Real Estate’s Evolution During Covid-19
COVID-19 | Real Estate | What's going on! |
Worldwide ERC recently published an article written by two of our MMH attorneys, Patrick McManamy and Alyce Ritchie.
The article highlights the impact the pandemic has had on our industry including how technologies that were already in affect helped us avoid a larger disruption to our every day processes and allowed closings to continue despite government closures and mandated lockdowns.
Most states, all but Vermont, in fact, had implemented E-recording of real estate documents prior to the pandemic.
“Due to the fact that e-recording was so prevalent, the recording of real estate documents in most jurisdictions could continue even in areas where courthouses were forced to close,” McManamy & Ritchie write.
“Without the ability to e-record, real estate transactions would have effectively shutdown until systems could be implemented on both the recording entity side and the closing side. The economic toll this would have taken on our industry is immeasurable.”
The article goes on to talk more about Remote Online Notarization (RON) as well as ways we can continue to adapt and learn from the vulnerabilities unveiled from this pandemic in an effort to thrive in the years to come.
Click HERE to read the entire article on the Worldwide ERC website.
Patrick McManamy is the Vice-Chair of the Real Estate and Mortgage Forum for Worldwide ERC.
Alyce Ritchie is MMH’s Compliance Attorney and a regular contributor to Worldwide ERC.