Dwight Watt - Watt Thoughts #222 10/13/2010

#222 - Obama's Veto Part 2 (Watt Thoughts)

The bill that was passed unanimously was changing requirements on where papers had to be signed and notarized for foreclosures. I am not really sure my opinion on the bill. I was just commenting on the odd processes occurring in DC.

The bill allows electronically notarized documents and documents notarized in a different state than filing in the foreclosure process. Electronic signatures (and I had not heard of electronic notarizing, wonder if my uncle who is a notary and does not use a computer knows about it) raise questions to many people. I would have thought a duly notarized document in one state would be recognized in another state, i.e. interstate commerce. The concerns are that it will make it easier to and quicker to foreclose and whether documents were legitimate. Questions we need to consider but I still find it odd that the House had passed it twice before and then it made unanimously in the Senate this fall and had passed the House on a voice vote in the spring and no one had thought of concerns until Obama. There seems to be agreement that some type way needs to be found to accept notarized documents across state lines. Apparently you can use non-embossed from out of state in some states and others say it can only be embossed from anywhere and no agreement on that, much less using electronic notarizing. Hopefully they can find way where notarized documents are known to be done right and usable across state line but also that the documents really were signed by the person signing it. There is no way I can think of that we can really make people have really read before signing and know if info is really right they signed. That is what courts often have to decide whether the document is is truthful.

Further consideration of the bill is needed, but a real veto would have been more straight forward, not try to slip a pocket veto, and our representatives who are now saying it needs refining should have thought more before voting. It remains hard to believe though that it managed to go thru Senate unanimously, I am not really sure we could pass a bill unanimously there that the sun rose this morning.



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