National Notary Association publishes fraud protection tips mortgagepress.comfraud awareness, tips, National Notary Association
To assist with the FBI's efforts in promoting mortgage fraud
awareness, the National Notary Association (NNA) has published a
list of "Tips to Protect Yourself From Mortgage Fraud at Closing."
The tips outline aspects of the typical closing that are
susceptible to mortgage fraud.
Federal officials and mortgage banking industry representatives
have recently identified mortgage fraud as a significant problem
nationwide, with the potential to rival the country's savings and
loan associations crisis of the 1980s. Notarization is an effective
weapon against mortgage fraud because it verifies identity, proves
willingness and awareness on the part of the signer, authenticates
signatures, and creates an auditable evidence trail for
prosecution. In addition, the notarial seal is an authenticating
tool that is used by law enforcement in detecting cases of document
tampering.
"We view our NNA notaries as 'guardians of property rights'
because they are uniquely suited to protect consumers and
businesses from fraud through their roles as professional identity
screeners and impartial witnesses," said Tim Reiniger, executive
director of the NNA. "Our notaries are trained and have access to
the most up-to-date information on proper documentation and
witnessing."
The NNA has also issued the FBI a five-page document that
describes the use of notarization in deterring, detecting and
prosecuting forgery and other forms of identity crimes. The
document also reminds officers that notarizations are available to
law enforcement agencies as part of ongoing criminal
investigations.
To view a copy of the NNA's "Tips to Protect Yourself From
Mortgage Fraud at Closing," visit www.nationalnotary.org.
