The COVID-19 pandemic has caused millions of people to experience a significant decline in their incomes. Although the CARES Act allowed homeowners to seek mortgage forbearance for up to 12 months, that protection is set to expire for most borrowers by the end of April 2021. Despite this, few financial professionals expect a significant number…
Home sales during the pandemic are strong, and buying will only get easier. It’s no secret that COVID-19 has left a trail of economic ruin in its wake. From sky-high unemployment rates to ongoing bankruptcies, the global pandemic has wreaked serious havoc on the U.S. Fortunately; there’s some light in the darkness. With favorably low…
The Digital Revolution Is Permanently Changing the Real Estate Landscape The COVID-19 pandemic has caused a fundamental shift in how home sales are conducted. Instead of visiting a home in person, buyers are more likely to take an initial tour virtually. Furthermore, buyers and sellers are more likely to ask that documents be sent, edited,…
What Lenders Need to Know About Remote Online Notarization Acceptance Understanding County/State Acceptance Rates With remote online notarizations becoming increasingly more prevalent, lenders have to adapt to this modern technology. Not only do they have to learn the ins and outs of this cutting-edge application, but they also have to grasp the stipulations that come…
Virtual notary adoption surges as businesses rush to close transactions remotely. When COVID-19 devastated the U.S. nearly a year ago, many industries were forced to adapt. To protect public health and adhere to CDC guidelines, COVID-safe alternatives became increasingly more prevalent. Remote online notarization, for instance, has taken the industry by storm. As the pandemic…
Over the last nine months, COVID-19 has upended the world. Title companies are no exception. With interest rates at record lows, people are buying homes like hotcakes, and never mind the pandemic. Title companies have traditionally stayed in the background during a closing. Now, they’re in the forefront, and their mission is to execute a…
The coronavirus has impacted everything. The title insurance industry is no exception. Like everyone else, title insurance companies are wondering where the road ahead is going. Historically, hazard insurance premiums and losses have been highly correlated with economic activity. This is particularly true for title insurance companies where losses are highly correlated with the real…
The novel coronavirus has turned the 2020 real estate market into uncharted territory. The topsy-turvy industry has been impacted by record-low interest rates, shelter in place mandates, social distancing protocols and working from home. People are leaving the big cities behind and getting ridiculously good deals on homes in smaller communities. The challenge has been…
Financial and real estate service companies use notarial services to protect business transactions against fraud in many respects. Signing agents verify individuals identity through identification cards and signatures that match to prevent identity theft that undermine transactions and result in title insurance claims and other consequences. In recent years and during COVID, these critical services…
Anyone planning to buy a house should prepare for a relay race. So says David Watts, a notary public in Vancouver, British Columbia. Watts is the vice president of the Society of Notaries Public of B.C. (SNPBC) and has worked as a notary since 2006. According to Watts, the first lap of the race involves…
As you look to create a compliant notarization, you should keep up to date on the laws in your state. This is particularly important as the COVID-19 pandemic continues to cause related changes to occur much more quickly than would have otherwise been the case. Is a Personal Appearance Required? It has been commonly required…
A Paramount Duty It is the duty of every notary public to ensure that he or she does not discriminate based on religious, cultural or gender affiliations against individuals requesting services. However, sticking to this rule can be difficult when someone is wearing a facial covering. This could be the case for women who wear…
