07.01.21

The New Notarial Glossary

The history of notaries public (aka notaries) is interesting and varied, including origins that can be traced back to the ancient Roman law, or to the 13th and 14 century English common law. In Roman times, notaries were public officials that were often traced back to Senate or to the court where their function was to record public proceedings. In England, early notaries were appointed by a representative of the Pope and were often members of the clergy. In the United States today, notaries are usually commissioned on a state-by-state basis and are generally utilized for validating signatures, administering oaths, and authenticating the execution of certain documents such as deeds.

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06.07.21

Nationwide RON Legislation Reintroduced

In May, Senators Mark Warner (D-VA) and Kevin Cramer (R-ND) reintroduced federal legislation designed to expand the use of Remote Online Notarization (RON) on a nationwide basis. The Securing and Enabling Commerce Using Remote and Electronic Notarization (SECURE) Act of 2020 was originally introduced in March of 2020. The original version of the bill stalled out and never made it past an initial introduction. There is hope that the reintroduction of this bill will gain more traction on Capitol Hill due to experience with difficulties entering into many transactions requiring notarization during the COVID-19 pandemic.

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05.05.21

More Notes on eNotes

eNotes in the News
The use of eNotes continues to expand across the mortgage industry. In May, MERS® reported that 44,170 eNotes were registered on the MERS eRegistry (as of the end of April 2021). There have now been over 1,155,052 eNotes registered since the inception of the MERS® eRegistry. MERS is also reporting an 83% year-over-year increase in the number of companies transacting on the MERS® eRegistry, (as of April 2021). The use of eNotes had already started to increase before the pandemic, but public health measures initiated as a response to COVID-19 surely accelerated the use of eNotes. This acceleration will likely continue as the mortgage market shifts away from refinances and pivots towards more purchase transactions as rates increase and the demand for housing remains strong.

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04.30.21

eClosing Masterclass: Navigating Closing Challenges in 2021

Recently, First American Docutech produced an informative eClosing masterclass webinar hosted by HousingWire. The event focused on helping better clarify the eClosing process and how lenders can get started to enable the optimization of the closing process as the demand for mortgage loans shifts emphasis from refinance to home purchase.

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04.15.21

eNotes – A Digital Lending Accelerator

The digitization of financial transactions continues to accelerate, just as cash is giving way to electronic payments, traditional paper mortgage processes are being replaced by digital mortgage processes.

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07.30.20

Partner Spotlight: Docutech™ and Glance® Make Digital Lending Personal

As the financial industry gets closer to its goal of embracing full digital lending, it’s important that lenders not lose sight of the fact that many customers still want to interact with a real person when they have questions or need assistance, perhaps even more so in today’s environment. This is especially true in real estate and home finance where the transactions are complex and fewer consumers have enough experience and knowledge to feel comfortable navigating the ins and outs of the mortgage process alone.

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07.28.20

Digital closings, RON acceptance, eNote Registrations and Investor acceptance gaining momentum in the midst of Coronavirus

While Docutech™ has been on the leading edge of the digital revolution for many years, the Covid-19 pandemic has accelerated the industry’s acceptance of eClosings in ways no one could have anticipated. Coronavirus has driven the mortgage industry to expedite plans to roll out digital mortgages. Every step of the loan process has had to adapt to a remote workforce and borrowers preferring to conduct business digitally.

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