MReport June 2021

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58 | TH E M R EP O RT O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T THE LATEST GOVERNMENT Senators Introduce Bipartisan Legislation for Nationwide Online Notarization The new bill will allow for all notaries to execute remote online notarizations across the U.S. U .S. Sens. Kevin Cramer and Mark Warner have introduced the Securing and Enabling Commerce Using Remote and Electronic (SE- CURE) Notarization Act, biparti- san legislation to permit immediate nationwide use of Remote Online Notarizations (RONs). "The pandemic exposed several flaws and outdated methods used in the American economy, and the notary process is a prime example," Sen. Cramer said. "Our bill would bring this process into the 21st Century, allowing people to securely complete notarized documents remotely, just as they do with many other important forms." The SECURE Notarization Act would authorize every notary in the U.S. to perform RONs. It would require the use of tamper- evident technology in electronic notarizations and help prevent fraud through the use of multifac- tor authentication. "Remote online notarization is a transformative technology that offers consumers a conve- nient way to safely and securely complete important documents," Sen. Warner said. "While the COVID-19 pandemic presented a number of obstacles to essential tasks such as executing wills, completing financial documents, buying or selling a home, or purchasing or selling a car online, many states demonstrated how to effectively deploy this type of technology to meet the needs of Americans." The bill is endorsed by a wide array of organizations includ- ing the American Land Title Association (ALTA), Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and the American Council of Life Insurers (ACLI). "The National Association of Realtors thanks Sens. Cramer and Warner for their reintro- duction of the SECURE Act," NAR President Charlie Oppler said."NAR encourages Congress to enact this legislation and pro- vide more flexibility to consumers nationwide looking to safely and effectively close real estate trans- actions using secure, two-way audiovisual communication." Bill Killmer, SVP of Legislative and Political Affairs at MBA, said, "The SECURE Notarization Act is essential to support new home- owners and would help apply a measure of transactional freedom to the flow of essential real estate closing activities as Americans begin to fully emerge from the pandemic. MBA appreciates Sen. Cramer and Warner's commit- ment to enable nationwide use of RON technology. Their continued diligence and hard work on this critical issue will greatly simplify and improve mortgage transac- tions for everyone pursuing the dream of homeownership."

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