California Notary Signing Agent - Serious
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|Posted by Poppy of CA
on 8/25/06 9:42am on
|Good Morning All,
Please consider sending a letter to the commissioner....Thanks, Poppy
Dear California Notary:
I am contacting you today because California Insurance Commissioner John
Garamendi has proposed extensive new regulations that could have a
devastating effect on the thousands of Notaries in California, and
ultimately consumers. The intent of the plan is to force a 27% rollback
in the fees title and escrow services may charge. The Department of
Insurance would then establish a permanent maximum fee schedule for
escrow and sub-escrow services based on a highly complex formula. We
believe this will have a negative impact on Notaries in California.
If the fee reduction is implemented, title and escrow companies predict
they will be forced to lay off a significant portion of their workforce
and eliminate use of many outside contractors, including Notary Signing
Agents. As a result, consumers will lose convenience and security
provided by Notary Signing Agents, while notarization duties would be
delegated to in-house Notaries with substantial workloads.
The National Notary Association is strongly opposed to these
regulations, which will be the subject of an August 30th public hearing
in San Francisco. To view the NNA's letter of opposition to the proposed
regulations, click here.
The NNA needs the help of every California Notary during this critical
hour to write Commissioner Garamendi to request that he withdraw the
Written comments may be submitted by e-mail, fax or regular mail to:
Bryant Henley, Staff Counsel
California Department of Insurance
45 Fremont Street, 21st Floor
San Francisco, CA 94105
Fax: (415) 904-5490
Comments must be received no later than 5 p.m. on August 30. For
instructions and submission suggestions, click here. Please be sure to
copy us on any written comments you submit.
Notaries who reside near San Francisco are encouraged to attend the
public hearing to offer their written or oral comments. The hearing will
commence at: 10 a.m., Department of Insurance's Hearing Room, 45 Fremont
Street, 22nd Floor, San Francisco.
To learn more about the proposed regulations or how you can submit
written comments, please contact the NNA's Notary Best Practices
Manager, William Anderson, at banderson@NationalNotary.org.
Timothy S. Reiniger, Esq.
National Notary Association
Posted by Glenn
Strickler on 8/25/06 1:03pm
Don't just write the commissioner, find out who your
state assembly person and senator is and write them also.
Many borrowors are complaining about the fees they are charged, that is why
the concern in an election year. However, the loan broker fees and loan
originination fee, which make the fees the escrow fees look like pocket change
are not being addressed. Loan compaines and loan brokers are a large lobby in
Sacramento and unless those of us on the bottom are heard from, we will be the
ones to suffer.
I have posted, on several boards, several notes concerning so called "consumer
protection" bills that are being considered and I asked for letters to be
written to your representatives about the subject. My contact in the assembly
says that the notary response has been near zero. I took a lot of email
telling me that I should back off and not rock the boat. Well, people, it is
here and if we don't respond, then our jobs, as we know them, will change and
not for the better.
I an not avocating controlling broker fees. I recently refinanced with no fees
except for the usual recording fees and such and a very low rate. But I have
good credit and can shop around. The consumer is suppose to be savy and be
able to shop the loans for themselves. However, those who have lousy credit
and are high risk pay more and this group is the one that is crying about
having to pay for their past credit performance. I don't feel sorry for them,
but they are the ones making the noise.
Think about the compositon of your letter, keep it short less than a page.
Also, due to volume of email and security concerns about sealed letters, faxes
and post cards (you can get large ones) are read more often and quicker than
email and sealed letters. Also, phone calls can also have an impact. Remeber
to add that our in-home service adds a great convience to the consumer who can
close the loan in their own homes.
OK, California notaries, get off your cans and act or be prepared to do
something else ......... Me, the letters are already sent, the phone calls
made and after EOM, I am fishing and golfing for a couple of weeks ...