Have I got your attention??? Sorry for the dramatic title, but this is an important topic because, in my view, it has the potential to really change how business is conducted in this State. In the March of 2018 edition of The Quill, I spent some time talking about e-closings. I noted in that article that there was only one State in The Union (at the time) permitting e-notarizations. That State was Virginia. (And so we are on the same page, by “E-Notarization” I mean a situation where the notary is not in the physical presence of the executor of the document, but rather verifies and acknowledges the signature remotely, usually through a computer-based medium like Skype.)
With that background established, I want to turn your attention to THIS ARTICLE by Michael Holden with our friends at North American Title (NATIC). Michael points out that the number of states enacting Remote Notary Laws (which he terms RON) has significantly changed in recent times. The number of states permitting some form of remote notarization is up to twenty (20) now, with another eleven (11) states where legislation is pending. As of right now, North Carolina is not one of those states, but it is clear that attitudes about performing a remote notarization are changing. How long before North Carolina joins suit? Your guess is as good as mine.
Why is this important you ask? Why does a remote notarization law have the potential to change the landscape? Well, I have been involved in the closing business in one capacity or another for over twenty years now and what I have found is that lenders prefer dealing with as small a number of vendors as possible. If they had their druthers, they would prefer to work with two or three closing attorneys, not several hundred, in any given jurisdiction. I have also learned over the years that “he who has the gold, makes the rules.” So, my fear is that the large lending institutions will gravitate to two or three vendors that will promise to deliver closing services related to all one hundred counties in North Carolina. Those vendors would search public records electronically, record electronically and perform the closings, including notarizing legal documents. . .you guessed it. . . electronically. And if that happens. . .well, I guess the rest of us go work for them. . .
Having said that, there is something to be said for relationships and good service. It is imperative that you start talking now to your clients and referral sources. When and if the day comes where the large lending institutions want to force buyers and borrowers to use a particular vendor to provide closing services, the only thing that will stop them are real estate agents and buyers/borrowers who refuse, citing the personal relationship they have with their local service provider.
I have no crystal ball. This is just one man’s opinion and I would love to be wrong. Am I missing the mark? Have I overblown it? Shoot me a message with your thoughts. I’d love to hear them. I can be reached at email@example.com.
Us humans go out of our way to stay cool in the scorching NC heat but what about our furry friends? Here are a few tips for keeping your pets cool too!
1. Plan walks during the coolest part of the day and be mindful of hot pavement.
2. Make sure they always have plenty of water.
3. Dogs like to have fun too! If you’re going to be outside fill up an inflatable pool with cool water for playing.
4. Kids shouldn’t be the only ones to get sweet treats! Try whipping up some frozen snacks for your furbabies. Click HERE for some fun ideas.
5.And of course…never ever leave your pets in a hot car!
Happy Summer folks!!!
We heard that July 24th is National Tequila Day so we thought it appropriate, if not necessary, to share Landis’ favorite margarita recipe.
*2 oz. tequila
*1 oz. triple sec
*Juice from 1 lime
*Splash of simple syrup
*Fever-Tree Club Soda to taste
Shake all ingredients & serve over ice. ENJOY!
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