The National Notary Association (NNA) is informing Michigan notaries and employers that, effective January 1, a package of eight new state laws took effect, establishing severe penalties for improper or illegal notarizations related to the mortgage lending process.
The laws increase accountability for notaries, as well as the pressure on employers to ensure their notaries follow legal and ethical practices.
To help businesses and notaries comply and protect themselves, the NNA is implementing various support support services in Michigan including the Trusted Notary Protection program designed specifically for notaries, and the Notary Supervisor Training program geared toward employers.
“These new laws underscore the importance of proper notarization in protecting the public, companies, and notaries from severe losses and legal exposure resulting from real estate fraud,” said National Notary Association CEO Marc Reiser. “It’s essential that businesses train their notary-employees to follow state law and employ best practices to prevent mistakes that can lead to costly legal problems.”
The laws come on the heels of increasing instances of real property fraud, and continuing revelations of forgery and illegal document processes in the “robo-signing” crisis, he said.
Michigan’s laws give the state the authority to prosecute individuals and businesses that deliberately falsify documents and notarizations in real property transactions, punishable by up to 15 years in prison and/or a $500,000 fine for each violation.
One bill — Senate Bill 252 — makes it a felony to intentionally violate state notary laws when notarizing documents involving real property or a mortgage transaction, punishable by up to four years in prison and a $5,000 fine.
The new NNA program includes notary classes, training, insurance and support.
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