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Politics & MoneyRemote online notarization

RON legislation passed in Illinois, New Jersey, Oregon

Legislation also pending in New York, New Hampshire

The use of remote online notarization is now permitted in Illinois, New Jersey and Oregon, bringing the number of states with RON legislation up to 37.

Legislation is also pending in New York and New Hampshire, according to the American Land Title Association.

The only states to not pass RON legislation to date are California, Mississippi, Alabama, Georgia, South Carolina, North Carolina, Delaware, Connecticut, Rhode Island, Maine, and Massachusetts. A bill has been introduced in Georgia (House Bill 344) and in South Carolina (Senate Bill 486) but no action has taken place since.

RON is not currently allowed in Washington, D.C.

In May, senators Mark Warner (D-Va.) and Kevin Cramer (R-N.D.) reintroduced federal legislation that would allow RON nationwide. Dubbed the Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act, the bipartisan legislation would permit “immediate nationwide use” of RON by every notary in the United States. It would also require the use of tamper-evident technology in electronic notarizations, and help prevent fraud through the use of multifactor authentication.


Solving the Post-Close Challenge with Intelligent Automation

Join us as SoftWorks AI CEO Ari Gross and Avanze CEO Auvese Pasha explore the advances in technology that allow for greater levels of automation and cost reduction, especially in support of post-close and pre-fund review.

Presented by: SoftWorks AI

“ALTA continues to support the bipartisan SECURE Notarization Act,” the company said in a statement. “The bill would permit immediate nationwide use of RON, create national minimum standards for its use, and provide certainty for the interstate recognition of RON.”

When the COVID-19 pandemic hit, many states issued temporary executive orders to authorize the suspension of its requirement that the principal persons involved in notarization physically appear before a notary, and began allowing notarizes to view the singing of a paper document through an audiovisual communication tool.

Adoption of remote online notarization then soared 547% in 2020, with Florida, Texas and Virginia reporting the most RON usage in that timeframe. Usage in the Midwestern U.S. has also risen, ALTA reported.

The number of title and settlement companies offering digital closings increased 228% compared to 2019, according to ALTA’s 2021 Digital Closing Survey. The survey of 300 title professionals showed that 46% offered digital closings in 2020 during the pandemic. Prior to the health crisis, a 2019 survey showed that only 14% of companies offered digital closings two years ago.

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