SimpleNexus Praises MBA For Recognizing RON Legislation

SimpleNexus praised the Mortgage Bankers Association for naming federal remote online notarization (RON) legislation as a core issue of its National Advocacy Conference, according to a press release.

The MBA is currently coordinating with association partners to persuade Congress to pass The Securing and Enabling Commerce Using Remote Online Notarization Act (SECURE Notarization Act). The act would permit nationwide use of RON with minimum standards necessary to protect consumer data and provide interstate recognition of RON. States with existing RON laws on the books can implement their own RON standards.

"Our industry has taken sweeping measures to provide mortgage consumers with the mobile and online home buying experience they prefer, but existing notarial laws impede the shift in technology," said SimpleNexus founder and CEO, Matt Hansen. "To date, only 32 states have passed RON-enabling legislation, hindering the housing finance industry's ability to provide a broad swath of American homebuyers with the safety and convenience of a remote online closing ceremony. SimpleNexus commends the Mortgage Bankers Association for leading the charge on this critical issue."

The MBA organizes housing finance stakeholders for its National Advocacy Conference in order to educate lawmakers about key industry policies and hear directly from elected officials.