New CA thumbprint law

A new law recently enacted by Governor Jerry Brown will now require all California notaries to collect a thumbprint for any persons needing a notarization. This new law becomes effective on January 1, 2013. It also prohibits Notaries from performing a proof of execution by subscribing witness on any document that effects real property. The only other state at this time requiring a thumbprint is Illinois. But I am sure other states will soon follow. I strongly recommend obtaining thumbprints for all notarization's no matter what your state laws are at this time. The added security has proven to deter fraud and assist law enforcement in identifying suspects. Lisa Scanlon, CSA 941-447-7130 www.scanlonsigningservices.com

Mechanics liens being challenged

Two states (Rhode Island and Connecticut) recently invalidated mechanics liens against commercial properties because they were improperly notarized. An Acknowledgement was used instead of a Jurat. A Jurat requires the signer to give an oath or affirmation attesting to the truthfulness of the document. Notarizations are essential for mechanics lien statements across the United States but whether a mechanics lien does or does not need notarization varies from state to state. We must keep up with state laws and be aware of when an Acknowledgement is needed or a Jurat. Sincerely, Lisa Scanlon, CSA 941-447-7130 www.scanlonsigningservices.com

Federal Agency seeking comments on new mortgage proposals

The Consumer Financial Protection Bureau is seeking comments on a set of proposed rules designed to protect consumers from "robo-signing" and the foreclosures it caused. The federal agency states these new rules are a result of the foreclosure crisis and will effect how mortgage servicers do business. The proposals would create new rules under the Real Estate Settlement Procedures Act (RESPA) and the Truth and Lending Act (TILA) that requires extensive record keeping and mandates to offer consumers alternatives to foreclosure. Members of the public have until October 9th 2012 to comment on the rules. Lisa Scanlon, CSA 941-447-7130 www.scanlonsigningservices.com