Digital notarization platform Notarize has announced a partnership with Ellie Mae, which seeks to extend the reach of its digital closing platform.
With the integration, lenders and loan officers will be able to access Notarize’s remote online closing services directly through the Ellie Mae Encompass digital mortgage platform.
“This partnership is an enormous step toward our vision to enable anyone in America to click to close on their home,” said Notarize founder and CEO Pat Kinsel. “Our mission is to help people get into their dream home faster and for less cost. Digitizing the closing is the last thing keeping lenders from meeting consumers’ expectations. We’re proud to partner with Ellie Mae to help lenders realize the vision of the complete digital mortgage process.”
(Read complete article.)
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Happy Holidays to all our PRIA Local attendees. 2019 has been a great year for PRIA Local. We've added many new Chapters across the country and we've revived several Chapters as well.
For those of you thinking about how beneficial it would be to take PRIA home with you and meet with all your business partners at the local level, we've compiled
materials for you to use, to make that as easy as possible.
A great resource is always to look at recently started or revived Chapters and their meeting minutes and agendas. New or revived Chapters started in 2019 include meetings in
Wisconsin
,
Michigan
,
Utah
,
Northern Nevada,
and
Red River Valley, MN
. You can check out their contacts, co-chairs, and all documents on their individual webpages. Feel free to duplicate their agendas for your own meetings. And of course you can contact
PRIA Local anytime to get ideas on topics, speakers, etc.
The newest Chapter to begin is in
West Central Florida. And their first meeting will be held on January 17, 2020, so if you're in the Palm Harbor, FL area, consider attending and supporting their efforts.
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Eighty percent of title companies are interested in conducting digital closings or have already closed some type of hybrid, electronic or remote online closing, according to a recent ALTA survey.
The survey of more than 800 title professionals showed that 44 percent are interested in digital closings, while 19 percent have researched vendors and applicable laws and 17 percent have already conducted some variation of a digital closing. Only 20 percent indicated they are not interested in digital closings.
While 14 percent of those surveyed currently offer digital closings, 42 percent indicated they have no planned timeline to offer these types of closings. Thirty-one percent plan to start offering digital closings in the next year, while 13 percent said they expected to begin offering digital closings within the next three years.
(Read complete article.)
NOTE: PRIA is sponsoring
a webinar on December 19 entitled: Why a Title Plant?
that you may be interested in. $25/non members and FREE for PRIA members. Sign up
here
.
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CSC, a leader in the electronic document recording (eRecording) industry, is pleased to announce the addition of 41 new counties in 23 states to its growing network in the third quarter of 2019. By providing a secure, web-based eRecording solution, CSC helps county recording offices and document submitters save time and streamline their workflows. The CSC eRecording solution now covers more than 252,221,694 United States residents and CSC represents many of the nation’s largest document submitters, including 8 of the top 10 mortgage lenders.
(Read complete article.)
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Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced that Simplifile set a new company record by eRecording 106,244 documents in a single day on November 12. Simplifile is part of
ICE Mortgage Services
which applies technology and high-capacity infrastructure to make the mortgage process electronic and thus more efficient.
Surpassing the previous record of 102,491 on Sept. 30, this is the second time Simplifile has recorded more than 100,000 documents in a single day. Simplifile’s eRecording network covers more than 80% of the nation’s population.
(Read complete article.)
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Those recording a deed or will or mortgage at the Washington County Clerk’s Office, like others across the state, will soon pay more for the service. What has been a $17 charge for the first three pages of a deed will jump to $50 for the first five pages, an increase of more than $4 per page, more than 76 percent.
A state law setting new fees takes effect at the beginning of the new calendar year. The law was passed after the County Clerk’s Association presented a bill to legislators. No across-the-board fee increases for county clerk recording services has been done in at least 10 years. The funds will enable the completion of projects in the office, and some revenue will go to the fiscal court.
(Read complete article.)
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excerpted from ALTA Advocacy Update by ALTA CEO/COO Diane Tomb, 11/18/19
"In mid-November,
the Financial Services Committee held a two-day markup of nine debt collection bills. Most of the legislation passed on party-line votes, making it unlikely that it will get consideration in the Senate.
Of note to ALTA members, one of the bills would apply the Fair Debt Collection Practices Act (FDCPA) to law firms or trustees that are conducting a nonjudicial foreclosure. The Non-Judicial Foreclosure Debt Collection Clarification Act (HR 5001) would overturn the recent Supreme Court decision in Obduskey vs. McCarthy and Holthus LLP. The bill is sponsored by Rep. Wm. Lacy Clay (D-MO), chairman of the Subcommittee on Housing, Community Development and Insurance.
Other bills considered during the mark-up would (1) prohibit debt collectors from contacting consumers electronically without consent; (2) expand the Fair Debt Collection Practices Act's protections to cover small business loans; and (3) clarify that FDCPA applies to the collection of municipal debts, such as traffic tickets. Two bills in the mark-up got unanimous approval giving them a higher chance of passage. These bills would stop debt collectors from threatening servicemembers with rank reduction and extend FDCPA protections to debt owed to federal agencies.
Along with the debt collection bills, the committee also approved by a party line vote a bill to prohibit "confessions of judgement" clauses in small business loan contracts. These clauses were recently banned in New York after a series of news articles. There was also a unanimous vote to expand the HUD-VASH program to homeless veterans with other-than honorable discharges."
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CONTENT DISCLAIMER
The views and opinions expressed in the media, articles, comments, or links in this publication are those of the speakers or authors and do not necessarily reflect or represent the views and opinions held by PRIA or its members. PRIA does not warrant the accuracy, timeliness or completeness of the information contained in this publication. If you have a complaint about something you have found in this publication, please contact PRIA by email at
info@pria.us
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This publication may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. PRIA believes this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material in this publication is distributed without profit, to those who have expressed a prior interest in such information, for comment and nonprofit educational purposes.
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