Title firms ink deal on one-stop screening.To comply with new federal privacy-protection rules, six of the nation's leading title and mortgage document service firms have agreed to employ a National Notary Association The National Notary Association is an American nonprofit organization which provides education to and about notaries public. It was established in 1957 by Raymond C. Rothman. [1] External links
NNA National Newspaper Association NNA Nissan North America Inc. NNA National News Agency (Lebanon) NNA Nebraska Nurses Association ) developed solution for a "one-stop" background screening and compliance training system for Notaries in the mortgage loan industry. The impetus for the new screening and training program is the federal Gramm-Leach-Bliley Financial Services Modernization Act (15 U.S.C. [subsection] 6801-6809), which was enacted to protect American consumers' sensitive personal data from misuse in identity crimes and other scams. This new NNA certification program eliminates the current need for Notary notary or notary public Public officer who certifies and attests to the authenticity of writings (e.g., deeds) and takes affidavits, depositions, and protests of negotiable instruments. Signing Agents (NSAs) to undergo separate background screenings for every new lender, title firm or mortgage document service company that contracts with them to handle a loan signing. Over the past decade, mobile NSAs have accounted for more and more of the notarizations done for loan refinancings, because they offer borrowers the convenience of closing the loan in their own homes. The new Notary background screening and compliance training process represents a major strengthening of the National Notary Association's existing Notary Signing Agent Certification Program. Besides a confidential background screening, the Association's new program requires training and an examination on both Gramm-Leach-Bliley and Notary best-practices compliance. The six major title information service firms calling on the NNA to establish the new screening and training program are: First American Lenders Advantage, Fiserv Lending Solutions, LandAmerica OneStop, LSI LSI: see integrated circuit. (Large Scale Integration) Between 3,000 and 100,000 transistors on a chip. See SSI, MSI, VLSI and ULSI. (a Fidelity National Title company), National Real Estate Information Services See Information Systems. , and Stewart Mortgage Information (a subsidiary of Stewart Title). NNA Executive Director Timothy S. Reiniger, Esq., said that the screening program is part of a larger Association effort to increase Notary professionalism and trust through promoting notarial no·tar·i·al adj. 1. Of or relating to a notary public. 2. Executed or drawn up by a notary public. no·tar best practices in government and industry. "When six of the nation's leading title and document service firms approached the NNA to ensure that Notary Signing Agents--who have access to borrowers' sensitive personal information--comply with the requirements of Gramm-Leach-Bliley, we adapted and considerably amplified our existing NSA NSA abbr. National Security Agency Noun 1. NSA - the United States cryptologic organization that coordinates and directs highly specialized activities to protect United States information systems and to produce foreign program," Reiniger said. Enrollment in the new screening and training program is not required to become or remain a Notary Public A public official whose main powers include administering oaths and attesting to signatures, both important and effective ways to minimize Fraud in legal documents. . However, it is a requirement for any Notary handling loan signings for the participating major firms--and for other firms who follow their lead in the future. |
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