COLORADO COVID UPDATES

Posted 7_20.  Governor Polis Issues Statewide Mask Order:  The Governor has announced a requirement to wear non-medical face coverings see order here.  In the order it refers to changes to the Executive Order D2020 110.  Here is a link to that order as well, so you can see the details. The primary change is that critical business are now required to deny admittance to anyone entering that is not wearing a mask.  There are some exceptions.  Please review both orders in their entirety so you may determine how this will affect your current business practices. 

Orders, Orders, Orders – where do I go next?:  There are state orders, there are local orders and there are exceptions to the state orders that local governments have received.   Enough to make your eyes cross.  While this is certainly not a panacea, this is a pretty good website that shows which counties have received state exceptions go to the section entitled state variance approvals and click.

RON -What Happens Next:  The Governor signed the CO RON bill at a virtual signing ceremony Friday, June 26th..  The RON provisions of the bill will go into effect on December 31, 2020. The Secretary of State is to adopt rules to implement certain provisions within the bill prior to that time.  We anticipate rulemaking to begin in September. The bill also extends the temporary RIN rules until December 31st, 2020 and provides for the validity of notarizations performed under the  temporary RIN Rules.  The final version of the Bill can be found here.

Insurance Testing Now Available Online:  The Division of Insurance has announced that Licensing Testing is now available online.  Candidates wishing to access online insurance exams will use Pearson Vue’s Colorado Insurance testing website and when registering for an exam, choose “at home or office” when selecting an exam delivery option.  You will be required to download the OnVUE application, which will prompt them to provide photos of the following: headshot, government-issued ID and the room where the exam will be taken. Please call Pearson VUE at 800-274-2616 or email [email protected] should you have any questions.  Exams are still available  in person at testing sites, however to maintain appropriate social distancing measures, these sites are only operating at 50% capacity.

PPP Info : The small business administration and US Treasury Department have released an application for business owners to have their Paycheck Protection Program loan forgiven.  Members who received a PPP loan should complete and submit the application to their PPP lender.  

Effective 4/16: Guidance on Temporary Flexibilities for Closings: On Thursday, Fannie Mae and Freddie Mac issued temporary guidelines for signing documents remotely to help get mortgage transactions closed. Both entities will now allow the use of services such as Zoom, Skype or FaceTime to help facilitate what would otherwise be a traditional closing. Fannie Mae expects the temporary governors’ executive orders and authorizations related to RIN to extend beyond the COVID-19 crisis. A RIN can be distinguished from a remote online notarization (RON) in which notarial documents are signed and sealed electronically, with the notarial seal applied electronically. Fannie Mae encourages the use of RON, but if not available to then consider RIN. You can find more information on the RIN process here

DORA Emergency Declaration Effective April 2, 2020: The Colorado Insurance Commissioner has adopted Emergency Regulation 20-E-04 regarding continuation of Colorado insurance licenses during the COVID-19 public health emergency. This emergency regulation contains information for title agents regarding new licensing and license expiration during this public health crisis. View the full Emergency Regulation by clicking hereFeel free to share this information with your team!

Treasurer Office and Tax Certificate Update.  Due to County Office closures and partial closures there have been delays in receiving tax certificates. LTAC reached out to the Colorado Division of Insurance and they have confirmed that these situations do fall under Section 10-11-122(b).   Per that section, you do have to follow up and obtain the Tax Certificate once you are able to. 

LTAC recommends that members order their tax certificates earlier in the process than they have in the past.  In some cases, those tax certificates that have special considerations may have even lengthier delays; under those circumstances you may want to contact the lender.   COCRS has provided a link to with Treasurer Office Updates here.  

GSEs Issue New Guidance on RON, Powers of Attorney:  In response to the COVID-19 pandemic, Fannie Mae and Freddie Mac modified their single-family seller guides including temporary requirements for remote online notarizations (RON) and powers of attorney.  The American Land Title Association has great information on these guidelines here.     

eNotes:  We have had a few inquiries regarding eNotes.   Here is a list of Mers Participants

National Notary Association Health Screening Questionnaire.  In effort to continue to supply more resources for our membership we thought this document could serve as an additional tool.    

COVID-19 Real Estate Contract Addendum  The Colorado Bar Association has put together a COVID-19 Real Estate Contract Addendum that real estate brokers can use to "pause" pending real estate transactions where the parties want to close but cannot due to circumstances caused by COVID-19.  Please Click Here for a Copy.