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How to Measure Investment Turnover Ratio
Mobile Notary Public
California Notary Public Signing Agent
Starter Real Estate Investments
Ten E-mail Habits that Send Wrong Message

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Refinance Affidavit and Deed Errors Prevalent
How to Negotiate Real Estate
What is a Power of Attorney?
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How to Measure Investment Turnover Ratio

An investment turnover ratio measures how actively a fund is managed. A high turnover ratio means the manager is buying and selling stocks on a regular basis, while a low turnover means the fund holds its investments for a longer period of time. Though a high investment turnover ratio might make you feel like your manager is more involved, it's not always the best investment strategy because of the cost of each trade. According to Morningstar, managers with higher turnover rates usually have more aggressive investing strategies.

Divide the total sales by the investment fund's assets during a particular period. For example, if the mutual fund has $1 million in stock sales during the quarter and $5 million in assets, divide $1 million by $5 million to get 0.2.
Multiply the result by the number of periods per year. In this example, since there are four quarters per year, multiply 0.2 by 4 to get 0.8.
Substitute the result for "x" in the following ratio: "x to 1." In this example, substitute 8 for "x" to get an investment turnover ratio of 0.8 to 1. This means that over one year, each dollar of assets will get sold 0.8 times.

Mobile Notary Public

Mobile Notary
Phonetics: mo-bile no-ta-ry
Function: noun
Definition 1
A mobile notary is a notary who is accustomed and willing to travel to the signer's location. Mobile notaries often visit offices, houses, hospitals, courts, and jails. Mobile notaries usually charge a travel fee which is not governed by state law in most states.

California Notary Public Signing Agent

Notary Signing Agent
Phonetics: no-ta-ry sign-ing a-gent
Function: noun

Before the 1990's, Notary Signing Agents were virtually unknown. Borrowers were expected to travel to the office of a lender, escrow agent or title firm to complete a loan. However, during the past decade, increasing competition in the lending market, a massive volume of refinancing and home-equity loans and demand for faster, more customer-friendly services changed how loan transactions are conducted. Lenders now strive to make transactions as simple as possible and reduce a borrower's travel time during the work week. Therefore, the Mobile Notary came into existence. Another motivating factor for the lenders is that the Notary can eliminate the necessity for the borrower to take up the lender's time during the signing, hence freeing up the lender's schedule for focusing more on creating more loans. A Notary Signing Agent can point out which page certain pieces of information are on. However, the Notary Signing Agent or "Signer" can not explain the terms of the loan or explain documents since that could be considered giving legal advice which is not legal unless you are an attorney of law. A Notary Signing Agent is not a real agent as they are almost always an independent contractor who is self-employed. It is prudent to inform the borrowers that you work for yourself and have no involvement with the lender outside of assisting signing the documents.

Starter Real Estate Investments

In realestate, there are two kinds of buyers.The first group is made up of investors, or people who buy properties with the intention of either leasing them out to generate income and a return, as well as those who buy, fix, and flip to other buyers. The other group is made up of people who are simply looking for a place to live or do business. They buy a property and use it, and this group makes up the vast majority of the market. For instance, in the home market, the one place where the average American will likely invest in property, nearly half of all real estate buyers are buying their first home during any given year, according to Zillow.Part of this is due to the fact that real estate investing, particularly on the commercial side, has traditionally been reserved for high-net-worth individuals, institutional investors and others with the wherewithal — connections, financing means and know-how — to get involved. It was an asset class that everyday retail investors simply did not have access to and weren’t able to leverage, except indirectly through publicly traded real estate investment trusts.But that has started to change. Thanks to technology and new regulation around crowdfunding, investors can now invest directly in commercial real estate deals, cutting out the middleman, and even with a small investment diversify their portfolio across a number of different assets. What used to require a portfolio worth tens of millions of dollars can now be accomplished with a few thousand at a time.

Crowdfunding platforms such as Fundrise, RealCrowd, Crowdstreet and others are proliferating, allowing accredited individual investors to get into large, high-return commercial real estate transactions with investments as small as $500.That looks to me, as an industry insider, like a real seachange.If you look at most wealth that's been built over the centuries, both in America and globally, real estate is usually a big component of that. Some think of it as a fourth asset class after bonds, stocks and cash. Commercial real estate constitutes 13 percent of GDP, and in recent years was elevated by S&P 

Dow Jones indices from being a subsector of “financials” to its own place as one of 11 industries in its global classifications.Given the position of commercial real estate in the economy, it has always felt strange to me that the average investor cannot access these investments. Even amid changing technologies, new industries and new innovations, there is nothing like owning a physical asset and having a piece of an apartment building or industrial building that can generate income for you.I’ve tested out the concept of these crowdfunded platforms to raise an investment, and it does seem to work. (I have no personal or firm investment in the platforms themselves). Our firm put a deal out on one of the larger commercial real estate crowdfunding platforms to fund an asset we are buying in Phoenix, Arizona. Over the course of about two weeks, nearly $1.5 million came in from smaller investors on that platform. It allowed them entry to a deal they would never before been able to access via small investments. It worked for us because it allowed us to access investors and capital that we never would have been able to reach before.In 20 years in commercial real estate, for me it has always been about building personal, individual relationships with each of our investors. Now we can put a deal out on a crowdfunding platform and create a whole host of new relationships, with diverse investors, on a national basis almost overnight.It’s a democratization of commercial real estate, but it does carry with it some substantial risks. These services are being marketed to individual investors directly and through partnerships with personal finance portals. You may find these platforms being pitched to you in email or in your social media feed. 

But real estate investment isn’t like investing in stocks, bonds and mutual funds. These are illiquid assets that can be difficult to value, so crowdfunding investors who are new to the commercial real estate space would do well to follow some best practices that those of us in the industry have been following for decades.

1. Do your research: Always do your homework and look at each of the deals available to you in-depth. Is it the right fit for your personal investment philosophy? How does it fit within your overall investment portfolio? Real estate investing is like any other investment that has risk associated with it, so diversification is key. Don’t bet it all on one horse, and focus on deals that make good common sense.

2. Understand what you’re buying: A real estate investment isn’t a share of stock. It is a physical asset that can’t be solely summarized in numbers on a chart. Is that apartment or office building located in a desirable area? Is it in a growing city? Are local renters increasingly moving to another part of town, driving down rents where you are looking to invest? People will always need to sleep in a bed and have a physical location where they live, but what makes one particular apartment building more desirable than another? Don’t overlook those details when investing. And remember, this kind of investing does not have the liquidity of a stock. You may need to stay in for a while.

3. Think big: For us as real estate investors, everything comes down to job growth and a positive outlook for the future. For that reason, it pays to look beyond one single asset when considering investments. Think about industrial space as an example. Regardless of where technology is going, we will always need physical places to put goods that can be shipped out and delivered to people on a local level. Even if the products are coming in globally, they have to be brought into the country, broken down into their component parts and shipped around to customers. So industrial real estate has good strong fundamentals just because of that. It’s the same with demographics. For instance, Baby Boomers are now starting to move into senior care facilities in greater numbers as they age, meaning there is a greater need for more senior care space.You don’t have to go too far out on the risk curve to do well in commercial real estate. Yes, there is always a chance that the market could go down, and can even go way down and stay there for years. But at the end of the day, real estate investors still always have a physical asset that they own.If you are willing to take the time to learn the game, it could be one more tool in your investor toolbox.

Ten E-mail Habits that Send Wrong Message


One day last fall, my colleague Miguel Morales received an email with a sign-off that was so strange, it has stuck in his mind for the last year. It came from Melissa Geisler, who works in digital sports programming and production at Yahoo. Below Geisler’s title and above her cell phone number was this mystifying quote: “The Bird is equal to or greater than the Word,” attributed to someone named, simply, “scientist.”With this and other strange sign-offs in mind, Miguel suggested I tackle the subject of how best to conclude an email. I polled colleagues, friends and four people I’d consider experts, including Cynthia Lett, 55, a business etiquette consultant in Silver Spring, MD. Below is their combined wisdom and some commentary of my own. I offer four rules and a long list of potential sign-offs.But first, Geisler’s quote. She says it came from an episode of the animated cable TV show Family Guy, about a song from the 1960s. “That was me trying to have a little fun,” she says, adding that she has since changed her signature to add Yahoo’s new logo, and abandoning the quote, which she hoped recipients enjoyed while it lasted. Much as I respect Geisler’s attempt at levity, I think it’s a mistake to leave people guessing about what you want to say.Here are my four rules for signing off on emails:1.  Don’t include quotes.2. Avoid oversized corporate logos. Sometimes we have no choice about this, because our companies insist we include these things, but if they are too big, they draw the eye away from the message.  3. Include your title and contact info, but keep it short. In most business emails, you’re doing the person a favor by sharing your vital information. But make it minimal. Mine just says, “Susan Adams, Senior Editor, Forbes  212-206-5571.”  A short link to your website is fine but avoid a laundry list of links promoting your projects and publications.4. Do include some kind of sign-off. Mark Hurst, 40, author of Bit Literacy: Productivity in the Age of Information and E-mail Overload, says the function of a sign-off is to signal the end of a message, so the recipient knows it didn’t get short-circuited. “To me the sign-off is not so much style as function in the service of clearly communicating your message,” he says.  Etiquette consultant Lett advocates a more formal approach. “I don’t believe emails are conversations,” she says. “They’re letters.” I disagree. Emails are their own form of communication and they’re evolving fast. Farhad Manjoo, 35, Wall Street Journal technology columnist and until recently, the voice behind a Slate podcast, “Manners for the Digital Age,” puts it well: “An email is both a letter and an instant message,” he observes.  All of that said, here is a list of common and not-so-common email sign-offs, with commentary and notes from the experts.

Best – This is the most ubiquitous; it’s totally safe. I recommend it highly and so do the experts.

My Best – A little stilted. Etiquette consultant Lett likes it.

My best to you – Lett also likes this one. I think it’s old-fashioned.

All Best – Harmless.

All the best – This works too.

Best Wishes –Seems too much like a greeting card but it’s not bad.

Bests – I know people who like this but I find it fussy. Why do you need the extra “s?”

Best Regards – More formal than the ubiquitous “Best.” I use this when I want a note of formality.

Regards – Fine, anodyne, helpfully brief. I use this.

Rgds – I used to use this but stopped, because it’s trying too hard to be abbreviated. Why not type three more letters? OK if you’re sending it from your phone.

Warm Regards – I like this for a personal email to someone you don’t know very well, or a business email that is meant as a thank-you.

Warmest Regards – As good as Warm Regards, with a touch of added heat.

Warmest – I use this often for personal emails, especially if I’m close to someone but not in regular touch.

Warmly – This is a nice riff on the “warm” theme that can safely be used among colleagues.

Take care – In the right instances, especially for personal emails, this works.

Thanks - Lett says this is a no-no. “This is not a closing. It’s a thank-you,” she insists. I disagree. Forbes Leadership editor Fred Allen uses it regularly and I think it’s an appropriate, warm thing to say. I use it too.

Thanks so much – I also like this and use it, especially when someone—a colleague, a source, someone with whom I have a business relationship—has put time and effort into a task or email.

Thanks! – This rubs me the wrong way because I used to have a boss who ended every email this way. She was usually asking me to perform a task and it made her sign-off seem more like a stern order, with a forced note of appreciation, than a genuine expression of gratitude. But in the right context, it can be fine.

Thank you – More formal than “Thanks.” I use this sometimes.

Thank you! – This doesn’t have the same grating quality as “Thanks!” The added “you” softens it.

Many thanks – I use this a lot, when I genuinely appreciate the effort the recipient has undertaken.

Thanks for your consideration – A tad stilted with a note of servility, this can work in the business context, though it’s almost asking for a rejection. Steer clear of this when writing a note related to seeking employment.

Thx – I predict this will gain in popularity as our emails become more like texts. Lett would not approve.
Hope this helps – I like this in an email where you are trying to help the recipient.

Looking forward – I use this too. I think it’s gracious and warm, and shows you are eager to meet with the recipient.

Rushing – This works when you really are rushing. It expresses humility and regard for the recipient.In haste – Also good when you don’t have time to proofread.

Be well – Some people find this grating. Not appropriate for a business email.

Peace – Retro, this sign-off wears its politics on its sleeve. It doesn’t bother me but others might 
.
Yours Truly – I don’t like this. It makes me feel like I’m ten years old and getting a note from a pen pal in Sweden.

Yours – Same problem as above.

Very Truly Yours – Lett likes this for business emails but I find it stilted and it has the pen pal problem.

Sincerely – Lett also likes this but to me, it signals that the writer is stuck in the past. Maybe OK for some formal business correspondence, like from the lawyer handling your dead mother’s estate.

Sincerely Yours – Same problem as “Sincerely,” but hokier. Lett likes this for business correspondence. I don’t.

Cheers! – I wonder how prevalent this is in the UK. I’ve only seen it from Americans who are trying for a British affectation. I know it shouldn’t grate on me but it does. I also don’t like people telling me to cheer up.

Ciao – Pretentious for an English-speaker, though I can see using it in a personal, playful email.

Your name – Terse but just fine in many circumstances. Probably not a good idea for an initial email.

Initial – Good if you know the recipient and even fine in a business context if it’s someone with whom you correspond frequently.

Love – This seems too informal, like over-sharing in the business context, but Farhad Manjoo points out that for some people, hugging is common, even at business meetings. For them, this sign-off may work.

XOXO – I’ve heard of this being used in business emails but I don’t think it’s a good idea.

Lots of love – I would only use this in a personal email. The “lots of” makes it even more inappropriately effusive than the simple, clean “Love.”

Hugs – It’s hard to imagine this in a business email but it’s great when you’re writing to your granny.

Smiley face - Emoticons are increasingly accepted, though some people find them grating. I wouldn’t sign off this way unless I were writing to my kid.;-) – I’ve gotten emails from colleagues with these symbols and I find they brighten my day.[:-) – I’m a sucker for variations on the smiley face made with punctuation marks, though I suspect most people don’t like them.

High five from down low – A colleague shared this awful sign-off which is regularly used by a publicist who handles tech clients. An attempt to sound cool, which fails.

Take it easy bro – Richie Frieman, 34, author of the new book Reply All…And Other Ways to Tank Your Career, says he regularly gets this from a web designer in Santa Cruz, CA. Though it might turn some people off, I would be fine receiving an email with this sign-off, knowing the sender lives in an informal milieu.

See you around – Lett would cringe but this seems fine to me.Have a wonderful bountiful lustful day – Tim Ferguson, editor of Forbes Asia, regularly gets this sign-off from Joan Koh, a travel writer in southeast Asia. It’s weird and off-putting.

Sent from my iPhone – This may be the most ubiquitous sign-off. It used to bother me but I realize that it explains brevity and typos. I’ve erased it from my iPhone signature because I don’t like to freight my emails with extra words, and in many instances I don’t want the recipient to know I’m not at my desk. But maybe I should restore it. The same goes for automated message on other devices.

Typos courtesy of my iPhone – Slightly clever but it’s gotten old. Better to use the automated message.

Sent from a prehistoric stone tablet – I laughed the first time I read it but then the joke wore thin.

Pardon my monkey thumbs – Same problem here.

Please consider the environment before printing this e-mail. – A preachy relic of the past. Who doesn’t know that printing uses paper?

vCards – I think these are a great idea. At least they work well on my Dell desktop when I want to load a contact into Outlook.

This email is off the record unless otherwise indicated – My colleague Jeff Bercovici, who covers media, says he gets this email from friends who are inviting him to birthday parties or other engagements and he finds it extremely annoying. I’m wondering what kind of paranoid people put this in their signatures.
Lengthy disclaimers – We’ve all seen these and ignored them, though I understand that many companies require them. Forbes’ in-house legal counsel, Kai Falkenberg, says she knows of no cases that have relied on legal disclaimers, though she says they might serve as persuasive evidence in a trade secrets case where a party was attempting to keep information confidential.

What do you think of my list? 

What weird, funny, offensive or elegant sign-offs have I missed?

How to Negotiate Real Estate

6 Simple Tricks for Winning a Negotiation Stalemate
By Laura Agadoni | February 18, 2015

If you and the potential buyer are at a stalemate regarding price, get creative and start thinking out-of-the-box for a solution.

Learn how you can not only play the negotiation game, but also win.

When my husband and I were buying our first house in Georgia, I cringed at the tough negotiating he was doing, as did our agent. “You sound like a fast-talking big city businessman,” she said to him in her smooth drawl.

But as cringe-worthy as it seemed at the time, he was just engaging in some tried-and-true horse-trading — trying to make a deal that both sides could feel good about.

You might be the type of person I was, the kind who never questions the price of an item. (I didn’t exactly shine at garage sales.) But once you learn how to handle negotiation encounters, you can prosper.

When selling your home, your first reaction might be a big “oh heck no” when you get a low offer on your asking price, but take a deep breath and at least consider your options.

Here are six tips for not only playing the negotiation game, but also winning.

1. Price it right

There’s a difference between the price you want to get (or what you think the house is worth) and what the market will bear.

“Pricing is not based on how much a seller needs to net,” says Brian Horan, a Los Angeles real estate broker. “Sellers always seem to need a certain amount, but that has nothing to do with the price of tea in China.”

Look at neighborhood comps to give you a more realistic idea. Find a savvy real estate agent; she should be able to provide a benchmark for asking prices that reflect market valuations.

2. Consider the first offer

Chris Leavitt, star of Million Dollar Listing: Miami, says, “Really pay attention to your first offer because that will probably be your best one.”

Leavitt, who once sold a Miami Beach condo for $34 million, the highest condo sale in Florida history, knows a little something about negotiations.

“Your best offers usually come at the beginning, so it would be a mistake to not listen to those offers, regardless of what they are,” he says, adding that sellers “shouldn’t be insulted because that offer might actually be the right price, the market price.”

3. Think like a salesperson

Patrick Malone, senior partner at The PAR Group, says, “All home sellers should establish their BATNA before listing their house for sale.”

No, he didn’t say you need to become Batman. “BATNA” stands for “best alternative to a negotiated agreement.” This is a negotiator’s fallback option in case there’s no deal.

Having a BATNA puts you in a stronger negotiation position. Maybe you’ve decided that if you don’t get your bottom line, you’ll rent the place and try again later, or maybe you’ll renovate and stay.

Keeping your BATNA in the back of your mind can help prevent you from agreeing to a bad deal out of desperation.

4. Don’t get emotional

It’s probably best not to listen to Miranda Lambert’s “The House That Built Me” before you enter negotiations with a potential buyer.

Garratt Hasenstab, managing broker with the Verdigris Group, says you need to stay levelheaded throughout.

“This is business, simple as that. There is no call for emotion. Rational thinking, business skill, and negotiation skill are what it’s all about.”

Hasenstab also recommends your real estate agent find out the buyer’s prequalification amount from the bank or what the buyer’s desired purchase price is. The more information you have about a buyer’s financial situation and needs, the better you can bargain.

5. Be realistic

Being stubborn is usually not the best strategy in any negotiation. If your goal is to sell, taking less than your ideal price is better than not selling at all.

Glenn S. Phillips of Lake Homes Realty says, “Sellers must account for the real cost of not selling — not just a monthly mortgage payment — but utilities, insurance, maintenance, yardwork, and risk of vandalism or theft.”

Once you know the total cost of keeping your home on the market each month, it might put offers, even the lower ones, in better perspective.

6. Embrace creativity

If you and the potential buyer are at a stalemate regarding price, it might be time to entertain some out-of-the-box ideas. Chris Leavitt suggests you offer to throw in the furniture.

Glenn Phillips asked for some extras when buying his first home: the riding lawn mower, the window treatments — and even the dog.

And it paid off: “Mikey the Mortgage Dog has been one of the best dogs ever.”


What is a Power of Attorney?

What is a Power of Attorney?
by Beverly Rice  Dec 2009

Do any of the following people need to sign a power of attorney?
  • Mr. Jones lives alone, has no close family, and is scheduled for major surgery in a few weeks.
  • Ms. Smith has been diagnosed with Lou Gehrig's disease.
  • Mr. and Mrs. Adams will be out of the country for the next 6 months but have a house they need to sell.
  • Ms. Davis is single, runs a successful business, and has no medical or economic concerns.

The answer is yes. They all do. A power of attorney (POA) is a document that allows you to appoint a person or organization to manage your affairs if you become unable to do so. However, all POAs are not created equal. Each type gives your attorney-in-fact (the person who will be making decisions on your behalf) a different level of control.


General Power of Attorney
A general power of attorney gives broad powers to a person or organization (known as an agent or attorney-in-fact) to act in your behalf. These powers include handling financial and business transactions, buying life insurance, settling claims, operating business interests, making gifts, and employing professional help. General power of attorney is an effective tool if you will be out of the country and need someone to handle certain matters, or when you are physically or mentally incapable of managing your affairs. A general power of attorney is often included in an estate plan to make sure someone can handle financial matters.

Special Power of Attorney
You can specify exactly what powers an agent may exercise by signing a special power of attorney. This is often used when one cannot handle certain affairs due to other commitments or health reasons. Selling property (personal and real), managing real estate, collecting debts, and handling business transactions are some of the common matters specified in a special power of attorney document.

Health Care Power of Attorney
A health care power of attorney grants your agent authority to make medical decisions for you if you are unconscious, mentally incompetent, or otherwise unable to make decisions on your own. While not the same thing as a living will, many states allow you to include your preference about being kept on life support. Some states will allow you to combine parts of the health care POA and living will into an advanced health care directive.

Durable Power of Attorney 
Suppose you become mentally incompetent due to illness or accident while you have a power of attorney in effect. Will the document remain valid? To safeguard against any problems, you can sign a durable power of attorney. This is simply a general, special, or health care POA that has a durability provision to keep the current power of attorney in effect. 

You might also sign a durable power of attorney to prepare for the possibility that you may become mentally incompetent due to illness or injury. Specify in the power of attorney that it cannot go into effect until a doctor certifies you as mentally incompetent. You may name a specific doctor who you wish to determine your competency, or require that two licensed physicians agree on your mental state.

Looking for Mr. Good Agent
Trust is a key factor when choosing an agent for your power of attorney. Whether the agent selected is a friend, relative, organization, or attorney, you need someone who will look out for your best interests, respect your wishes, and won't abuse the powers granted to him or her.It is important for an agent to keep accurate records of all transactions done on your behalf and to provide you with periodic updates to keep you informed. If you are unable to review updates yourself, direct your agent to give an account to a third party.As for legal liability, an agent is held responsible only for intentional misconduct, not for unknowingly doing something wrong. This protection is included in power of attorney documents to encourage people to accept agent responsibilities. Agents are not customarily compensated; most do it for free.Should you, a friend, or relative suspect wrongdoing on the part of your agent, report the suspected abuse to a law enforcement agency and consult a lawyer.

Can Too Many Agents Spoil the Broth? 
While you can appoint multiple agents, decide whether these agents must act jointly or separately in making decisions. Multiple agents can ensure more sound decisions, acting as checks and balances against one another. The downside is that multiple agents can disagree and one person's schedule can potentially delay important transactions or signings of legal documents.If you appoint only one agent, have a backup. Agents can fall ill, be injured, or somehow be unable to serve when the time comes. A successor agent takes over power of attorney duties from the original agent, if needed.

Being of Sound Mind. . . 
A power of attorney is valid only if you are mentally competent when you sign it and, in some cases, incompetent when it goes into effect. If you think your mental capability may be questioned, have a doctor verify it in writing. If your power of attorney doesn't specify requirements for determining mental competency, your agent will still need a written doctor's confirmation of your incompetence in order to do business on your behalf. A court may even be required to decide the competency issue in some circumstances.

Signing, Sealing, and Delivering a Power of Attorney
You must sign and notarize the original power of attorney document, and certify several copies. Banks and other businesses will not allow your agent to act on your behalf unless they receive a certified copy of the power of attorney.Attorneys are unnecessary to execute a power of attorney. However, it may be wise to consult one for advice about the powers being granted, to provide counsel on your candidate agent, and to make sure your document meets all legal requirements.Remember, you can revoke a power of attorney at any time. Simply notify your agent in writing and retreive all copies of your power of attorney. Notify any financial institutions and the County Clerk's office, if applicable, that your agent's power of attorney has been revoked.Needing a power of attorney is almost as certain as death and taxes in everyone's life. Illness, injury, old age, or daily life commitments happen to everyone. It is important to understand what a power of attorney is and how it can assist in taking care of business, even when you can't.This portion of the site is for informational purposes only. The content is not legal advice. The statements and opinions are the expression of author, not LegalZoom, and have not been evaluated by LegalZoom for accuracy, completeness, or changes in the law.

Notary Certificate Mistakes

Correcting Certificate Mistakes No Longer Allowed In California
By Michael Lewis on January 22, 2014 in Laws & Regulations


The California Secretary of State’s office issued a statement this month informing Notaries that they are not allowed to correct mistakes on a notarial certificate after a notarization is complete. While most Notaries are diligent in carrying out their duties, they are not immune from occasionally making errors in completing a notarial certificate — such as inserting incorrect dates, misspelling names or writing the wrong county in the venue.  

According to the state’s one-paragraph notice in the latest issue of the agency’s Notary News, “If you discover an error in a notarial act after completing the act, then notarize the signature on the document again. ”The NNA first became aware of this issue in 2012 when a member reported that she was being investigated by the Secretary of State’s office for correcting errors on certificates.  But this is the first time the state has published its official position.  The Secretary’s position means that if you discover a mistake after leaving the signer, you must meet with the signer again and complete a new certificate of acknowledgment or jurat.  At that time, you will need to go through all the steps required by law of a proper notarial act, including positively identifying the signer and completing a full journal entry for the transaction.  Essentially, you must perform a new notarization.  

The Secretary’s statement noted that “there are no provisions in the law that allow for the correction of a completed notarial act.”  However, the agency views correcting certificates after the fact to be a form of backdating, which is a possible criminal act and official misconduct under the law and could result in your commission being suspended or revoked.  Signing agents are particularly susceptible to making inadvertent clerical errors on notarial certificates because of the large number of documents contained in a loan package.  Signing agents should take special care to review all the loan documents carefully at the signing table before leaving the signer to make sure everything is completed correctly.



Michael Lewis is Managing Editor at the National Notary Association.

Refinance Affidavit and Deed Errors Prevalent

Deed and Refinance Affidavit (MD) Rejections Hit an All Time High!

With interest rates at their lowest point in years, and a boom in refinancing and purchase loans, common errors are being blamed for the sudden increase of rejected “Deeds” and “Refinance Affidavits (MD)” from County Recorder’s offices all over the country.
“Notaries are so busy these days, they often do not spend the time to check their work for completeness,” said N. Hamilton, servicing department – Irvine. “Often stamps are placed over text or forgotten altogether. “ Miss Hamilton also commented, “Notaries are not completing the wording within the Notary section, leaving the recorders office guessing who appeared before them.” Other problems noted have been as simple as the Notary stamp over inked, smudged or under inked, making the document unrecordable. 

These rejections delay the recording of the “Deed” or “Refinance Affidavit”, and put the financial institution at greater risk, as their loan is unsecured. Couriering the document to and from the notary adds additional expenses to the signing service and the Notary will usually have to go back out at their own expense to correct their mistake.
To avoid these errors, below are a few general guidelines from the County Recorder’s offices to insure the recording of all presented:
 
NOTICE TO NOTARIES PUBLIC
ON THE DESIGN AND USE OF AN OFFICIAL SEAL

(Section 8207 Government Code, Et. Seq.)
An official notary public seal must be clear on all documents so that the name of the notary, the State Seal, the words “Notary Public” and the name of the County where the bond is filed can be photographically reproduced.
The expiration of the commission and the notary and manufacturer identification numbers must also be clearly shown on the seals used by notaries public commissioned on and after January 1, 1992.
All the above referenced information must appear on the seal. It cannot be added in written or typed form or by the use of a separate stamp.
Either a rubber stamp or metal seal with the required information can be used. A seal must meet the “Notary Seal Requirements” for that State. The following format is recommended for a rectangular rubber stamp with black ink. (Please check your State requirements)

Documents may be unacceptable for recording if any one of the following conditions exists:
1. Seal is placed over or obscures an integral part of the text or a signature.
2. Seal is placed over decorative and colored symbols or borders of a document, resulting in the seal not being photographically reproducible.
3. Seal is altered with ink, typing, pencil, ECT.
4. Metal seal has been inked too heavily, resulting in an unclear impression that is not reproducible.
5. Placement of the commission expiration date outside the border of a seal (if commission expired on or after January 1, 1972)

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