The only publication that provides specialized Notary news, information and resources for corporate professionals.
The “robo-signing” crisis and the ensuing housing market meltdown resulted in a number of new regulations for the financial and mortgage industries. One of the primary impacts to the industry will be the recent federally-mandated training and education for Notary staff and their supervisors. The NNA 2013 Conference theme, “Knowledge 2.0,” has been specially designed to help Notaries in the banking industry enter this new world of signings....More
Changes in the mortgage industry as well as an improving financial outlook bode well for Notaries who are seeking a new job or searching for additional sources of income....More
Notaries may soon see a rise in paperless mortgages, driven by changing industry standards and new regulations, according to a recent article in the American Banker....More
The announcement this month of several large settlements between mortgage companies and federal regulators shows how the costs of the foreclosure crisis continue to skyrocket for major financial institutions since the “robo-signing” scandal broke in late 2010. To date, financial institutions have been hit with more than $35 billion in fines and settlement costs — and the cost is likely to go up....More
If you encounter a signer at your bank or financial institution who doesn’t have a driver’s license, passport or other ID that meets your state’s requirements, an alternative is to use one or more credible identifying witnesses.
Essentially, a credible witness serves as a “human ID card,” who takes an oath or affirmation before the Notary verifying that a signer’s identity is accurate. The ideal credible witness should not have any interest in the document involved in the notarization.
Each state has its own rules regarding use of credible witnesses, and Notaries should always check their state laws for any special requirements. For example, some states require a credible witness to personally know both the signer and Notary, and others allow the use of more than one credible witness during a notarization.