LOS ANGELES, Oct. 21, 2004 (PRIMEZONE) — To abetment with the FBI’s efforts to advance mortgage artifice awareness, the National Notary Association (NNA) has arise a account of “Tips to Assure Yourself From Mortgage Artifice at Closing.” The tips active consumers to aspects of the archetypal closing that are affected to mortgage fraud.
Federal admiral and mortgage cyberbanking industry assembly accept afresh articular mortgage artifice as a cogent botheration civic with the abeyant to battling the country’s S&L crisis of the 1980s (see Note 1). Notarization is an able weapon adjoin mortgage artifice because it verifies identity, proves alertness and acquaintance on the allotment of the signer, authenticates signatures, and creates an auditable affirmation aisle for prosecution. In addition, the notarial allowance is an acceptance apparatus that is acclimated by law administration in audition cases of certificate tampering.
The NNA, the nation’s arch able alignment committed to the advance and abutment of Notaries, has additionally issued to the FBI a five-page certificate that describes the use of notarization in deterring, detecting, and prosecuting bogus and added forms of character crimes. The certificate additionally reminds admiral that notarizations are readily accessible to law administration agencies as allotment of advancing bent investigations.
“We appearance our NNA notaries as ‘Guardians of Acreage Rights’ because they are abnormally ill-fitted to assure consumers and businesses from artifice through their roles as able character screeners and candid witnesses,” said Tim Reiniger, Executive Director of the NNA. “Our Notaries are accomplished and accept admission to the best up to date advice on able affidavit and witnessing. Working with a Notary gives a customer the aegis and accord of apperception that his/her acreage and character rights are actuality protected.”
The NNA is generally alleged on to explain and advance Notarial Best Practices to industry and law enforcement. The NNA’s “Model Notary Act” has formed the base of Notarial laws and statutes beyond the country. Added advice on the role of the Notary in attention adjoin mortgage fraud, including the NNA’s Model Notary Act and customer active admonishing “Tips to Assure Yourself From Mortgage Artifice at Closing” can be begin on the NNA’s website at NationalNotary.org.
Note 1: http://www.cnn.com/2004/LAW/09/17/mortgage.fraud/
1) Start on the appropriate foot. Accomplish abiding the name on your appliance matches the name on your primary anatomy of identification. The notarization at the closing table may be delayed, and possibly denied, if these names don’t match.
2) Apperceive and accept the agreement of your mortgage. Bring all your accommodation advice with you to the closing so that you can analyze the account of accommodation terms, the accommodation blazon and the absorption amount advice on the abstracts with the accommodation agreement that you agreed to back the abstracts were drawn.
3) Be prepared. Don’t accept that your lender has captured all of your claimed advice accurately. Check your appliance advice adjoin the final accommodation abstracts to ensure that the advice is actual and complete.
4) Never assurance any accommodation abstracts that accommodate blanks. The abstracts should not be notarized if there are blanks. Blanks in your certificate accomplish you accessible to fraud.
5) Apperceive your appropriate of aishment aeon and if it applies to your loan. If you accept a aishment aeon you will accept three canicule in which to aish the deal. Accept that if you exercise your appropriate to rescind, there may be added risks you hadn’t anticipated, like accident your bound in mortgage rate.
6) Apperceive what you’re signing. The Notary’s role is to be an impartial, third-party witness. Notaries apperceive actual little about the capacity of your accommodation amalgamation and will not be able to acknowledgment questions accompanying to the specifics of your loan. If you accept any apropos about your loan, these should be antiseptic with your accommodation administrator afore you assurance your documents.
7) Accomplish abiding that you and your Notary are in the aforementioned allowance at the aforementioned time back the certificate is actuality signed. You charge arise in being in advanced of a Notary to accept your signature notarized, alike if the abstracts accept been exchanged electronically throughout the process.
8) Work alone with a Notary who can acquaint anon with you in your own language. Do not depend on an analyst who may accept a motive for misrepresenting the document. Ask for a bilingual Notary if you allege a accent added than English.
9) Use a able Notary who has been accomplished by the National Notary Association and keeps accepted on important developments in artifice blockage and apprehension through NNA membership. It is chancy to await on an green Notary.
About The National Notary Association
The National Notary Association (NNA), America’s able Notary organization, develops and promotes notarial standards and best practices for the nation’s Notaries. The alignment is committed to furthering the practice, professionalism and ethical standards of the Notary profession. For added advice about the National Notary Association alarm 800-US NOTARY (800-876-6827) or appointment www.NationalNotary.org.
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