This month marks the two year anniversary of the existence of Per Diem Paralegal, LLC! Thank you to all of our fabulous clients ~ your business and reliance upon the services we offer is greatly appreciated!
TRID (Truth-in-Lending/Real Estate Settlement Procedures Act Integrated Disclosure Rule
The Consumer Financial Protection Bureau has issued new rules for lenders in providing mortgage financing relative to residential real estate transactions. These changes and regulations now require vetting of all law firms/attorneys doing business in the capacity of closing loans.
The vetting process for inclusion on the approved attorney lists for lenders can be quite daunting. We can assist you in getting the vetting process accomplished and Best Practices implemented. Feel free to contact us for assistance.
Sales of high-end homes have increased!
According to the National Association of Realtors, the sale of high-end homes (those priced over $1 million dollars) have increased by 8.5 percent from 2013. Comparatively, this represents the greatest sales jump over any other housing segment. This should come as no surprise given the country-wide appreciation of the value of real estate along with the availability of low interest rate mortgages.
How Paralegals Can Improve Your Practice
The American Bar Association began endorsing the use of paralegals in 1967. They provide the following:
How would a paralegal improve my practice?
- Your costs would be reduced.
- You would be able to lower your legal fees.
- Your clients would also appreciate increased contact with your practice through your paralegal.
How would a paralegal improve my practice’s bottom line?
- Paralegal time can be billed out separately to your clients, and at lower rates.
- Paralegals can be paid less than an attorney, yet handle many tasks (under an attorney’s supervision) that would otherwise be performed by an attorney.
- The paralegal staff can be a profit center for your practice.
Connecticut Notary Requirements
Connecticut State Law provides that a Notary Public must obtain sufficient proof of identity when performing an acknowledgement. Pursuant to Connecticut General Statutes Section 3-94a(10), those requirements are: “Satisfactory evidence of identity” means identification of an individual based on (A) at least two current documents, one issued by a federal or state government and containing the individual’s signature and either a photograph or physical description, and the other by an institution, business entity or state government or the federal government and containing at least the individual’s signature, or (B) the oath or affirmation of a credible person who is personally known to the notary public and who personally knows the individual.