Posted by jaxnotary031 on 11/18/13 2:13pm
Msg #493164

Mr Browne explains the SPW

This was a publicly posted answer by Mr Browne concerning the SPW on the Linkedin NNA General Discussion blog site

Thank you very much for posting these questions and comments. I trust you are an accomplished Signing Agent. There are hundreds of Signing Agents across the country that have honed their craft to perfection and need very little guidance or support, save for updates on state laws or the mortgage lending process. Knowing this fact, we also understand that NNA membership — or membership in any Notary organization — is not for everyone.

Now, about these SPW, Certified Signing Specialist standards coming in 2014 …
In order to understand what’s happening, it’s essential to understand the context. Under the continually-expanding umbrella of federal regulation and oversight, the mortgage finance industry is faced with the new, ultimate responsibility for ensuring that their service providers follow the law. A service provider that fails to uphold the law or has “weak internal controls” can harm consumers and create potential liabilities for themselves and their contracting firms. Put simply: the lenders and title companies are now responsible for ensuring legal, quality services are being provided by their third-party vendors. Every single link in the chain of the mortgage lending process is being examined, and that includes the Notaries they send to the signing table. That’s why the SPW was formed.

So … to begin to address your questions, none of the SPW’s work is intended to make life more difficult for Signing Agents (even though it doesn’t seem like that right now). The intent is to improve consumer confidence in the mortgage lending industry … a $310 billion industry that drives our economy.

As far as the signing agent part of the process, the SPW formed itself to achieve three results:

1) To comply with new federal guidelines by creating a system in which they can be more confident that the Notaries they are sending into people homes are trusted, well trained, ethical and have the customer experience in mind.
2) To ensure that borrowers have a uniform, positive experience at the signing table.
3) To create a single, standard certification model for Notaries that will be accepted by most, if not all mortgage lenders and title companies to prevent Notaries from having to get multiple background checks/certifications for different lenders/TCs.
So, the direct benefit for you and the many experienced Signing Agents like you is the fact that there is now a model for a single certification and background check standard that will be accepted industry-wide, which will reduce your cost of doing business because you won’t have to get multiple certifications or background screenings for multiple lenders/TCs. The secondary benefit is the reduced cost of E&O insurance, as the industry is requiring (smartly, I might add) only $25k in E&O coverage. Signing Agents have the choice now to ditch their high-limit policies, which we have found through our loss data and analysis simply add up to lawyer-bait.
I would like to add that, when the new Signing Specialist Standards roll out in 2014, multiple vendors will be approved to administer the certification. Nobody will be certifying Signing Specialists until 2014.

On another note, yes, to achieve this certification the industry is requiring an annual exam and background screening to maintain it. Remember the lenders are responsible for the performance of the third-party vendors they are sending into people homes to handle signings, so they felt this change was a necessary check-and-balance. A lot can happen with a person in a year. The annual renewal cost the NNA will charge when the program rolls out will be $65 for the BGS and exam. That’s it. Other vendors prices may vary.

In the end, the actual value of the certification will be your ability to work for the widest number of lenders and title companies with a single certification and background screening. As far as the training aspects (code, script, etc.) the more experienced Notaries will see very little value here. But they will be extremely valuable for the thousands of less experienced signing agents.

I would like to close with this: The work of the SPW is completely transparent, as their entire work product can be viewed at signingprofessionalsworkgroup.com. Individual notaries can have a voice by speaking out here on social media (which everyone in the Notary industry is watching), by contacting the SPW officers with your concerns or via the SPW Notary Advisory Committee, which will be established soon.

Finally, with reference to buy in, probably the most important message here is nobody HAS to do anything. As an independent businessperson amid a sea of competing signing agents, getting Signing Specialist Certification—when it becomes available—is purely a business decision for each individual Notary. Many will see value in it, some won’t. As an industry- standard certification model, it is possible that the majority of lenders and TCs will adopt them, it is also possible that some won’t.

The choice lies squarely with each individual Notary professional. And the NNA will be here to assist anyone who needs us.
-Phillip
This was a publicly posted answer by Mr Browne concerning the SPW on the Linkedin NNA General Discussion blog site.

Reply by FGX/NJ on 11/18/13 2:49pm
Msg #493167

"I would like to add that, when the new Signing Specialist Standards roll out in 2014, multiple vendors will be approved to administer the certification. Nobody will be certifying Signing Specialists until 2014. "

See, there is nothing to worry about,plenty of sources besides NNA???????????????

Reply by JanetK_CA on 11/18/13 3:07pm
Msg #493169

Here's the biggest thing that jumped out at me when reading this, regarding the "results" they're trying to achieve:

"2) To ensure that borrowers have a uniform, positive experience at the signing table."

Seems to me they're going about this all wrong. If they want both "uniform" and "positive", they should be focusing on the borrowers, since they're currently about as "un-uniform" as they can get. I don't see how forcing uniformity upon an enormously diverse group of people, with enormously diverse situations, types of loans, types of loan docs, etc. can end up in a positive experience, except for those few who happen to fit the norm.

In order to end up with a good solution to a problem, you have to start out with the right goals. And in order to do that well, you have to properly identify the problem. I think someone posted something over the past couple of days about this whole effort being just about "checking a box" so the lenders can show something proving "compliance" with the CFPB mandates. A very apt description, imo. Some parts of this process make some sense to me (I'm OK with an annual BGS), but other parts (like the script) feel like mere window dressing and are more than a bit over the line, imo.

If someone is truly properly trained, they shouldn't need a script - especially one that is so basic. I'm not convinced that this "certification" process accomplishes that, especially if no new material is provided each year for the "re-certification". And what are those newbies going to do when they get to a document that isn't included in the script? Rote memorization doesn't teach someone how to think and reason in any given situation, and that - along with at least a basic understanding of the rest of the process - is what is needed to do this work well.

Reply by leeinla on 11/18/13 5:06pm
Msg #493185

I wonder if the NNA approached lenders first or was it vise versa. Why can't we have a vendor neutral party issue background checks and certifications. I could be wrong, J.P Morgan Chase is not on the list of lenders. The industry is lacking common sense and not useless certifications.

Reply by Notarysigner on 11/18/13 6:22pm
Msg #493194

My area is very diverse. Some borrowers only care about the HUD1 and TIL, NOTE...could care less about the other Docs. Some want to read and have everything explained and some, business savvy will sign in 22 minutes. Why would you try to read a "script" to these folks, you'll be asked to leave.

Reply by Matt_VA on 11/19/13 8:05am
Msg #493221

Well said Notarysigner. Many of the signers in my area are so educated and savvy they will be squirming in their seats and very likely be insulted. I think many borrowers will think a script is cheesy.

Reply by MW/VA on 11/19/13 9:48am
Msg #493236

I've used a "script" for most of my NSA career & it works

well for me. I'm not saying I agree with theirs, though.

Reply by Stoli on 11/18/13 4:35pm
Msg #493182

Good answer, Janet n/m

Reply by MW/VA on 11/19/13 9:52am
Msg #493237

I do wish this "explanation" had come out earlier & a lot

of the panic could have been avoided.
I'm not sure about the idea that we'll save money by only be required to carry $25K E&O. It was the NNA that pushed for $100K coverage in the first place. Standard E&O doesn't cover us as Signing Agents either.
I wouldn't have a problem with the proposed standards if it wasn't NNA behind it, who stands to profit by it.

Reply by C. Rivera Chicago Notary Services on 11/19/13 10:11am
Msg #493239

my .02

The NNA has been getting their feet wet in this industry since its inception. And in some states, such as mine, they've managed to convince the SOS to put their name and link on my state's website for those interested in becoming a notary. This organization is huge and vast, and I think that most of us have underestimated just how much pull the NNA has in our industry. Now what gets me is the NNA's new baby, the creation of the SPW. Some have insisted that they are NOT involved but merely advisors. But we all know that the blog website was created by the NNA, proven by me here on NotRot, ergo SPW is the NNA.

Now my question is WHY? Why did they create a new "title" and a whole new set of "standards" when they clearly have already established all of this? I don't think anyone has asked that question. My guess is that the NNA is worried about their bottom line, and probably took a financial hit, since there are now uptine "certification programs" out there. How do they stand out from the crowd? Well, my conclusion is that the NNA created the SPW out of greed. And its an ingenious marketing tool and biz move, if one really thinks about it. And there is no group out there that can get a way with doing this. They've not really changed the standards as they are only slightly worded differently from what they've already established with their NSA cert program. And think about it, they would've not gotten this much attention if say they added something to its already established cert program. So someone came up with creating a whole new name and bogus workgroup and boy it paid off...the SPW is the main buzz on NSA's lips online everywhere! MISSION ACCOMPLISHED!

Now, if this this new workgroup gets endorsed by the MBA then they're half way there to their ultimate goal, which is IMHO, total monopolization of the NSA certification program. They're next move is to get the CFPB to recognize and accept this new workgroup and its standards so as to complete its monopoly in our industry and in this market.

Once its legal, then it will be "standard" that each NSA be certified, and abide by a set of standards, exclusively by and through the NNA via the SPW.

Reply by ikando on 11/21/13 2:19pm
Msg #493579

Re: my .02

Carrie, we're both on the same page. Here's what I've been posting on Linked-In.

The NNA is only a for-profit organization and does not have authority over any of our Notary Signing businesses. HOWEVER, because of their name (National Notary Association) and their PR expertise, many state legislative bodies take the easy route of using them as a way to determine what to do within their jurisdictions with regard to Notaries Public. So our best recourse, in my opinion, is to be sure to make the REAL Notaries Public voices heard with regard to the services we offer to the mortgage industry and others. If we don't stand up to the NNA, those busy legislators who don't have time to read the bills before they vote, will take the opinion of the lobbyists who are in front of them to pass the laws that affect us.

We Notaries Public need to stand together if we want to NOT have the rules NNA-SPeW is putting out there enacted by our governing entities. Check out what's happening at www.AmericanNotarySigningAgents.org. That group is working to offset the requirements being pushed upon our private businesses by an organization that does not represent us.

Reply by MAC/WA on 11/19/13 10:47am
Msg #493249

Mr Browne: SPW work is completely transparent

I skipped past the "this will hurt, but in the end it will be good for you" comments, but was struck by is comment that the SPW work is transparent. I am an NNA member currently, and posted the following to his response a few days ago on NNA/Facebook:

Transparency? No. Veil of Secrecy? Yes.


Where does one begin....

* The CFPB failed to hold public hearings on Bulletin 2012-03 as required by the APA; It also failed to assess the impact regulations have on small businesses as required by the SBA. How? By calling the contents of the bulletin "expectations" and not "regulations."( K & L Gates, 5/11/2012)

* Recognized experts on standards development, including the International Organization for Standardization (ISO), the National Institute of Standards and Technology (NIST) and the International Financial Reporting Standards Foundation (IFRS) employ a consensus-based, transparent, and public vetting process affecting ALL stakeholders. The SPW/NNA didn't follow well qualified, and perfected procedures for standards development.

**The SPW/NNA developed the NSA standards behind closed doors and obtained a copyright license on the Code of Conduct in September 2013 BEFORE disclosing them to NSAs at the end of October 2013.

** The SPW and the NNA will not disclose the members of the SPW so as NOT to invite or entertain input from independent, boots-on-the-ground Signing Agents.

** Disclosure of the "thousands of Certified Signing Specialists" and companies that "employ" Specialists whose input was sought is also a complete mystery; no transparency here. Further, our current title is Certified Signing Agents or Notary Signing Agents, there is no one out here who has the title of "Certified Signing Specialists."


Your "stroking" of NSAs talents and experience has just fallen on deaf ears, fortunately, I am familiar with that tactic for dealing with angry constituents. There has been no transparency in this process; only a veil of secrecy all the way up the chain, and we NSAs know it. As JD Walker put it: no trust, no buy-in.

Reply by C. Rivera Chicago Notary Services on 11/19/13 11:36am
Msg #493255

Most excellent response MAC/WA n/m

Reply by BrendaTx on 11/19/13 12:07pm
Msg #493261

Re: Mr Browne: SPW work is completely transparent

Well put, succinct. Good info.

Reply by MAC/WA on 11/19/13 12:18pm
Msg #493267

Re: Mr Browne: SPW work is completely transparent

In response to a couple PMs: YES, by all means, use what I have posted in your letters/emails to SPW and the NNA; also works for letters/emails to your US Senators, Congressional members, CFPB and the Small Business Administration.