Posted by GOLDGIRL/CA on 11/4/13 5:07pm
Msg #491229

Crystal ball .....

If I had to predict what's going to happen regarding all the uproar over the unwanted, uninvited and unappreciated counterproductive intrusion by the evil geniuses at the NNA into OUR businesses, I would say "nothing." I think the entire rollout by them was a master scheme solely to fatten their wallets. Now that they have sold everybody on the necessity of background checks "only through the NNA" with their accompanying required membership fees and certification fees, they see the gravy train rolling their way for years and years on end. They attempt to "legitimize" this money grab with insane signing scripts, new titles for NSAs and idiotic codes of conduct. Anything to make it look less than what it actually is.


The money is already pouring in, and they know it will continue to do so as a result of required annual background checks and membership renewals. Pretty soon, they'll just sit back, fat and happy, and we won't hear a peep out of them. After all, the NNA is all about making money and very little about protecting and supporting notaries and looking out for our interests and welfare.

Reply by Notarysigner on 11/4/13 5:10pm
Msg #491232

Re: Crystal ball .....That makes two!!!!!1 n/m

Reply by Shoshana/AZ on 11/4/13 5:27pm
Msg #491235

This all reminds of the hubub about ENJOA!

Do you all remember that? How many of you know anybody who bought into that? I had one friend who did.

Reply by ikando on 11/4/13 5:38pm
Msg #491237

Re: This all reminds of the hubub about ENJOA!

The difference here, in my opinion, is that the title/lending companies are following the suggestions of a private business to ONLY allow those notaries who comply with their suggested regulations be allowed to perform the services. With ENJOA, it was an option for those entities and an option for the notaries.

Reply by MW/VA on 11/4/13 6:20pm
Msg #491248

Agree 100% GG!!!! n/m

Reply by CarolF/NC on 11/4/13 6:47pm
Msg #491253

It Appears NNA will not be the only one authorized to issue

As many of you have heard, there are dramatic changes coming to the process of signing loan documents. The information that follows was announced at the Mortgage Bankers Association Convention in Washington, DC this week.
While no exact date was set, it was inferred that the industry would prefer to have these changes implemented by mid-2014. This will require a tremendous amount of work for all of us involved in the document signing business. The new designation for notaries will be CSS (Certified Signing Specialist) and that designation will require some work and some expense for all of us. You will not need a CSS Certificate to be issued by every individual lender, title insurance company, or signing service. One certificate will be accepted by everyone.
As of today, no one has been approved yet to issue CSS Certificates. There is a process that JMT (and any other company that is interested) will have to follow in order to qualify to issue them. JMT has started that process and we expect it to take a minimum of 60 days to receive approval to issue them. It may take longer because, frankly, the test questions that the notaries will have to answer on the certification test have not yet been finalized.
The following websites will allow you to see what was just announced on Tuesday of this week and allow you to see what is coming to our industry in the near future. I would suggest you look at them in order.
http://www.businesswire.com/news/home/20131029005730/en/Industry-Leaders-Announce-Mortgage-Signing-Standards-Improve
http://signingprofessionalsworkgroup.org/
The SPW (Signing Professional Work Group) has not established a timeline for implementation, but it was stated and the goal is to have everything functioning by mid-2014.
One important thing to remember: DON’T PANIC! We will keep you informed as this comes together and begins to reach the implementation stage throughout the industry. There are a lot of things that the SPW has not finalized and it is going to take some time. We just want to assure you that we will be ready and that we will help you be ready.
We will try to establish a method, possibly a Question and Answer blog, to discuss issues as they come up.
I appreciate the concern that you may have about this change. When I first heard about it Tuesday, I was concerned as well. After I had time to consider some of the possibilities of how we could address it, I felt comfortable that it would be manageable.
It will take work and some expense for all of us. JMT will strive to help keep both to a minimum. It is not our intent to profit in any way from providing the means for our associates to clear this hurdle, but it is our intention to provide what you need at cost.

Reply by ikando on 11/4/13 8:18pm
Msg #491263

Re: It Appears NNA will not be the only one authorized to issue

I clicked on your link and found this quote from the XYZ article:

“After the Consumer Financial Protection Bureau issued the ‘Service Providers’ Bulletin in April 2012, financial institutions have been held accountable for verifying the credentials of their third-party service providers,” said NNA President and CEO Thomas Heymann. “Until now, there were no consistent or broadly acceptable standards for the Notaries who represent lenders at the signing table.” This quote includes a link to the actual CFPB Bulletin, which I read.

I don't read anything in the CFPB Bulletin referencing service providers that requires anything other than due diligence of the service providers knowledge by the bank and nonbank hiring parties. In fact, by reading all of subsection C, The CFPB's Expectations, I see no mention of requirements for background checks, or any one entity given authority to make demands of service providers. Service providers (we NSAs in this case) should have policies, procedures, internal controls, etc. IN PLACE for review if requested.

In my opinion, as I interpret what has been presented, the only documents beyond those previously required by hiring parties should only be an affidavit of compliance with the CFPB required verification of policies, procedures, etc. But then, I'm not looking to build a profit center, even though in my other work, I do create the aforesaid documents for clients. ;-0

Reply by CarolF/NC on 11/4/13 8:25pm
Msg #491265

You are so dead on. n/m