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Category: In the News

Federal Judge Bans Eviction Moratorium

A federal judge in Washington DC struck down the national eviction moratorium across the country on Wednesday.

U.S. District Judge Dabney L. Fiedrich of the District of Columbia ruled that the CDC does not have the authority to create and enforce a law regarding evictions. In other words, it is outside of their purview.

A federal judge ruled Wednesday that the Centers for Disease Control and Prevention lacked the legal authority to impose a national eviction moratorium during the COVID-19 pandemic. The ruling could potentially impact millions of households that have fallen behind on rent.

Fast Company

Challenge Incoming

The Department of Justice has indicated that they plan to appeal the ruling. They have now appealed the ruling. The Biden administration has said that they are reviewing the ruling and considering their options in regard to the ruling.

The Justice Department has asked the judge to put a stay on the ruling while the appeals process plays out. No response has been given on whether or not the stay will be granted. The judge has now temporarily stayed the ruling.

Judge strikes down Eviction Moratorium

The Biden administration has indicated it is attempting to pass a 50 billion dollar relief package for renters and landlords. During the moratorium it was declared that back rent would be owed when the moratorium was lifted, though no good process has been set forward, and industry analysts have indicated it will be very difficult to collect back rent for those who could not afford it, or used their stimulus funds for other expenditures.

State and Local Impact

The federal order will not preempt certain eviction moratoriums at the state and local levels.

But, expect more appeals to be filed in those locales based on this ruling. Though a complete list of local and state regulations regarding the eviction moratorium is outside our purview, one of the states whose moratorium will stand is New York.

The ruling will not affect New York’s laws because they are more stringent than the federal measure, said Sen. Brian Kavanagh, D-Manhattan, who sponsored the moratorium legislation in the Senate. “It doesn’t have any direct effect at all,” he said.

Democrat and Chronicle

The Argument for the Moratorium

Proponents of the eviction moratorium are varied.

Some say that any evictions will make the Covid crisis worse, making the virus easier to spread. They assert that is why the CDC has the authority to enforce the moratorium as it affects public health.

Others assert that during a time of crisis it is unethical to allow evictions. Many of them believe that a rental property is an investment, and that the landlords chose to take that risk.

The more fringe proponents believe that rent is unethical altogether.

The Argument Against the Moratorium

For those who support ending the moratorium, they say that while renters have been provided stimulus, landlords have not. And there have been no provisions enforcing renters to use any of the money from stimulus checks or the expanded unemployment to pay rent.

Some landlords have been hit harder than others. Most have been willing to work with renters to get through the pandemic by updating leases or allowing renters to pay what they can afford. Others have stated they have tenants that are abusing the eviction moratorium altogether, with no plan to pay rent, or use any of the stimulus funds to pay rent.

Regarding the investment argument, landlords have asserted that the moratorium goes beyond simply opening up their risk in investment. They say that if the units are empty, then that is the risk they take in the investment. But, since the renters are allowed to stay in the properties, the landlords are forced to pay additional losses that fall outside of what their investment should entail.

It should be noted that some areas and leases require the landlord to also pay utilities and other costs, and they should not be forced to do so, as many landlords find themselves in the same financial predicament of their renters. Their have been a number of court allowed evictions across the country for abuse of this. In one, tenants ran up $2,000 of utility costs in a single month to spite the landlord.

The Job Market and Unemployment

As the economy has rebounded, many employers are looking for workers. Local business owners we have spoken with say they have job openings they cannot get applicants for.

Others have indicated that the few applicants they have had, have no interest in the job. That they have basically asserted in job interviews they are only doing so to meet unemployment requirements.

While we’ll admit that some of this is anecdotal, the job problem is very real.

The coronavirus pandemic forced many businesses to close their doors and turn away customers and employees, but as many of those businesses and restaurants begin to reopen, they are looking for employees to fill available positions as they keep up with increased demand for their goods and services.

CBS 4, Miami

The Effects for Notaries

This was always going to boil over at some point.

For notaries, better or worse, this will result in a large amount of foreclosures across the country. After those foreclosures will come a lot of property sales, most likely much larger than the amount normally seen.

This can be seen as a financial positive for notaries.

This may be slightly tempered by the drastic increase in the price of properties during the crisis. Some economists have argued that Covid has created a bubble in the housing market. One that may lead to another crash in housing prices.

An earlier end to the moratorium, while still popping the bubble, may do so before it gets too large. Most of us remember in 2007 the bubble was too large and left many homeowners under water, compounding the crisis.

Whatever way you personally feel about this situation, it is something that will have a large effect on the notary industry.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000

Mortgage Rates Rise as Lenders Attempt to Limit New Applications

Mortgage rates are starting to rise as lenders try to stem new applications.

Lenders have been swamped with new applications as low interest rates have led to rising home prices and, more importantly, applications.

Why Slow Apps?

While low interest rates have kept the real estate engine moving during the COVID era, some lenders were already finding the low interest rates untenable.

A couple of large lenders had already capped applications based on loan size, while instead focusing on things like fulfilling PPP (Payroll Protection Program) loans. One large lender we know of stopped fulfilling home loans under two million dollars.

Other lenders stepped forward to fill the gap, but growing numbers of lenders are growing wary of the large number of loans at such low rates.

Lenders Raise Interest Rates

The Bustling Housing Market

As millions have lost work and thousands of businesses have failed, the housing market has helped to buoy the economy.

The massive drop in rates has led to large gains in home prices in most markets, while refinancing has opened the door for lower payments during a time when many need them.

But, long term forecasts are more uncertain. The last thing the industry wants to see is a market with declining prices as we move forward. And let’s face it, neither do buyers, especially after so many were left under water for so long after the real estate crash of 2007.

How Far Will Rates Rise?

Right now we are seeing rates rise between a quarter and a half a point. But, some analysts see this continuing as lenders try to make loans more profitable, hedging their bets from the low interest rates.

Refinance rates are a little more stable, but higher rates appear to be on the horizon. Business outlets like Fox Business are starting to advise those looking to refinance to do so sooner than later.

Has This Affected Notaries?

In some cases, yes. Between the busy market and some notaries sitting out signings due to the pestilence, there has been a notary squeeze for some.

Online signings have (very) slowly started to creep in, but quickly changing rules, no national standard, and work from home have all complicated the situation.

While work from home has been a blessing for many, large institutions are running into issues with training. In an industry where a single typo on a 40 page doc can wreck a transaction, training employees to exacting standards in all 50 states is onerous.

Especially when you are training tens of thousands of them.

If we’ve learned anything in the last year it is to expect the unexpected. Notary demand will remain strong, though.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000

Hybrid Closing and the Notary

The hybrid closing is something a few notaries are starting to be affected by.

As the move to online closings takes baby steps, the hybrid closing is a new trend to take a look at.

Are they the future of the industry, or just a stop gap on the way. With the slower than projected growth of remote online notarizations (we’ll have more on that soon), hybrids are starting to emerge.

What is a Hybrid Closing?

A hybrid closing is one in which part of the closing is done remotely, while another part is performed in person.

The banks are looking towards them as a way to split the work done in the closing.

So here is how it works.

A closing package is composed of several files that need to be notarized. They can all be done in person, but they don’t have to.

For example, in attorney states, under the temporary rules in place, some closings are now being done with some docs remotely, while other documents that require an attorney are done in person.

New York state is the leader in this right now, but it is still in its infancy.

The Hybrid Closing and the Notary

Will This Only Affect Certain States?

Truthfully, right now we are not sure. We only know that a few of the large lending institutions are giving it a try. Only the future holds how much of this will potentially affect the industry.

We do know that lenders put more weight behind certain documents than others. The law in many states does as well. So, those documents are being split under the hybrid closing model.

Since the laws right now are so disconnected across the country, and many are only temporary because of COVID, it is tough to tell where this will spread to.

Does That Mean Two Notaries for One Closing?

For some closings, yes.

And we think that the messiness of these closings will be one factor that decides the future of the hybrid closing model.

Are two notaries for one closing a good idea? A good part of us says it is not. One set of documents. Two notaries. A lot of room for error there.

What if you have an experienced and professional notary for one part of the transaction, and a not so good notary on the other end. It could potentially create a bit of chaos in a lot of ways.

However, that does not mean it will not happen.

If the rewards outweigh the risks, large lenders will follow.

Can the Same Notary do Both Parts of the Hybrid Closing?

There is no reason not.

As many of you know, we now offer online notaries. Some of you are already signed up with us for those services.

We all have to change with the times. And while online notarizations only represent a tiny fraction of our business right now, the fact is that they probably won’t several years from now.

Look, we all have to embrace and adapt to change. The notary industry, and every other thing in our life, is constantly changing. You either change with the times or get left in the dust.

Might it be our preference to find an online notary close to the physical part of the signing? We think so, but to be honest, it is too early to tell. We are looking at a very new and emerging topic here.

What Does This Mean for My Business?

In the short term, probably not much. But, we like to look ahead, and you should, too.

It is best to be out in front of the market. To be ready if and when the next trend comes down the pipeline. To be ready to jump on new trends before our competitors.

This is the best reason why performing a hybrid closing needs to be on your radar.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000

Massachusetts Supreme Court Affirms Market Rates

Don’t we all want market rates for our work? The Massachusetts Supreme Court has agreed.

Though this mainly affects static signings, almost every state has laws regulating the amount that may be charged for a notarization. Laws that when the average notary looks at the prices, it gives them the willies.

Notary pricing laws had a proper place and purpose. They ensured that everyone had access to notarize documents at a price that was reasonably affordable. The premise being that the need to the public outweighed the need to the notary.

So, the notary was allowed to charge a fair price and the signer knew they weren’t getting price gouged. A win-win as we like to call it.

A win-win at the time.

Market Rates Change with the Times

But, times move on. And the rates a notary could charge did not.

The notary was required to eat any new costs. The notary was held captive by inflation. None of these costs could be passed on to the consumer and work as a static notary went from a decent career to just a job, if one was lucky, which most are not.

Massachusetts Supreme Court Affirms Market Rates for Notaries

Over time all the profit was gone and other businesses started to offer services as a loss leader. So, the corner store may offer notary services, or maybe a bank or other business. They weren’t making money. They were just getting people in the door.

Heck, we know all about that. Sunshine offers static notary services in our office in Hudson, Florida. And while they are here, they get to find out all about our other wonderful notary services.

Market Rates in Massachusetts

A Massachusetts notary had enough.

Massachusetts law was codified in 1836! How much inflation do you think has happened since then? Under most documents, he was only allowed to charge $1.50. That’s the price of a candy bar today! (and not even the king size)

State law bars notaries for charging more than $1.25 per document, but that he and his wife were charged $10 a document, so he wants his money back

Universal Hub

Now, was the $1.25 for every document? Or even correct? The court said it was not. That this was a misunderstanding of the law. One that needs to be fixed.

The important part here is the court affirmed the right of the notary to charge market values.

Why Have a Lawyer When You Can Have a Historian?

The rest of the case revolved around changes in society since 1836. Arguments over language. It appears common English spoke in the United States has evolved since then.

Go figure, huh?

So, once the historians had their say and explained to everyone what the law may have meant when they wrote it in 1836, the notary prevailed, even if the court said it was a misinterpretation.

A very important misinterpretation that took historians to attempt to parse. Note to lawmakers. If it takes a historian to tell you what a law may or may not mean, maybe it is time to update or scratch that law altogether.

It depends on what your definition of “is” is.

But, why don’t we instead focus on the important takeaway.

The Massachusetts Supreme Court ruled/affirmed that notaries may charge fair market prices.

New Notary Technology

So, why is this important to today’s mobile and online notaries? It does not affect the daily operations of your business.

Or does it?

Since mobile and online notaries offer services beyond notarization, prices charged are already at market price. Some might say that technology has helped us move on from 1836.

But, there are a couple of positive takeaways.

Mobile and online notaries are less likely to be subject to future draconian laws themselves. What if you were told you could only charge $25 for a mobile signing for the next 200 years?

Can anyone say conniption fit?

The other side is that it could make you more competitive in the market.

A Possible Market Rate Example

Why don’t we look at the corner store? They may now charge $20 for a document they used to charge, let’s say, $8 for.

You cannot compete with $8. You probably don’t even want to try, which is why you looked for more lucrative areas of the notary business to begin with.

But, at $20, you may be able to compete. It may give you access to a market you could not touch before. You offer convenience that cannot be matched, especially when you can charge competitive pricing.

And being more competitive in the market is never a bad thing.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000

In Person Notaries Still in High Demand

In person notaries are still in high demand, as demand exceeds supply months into the pandemic.

It may be a surprising find as the pandemic seemed to indicate a light speed move to online signings. But, the opposite has happened.

As in person notaries have declined, both mobile and static, the demand for them has increased as the housing market has come back to life.

The Big Banks Control Online Signings

The banks are known to be conservative and slow moving. I mean, who still uses faxes?

But, at the beginning of the year it seemed the move towards remote online notarizations was gaining steam. Steam that would change the industry.

Steam that might just replace in person notaries with online ones.

And while it seemed the pandemic would only accelerate that, it has actually slowed the process down, leaving high demand for in person notaries.

Why?

As the market rebounds from COVID-19 closures, one symptom of this inertia has emerged: lenders are being flooded with a rising volume of mortgage applications, and notary availability is at an all-time low.

National Mortgage News
In Person Notaries in High Demand

A Rapidly Changing Marketplace

Let’s start by looking at work from home.

First the banks had to switch to work from home. This wasn’t an easy process, as larger banks had hundreds of thousands of employees to move. It was not easy. They had to do things like:

  • Get supplies
  • Train employees
  • Expand IT operations and invest huge amounts in new equipment
  • Adapt their culture to the new situation
  • Find and perfect new technology use for meetings
  • Route phone lines all over the place
  • Ensure everyone had consistent internet access

Work from home was made to sound easy, but the effort involved was massive. Compounding that, with everyone working from home, as well as virtual schooling, many areas just did not have the internet backbone to handle it.

That seems to have leveled off now, but large ISPs took months investing in new infrastructure to meet the heightened demand.

A Change in Focus

These times have caused the banks to repeatedly have to change focus.

A great example are PPP loans.

With a housing slowdown, why not start making new government backed loans? It’s a no brainer.

But, there is always a downside.

Making the loans is one thing. Keeping up with every detail, not so easy. Of interest is the myriad of tax rules that have to be met. But, the loans had to be made quickly, so it created its own issues.

Mortgage professionals aren’t exactly IRS agents, so the training is intensive, and even then, in some cases, a mountain too high to climb in such a short time.

Collections Behind the Eight Ball

Along with the downturn obviously came a dent in revenue stream. From people who were unable to pay, people who were able to defer payments or interest, as well as a few who took advantage of the situation.

As the moratoriums expire the big banks have also started to shift to collections and foreclosures. There is no need to go into depth here, but the same pattern applies.

  • More shifting of personnel
  • More training, online (not ideal for many)
  • A changing focus of company divisions.

Why Does this Increase Demand for In Person Notaries?

Simply put, most of the large banks have their hands full. And that has increased demand for in person notaries at a time when supply has waned as many notaries have shunned signings.

Notaries are in high demand but short supply. Data from April 2020, notaries not accepting signings for 15 or more days increased 1,225% compared to April 2019.

National Mortgage News

Efforts to look at online signings have dissipated as that attention has had to be focused into other areas.

It was already hard to look at online closings with the mish-mash of rules, both permanent and temporary, the massive amount of training and implementation into current processes.

And now the market has been focused into other areas.

In the long term, online closings are still inevitable in many markets. But, for the foreseeable future, the demand for in person notaries looks to remain quite healthy.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000

Are we at a Point where the Sunshine Begins?

As more parts of the country begin returning to work, and people beyond notaries return to normal life, we hope we are starting to see the Sunshine again.

2020 has been a really tough year for just about everyone, businesses have been shut down for a long time and many people are regaining confidence in our ability to finally move past this pandemic.

Beyond that, we’ve all seen the news, and probably too many social media videos. We’ve found almost every bit of it sad, but we’ve also seen a lot of signs of hope, and we know that we will become a better nation because of it.

Here are the current CDC guidelines.

Back to Buying Houses

Across the country we saw home sales take a hit, though refinances made up some slack because of extremely low interest rates. But, signs are beginning to show that people are starting to buy houses again.

Home sales in Houston have risen dramatically recently. In some places, we are talking a 50% increase over last year. Reports from Arizona and North Carolina are promising.

Now, we know this is not true in a lot of the country yet, but as buyers regain the confidence to look at houses, home sales will bounce back.

One thing we’ve seen so far, is that not much has happened to change peoples’ minds if they wanted to purchase a home, but the timeline of that purchase has surely changed.

Is There Sunshine on the Horizon for Notaries

Back to Business, Even at a Distance

As more people return to normalcy, the services they need will also return to normalcy.

For some things, there might even be a backlog.

Of particular note are loans. Many lenders have delayed payments, waived interest accrual, or both. Some landlords have delayed payments.

While the politicians in Washington try to decide what to do with all of this, many will probably get stuck in the middle. Depending on how that pans out, it may increase the need for notaries to finalize the new deal.

On the flip side, some lenders are moving back from some industries. For example, Wells Fargo has announced that they are almost completely shutting down car loans.

Sunshine Notaries are the Greatest Notaries

Throughout this all, you have shown us that we have the best and most reliable notaries in the nation, and we thank you greatly for that.

You have not only stepped up for your business, but for ours as well. Not only we thank you for that, but all of our employees that provide services for you and our clients, as well.

As a team, we could have folded. But, your efforts in going above and beyond the call of duty has shown us just how resilient you are.

If you don’t often speak to others in the industry, you do not realize the level of reliability and professionalism notaries that work with Sunshine have shown.

We’ve heard horror story after horror story from others in the industry on the unreliability of their notary partners.

But, we have to tell you. When those same people ask us about the horrors we’ve seen, we can proudly say that our notaries have pulled through in every way.

And then we give them our card and tell them if they want to work with the most professional and reliable notaries, they know who to call.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000

The Pandemic and the Notary Swimming in the Storm

The Mobile Notary and the COVID Pandemic, seems like the nightmare that is never going it end.

Can you believe we’ve been at this for two months already?

And while we hope that the end of the tunnel is in sight, the fact is we are still a small fish in a large ocean, and hurricane season has already started (it really has).

Notary Provides Consumer Friendly Services

How to provide a safe service, one that the consumer feels safe, is still proving both difficult and rapidly changing.

We can look to our own industry, while looking at other industries to see what may work.

Bringing some plexiglass with you to signings probably isn’t the best way to go. Curbside service would be great, but impracticable as well. But, looking at industries are there any things that may work for notaries?

Mona Lisa in Coronavirus Mask

Potential Notary Safety Measures

Can we learn something from other industries?

  1. Wearing a mask and gloves has pretty much been the law of the land, at least the mask. It is one of the easiest way to significantly assure consumer safety.
  2. We know it is not possible for every signing, but if you could have one outdoors, it is another thing that will most likely make the signer more at ease. Air circulates more easily outside. And curbside pickups and outdoor dining (where it has been allowed) both have been seen to boost consumer confidence.
  3. Sit as far away as possible. Social distancing is causing a lot of commotion, so do whatever you can to do so. Even if that means moving some to alleviate any concerns, as long as you do not think it will allow any errors or falsehoods in the notarization process.
  4. We know that online notaries are becoming a thing. Industry, which is using the pandemic to push forward online closings, may become a more significant part of our future. So, setting up an area in the office that is good for operations might not be a bad idea. Just don’t let the camera aim where people might see your family. (the recent viral video is hilarious)
  5. Fake it Until You Make It – Look and sound like someone who is confident in the measures you have taken. That confidence wears off on everyone in the room. If you look and act like the situation is in control, so will others.
  6. If you take a signing, do it. Unless the situation is bad, you need to do what you have to do. Once you accept a job, you need to do the job. Unless the situation at the job is bad. We heard a recent story where a closing had to be done four times. The first three notaries left, while the fourth notary closed the deal. Do you think the company will hire the first three notaries again? Unless there is a real good reason, probably with photos, they aren’t calling you again.

What Not to Do

There are also some things you should not do.

Coronavirus Motorcycle Helmet

Credit: The Sun

It’s halloween in April! No one around you will ever miss it.

But, while highly successful at social distancing, we are not sure the coronavirus helmet would go over too well with clients.

The Social Distancing Hula Hoop

Credit: Denver Post

We’re sure we aren’t the only ones who have seen a variation of the social distancing hula hoop.

If it is bad etiquette to wear something in public, it is probably a bad idea to use in your daily routine. We’d pay money if someone could actually hula hoop with one while walking down the street.

Norton Virus Protection

Bad British Mask Ideas
Credit: Metro UK

We wish the guy wearing a Norton Anti Virus was the only thing wrong here, as it is hilarious.

But, we wouldn’t advise going places with upside down bags on your head or a giant pet food container. Although we do appreciate the effort.

Back to Reality for Notaries

As the days of the pandemic move on, as more businesses start to open up, and as more business is done, the demand for notaries will rise with it.

While some people are more lax, others are going to be very wary long into the future. So planning a way forward for our businesses is only prudent.

We’ve hopefully given you a couple of decent ideas, and definitely showed you some of the wrong ways to do things.

But, we will close as we always do. Business is opening up in places around the country, which will mean more activity, so be safe and be successful.

This is part five of our series on Notaries and the Coronavirus. Here are some links to other articles.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000

Oklahoma, COVID, the Election and Notaries

Spurred in some part by COVID, the Oklahoma Supreme Court ruled that absentee ballots no longer have to be notarized.

It was spurred by the League of Women Voters, as well as medical advocacy groups and at risk people. Essentially, they argued that the notary requirement should be removed, as some voters will be unwilling to go to the polls due to the pandemic, as well as marginalized communities, who do not have easy access to notary services.

Under Penalty of Perjury

The response from the courts was to remove the notary requirement and allow individuals to sign their absentee ballots under penalty of perjury.

“Respondent is barred from issuing ballot forms, instructions, and material suggesting notarization and/or a notarized affidavit form is the only means through which the requisite affidavit for absentee voting may be accomplished,” the order said.

Tulsa World

Proponents say that it is removing an obstacle for voting, especially among seniors and medically compromised voters.

The vote from the court was 6-3.

Oklahoma and Election Law Changes to Notaries

The Argument Against the Lawsuit

Three judges dissented from the decision. They wrote two separate dissents.

Oklahoma passed a voting law in 2002. Under that law, they gave absentee ballots an exception to the rest of the law.

The court thought otherwise.

The argument against focused on proper channels for governing. That the court does not make the laws, the legislature does.

Justice M. John Kane IV dissented, writing “the issues stand presented to the wrong branch of government.” He was joined by Justice James Winchester. Justice Dustin Rowe wrote a separate dissent.

Courthouse News Service

The dissenting opinions said it would open the voting to more fraud, as in person voters are required to present a valid ID.

“Considering the history of voter fraud, the specifics of our absentee voter process and recent legislative history, I agree with the respondent that it would be absurd to now open the gates and provide for no verification for absentee ballots but still require in-person voters to provide a valid I.D.”

Non Doc

The Oklahoma Attorney General is now reviewing the ruling.

Outlook for Oklahoma Notaries, and other Notaries as Well

The game changes, but the wheel moves on.

The Oklahoma Primary is scheduled for June 30th. August 25th is the runoff primary, while the general election is on November 3rd.

For business, it will eliminate these signings. Since many absentee voters vote from outside their jurisdiction or in other countries, like our military, we’re not sure it creates a significant impact on the industry.

We would advise you to stay up to date on future actions. Or, better yet, just wait until we write about it.

We hope you all can stay busy and stay safe.

This is part four of our series on the coronavirus and the wider effects it has on our industry. It is amazing how quickly things have changed.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000

Notaries and New York 202.7

What does New York Executive Order 202.7 mean for notaries?

As part of the pandemic response, New York Governor Andrew Cuomo issued an executive order concerning online notarizations. The order opens the door for closings performed in New York to be done remotely, at least temporarily.

The change in notary procedures allows commerce to continue without contributing to the spread of the virus. For example, deeds are legal documents that transfer real estate from seller to buyer and must be notarized. The audio-video notarization allows real estate closings to continue without violating social distance rules.

Times Herald-Record

How are Notaries Affected?

The truth is, we don’t know. There are a lot of deals being made right now to keep the banks doing business. And New York State Executive Order 202.7 would be a part of that.

Here is what we do know.

The governor’s order removes a lot of rules that governed how a signing occurs. This is happening all across New York state. This is a break on national rules on a significant number of loans. The repercussions of this are yet to be seen.

Right now it allows New York notaries to act as an online notary to perform closings. The notary involved, as well as the location of the signing, must both be in New York. The property itself does not need to be in New York, but the closing and online notary must both be in New York.

Notaries Prepare for Online Signings

What the long term effects are remains to be seen. We all know online notarizations are on the horizon, but we don’t know if this will speed things up, or if people will game the system and make people put the breaks on. If we had to bet, it would probably be on the former.

How About Rules?

There are a lot of caveats to this law, as well as social interactions that would affect how a loan closing is performed.

Social distancing. A new phrase to most of us until a month or two ago, but a phrase that dominates our lives now. The new rules are designed to allow closings while keeping social distancing.

It is affecting title, mortgages and closings, not just in New York, but across the country. Some buyers refuse to leave their house and that causes mobile signings to go awry. Some buyers are asking the notary to slide the docs under the door.

But, I’m sure we all know that is a no-no.

The rules seem endless, but we suppose that is what you do when you don’t have any.

Notaries Under the New Online System

The world is changing. It is transitioning more quickly than any of us could imagine (minus a few doomsday preppers, who are looking like geniuses now). What comes from it is going to alter a lot of things.

We imagine that the federal regulations on certain rules will return soon. But, it will only accelerate the move to online signings. Proponents of online signings will use this as a casus belli.

There will still be a significant amount of signings that will need to be done in person.

Why Not Online or Mobile?

Exactly, why not?

Even with the day online notaries are on the horizon, that does not mean that every signing will be online. There will be a lot of signings that will still have to be done in person, whether it be for an institution or an individual.

So just like we are looking at the possible realities of the future, so should you.

This is part three of our series on the coronavirus and the wider effects it has on our industry. It is amazing how quickly things have changed.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000

Are Notaries Essential Business?

It has only taken a couple of weeks and the landscape of our daily lives has changed, possibly forever.

Most of the nation is now under stay at home, or safer at home orders. With people only allowed to travel for things like groceries, or essential business.

This will change the notary landscape forever. But, at the moment, we should focus on our immediate business and the safety of ourselves, our families, our friends, our clients and everyone else.

Which Notaries are Deemed Essential?

Some notary functions have been declared an essential business via a memorandum for the financial services sector. Or in simpler terms, mortgages and other types of loans.

United States Secretary of the Treasury, Steven T. Munchin levied the mandate. It goes into great detail as to all of the sectors of financial services are essential.

If you do not have a copy of the memorandum, we advise you download it and carry it with you if you have a signing. Some localities are requiring it be on person, while others are more lax. It’s probably easier to just print and carry it, as keeping up with every local development isn’t easy.

Some Notary Tasks Have Been Deemed Essential

Right now, local restrictions override any federal orders, so make sure you know your local travel orders or any other instructions mandated by your local leaders, at least as best as you can in this rapidly changing world.

Real Estate and Titles Keep Moving On

Real estate has not stopped. A few of the rules have changed, but the engine remains the same, even if it slows down.

The market has quickly changed along with everything else. What was hoped to be a banner home selling season has stood back. But, lower interest rates are now driving incredible interest in refinancing.

Craig Haskins, chief operating officer with Knight Barry Title, said a common misconception he is seeing is people think “a lot of our real estate business has just stopped.” “We’ve been deemed an essential service across the country. Even if your county courthouse is closed, there’s a good chance your transaction can get finalized,” Haskins said. “Also, as an industry, we’ve shown our ability to innovate quickly through all of this, and I hope it continues when some normalcy returns.”  

Housing Wire

What About Other Notary Functions?

The first thing that comes to mind are weddings.

And the rules are all over the place.

In some locales weddings are banned, in some you can have them, but no marriage license will be until a later date. And in some places the rules are different than that.

That is why it is important to know your local rules and what you can and cannot do.

What About Safety?

This crisis has started a rush towards remote online notarizations. Some states that have not approved them have given the option of performing a signing remotely.

When traveling to a signing, please follow the recommendations from the CDC. They have a lot of additional information on the site, like how to clean various items and what to do if you think you may be sick.

At the signing follow the above recommendations. But, remember, your safety is paramount.

This is part two of our series on the coronavirus and the wider effects it has on our industry. It is amazing how quickly things have changed.

Sunshine Signing Service

Your Nationwide Notary Signing Service

Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.

Or Call us at (727) 817-0000