Well, if the Kenyan Clown does veto this loathesome and stupid bill, it will literally be the first action that he has taken will occupying the Oval Office that I approve of.
Me too.
This mortgage/title/deed recording/MBS bullsqueeze is a HUGE mess!
What idiot proposed this bill in an election year? Don’t tell me it was a group of republicans.....
“Well, if the Kenyan Clown does veto this loathesome and stupid bill, it will literally be the first action that he has taken will occupying the Oval Office that I approve of.”
Not sure if anyone is getting this. By forcing mortgage companies not to foreclose (legally) you are tearing down the mortgage industry. Which I guess will mean that you will be buying homes from the government eventually.
Gee, didn’t see this one coming.
At the same time he widens the enthusiasm gap.It is a good move, unless you are poor and under water on your loan.
Congress is horribly overstepping here. At the same time the CEO and officers of the banks perpetuating outright fraud with forged foreclosure documents should be heading to jail.
This nasty bill forces every court to accept a digitally notarized legal instrument. It also forces every court to accept digital notarizations from every locality, whether or not they want to. It is a horrible and stupid extension to the "Electronic Signatures in Global and National Commerce Act" passed back in 1998.
Here's the text of the legislation being vetoed:
H.R.3808 -- Interstate Recognition of Notarizations Act of 2010 (Enrolled Bill [Final as Passed Both House and Senate] - ENR)
--H.R.3808--
H.R.3808
One Hundred Eleventh Congress
of the
United States of America
AT THE SECOND SESSION Begun and held at the City of Washington on Tuesday,
the fifth day of January, two thousand and ten
An Act
To require any Federal or State court to recognize any notarization made by a notary public licensed by a State other than the State where the court is located when such notarization occurs in or affects interstate commerce.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Interstate Recognition of Notarizations Act of 2010'.
SEC. 2. RECOGNITION OF NOTARIZATIONS IN FEDERAL COURTS.
Each Federal court shall recognize any lawful notarization made by a notary public licensed or commissioned under the laws of a State other than the State where the Federal court is located if--
(1) such notarization occurs in or affects interstate commerce; and
(2)(A) a seal of office, as symbol of the notary public's authority, is used in the notarization; or
(B) in the case of an electronic record, the seal information is securely attached to, or logically associated with, the electronic record so as to render the record tamper-resistant.
SEC. 3. RECOGNITION OF NOTARIZATIONS IN STATE COURTS.
Each court that operates under the jurisdiction of a State shall recognize any lawful notarization made by a notary public licensed or commissioned under the laws of a State other than the State where the court is located if--
(1) such notarization occurs in or affects interstate commerce; and
(2)(A) a seal of office, as symbol of the notary public's authority, is used in the notarization; or
(B) in the case of an electronic record, the seal information is securely attached to, or logically associated with, the electronic record so as to render the record tamper-resistant.
SEC. 4. DEFINITIONS.
In this Act:
(1) ELECTRONIC RECORD- The term `electronic record' has the meaning given that term in section 106 of the Electronic Signatures in Global and National Commerce Act (15 U.S.C. 7006).
(2) LOGICALLY ASSOCIATED WITH- Seal information is `logically associated with' an electronic record if the seal information is securely bound to the electronic record in such a manner as to make it impracticable to falsify or alter, without detection, either the record or the seal information.
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.
This is ridiculous, and it is fraught also with all kinds of technical problems. Even good faith signing efforts from 1998 when the Electronic Signatures law went into effect are now completely vulnerable to advances in cryptography.
From what I understand, however, his plan to pocket veto the law is illegal, because congress is in session.
You like it? But with the pocket veto, Obama isalso asserting a right to veto bills in a way Congress can’t override. When the GOP gets in, and takes both houses, Obama will be able to veto every bill.
How do you like dem apples?