This law is not specific to foreclosures. It covers all notarizations, and all court cases involving interstate commerce.
And yes, at the moment, virtually every congressperson believes that it would be terrible for a state to refuse to recognize the legally, lawfully notarized paperwork from another state. That’s why they passed the law unanimously.
My mortgage company doesn’t reside in my state. I don’t know why they should have to come to my state and sign papers in front of a notary within my state; the notary just says the person’s signature is really their signature — why do I need an in-state notary to attest to that?
Just because there are INVALID notary signatures doesn’t mean valid ones shouldn’t be accepted. And requiring in-state signatures doesn’t solve the problem of illegal, invalid notaries — obviously ALL of those invalid notary signatures happened in a state somewhere.
This law is a reasonable law for an era where a lot of interstate commerce involves legal filings which need verified signatures. The problem of illegally signed items is a separate issue, and should be dealt with on it’s own merits, not by vetoing a reasonable and trivial law meant to simplify the verification of signatures.
I don’t want to see foreclosures stopped. It hurts banks that did everything right.
When you have banks stopping their own foreclosures because of problems with the paperwork. My radar is on full alert.
We have certainly learned in the last few years that every time a law shoots through Congress at Ex-Lax speed, it's generally not good news for Americans.
So the question is why, after over a century of satisfactory performance by the Notaries Public concept all across the USA, is there suddenly an emergency need to pass this particular bill???
(footnote - I am not a notary, my username notwithstanding. Google "Notary Sojac" for info)