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Posted by  John/CT on 9/17/19 5:39pm
In less than two weeks from now, the hammer will fall on over 300 Connecticut Signing Agents when our state joins the ranks of so-called “attorney only” states. The problem is, the legislation does not provide for NSA’s to work under the supervision of an attorney while they await a call in their office from the borrowers with a legal question. Just about never happens because most likely the borrowers’ questions relate to loan specifics that only the lender representative can answer.
So, except for a handful of $35 HELOC’s, a smattering of out-of-state properties, and GNW here and there, we will essentially be put out-of-business when SB-320 is implemented on October 1. My loss of income will be substantial … a huge hit against my fixed retirement income. For others who depend on NSA income on a full-time basis it will be catastrophic as they will become unemployed … and for all practical purpose: unemployable.
Connecticut NSA’s, you can still do something about it: Contact your House and Senate Representatives. Tell them the impact this legislation has on you, and ask them to sponsor/co-sponsor an amendment to SB-320 to allow us to continue working “business as usual” under the supervision of an attorney.
To help you facilitate this, I have a list of the members of the Connecticut General Assembly who voted on SB-320. (I’m astonished that 161 voted “Yes” out of a total of 180, with only 19 voting “No”.) I also have a draft of the emails I sent to my Representative and Senator. Please email me if you’d like copies: seals-on-wheels@cox.net.
BTW, where was XYZ during this whole episode? Nowhere … just a recent blurb announcing the implementation of SB-320. Certainly gives a reason why I will not reinstate my long-ago canceled membership.
Lesson to be learned by others in “non-attorney only” states: Keep a watchful eye on what’s going on in your State. You can never know when your state’s bar association will sneak up and propose legislation that will take away your NSA business.
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