Posted by FGX/NJ on 11/6/13 7:10am
Msg #491511
em sent to [e-mail address]
Dear Sir/Maam
A number of large lenders and title companies have set up an organization named above.
The purpose of this group is to set standards for independent mobile Notaries Public who act as "signing specialist" for mortgage loans and refies to meet the CFPB requirements for protecting the borrower(consumer).
You can find these on their web site.
One issue they avoid is their use of middlemen to hire Notaries, which is cost effective for them. These middlemen are referred to as "signing services". They are unregulated and unlicensed by any federal or state agency. They are the weak link in protecting consumer privecy.
The banks and title comoanies are regulated by federal and/or state agencies.
Notaries Public are commission Officers of their state.
Over the years there have even been cases were individals with criminal records have set up as signing services.
Many notaries have been defrauded of their fees. Sometimes they just disappear or file bankrupcy and reappear under amother name. Thes people have access to the borrows confidental information.
This practice shoul be forbidden and the banks and title companies required to deal directly with Commissiond Notaries Public.
Respctively submitted
James H. Lissemore, President
www,Flexo-Notaries Inc
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Reply by Notary On The Go on 11/6/13 9:20am
Msg #491521
I've been calling my State agencies....
North Carolina Commissioner of Banks, the didn't know these signing services existed, Secretary of State Department of Corporations, businesses, including Signing Services need to be licensed in the state they are doing business, Department of Revenue, they want their share of taxes from the Signing Services. Just some more ideas.
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