Detroit Mobile Notary Signing Agent Blog - Notary Tips & News

Housing Crisis To End?

2012-02-09T00:04:00.001-05:00

According to Capital Economics, banks are loosening credit, increasing the dollar amount of of loans based on borrower's earnings, and loosening loan to value ratios.

5 Steps For Improving Your Online Social Reputation

2012-02-07T00:01:00.000-05:00

From The Kudzu Business Success Center:

1. Consistency (consistent social identity across platforms)
2. Find Your Brand (determine what you want your digital reputation to look like)
3. Own Your Name (track your online reputation)
4. Get Some Help (utilize available tools to help monitor your online identity)
5. You Aren't A Robot (humanize your brand using social media)

Does Money Motivate People?

2012-02-06T02:26:00.000-05:00

Bank Of WHITE America?

2011-12-21T21:58:00.000-05:00

Bank of America today agreed to pay a record $335 million to settle a lawsuit claiming they discriminated against minority home-buyers.The suit charged that Countywide (purchased by B of A) charged higher interest rates and fees to African-Americans and Hispanics and steered them to more expensive sub-prime loans even though they qualified for conventional loans. U.S. Attorney General Eric Holder said that the investigation found a widespread pattern of discrimination against more than 200,000 people in 41 states.

The BBB Is NOT Investigating You

2011-12-07T04:05:00.000-05:00

There's a new malicious email going around. If you receive an e-mail claiming to be from the Better Business Bureau about a complaint filed against you, DO NOT click on the link. It's a fake. The bad English always gives it away. The e-mail states "The Better Business Bureau has been filed the above-referenced complaint from one of your clients regarding their dealings with you. The detailed information about the consumer's concern is explained in enclosed document..."

Forward the email to phishing@council.bbb.org , and delete it immediately.

Forget Black Friday

2011-11-20T17:34:00.000-05:00

Shop Small. Small Business Saturday is November 26th.

Michigan Supreme Court OK's Foreclosure By MERS

2011-11-17T01:03:00.000-05:00

The Michigan Supreme Court has ruled that it is legal for Mortgage Electronic Registration Systems (MERS) to foreclose by advertisement. The ruling overturns a prior Appeals Court decision. MERS was developed as a way to keep track of the servicing rights on home loans. Though MERS is not a lender, they foreclosed on properties as an agent for lenders. The Appeals Court had ruled that MERS did not meet the requirements under state statute to foreclose by advertisement. The decision threw thousands of foreclosures into question and caused many title companies to cancel closings due to concerns about insuring the title on a bank-owned home involving MERS. But the Michigan Supreme Court ruled that MERS has an interest in the debt and acted properly under Michigan law.

Fannie Mae Wants $7.8 Billion More

2011-11-09T20:06:00.000-05:00

Fannie Mae has asked U.S. taxpayers to cover $7.8 Billion in loses. Those loses are for a THREE MONTH PERIOD from July to September (so you can be sure they'll be back asking for more every three months). Taxpayers have ALREADY shelled out $169 billion to keep Fannie and Freddie afloat ($112.6 Billion to Fannie Mae). And in the "Oh no you really didn't say that" category, Fannie's president and CEO Michael Williams actually said "Despite these challenges, we are making solid progress." You believe him, right?

Earning Cash With A Side Job

2011-11-06T14:33:00.000-05:00

From Yahoo business advisor, 5 ideas for starting a side business:

Social sales. Mary Kay, Pampered Chef, Tupperware, and Stella & Dot allow a flexible schedule and start up can be quick.

Freelancing. You may have a marketable skill that fills a need such as writing/editing, animal care, cutting hair, being a DJ, organizing homes, translation, video production, and mowing lawns.

Online stores. Selling items you make or collect.

Consulting. you may have an expertise that can fill a need. Consulting, tax preparation, personal finance advise, wedding preparations, Internet marketing, computer troubleshooting, public speaking, and interior design are just a few examples.

Teaching. Ideas include yoga instructor, fitness trainer, music instructor, foreign languages, academic tutoring, dance, etc.

President Obama Plans To Announce New Mortgage Initiative

2011-10-24T02:02:00.000-04:00

This week, President Obama plans to announce new mortgage rules intended to make it easier for more Americans to refinance their homes. Administrators have been working with the Federal Housing Finance Agency to loosen lending under the Federal Home Affordable Refinance Program (HARP). The changes include letting banks avoid the risk of any "buy-back" on HARP mortgages as long as borrowers have made their last six mortgage payments and can show they have a source of income.

The Best Notary Stamp Money Can Buy

2011-10-12T00:49:00.001-04:00

I just received my Brother 2260 Elite Notary Stamp from Notary Rotary (see the post below for why I needed a new stamp). Notary Rotary bills it as "the best notary stamp money can buy." After trying it out, I can see why. The stamp takes very little exertion to leave an impression. And the impression it does leave is crystal clear every time. No smudging, no smearing. I'm embarrassed to admit that I'm actually a bit excited about my new notary stamp. Yep, it's the little things...

Notary Lesson Number 372

2011-10-06T00:01:00.000-04:00

If you're going to use the roof of your car to notarize something, remember not to leave your notary stamp on top of the car when you drive away. Otherwise you end up with a stamp that's in a thousand pieces. Lesson learned!

Bank of America's Website Has Not Been Hacked, Your Info Is Safe!!

2011-10-03T16:53:00.001-04:00

But curiously, their site has been having serious issues since their Friday announcement that they would be adding a $5 monthly service fee to debit card users. Hmmm.

A Little Housekeeping

2011-09-16T01:29:00.001-04:00

There are several articles I've meant to post over the last few weeks. They're late, but they're still relevant:

Bank of America is eliminating 30,000 jobs, the largest single cut by a U.S. company this year. The cuts equal about 10% of their workforce.

Our U.S. Government (Fannie, Freddie, & FHA) is currently sitting on 248,000 foreclosed homes, equal to almost a third of all repossessed homes. And they have no idea what to do with them.

Speaking of our U.S. Government, regulators for Fannie Mae and Freddie Mac are planning to sue more than a dozen banks for misrepresenting the quality of mortgage securities created and sold during the height of the housing bubble. Those banks include Chase and Bank of America among others. If you're keeping score, yes, these are the same banks that received billions of dollars from Uncle Sam.

And starting October 1st, FHA will require mortgage servicers to place certain borrowers into trial modifications before collecting a fee for the loan modification. The trial modification will be required for borrowers who miss one mortgage payment twice in the last year, fell 90-days delinquent in the past three years, defaulted within 90 days of the last foreclosure prevention workout, or spend more than 80% of their income on debt repayments.

Short Sale & Foreclosure Prevention Seminar

2011-09-14T22:49:00.000-04:00

The city of Southfield will sponsor a Short Sale and Foreclosure Prevention Seminar from 6:30-8 p.m. Thursday, Sept. 15, in the Southfield Public Library meeting room, 26300 Evergreen Road...continued

Explaining Fannie Mae & Freddie Mac

2011-08-24T22:26:00.000-04:00

From The Detroit Free Press:

Fannie Mae and Freddie Mac are publicly traded companies that guarantee the majority of new mortgages in the U.S. Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corp.) were taken over by the government in 2008 after billions of dollars in losses and years of mismanagement at a cost to taxpayers of $141 billion.
Fannie and Freddie operate in the U.S. secondary mortgage market. They don't sell mortgages directly to homeowners; they buy mortgages from banks and other lenders, which can use the money to issue new home mortgages.

Continued...

Best Places To Live In America

2011-08-16T00:13:00.000-04:00

Money Magazine's yearly list of the top 100 places to live in America is out. My hometown of Plymouth, Michigan has placed in the top 50 year after year. This year? Not one single Michigan city made the top 100. Another sign of the beating Michigan has taken in recent years.

Satellite View Of Homes in Foreclosure

2011-08-07T00:01:00.001-04:00

Fascinating and Frightening (Thanks to Sue W. for posting this on Notary Rotary).

Notary Bond Requirements

2011-08-03T03:47:00.000-04:00

Thank You To 123 Notary

2011-08-01T00:56:00.001-04:00

Thank you to Jeremy and 123 Notary for mentioning my blog on their forum. A little love is always appreciated. And they think I'm cool (which I totally am). No, really I am. 123 Notary is listed on my resource page under Notary Signing Agent Forums as well as Mobile Notary Public Locator Services (I love the zip code search right on the front page), and I consider my 123 listing as an absolutely essential part of my online presence. If you want to be found, you've got to be on 123.

123's notary blog can be found here.

Online Notarizations Take Another Hit

2011-07-28T11:53:00.000-04:00

The State of New Jersey just released a statement regarding the practice of notarizing signatures online via a webcam. Though many states (not Michigan) have issued statements prohibiting the use of webcams as a means of identifying a signer and notarizing a signature, the New Jersey statement is significant since the one company that claims to offer this service, Notary Now, is based in New Jersey. Due to concerns over security and fraud issues, the notary community has been singularly united against the use of webcams for the purpose of notarizations.

The statement reads as follows:

The Division of Revenue requested legal guidance concerning the practice of online notarization services utilizing a webcam or other video in lieu of a personal appearance in front of a valid New Jersey Notary. It has been determined that New Jersey’s statutes do not allow for this type of notarization.

Prices Up, Sales Down

2011-07-26T13:27:00.000-04:00

New home sales fall as home values begin to rise.

A Devestating Day For All Of Us

2011-07-22T13:40:00.001-04:00

Late yesterday evening the notary community lost one of its finest members. Paul Williamson of PAW Notary Services in Florida passed away. The news comes as a shock to so many of us. Paul was a leader in the industry and an absolute gentleman. He was as knowledgeable as anyone in the industry and was always willing and eager to offer his assistance to those who needed it. As with so many others, I find it hard to express the sadness and devastation I feel over this immense loss. Paul will be greatly missed.

You Can't Make This Stuff Up

2011-07-22T00:01:00.001-04:00

Today I did a purchase signing for an out of state property with a title company that I've never dealt with before. In their package is an I.D. form to fill out the borrower's information. Under that, the title company wants me to notarize the form. There is no place for the borrower to sign and the notary wording is improper as well. So of course, since the borrower isn't signing it it shouldn't be notarized. We notarize SIGNATURES, not DOCUMENTS. So without the borrower signing anything, you can't notarize it.

But the best part of this form is that underneath the place where they want me to improperly notarize a document, in big bold letters, it states: IMPROPERLY NOTARIZING A DOCUMENT IS A VIOLATION OF STATE LAW. ANY OCCURRENCE WILL BE REPORTED TO THE APPROPRIATE AUTHORITIES. Oh the irony! I'm not sure whether to laugh or drop my head in embarrassment.

Lenders Continue Practice Of Robo-Signings

2011-07-19T03:45:00.000-04:00

Anyone surprised? Anyone?

You Really Should Refinance

2011-07-15T02:09:00.000-04:00

The average 15 year rate is at a 2011 low (3.65%) while the 30 year rate average dropped to 4.51%. What could you possibly be waiting for? Other than for your credit score to improve...or for your house value to come back up...or for this MERS thing to be resolved...or for you to find employment again...

Where To Buy Paper

2011-07-09T00:01:00.000-04:00

It's always a challenge trying to find the best bargain on bulk paper. Right now Office Depot and Reliable Office Supplies are the best best prices I can find. They seem to have specials almost every week. Any other suggestions are welcome.

Your Online Reputation

2011-07-07T00:01:00.000-04:00

From the Kudzu Business Center: 10 tactics that could save your online business reputation:

1. Know your achilles heel
2. Assume everything will make it’s way to the web
3. Create a great online impression; dress to impress!
4. Choose your blog voice carefully
5. Hangout at the right social network
6. Send blogger’s love letters, not PR pitches
7. Build your Google reputation now, not later
8. Monitor your online reputation as often as your email
9. Ostriches are not great role-models
10. Three words to remember(sincerity, transparency, and consistency)

Are We There yet?

2011-07-05T00:01:00.000-04:00

Have we REALLY hit the bottom of home prices? Are we SURE this time? HUD secretary Shaun Donovan says yes.

OK Kids, Let's Review

2011-06-29T09:29:00.001-04:00

The absolute essence of a notarization includes identifying the signer and verifying their signature. So if you're at an attorney's office signing an important document (like I was this week) and no one asks for your I.D. and the person who's notarizing your signature is no where in the room, THAT'S ABSOFREAKINGLUTELY UNACCEPTABLE! Which is why I asked their notary to come out from her back cubicle, handed her my I.D., asked her to copy it for their file, and made her witness my signature. And I might have given her a gentle lecture as well.

Dear Title Companies...

2011-06-21T00:01:00.000-04:00

If you're going to require the ENTIRE loan package, all 110 pages, faxed back after the closing, please take the time to mention this to your friendly neighborhood closer when you schedule the appointment with them. Otherwise, we may no longer be so friendly. Thank you.

Drastic Change In Domain Names Coming

2011-06-20T11:21:00.000-04:00

Internet domain names are about to get crazy. Starting January 12th, 2012, the Internet Corporation for Assigned Names and Numbers (ICANN) will begin accepting applications for domains with new suffixes. The new suffixes will be limited only by your imagination. You can bank on lenders creating their own domains like .chase, .wellsfargo, .citibank, etc., but before you get any ideas about registering .notary, .closer, .signingagent, or any other such name, consider the cost. The application fee for a new domain is $185,000.

Currently, there are only 22 generic top level domain names (such as .com, .net, .org) and approximately 250 country level names (.us, .uk, etc.).

Listing Your Notary Service on Craigslist

2011-06-14T13:06:00.001-04:00

I recently added a listing for my notary signing service on a free site called Thumbtack. One of the things that Thumbtack offers is that they'll post your listing on Craigslist with a few clicks of your mouse, then send you a reminder every six weeks or so to re-post.

Here's what I've found: I haven't gotten any leads or any business from Craigslist for mortgage closings, but I've gotten several jobs and inquiries for general notary work. The down side: despite the fact that I specifically state that I do NOT wish to be solicited by other businesses, I receive several emails a week to visit this site, or join this service, or list your business here. You know the ones. Emails that try to sound like they're from someone that knows you, "Hey friend, you should check this out!" and written by someone who's first language is clearly not English, "It is of this offer I am to share with you something important." Ugh.

So if you want more general notary work, Craigslist may work for you. If you don't mind the spam. Me? I'm going to pass from now on.

What Marketing Isn't

2011-06-06T00:01:00.009-04:00

No, I do not need a merchant credit card account. And if I did, I wouldn't obtain it from a company that auto-dials me, then bullies me with a headset phone jockey who pretends to be calling from my existing service provider and is so completely focused on reading from their script that I can't get a word in edgewise without having to scream "STOP TALKING" to get them to listen.

Yes, warm calls can be a successful and profitable marketing technique. But newsflash, warm calls involve probing questions and actually listening to a potential customer's needs. It involves having an outline of talking points tailored to your potential clients needs. It does not involve a generic one size fits all don't take a breath until you're done we'll be stopping by tomorrow kamikaze sales pitch. And it does not involve talking faster than an auctioneer on 12 cups of coffee. Just saying...

Fame or Shame?

2011-06-02T00:01:00.001-04:00

The MSN Money 2011 Customer Service Hall of Fame & Hall of Shame has been released. How many lending institutions and credit card companies made the top 10 Hall of Fame? Zero. Zilch. Zippo. And how many made the Hall of Shame. Four. Chase, Citigroup, and Capital One (What's in your wallet? Apparently their hand) all made the top (or bottom) 10. And at number 1 with a bullet, perennial stinker Bank of America, who managed to climb past AOL from last year's number 2 spot. A whooping 41.4% of B of A customers give the banking Goliath a poor rating (up from last year's 34.6% figure). Bank of America says they're trying. In the words of that great Jedi Master & philosopher Yoda, "Do or do not. There is no try."

Grow Your Notary Business By Networking

2011-06-01T01:06:00.000-04:00

The American Association of Notaries just came out with their May newsletter. The main topic is something that's near and dear to my heart - Notary Signing Agent Networks. The AAN newsletter talks about the advantages of networking with other quality notary signing agents in your state to share leads and marketing. If you're looking to grow your notary signing agent business, this is a must read. If you can't access the AAN article here, you may need to sign up here (it's free). Or email me at alex@detroitnotary.com and I'll be glad to forward the article to you.

Here in Michigan, the Michigan Notary Network has had a great deal of success with the model described in the AAN article. We've all benefited from sharing leads with each other as well as marketing each other to our clients. Our title and mortgage companies appreciate knowing that they can rely on the quality and experience of other notary signing agents in our Michigan network.

Too Big To Fail Debuts Monday Night on HBO

2011-05-23T00:01:00.003-04:00

Too Big to Fail chronicles the financial meltdown of 2008 centering on Treasury Secretary Henry Paulson.

MERS Ruling Causes Closing Cancellations In Michigan

2011-05-23T00:01:00.002-04:00

If you're a mobile notary signing agent in Michigan and you've had a rash of purchase closings cancel in the last week or two, here's why: The Michigan Court of Appeals has ruled that The Mortgage Electronic Registration Systems, also known as MERS, does not meet the requirements under state statute to foreclose by advertisement. That ruling has caused many title companies to cancel closings due to concerns about insuring the title on a bank-owned home involving MERS.

MERS was developed as a way to keep track of the servicing rights on home loans. A property is registered with MERS which allows easier transfer and tracking of a mortgage to a mortgage servicer. Lenders were foreclosing on homes in MERS name, but the Michigan court ruled that MERS does not own any interest in the debt and therefore does not meet the requirements under state statute to foreclose by advertisement (a foreclosure that goes through the courts is still valid). The decision could void thousands of foreclosures in Michigan, including properties that have already been sold. Yikes.

Congress Aims To Limit Powers Of The Consumer Financial Protection Bureau

2011-05-19T00:01:00.000-04:00

The Consumer Financial Protection Bureau, a federal agency in charge of financial, credit card, and mortgage oversight created as part of the Dodd Frank Financial Reform Act, may be toothless before it even gets started. The CFPB was slated to start operations in July, but Congress is considering measures that may weaken it before it even starts. Already last week, the House Financial Services Committee passed three bills that sought to take control of the CFPB. Among other things, the bills created a bipartisan commission to oversee it and made it easier for other regulators to veto any new CFPB rules.

The CFPB is headed by Elizabeth Warren, a relentless critic of these powerful financial institutions (thus the big fat bulls-eye on her back). The CFPB has already started working on regulating mortgage loan disclosures, with the "Know Before You Owe" project, designed to clearly spell out loan terms when a borrower applies for a mortgage.

More on the brewing battle from MSNBC.

Bank Of America Credit Card Holders - Beware

2011-05-17T00:01:00.000-04:00

I just received a good news/bad news notice from Bank of America regarding my credit card (a card with a zero balance that I keep for emergencies only). The good news in big bold print: We are not increasing your APR! The bad news in not so bold print: We are adding a penalty APR to your account. If you pay late we MAY (translation: we WILL) charge a penalty APR on new transactions. Flip to the next page find out that the penalty APR if I'm late on a payment is UP TO (translation: WILL BE) 29.99%!! Oh, and that can go up even higher if the Prime Rate rises. Sweet deal B of A! I'd love to see how you treat clients who AREN'T in good standing.

Needless to say, my B of A card will be gathering moss from now on. If you're a B of A credit card holder, I'd strongly suggest you review your credit card terms.

New Security Features For Michigan Driver's License

2011-05-13T00:01:00.030-04:00

If you've renewed your Michigan driver's license or Michigan state I.D. in the last month, you've noticed some changes. In addition to a new look, Michigan I.D.s now feature several added security measures to help prevent fraud and tampering. New features include:

The state's Great Seal on the front viewable under black light.
Tricolor image of a bridge on the front that appears and disappears when viewed from different angles.
New two-dimensional bar code on the back with encoded information available for law enforcement use, in addition to the existing magnetic stripe and one-dimensional bar code.
Card-holder's photo and date of birth also on the back viewable under black light.
Laser-perforated word "MICH" on it.

Old I.D.s will be replaced as they come up for renewal. This is the first update to the Michigan I.D. since 2003.

Notary Newsletters Coming Out Of My Ear

2011-05-10T00:01:00.000-04:00

You want to increase your visibility as a notary. You want to create traffic, establish your reputation, show that you're knowledgeable, and show that you're a leader in the industry. And you decide one of the ways you can do this is to develop and distribute a newsletter. Great idea. Those are some of reasons I've been doing this blog for almost 4 years.

But what I've seen too often lately, what is just totally unacceptable, is signing people up for a newsletter that they didn't ask for. Suddenly, many of us have been inundated with notary newsletters. And a few of them may actually be decent, but that doesn't matter. You don't sign people up if they don't request it. Otherwise, it's called SPAM. At the very least, it's highly annoying and tacky. And at most, it's illegal and can land you a nice hefty fine for every instance.

So, you want to do a newsletter? Peachy. But don't swipe your colleagues emails from Notary Rotary, Active Rain, Notary 123, Merchant Circle, LinkedIn, or anywhere else. Ask permission, post it on your website and other listings, and create a Facebook page and ask for "likes," (which is what the American Association of Notaries did, and I happily accepted). Otherwise, it's just more unwanted noise.

Takin' Care Of Business

2011-04-25T00:01:00.005-04:00

Listing Site For Notary Signing Agents & Real Estate Professionals

2011-04-21T00:01:00.000-04:00

Another place to list your notary signing agent business or real estate business for free: CourtHouseSquare.com

Tax Day In Michigan?

2011-04-18T11:14:00.003-04:00

Seriously?

Sustainability & Your Business

2011-04-18T00:01:00.001-04:00

I've been reading a lot lately about sustainability, especially as it relates to business. Simply put, sustainability is about creating a business with a long term viable future.

In my prior life as an insurance agent, sustainability meant building a book of business and creating a pipeline of renewable income. The goal was to have a set of clients that brought in income year after year. As a notary signing agent, the goal is much the same. Sustaining a current base of clients (title companies, mortgage companies, signing services) is much easier and much more conducive to long term success than continually having to seek new clients and new relationships. I think it's important to remember. We sometimes focus so much on finding new business and clients that we forget how important it is to cultivate our current relationships. A strong, viable future means building a relationship with your clients that lasts year after year. That relationship can't be ignored.

Take the time to remind your current clients what it is you offer them and how important their business and their success is to you. Keep the lines of communication open. Thank you cards, follow up phone calls, & personal visits are essential. Never take them for granted. They are your greatest asset.

New Mortgage Servicing Rules On The Way - But Will It Matter?

2011-04-13T12:39:00.001-04:00

According to the USA Today, federal banking regulators are preparing to announce new rules for mortgage servicing companies. In addition to requiring servicers to follow state and federal laws in dealing with borrowers (well, aren't they ALREADY required to follow state & federal laws?), companies would also be required to:

-Stop foreclosure proceedings when delinquent borrowers are in compliance with terms of modified loans.

-Give distressed homeowners a single person to contact at the giant companies.

-Hire independent consultants to review some of their foreclosures.

-Require companies to make sure they have enough workers and that those workers are properly trained.

To summarize, these NEW rules will require companies to follow existing laws, stop foreclosures when people are complying with their terms, give consumers someone to talk to, review their procedures, and hire and train adequate workers. We need new laws for this? Shouldn't servicers already be doing all of this at minimum? Color me unimpressed.

The Fat Lady Hasn't Sung Yet

2011-03-29T14:25:00.000-04:00

Home prices continue to fall in every major city (except our lovely nation's capital), and Atlanta, Las Vegas, Detroit and Cleveland have now hit levels not seen since the 90's. This feels like the Caribbean limbo, a game of how low can you go.

It's Baaaaaaaaack

2011-03-23T21:44:00.000-04:00

Remember the Adjustable Rate Mortgage? The mortgage that caused so much trouble during the sub-prime debacle? Well, it's back. New and improved:

From MSN Money - The ARM is back, should you bite?

American Association of Notaries

2011-03-13T17:59:00.001-04:00

The American Association of Notaries is a great resource for information, knowledge, notary supplies, and more. You can follow them on their new Facebook page: American Association of Notaries

Where To List Your Local Business

2011-03-10T00:01:00.002-05:00

2 articles from Hubspot:

A recent survey comparing lead generations via Facebook, LinkedIn, Twitter, & company blogs found that LinkedIn was most effective for business to business leads. Surprised? I am.

Also from Hubspot, 50 business directories for local marketing (with links to their sign up pages).

Audit Traps

2011-03-09T00:01:00.000-05:00

7 Red Fla gs that could trigger an Audit:

1. Failing to include a form 1099 or other income (the IRS matches 1099s in their records to your return)
2. Inflating home office deductions (your home office should be used "exclusively and regularly for your trade or business.")
3. Citing too many losses on a Schedule C (filing a loss year after year is a red flag)
4. Claiming disproportionately high charitable deductions
5. Using too many round numbers (tax return numbers should not be estimates, they should be exact)
6. Reporting rental real estate losses when you don't materially participate
7. Citing too many business-related deductions (expenses should be ordinary and necessary)

Business Is So Slow And It's Not My Fault

2011-03-04T03:24:00.002-05:00

Today I was contacted by a Metro Detroit Title company looking for notary signing agents to handle in-house closings a few days a month. I've done several mobile closings for them in the past. Good company, fair pay, pays in less than 30 days. Great, where do I sign up? But before I can start, they want to meet me in person, ask some questions, and get to know me a bit more. You'd think the easy response to that would be "absolutely!"

But I'm reminded of a story another notary signing agent told me a few days ago. Another Michigan title company was also looking to add some notary signing agents to their roster. They also had the idea that they wanted to meet and interview these closers beforehand. According to the title company, 40 interviews were set up. How many signing agents showed up? 14. And I just can't help but wonder, are many of these 27 no shows the same people that are constantly complaining about how slow business is right now? Here's some business. Someone is trying to hand it to you. Just show up, be professional, show them you know what you're doing, and you're in. How easy is that? Why would you not get out from behind your computer and get some quality face time with a company that wants to work with you?

Marketing your notary services (or any service) isn't just about listing yourself online, sending emails, and filling out sign up packages. Face to face contact is critical. There's nothing more powerful than showing a potential client that you're, you know, a real actual homo sapien. Let them see what you can offer with their own eyes.

As you can probably guess, my response to the title company that wants to meet me was absolutely yes. Why wouldn't it be?

Should You Walk Away From Your Mortgage?

2011-02-24T13:42:00.000-05:00

Video from MSN Money

2011-02-18T16:00:00.002-05:00

It's hard to do a mortgage signing when someone is looking over your shoulder. It's even harder when they're actually SITTING ON YOUR SHOULDER.

You Get What You Pay For

2011-02-15T12:11:00.001-05:00

That's what I try to tell potential clients when their main (or only) concern seems to be in finding the cheapest notary signing agent to handle their closings. You may save a few bucks in the short term, but how long before errors, lack of experience, and lack of professionalism catch up with you and your bottom line? It's inevitable. Robert Franco at Source of Title just posted an interesting story about a client who left for someone cheaper. I think the story fits in perfectly with what routinely happens in the notary signing industry.

Source of Title Blog: So, How's That Working Out For You?

Sample Loan Packages For Every State

2011-02-14T00:01:00.000-05:00

If you're a new notary signing agent preparing to handle mortgage loan signings, having a sample loan package to review can be extremely useful before heading out for signings. I've added a link on my notary resource page that provides sample loan packages for every state. You can find it under the heading "Forms, Documents, Resources." Don't expect to see all these loan documents in every package, but these samples seem to do a very good job of covering 99% of the mortgage documents that you might come across.

Thanks to Cody Doty for posting this on Notary Rotary.

The Good News Is That The Bad News Is Not So Bad

2011-02-11T12:18:00.000-05:00

So it's come to this. We consider it good news when the bad news isn't as bad as we thought it would be or isn't as bad as it was before. So, here's the news: Metro Detroit home values have dropped for the 4th year in a row. But wait, the values didn't fall as bad as they have in the last two years. Good News! Yay! OK, it does suggest to some experts that values are FINALLY bottoming out.

From October 2009 to Sept 1st 2010, values dropped an average of 7.5% in Oakland County, 8.73% in Wayne County, and 9% in Macomb County.

Buy, Don't Rent

2011-02-07T03:23:00.001-05:00

According to Trulia, it costs less to buy than rent in 72% of the top 50 major U.S. markets. Sounds like a no-brainer. Unfortunately, higher credit score requirements, larger down payment requirements, and stricter underwriting guidelines make buying easier said than done.

Elizabeth Warren Is Watching Our Backs

2011-02-04T00:01:00.001-05:00

I seriously like this woman. Elizabeth Warren was appointed by President Obama as a special advisor to help set up the Consumer Financial Protection Bureau, a federal agency in charge of financial, credit card, and mortgage oversight. The agency creation is part of the Dodd Frank Financial Reform Act. Thought the CFPB won't have rule making power until July 21st of this year, Warren has been an active and vocal advocate for years, and has already been meeting with banking executives and consumer groups. One of her first goals will be to make the true cost of financial products easier to understand:

"Think about how long a credit card agreement has become," said Warren. "It's become pages and pages and pages of largely incomprehensible fine print. In effect, it's paperwork that says "Don't read me," and that's a real problem. Because hiding in that fine print can be anything. So one of the things we want to push toward is trying to clear out that kind of shrubbery. So that if there are real changes that a company is proposing, they stand out. They're not camouflaged by all those other words."

Hmm. Couldn't that philosophy work with mortgage documents too? Haven't we all seen the "shrubbery" in loan packages? Endless disclousures, repetitive forms, confusing wording, the same thing over and over. A mortgage package could be cut from 100 pages to 25 pages and still say the same thing without overwhelming the consumer. I sure hope that's on her radar as well.

More from ABC News (Oh, and I love the photo. Seriously, you wanna mess with her?)

National Snow Day - Snowpocalypse 2011

2011-02-02T04:15:00.003-05:00

2011 Rescission Calendar

2011-02-02T00:01:00.006-05:00

For those who are mathematically challenged, the 2011 Rescission Calendar for calculating a borrower's 3 day right to cancel is available for download. You can find it on my resource page under Forms, Documents, & Resources.

NASS Releases A Summary Of Key Notary Issues

2011-01-30T00:29:00.001-05:00

The National Association of Secretaries of State released its report summarizing state notarization policies in key areas. Let's call it the 2011 notary state of the union report. The report covers 4 key issues:

Basic Notary Practices (which covers the general functions of a notary, including acknowledgments, jurats, and in some cases certification of true copies)
State Commission and Regulation of Notaries (including how to become a notary in each state and seal requirements)
Electronic Notarization (including which states allow e-notarization).
Recognition of Out of State Notarizations (including a discussion of the much talked about and blown out of proportion Interstate Recognition of Notarizations Act)

You can download the PDF report from www.nass.org. I can also send a copy to anyone who requests it. Email me at alex@detroitnotary.com

How To Get A Mortgage In 2011

2011-01-24T00:01:00.000-05:00

From Bankrate.com: 10 tips to snag a mortgage in 2011

1. Have the right credit score (740 or higher gets you the best deal)
2. Protect & preserve your credit (multiple credit inquiries within a few weeks of each other will only count as one inquiry)
3. Shop around (compare rate, fees, points, terms)
4. Know your borrowing limit (payments of no more than 28 - 30% of your gross monthly income)
5. Don't reset your refi calendar to 30 years (amortize the new loan for the remaining period of the old loan)
6. Consider a no closing cost refi (but understand you may end up with a slightly higher rate)
7. Small down payment? See the feds(FHA loans require less down)
8. Small loan? Act Early (the rules are changing April 1st and loan officers might not want to spend time on a smaller loan)
9. Make an extra payment any time of year (pay your loan off early)
10. Behind on your payment? See a counselor (you're more likely to keep your home and qualify for a loan mod if you receive certified foreclosure counseling)

Michigan Running Out Of Home Buyers

2011-01-21T00:01:00.001-05:00

The 2nd highest unemployment in the country. The 9th worst vacancy rate. The worst population decline in the last 5 years. According to The Wall Street News, those combined factors put Michigan number one on the list of states running out of home buyers.

To Seal Or Not To Seal

2011-01-19T00:01:00.002-05:00

Notary Seal Requirements for every state.

Notarizing By Video?

2011-01-17T00:01:00.001-05:00

There's been quite an uproar over the last few days about notarizing by video. First, a company called Notary Now popped up on everyone's radar. The company claims to offer video notarization. You upload your ID and then the company uses online video technology to witness the signature of the individual. Notary Rotary has been buzzing about it, as has the Secretary of State notary administrators. And now the state of Virginia is consider a bill to allow similar video notarization.

The pitfalls are numerous. The uploaded ID can be forged or altered. Directly viewing an ID is paramount to fraud prevention and identity theft. The signer could be coerced or under duress by someone off camera. But the biggest problem I see with all of this is that witnessing a signature by video does not, in my opinion, meet the standard of personal appearance. In an age of increased fraud, identity theft, and robo-signings, the LAST thing we should be doing is making it easier to perpetrate a fraud. There seems to be a unanimous thumbs down from notaries, secretaries of state, and the NNA.

Say no to video notarization. To vote on the two Virginia bills, you can go here & here.

If You Think We've Seen The Worst Of It...

2011-01-13T12:18:00.000-05:00

2011 predicted to be the worst year yet for foreclosures.

Chalk One Up For The Little Guy

2011-01-07T19:46:00.001-05:00

In a ruling with major national implications, the Massachusetts Supreme court voided the foreclosure of two homes by Wells Fargo and U.S. Bank after the banks were unable to provide proof that they held the mortgages at the time of the seizure. Foreclosures without proper documentation have been a hot topic, with other cases pending and all 50 state attorneys generals examining the issue. The problem occurs when a mortgage is sold or transferred to another servicer without sending or transferring the corresponding mortgage documents.

Justice Ralph Gants wrote that Wells Fargo and U.S. Bancorp "failed to make the required showing that they were the holders of the mortgages at the time of foreclosure." And Justice Robert Cordy condemned "the utter carelessness" that the banks showed in attempting to document their right to the properties.

Banks And Politics

2011-01-06T15:05:00.000-05:00

Just in case you didn't know how much banks and politics are forever intertwined: Obama names former bank executive William Daley as his new Chief of Staff.

Home Trends For 2011

2011-01-06T00:01:00.000-05:00

From MSN Real Estate - Home Trends For 2011

1. Smaller homes that 'live' the same - modest homes with smaller rooms

2. The old front porch, revisited - creating a sense of community

3. A ‘greener’ home - energy efficiency is the trend

4. No 'upstairs, downstairs' drama - single story homes easier for aging baby boomers

5. The downscaled kitchen and bath - functionality and practicality are the rules

6. A home that serves you well - value and efficient features

Bank of America - Wikileaks Next Target?

2011-01-04T00:01:00.002-05:00

Is Wikileaks taking aim at Bank of America ? It sure looks that way. On Nov. 29, WikiLeaks director, the now infamous Julian Assange, announced that he was ready to “take down” a major American bank and reveal an “ecosystem of corruption” with a cache of data from an executive’s hard drive. Assange plans on releasing the information sometime early this year. Though never specifically naming B. of A., a year earlier Assange disclosed that Wikileaks had obtained the hard drive of a Bank of America executive containing five gigabytes of data (equal to approximately 200,000 pages of text) and was evaluating how to present it.

Since the Nov. 29th statement, Bank of America has been conducting extensive internal audits to determine what Assange might have on them. B. of A. claims that to date, their internal audit has revealed no evidence that Assange might have one of their hard drives. They've made no comment on what else their audit has or has not discovered.

Stay tuned...

Michigan Ponzi Schemes

2010-12-28T17:25:00.000-05:00

If you receive a call from any of these 11 people asking you to invest in a can't miss get rich investment, RUN FORREST, RUN!

From MLive: The Scam List

John Bravata: Billionaire Boys Club (stole $53 million from investors)

David McQueen: The 'diversified' companies

Dante DeMiro: Municipal scheme (he raked in money from schools and local governments)

Michael Winans Jr.: Saudi oil bonds (from the Winans gospel family - used his famous name and connections to bilk local clergy out of $11 million)

Mark Carpenter: All for God (if you can't beat em, join um - got scammed by Winans, and decided to join in)

Martin Royster: 240 percent returns (well, if you're foolish enough to believe in 240% returns, maybe you don't deserve your money)

Scott Pionk: A gambling man (when he said he was going to invest his clients' money, he apparently meant at the craps table)

Roger Clark: 'Successful advisor'

Raymond Joseph: Personal expenses

Richard Johnson: For charity (investors thought they were buying products that benefited charities)

Rita and Richard Gosselin: On the run (any relation to Kate?)

Happy Holidays

2010-12-24T16:08:00.002-05:00

5 Mortgage Trends For 2011

2010-12-20T00:01:00.015-05:00

MSN Money predicts the mortgage trends for 2011:

1. Mortgage rates will stay low
2. Foreclosure "overhang" possible
3. Processing times will remain long
4. Temptation grows for zero-cost refinances
5. Jumbos look attractive, but buyers are scarce

The Treasury Department Jumps Into the Blogosphere

2010-12-19T00:01:00.000-05:00

This month the U.S. Treasury Department joined the world of blogging. The blog is aptly called Treasury Notes (Treasury Notes, get it?). "Treasury Notes will be a place where senior officials and staff throughout the Department and Bureaus will post news, announcements and information so you can learn more about us and the work we do here at the Treasury." OK, that sounds sort of cool to me. They've also set up accounts on Facebook and Twitter.

Treasury Notes kicked off their first in a series of “Five Questions” interviews with Elizabeth Warren, Special Assistant to the President and Special Advisor to the Secretary of the Treasury.

Lender Instructions To Signing Agent - Would You Really Do This?

2010-12-16T00:01:00.001-05:00

This week I received a U.S. Bank loan package with the following instructions: "Borrower must sign exactly as name is typed. If typed name is not correct, add "also known as" or "formerly know as" language to the signature line. Say what? If the lender mistakenly spells the borrower's name incorrectly on their loan documents, the borrower should sign that they are know by that name or were formerly known by that name even though they aren't? Absolutely no way. Seriously, who thinks of this stuff?

Your Home Value - Do Appraisers Even Know What It's Worth?

2010-12-15T00:01:00.000-05:00

Over the last two years, I've been lamenting about the fact that appraisers are valuing homes brutally low with little reasoning or accountability. We've gone from appraising homes at artificially high values to appraising them at artificially low values (to an appraiser, apparently every home looks like the one on the left). Or as Walter Molony of the National Association of Realtors puts it, "There's been a pendulum swing in appraisals comparable to the one we've seen in mortgage credit, from foolishly lax to overly restrictive."This special report from Reuters documents the frustration and struggles that homeowners are having with trying to get a fair and reasonable home value assessment:

Reuter's Special Report: What's Your Home Worth? Pick A Number, Any Number

Sticking With The Holiday Gift Giving Theme

2010-12-14T00:01:00.001-05:00

Here's another unique holiday gift idea I've used in the past: Jillian's Giant Fortune Cookies. The cookies come in several flavors and gift baskets are available. The fortune is completely customizable. I created six messages that promoted my business and emphasized why they should use me for their mobile closing needs such as "experienced full time closer," "over 6000 signings performed," "reliable and courteous," etc. The cookies are handmade, hand-dipped, and absolutely delicious.

Another Holiday Gift Idea

2010-12-12T17:07:00.000-05:00

Here's a nice little idea for your business or a holiday gift idea for your favorite clients: Tuxedo Self-Inking Artistic Stamps. Create a customized logo for your business or have one created for your client. Use the stamp on envelopes, letters, or any mailings or correspondences. They can be purchased at Notary Rotary (about half way down the page).

Say Thank You With Chocolate

2010-12-06T03:13:00.001-05:00

Although the commercials and music started in October, I can't think about the holidays until the calendar hits December and the temperature dips below freezing. Well, it's that time now. And now is a great time to say thank you to your best clients. If you're looking for something special to give to your clients at a reasonable price, here's a suggestion: Haute Chocolat (that's the fancy French spelling for chocolate). These homemade chocolate pots are the most amazing things you've ever tasted. I gave them to my clients last year and I've also served them at parties. My clients and my guests raved about them. I loved them so much that I offered to redesign their Haute website for free (and no, I didn't get any free chocolate out of the deal. Booooooo).

It is far and away the best chocolate I've ever had. Your clients will love them. And you'll hate yourself if you don't order a box for yourself.

No, it isn't much help...

2010-11-28T23:01:00.000-05:00

You Can't Afford It - But It's Fun To Dream

2010-11-23T03:04:00.000-05:00

10 of the most beautiful exclusive gated communities in the U.S.

If You're Going To Donate Money, Give It To A Worthy Cause

2010-11-18T00:01:00.017-05:00

It's that time again when second rate notary listing companies seem to be inundating our inbox with offers to sign up for their service at the low, low price of $XX. I guess they need their holiday shopping money. Why would you spend your money on listing sites with no proven track record whatsoever? The top notary listing sites don't need to send you constant spam email to sign up. They're already well know in the industry. So if you're going to donate your money, give it to the guy ringing the bell outside your favorite store instead.

Lenders vs Lawmakers - The Rematch

2010-11-15T13:26:00.001-05:00

Executives from Bank of America, Chase, and other major lenders face Congress in dual hearings this week. On Tuesday and Thursday, lenders will be asked to explain issues such as robo-signing and the lack of substantial loan modifications. Cue the Ringling Brothers music...

Confessions Of A Robo-Signer

2010-11-13T16:40:00.001-05:00

This is pretty damning...and pretty embarassing:

More at Huffington Post

Update 11/29/10: This video has been removed? I'm not surprised. Like I said, it was pretty damning.

New Refinance Program May Help Those Previously Out Of Luck

2010-11-12T20:05:00.002-05:00

If your home loan is owned by Fannie Mae or Freddie Mac and you're underwater, you have programs available to help you refinance. If your loan isn't owned by Fannie Mae or Freddie Mac and you're underwater, you've been pretty much out of luck. But maybe not for long. In September, the FHA announced a program for homeowners who are underwater on their mortgages called the FHA short refinance option. it’s a refinancing plan for borrowers who do not have FHA loans and are current on their mortgage payments. The borrower must apply for the loan under standard FHA requirements including a credit check. A minimum 500 credit score is required and the property must have a loan-to-value ratio of no more than 97.75%. Unfortunately, the program is 100% voluntary and lenders must be willing to write off at least 10% of the original home loan. The program hasn't rolled out yet, but when it does, let's hope lenders are willing to participate. Wishful thinking, I know...

Homeowners Claim Lenders Aren't Honoring Loan Mods

2010-11-08T00:01:00.000-05:00

Talk about pulling the rug out from under us. Borrowers across the nation are claiming that lenders offered them loan modifications under the Home Affordable Modification Program, set up lower payments for borrowers, and then later decided that the lower payments were not acceptable, despite the fact that the homeowners were making their required payments on time. The lenders then reverted to the old payment and foreclosed on those who were unable to pay the higher amount. Nice. If the claims are true, the evidence mounts that lenders still refuse to play fair with the American people and our government continues to allow it.

The Financial Crisis Talk Center

2010-11-05T00:01:00.000-04:00

On Saturday mornings from 8:30 a.m. to 10:00 a.m., WDFN 1130 in Metro Detroit airs the Financial Crisis Talk Center. The program offers discussion and advice on navigating the current mortgage and financial situation. The FCTC website offers free seminars, resources, a discussion forum, articles, and more.

Our Newest Michigan Notary Network Member

2010-11-03T01:17:00.002-04:00

We've added another member to our growing Michigan Notary Network. Suzie Baker is in Dexter, Michigan and provides mobile loan closings covering Washtenaw, Livingston, Lenawee, Shiawasee, Ingham, Monroe, & Wayne County, Michigan. Suzie is a full time signing agent and has been in the mortgage and title industry for almost twenty years as a title examiner and closer. She has the knowledge and experience to handle all your mobile closing needs.

The Michigan Notary Network Website

Bankrate.com

2010-10-27T00:01:00.007-04:00

Compare interest & CD rates, shop lenders, watch mortgage trends, read expert analysis of home loan financing, and keep up on mortgage news: Bankrate.com

Can You Notarize Or Certify An I-9 Employment Verification Form?

2010-10-25T00:01:00.003-04:00

Notaries often get called to notarize or certify an I-9 employment verification form. If you've ever seen the form, you'll notice that there's no place for it to be notarized and no notarial wording anywhere. And since, at least in Michigan, notaries can not certify documents, you can't do anything with this form, right? Well, maybe you can.

I've always turned these down due to the reasons above. But I was recently edumacated by another notary about a process for handling these forms. First, here's the wording on the I-9 where the person certifying it would sign:

I attest, under penalty of perjury, that I have examined the document(s) presented by the above named employee, that the above listed document(s) appear genuine and to relate to the employee named, that the employee began employment on ___________ and that to the best of my knowledge the employee is authorized to work in the United States.

You're then required to sign as the employer or authorized representative. You clearly can't notarize this. And you're not the employer or authorized rep. But as my colleague so deftly points out, all that's required is for the employer to name you as an authorized representative. So if the employer provided a letter or email authorizing you to act as their representative for the purpose of verifying and certifying the I-9, you're free to sign it. The key to this is that you are not doing this in the capacity of a notary. You're signing as a representative of the employer, which you would be with proper authorization.

Think Big Work Small

2010-10-22T00:01:00.001-04:00

In 5 minutes a day, get your daily mortgage news in a highly entertaining and understandable manner: TBWSDaily.com

An Important Reminder From The NNA!

2010-10-20T00:01:00.001-04:00

Many of you probably received an email last week from the National Notary Association entitled "To America's Notaries - Important Reminders From The National Notary Association." The email lists 10 important rules for notaries to follow. Unfortunately, many of those guidelines do not apply in certain states.

Number 2 on the list - "Always obtain proper ID - including a photo AND physical description of the signer." Best practice? Yes. Most states require a photo ID, but not all. Pennsylvania for one.

Number 3 - "Always make a complete record of your notarial act - including the signature of the signer in your journal." A complete record? Yes. But several states do not require a journal. Michigan is just one of many that does NOT require a journal.

My favorite, Number 4 - "ALWAYS ask for a thumbprint of the signer in your journal to help protect against impostures." A thumbprint? Again, many states do not require a journal OR thumbprints. If you asked someone in Michigan for a thumbprint, you just might get thrown out on your can. I can tell you that I would absolutely refuse if a Michigan notary asked for my thumbprint.

Number 7 - "Always notarize only those documents that are complete, no blanks." Not all states have that stipulation, and here in Michigan, the lawmakers purposefully REMOVED that requirement from the Michigan Notary Act.

Number 8 - "Always use a seal." Heavy sigh. Again.....NOT ALL STATES REQUIRE A SEAL. Michigan does not.

Now the one I absolutely agree with is number 10 - "Always remember that, as a notary public, you are a public official accountable in your notarizations TO THE STATE - AND TO NO ONE ELSE, including your employer." Yeah, let me add that you're not accountable to the National Notary Association either. You are responsible for following the guidelines set forth in your state notary handbook. NOT the guidelines set forth by a for profit organization such as the NNA.

So Much For A Thorough Review

2010-10-19T00:14:00.001-04:00

Bank of America plans to resume foreclosures in 23 states after determining that "the basis for our foreclosure decisions is accurate." Well there's a shocking revelation. B of A's own review says they did nothing wrong. Wow, who would have predicted THAT?

Update 10/20/2010: The FBI says "not so fast." The FBI launches an investigation into the robo-signings. At question is whether or not lenders were acting with criminal intent or merely overwhelmed by the number of foreclosures they've had to handle. In addition, attorneys general, state judges, lawyers, and lawmakers have all jumped into the fray. If Bank of America thought that a quick review and announcement that everything's peachy was going to be the end of it, they were grossly mistaken.

Interstate Recognition of Notarizations Act - Much Ado About Nothing

2010-10-18T00:01:00.007-04:00

The media hype is in full swing. On Thursday, the White House announced that President Obama would not sign H.R. 3808, the Interstate Recognition of Notarizations Act of 2010, a one page innocuous little bill that was UNANIMOUSLY approved by both the House and Senate. The bill will be returned to the House. The media has been frothing over this bill, claiming that the bill might bail out banks from their foreclosure robo-signing troubles. The bill requires the following:

Each Federal court shall recognize any lawful notarization made by a notary public licensed or commissioned under the laws of a State other than the State where the Federal court is located if—

(1) such notarization occurs in or affects interstate commerce; and

(2) (A) a seal of office, as symbol of the notary public’s authority, is used in the notarization; or

(B) in the case of an electronic record, the seal information is securely attached to, or logically associated with, the electronic record so as to render the record tamper-resistant.

Guess what? Notarizations are already recognized from state to state. And notice the wording says LAWFUL notarizations. Illegal acts are not something miraculously absolved under this bill. The purpose of the bill was merely to recognize technological updates like e-signatures and e-notarizations.

White House Communications Director Dan Pfeiffer released a statement saying "we believe it is necessary to have further deliberations about the intended and unintended impact of this bill on consumer protections, including those for mortgages, before this bill can be finalized." Notice he didn't say there was any such unintended consequence of the bill, just that the White House wanted a further review.

Personally, I do not support the bill only because it's pointless fluff. The National Association of Secretaries of State does not support the bill for similar reasons. There's nothing in the bill that's new or isn't already covered in other laws. But the outrage over this bill from people who seem to know little or nothing about notarizations is preposterous. Ignore the mindless hype and read the bill yourself.

New Signing Agent Requirements - Notarizing In Front Of The Signer & The 4506 Form

2010-10-16T00:01:00.001-04:00

Several title companies and lenders sent out emails this week about two new requirements for their closings. The first requirement is something you should already be doing. Lenders and title companies are now requiring that all documents be notarized in the presence of the signers. Many states already require this, but even in states where it is not required, it is certainly a sound practice to follow. There's an added level of integrity and validity in notarizing every document in front of the signer.

In addition, lenders will now require that the dates on the 4506 form be handwritten instead of typed in as some lenders currently do. You will see those pre-printed dates eventually removed so you'll have to make sure the borrowers are dating it themselves.

The Financial Crisis Was An "Inside Job."

2010-10-14T00:17:00.000-04:00

The much acclaimed documentary, "Inside Job," opens this week in selected theaters. The film documents the relationship between government and the financial industry, starting first from the great depression, then from the the 80's where the roots of our current (and avoidable) financial crisis began. Unlike some documentaries, Director Charles Ferguson doesn't have a party agenda. He points the finger at both Democrat and Republican administrations, from the Reagan era, through the current Obama administration:

The Michigan Notary Network Is Now On Facebook

2010-10-13T00:54:00.002-04:00

So many of us use Facebook to stay in touch with friends. We thought that Facebook would be a great way to stay connected with our fellow notaries, signing agents, title, & mortgage colleagues as well. So here it is: The new Michigan Notary Network Facebook page. Stop by, say hi, share some stories, & network with other industry professionals.

And The Robo-Signing Tally Keeps On Growing...

2010-10-09T02:16:00.003-04:00

Bank of America extends its freeze on foreclosures to all 50 states, and you can add PNC Financial and Litton Loan Servicing to the list as well. Hang on folks, we're just getting started...

Update 10/10/2010: And now, state attorneys general offices are getting into the act. Up to 40 states are planning a joint investigation into robo-signings.