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Connecticut governor issues executive order updating remote notarization guidelines
On March 30, Governor Ned Lamont issued updated remote notarization procedures, as part of a broader executive order on public health and safety during the Covid-19 crisis. The update enabled all notarizations to be conducted remotely via simultaneous sight and sound communication technology as long as specific requirements are satisfied. The changes replaced the governor’s previous order and are in place until June 23, unless otherwise noted.
DOJ reminds landlords of servicemember rights during Covid-19 crisis
On March 30, the DOJ’s Civil Rights Division released a statement encouraging landlords and property managers to provide flexibility for servicemembers who have had to quickly change housing plans and employment responsibilities. The Division explained that due to the Covid-19 outbreak, a March 13 Stop Movement Order halted domestic travel by military personnel. As a result, many servicemembers who had signed leases for housing in anticipation of a move to a new duty station will not be able to move until May 11, at the earliest. The statement continues that “[c]onsistent with federal and state law” property managers are urged “to afford the men and women of our armed forces maximum flexibility to adjust their residential lease obligations as needed to comply with military orders during this uncertain time.” The statement reminds property managers and landlords of “the responsibilities they have with respect to members of the National Guard and Reserve under USERRA, the SCRA and similar state laws,” adding that the Division “will act swiftly to bring violators to justice.”
Servicemembers with concerns regarding their civil rights should contact the DOJ or their nearest Armed Forces Assistance Program Office.
Special Alert: CARES Act “Paycheck Protection Program” offers relief and opportunities for small businesses and lenders
On March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). The legislation’s first title, the “Keeping American Workers Paid and Employed Act,” provides a host of relief measures for small businesses, including $349 billion for Small Business Administration (SBA) loan forgiveness, guarantees, and subsidies. This Special Alert summarizes pertinent SBA-related provisions of the Paycheck Protection Program (PPP) and potential opportunities for both (i) small businesses, and (ii) existing and new SBA lenders to grow their small business lending portfolios. We will provide an update on the relief measures following the Treasury Department’s (Treasury) release of additional program details, which is expected imminently.
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Click here to read the full special alert
We will provide timely updates regarding any guidance published on this topic on our dedicated SBA page, which includes additional SBA resources you may find helpful. If you have any questions regarding the matters discussed in this Alert, please contact a Buckley attorney with whom you have worked in the past.
NMLS updates temporary policy for reporting deadlines
On March 30, the NMLS Policy Committee amended its temporary policy for submitting reports in NMLS. Instead of the original 60-day deadline extension, the committee encourages regulators to be lenient and not take administrative action if reports are filed within 30 days of the placement of the license item (based on the standard due date). This appears to provide greater flexibility to agencies utilizing NMLS to deviate from the initial extended deadline.
Click here to read the full update.
Hawaii issues executive order permitting remote notarization
On March 29, the Hawaii governor issued an executive order that, among other things, suspends requirements in Chapter 456 of the Hawaii Revised Statutes relating to notaries public, and any related administrative rules, to the extent that they would require close physical contact to accomplish notary functions. The executive order also sets out rules governing the performance of notarial acts while using audio-visual technology.
New York issues executive order addressing certain Banking Law requirements
On March 29, New York Governor Cuomo issued an executive order granting the superintendent of Financial Services (superintendent) the authority to promulgate emergency regulations to apply the provisions of the executive order relevant to policy cancellations to premium finance agencies, subject to safety and soundness considerations. The executive order also provides that all instruments that are signed and delivered to the superintendent under the New York Banking Law, and that are required to be verified or acknowledged thereunder, may be verified or acknowledged by including standard verification or acknowledgment language in the instrument and transmitting a legible copy of the signed instrument by fax or electronic means.
Nevada imposes moratorium on foreclosures and evictions
On March 29, the governor of Nevada issued an emergency directive suspending evictions and foreclosures based on mortgagee or tenant default on both residential and commercial real estate. The suspension took effect on March 29, and lasts until Nevada terminates its Covid-19-related state of emergency. The declaration contains exceptions for cases of criminal activity and property damage, among other things.
Illinois prohibits certain vehicle repossessions
On March 28, the Illinois governor issued an executive order suspending certain provisions of Illinois law regarding the repossession or usability of vehicles. However, the executive order does not relieve any individual of the obligation to make payments or comply with any other obligation that an individual may have under a loan agreement or otherwise.
New Jersey regulator announces residential mortgage relief initiative
On March 28, the New Jersey Department of Banking and Insurance announced that it is working with more than 40 banks, credit unions and servicers to provide relief to New Jersey homeowners. Under the new initiative, residents of New Jersey impacted by the Covid-19 pandemic may be eligible for a 90-day forbearance from mortgage payments and relief from fees and charges upon contacting their financial institutions. Cooperating institutions have also agreed not to start any foreclosure sales or evictions for 60 days.
Colorado issues executive order temporarily suspending the personal appearance requirement for notarization due to the presence of Covid-19
On March 27, the Colorado governor issued an executive order temporarily suspending the requirement to appear personally before notarial officers to perform notarizations. The order authorizes the Secretary of State to issue temporary emergency rules to permit notarial officers to perform remote notarizations. The order does not affect the rights or duties of parties to existing contracts of insurance or other private contracts that may require or anticipate in-person notarization of documents. The order expires within 30 days of issuance, unless extended further by executive order.