COLORADO COVID UPDATES:   04_03

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!

Rules Are Here!: Late in the day, on 3.27 the Governor signed an Executive Order that waives the requirement for personal appearance and allow for the use of remote notarization technology for the next thirty days.

In the order, it authorizes the secretary of state to issue temporary emergency rules to establish the standards and processes necessary to allow remote notarizations, including rules regarding authentication, verification of identity, and audio-video recording. 

Please click here for the notice of temporary adoption.

More Info on the new Remote Notarization Rules: These rules are not the same as what is known as a Remote Online Notarization.  They allow for remote audio/video witnessing of the signature process. It must be a Colorado notary witnessing with web audio/video technology that is able to record the interaction and the parties signing must be located in Colorado.  LTAC suggests that you check with your individual underwriters for guidance.  Please click here for the notice of temporary adoption of the rules.   

Updated Stay at Home Order for Colorado includes Real Estate Transactions.  Please note the updated language that specifically includes "Professional Services, such as legal, title companies, or accounting services, real estate appraisals and transactions.   To see the Governor's Updated Order Please Click Here.

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.