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June 2012

A Favor For Co-Worker Costs Notary Her Job And $5,000

Favors for friends are not unusual, but a Notary for a national stock brokerage found out the price for such a favor can be steep when it involves breaking the rules of proper notarization.

States Moving To Make Loan Servicing Standards Permanent

The document-signing, notarization and other loan servicing standards implemented by the National Mortgage Settlement currently apply to only five major lenders and are set to expire in 2015. As a result, states are beginning to introduce measures to expand the reach of the terms and make them permanent.

CFPB Increases Scrutiny On Third Party Vendors And Banks That Employ Them

The Consumer Financial Protection Bureau (CFPB) has released an alert to banks and small business financial institutions under its supervision, reminding them that they are responsible for proper oversight of all third-party service providers they employ, to ensure they are compliant with new federal regulations.

Government Launches Site To Help Whistleblowers Report Mortgage-Related Fraud

Many Notary Signing Agents and other professionals in the mortgage industry are reluctant to report mortgage-related fraud practices in the workplace, fearing for their jobs. However, a federal agency is now actively encouraging whistleblowers with a new online site to report dishonest practices.