|I recall reading years back when MN came up with this requirement as a result of title companies suddenly realizing that everyday notaries were doing loan signings and flipped out cos they wanted all the business. Something like that. Hopefully, Pegi could explain cos it was all pretty interesting. At the time, I went online and saw it was a bundle of money notaries had to pay (yearly) to be permitted to notarize real-estate stuff. Not to mention class/test time , but not exactly sure about those details. I think a number of MN notaries just dropped out of the loan-signing business when they didn't want to go through all that hoopla as SSs were asking for proof of this license. |
In fact, I now recall suggesting notaries push for this requirement in their states to thin the herd!