| Urgent message for California Notaries.. Please Read |
| Posted by Poppy of CA on 8/25/06 9:42am on http://www.NOTARYROTARY.COM |
| Msg #140864 |
| 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 proposed regulations. 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 Email: henleyb@insurance.ca.gov 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. Sincerely, Timothy S. Reiniger, Esq. Executive Director 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 ...