Is the Rush to Enact RON Laws and Rules Creating More Confusion in the Mortgage Industry?

Recently we have heard about states rushing, by way of executive order or rule change (NY, NH, CT) and with hastily passed legislation (NJ), to permit remote online notarization in their states. The motives are clear and the intentions are good: the ability to close loans while limiting human interaction is critical at this time […]

Data Privacy and Security Issues for Mortgage Industry Professionals in the Temporary Work at Home Situation

The mortgage lending industry has faced severe financial threats and incurred significant financial harm due to data security and data privacy breaches. These breaches have resulted in wire fraud, data theft and identity theft in the past few years. The industry has previously come together and incorporated tools and policies to combat the issue, however […]

The New Mortgage Closing Etiquette, and a Word or Two about E-Mortgages and E-Closings

In the midst of the current COVID-19 health crisis, lenders and settlement agents who schedule and conduct mortgage loan closings where a small group of people typically gather to sign documents and finalize a transaction should consider adopting a process that offers a safe place to conduct business. A suggested checklist might include the following: […]

Coronavirus Creates Potential Recording Delays that May Impact Mortgage Closings

With the latest news that towns, cities, counties and in some places entire states are shutting down as a precautionary measure to prevent the spread of COVID-19, concern is rising that the inability to record notices of settlement, deeds, mortgages and mortgage satisfactions will upend the closing industry. In order to successfully conclude the closing […]

CPL or Bonds and Insurance: Which is More Important to Verify Before Doing Business with a Closing Agent?

Many lenders mistakenly believe that as long as they receive a closing protection letter (CPL) from a title agent or closing attorney then they have nothing to fear about a loss that may occur at the closing table. These lenders may collect an agent’s insurance certificate or declaration page but take no steps to verify […]