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Msg #641064

27 replies
I thought I was going to drive my car off the road this
By grapebed on 6/26/22 10:52am

morning coming back from church. I was listening to NPR station KWMU 90.7 Public Radio in St. Louis. The program was sponsored by, hold on to your seats, a local mobile notary. I checked out the sponsors web site.

Right smack near the top of her website, she has the clip of her NPR commercial.

I don’t have a clue the cost of the commercial, but she can have the radio clip on her web site as a “proud sponsor” of Public Radio forever. Is this a brilliant marketing idea? Please let me know your thoughts.

PTL, my car is safely parked in my garage. No accidents. PTl.


Msg #641058

4 replies
If the largest online/refi lender in the USA, says that
By grapebed on 6/25/22 5:51pm

there are 8 times the number of notaries in their data base than necessary to service their current business ( and july/August are expected to be much slower), I am not going to argue with them. I totally believe it. I am not going to over analyze or become a mortgage economist looking through rose colored glasses for silver linings.

When I first joined NR, there were posters just as acerbic ( i am worse) as me issuing dark warnings. I wish I had listened. I thought I was different. This was only supposed to be a 6-month gig. Yes, i ended my loan siging biz 5 years ago ( except for one T/C). Had I picked any other idustry in the United States 7 years ago, my income. investments, net worth 401(k), salary, bonus, etc would be much larger today.

Oh well. I am off to see the ELVIS movie." I ain't nothin but a hound dog"

Msg #641049

6 replies
Flagstar Bank breach
By  Yoli/CA on 6/25/22 2:32pm

http://www.msn.com/en-us/money/personalfinance/bank-data-breach-exposes-15-million-social-security-numbers/ar-AAYQVwp?ocid=hplocalnews&li=BBnb7Kz

Hack occurred December 2021. Flagstar didn't discover the breach until June 2, 2022.

Wow!


Msg #641044

1 replies
Answered question wrong
By Yaima Hutchinson on 6/24/22 9:11pm

Hello all! When setting up my profile this evening I messed up and answered the are you a loan signing agent questions incorrectly. I can't find anywhere on my profile how to change that. Any suggestions? Thank you

Msg #641032

17 replies
There is an upside to rising interest rates for some.
By Mills Mobile Notary Service on 6/24/22 1:22pm

Just signed a nice older couple to a adjustable rate Reverse Mortgage. They were smart cookies, more income for them now and more in the future as rates go up.

Also doing more HELOCs since everyone now has lots of equity, even if the interest rate is higher.

Msg #641031

2 replies
Fintechs bubble is bursting ...
By  Yoli/CA on 6/24/22 10:52am

http://www.businessinsider.com/fintechs-layoffs-job-cuts-tech-bubble-bursts-robinhood-2022-5

Msg #641024

5 replies
Virtual personal knowledge?
By VT_Syrup on 6/24/22 4:46am

Something caught my eye in Msg #641016 by BrendaTx. In the context of RON, she wrote "If they have a VIP, I can see that person again and again so that they do not have to go through the ID process multiple times."

That makes me wonder, once RON and electronic notarization go into effect in my state, can I rely on personal knowledge to notarize for someone who I never met in person, but have had extensive audio-video interactions with?

The law in my state says

"§ 5365. Identification of individual

"(a) Personal knowledge. A notary public has personal knowledge of the identity of an individual appearing before the officer if the individual is personally known to the officer through dealings sufficient to provide reasonable certainty that the individual has the identity claimed."

So lets say Jane Doe is a fellow Red Cross volunteer from Maine. She's in the online Red Cross directory, including her picture. I can see that she has passed a criminal background check, and I've been in virtual meetings with her and people I've met in person who have met her in person were calling her Jane Doe. I've participated in video calls with disaster victims with her, and know that she was able to dispense Red Cross funds to the victims. Is that "dealings sufficient to provide reasonable certainty that the individual has the identity claimed"? I'm leaning toward yes, this would be OK.

Msg #641005

13 replies
From E-Notarylog.com
By Negrete on 6/23/22 12:32pm

Is KBA secure, or more secure than an in-person notarization?

Yes.

Why is identity verification more secure in a remote online notarization (RON) than in a traditional in-person notarization?

The online notarization process enables a greater level of trust in verifying a signer’s identity because of the ability to leverage third-party identity service providers in real-time via communication technology.

In the paper world, the notary has no real-time access to third-party databases to validate a state driver’s license or national passport. Experience has shown that notaries can’t keep current on the evolving methods of counterfeiting, altering, or otherwise faking physical driver’s licenses.

The identification requirements and analysis vastly improve the paper notary process. RON has increased compliance and confirmation as well as recordation of the compliance. The remote notary process also requires signers and RON platforms to audio and video record the entire process. The platform stores the remote online notarial act recording for 10 years. This means there is a visual record in a digital vault of both forms of identification. These steps provide additional protection for all involved.

It is mandatory to record all sessions related to remote online notarization. Also, this audio-visual component ensures a higher level of identity assurance.

These third-party services, depending on the state, may include a combination of:
Credential analysis of government-issued identity credentials
Knowledge-based authentication (KBA)
Biometric comparison
Digital certificate verification from a trusted certificate authority
Knowledge-based authentication is widely used in multi-factor authentication.
KBA is a method of authentication that proves the identity of someone accessing a service such as a website or remote online notarization platform. KBA requires the knowledge of an individual’s information to prove their identity. eNotaryLog’s platform asks questions related to previous home addresses or vehicles owned for identity verification.

A good KBA question should meet these four criteria:
The question is appropriate for a large segment of the population
The answer is easily remembered
The question should have one correct answer
The answer should not be easy enough to guess through research
KBA questions can be static or dynamic.
Static questions allow the client to select the questions they would like to answer. Data stored by the platform to verify a person’s identity determines the question-and-answer pairs for static questions. The questions can be factual, like “Where were you born?” or “How many siblings do you have?” They can also be about the person’s preferences, such as “What is your favorite color?” or “Who is your best friend?” Static questions aren’t the best KBA identifiers. Their data is easily accessible. Moreover, the answers could be guessed.

When the client is unaware of what questions will be asked, questions are dynamic. Data in public records determines the question-and-answer pairs. These questions may be similar to: “What was your address when you were 15 years old?” or “What color Toyota Tacoma was registered to you in Pennsylvania in 2021?”

For increased security and authentication, the eNotaryLog platform uses dynamic KBA questions. Someone can research KBA questions, but it takes time and effort. The signer gets a time limit to answer the questions provided. If the dynamic questions aren’t answered in time, they are treated as incorrect, and the signer has the opportunity to try again with a fresh set of questions.

eNotaryLog uses a third-party service to analyze a signer’s government-issued identity credentials.
These forms of identification include valid driver’s licenses, state identification cards, or passports. However, they are invalid if they expired. Also, clients submit a front and back photo of their government identification in advance of their RON transaction with eNotaryLog. Also, the signer shows the same identification to the notary via their computer’s camera. It confirms the signer matches the ID and is the correct signer.

A notary can overlook expiration dates and it is difficult to determine if the ID is fraudulent during the paper notarial process. However, credential analysis and KBA eliminates these issues.

To store and transmit your data securely, eNotaryLog provides industry-leading security and privacy policies.

To start the journey to a secure digital future, go to the eNotaryLog platform and click on Notarize Now or Start Your Notarization. It takes you to our notarization page where you begin the notarization process with a live notary. It is as simple as getting verified, uploading your documents, and beginning the process. Go to eNotaryLog today to simplify life’s important moments and save time to make more memories!

Msg #640993

1 replies
Jupiter Asset Recovery
By susanp2020 on 6/23/22 9:36am

Has anyone worked for them? Have you had a positive experience? Prompt payment?

Msg #640992

0 replies
Is anyone looking for LT-5400 Brother Extra Tray?
By Eugenie Pence on 6/23/22 9:29am

I have one for sale. Compatible with HL-5450DN, 5470DW, HL6180DW, MFC-8710DW, MFC-8950DW, CCP8150DN, DCP8155DN. Gently used. Upgraded Printer. Asking $99 plus shipping.

Msg #640991

1 replies
Notary Work at International Airports in California
By Margeurite Gutierrez on 6/23/22 9:26am

Hello One and All:

I am considering expanding my notary business to include on-site calls to international airports in California.

What is an appropriate fee for said work? I don’t want to overcharge, of course, and I don’t want to under charge.

Any advice would be greatly appreciated thank you all in advance.

Msg #640989

2 replies
JP Morgan Chase
By Victoria L. Rivera on 6/23/22 9:01am

https://www.marketwatch.com/story/jpmorgan-cutting-workers-as-mortgage-business-slows-down-report-2022-06-23

The moves will affect a total of 1,000 workers, half of whom will be reassigned, according to the Wednesday report.

Msg #640987

9 replies
IPEN Closing
By Negrete on 6/23/22 8:19am

Does anyone have any opinions on these kind of closings?
A client of mine has asked if I would have notaries to do these, and I am not sure if notaries will invest in this technology or not.

This is not advetising, just question of interest.



Msg #640977

9 replies
Mortgage Applications Are Back Up
By Victoria L. Rivera on 6/22/22 8:34pm




https://www.mpamag.com/us/mortgage-industry/market-updates/mortgage-applications-up-amid-rising-rates/410516?Region=United+States

Msg #640976

6 replies
I passed that ridiculous NNA Certification Exam. My favorite
By grapebed on 6/22/22 7:02pm

question from last year is still on the exam;

"If during the appointment the borrower secretly divulges that the property being financed is an investment property, while the loan documents indicate it is for a primary residence, the Notary Signing Agent should:

1. Leave the room immediately and contact law enforcement
2.Immediately halt the signing and return the documents to the lender
3.Complete signing and inform the closing agent afterwards

Personally, I would call the FBI.

Msg #640940

20 replies
Hearing Canceled: AB 1093 - Remote Online Notarization Act
By Matt Miller on 6/21/22 2:51pm

We are very disappointed to report that the author of AB 1093, the Remote Online Notarization Act, has decided to pull the bill. Which means that the Senate Judiciary Committee hearing scheduled for June 28th on AB 1093, has been canceled and the bill is now dead.

We are currently doing our best to gather intelligence as to why the author's office pulled the bill and will report our findings in the coming weeks.

AB 1093 would not have made it even this far without the actions and support of so many of you, the support letters, the phone calls, the endorsements. We are very grateful for your support and we will dust off this bill and give it a another try next year.

If you have any questions or comments, please send an email to info@calnotaries.org and let us know how we can help.

Msg #640920

17 replies
Average selling price of a house hits $507,000 in Q2
By grapebed on 6/21/22 10:45am

http://fred.stlouisfed.org/series/ASPUS

Real estate agents and mortgage brokers participate in the rise in prices. Their commissions are higher.
Notaries incomes have crashed. New notaries wake up and smell the coffee. How can you possibly survive in this type of economic environment? Don't waste your money on "notary boot camps" and "notary educational courses or videos".

Why would any rational person want to "learn" about a side gig that will likely lose money or be marginally profitable? Personally, I don't want to be "educated" on how to lose money.

There are more notary educational courses out there than courses for medical students who want to be neurosurgeons. What's going on?




Msg #640905

34 replies
Quitclaim Deed AKA
By Carla Torrelli on 6/21/22 8:27am

Just trying to confirm my thinking on this.

I have a refi cash out with a signer who's name is Mary L. Jones on all docs except the quitclaim. ID is Mary L. Jones. However, the quitclaim included has "Mary I. Jones AKA Mary L. Jones" for the signature line and pre-printed notarial cert. She can sign it as they request but I will either attach a loose cert for Mary L. Jones or I can line out and initial the Mary I. Jones AKA, correct?

I'm assuming that the initial title was a typo and they are trying to correct this.

As always, THANK YOU ALL!

Msg #640874

6 replies
More layoffs in mortgage lending, real estate firms and TC
By grapebed on 6/20/22 1:04pm

Mortgage lending layoffs. tens of thousands of have lost jobs

http://www.thetruthaboutmortgage.com/a-list-of-recent-mortgage-closures-mergers-and-layoffs/

Real Estate Brokerage Layoffs

http://techcrunch.com/2022/06/14/redfin-and-compass-lay-off-a-combined-900-employees-as-mortgage-interest-rates-continue-to-climb/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAI_PfjJaYU3z120Y02jB6_vBOIBvqIQB8og6HAFjZJCSbGoqxu1HDbZ2bTMGuSyzPtTpQOswPvc_VlDCiAiQ08t8Tm8gF32EFdw8Lh_pE3BzwefP_nf7JdNv6jcYsJOEljFXfGvwy-XS-o_pE27zhavFgZW09bfCVijbUNMg452m

One of the largest title companies in Missouri just blew out 250 workers. It really hurts. I wish them all the very best of luck. At least they will get severance, job coaching, sick/vacation pay and they have substantial savings in 401(k)'s.

The mortgage loan officers have banked big buck the past three years, but they may have to turn back the leases on their Porsches.


Msg #640860

30 replies
Just got this from Signing Services of America
By Clem/CA on 6/20/22 10:43am

NSA’s,
This email has been sent to ALL NSA’s that have worked for SSA in May. A Texas notary fraudulently notarized a Texas A-6 loan, (research what is a Texas-A6). He stated the loan signed in a title company, when our client checked into this, they reported that the loan did not sign in a title company. This has caused major issues with our client, the lender, and the homeowner. As a result, the company has stopped using our services. So, we will not be able to send as much work to our notaries because of the decision this notary made.

One bad notary has made it worse for hundreds of other people. This is not the time nor the way to lose business!!


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