Notary Help, Uncategorized

The New Uniform Residential Loan Application

Some tips to guide signatures and initials.

The new Loan Application is at least 10 pages long and may generally require an initial and a signature. For more than one borrower, the document may add additional 5 pages per additional borrower. Each borrower will have their own page to initial but all will sign on one page (under Section 6, “Acknowledgments and Agreements”).

Here are some pictures to help you find where the initials and signatures required will appear:

Additionally there may be another document (named “Lender Loan Information”) containing three pages, all of which will need to be initialed by all borrowers:

There may be additional aspects to look for and NeedANotary.Com will look to add the information as it comes up.

Happy Signings!

Mileage2Go

Mileage2Go Develops Smart Mileage Calculator for Vehicle Users

American based app developer; Mileage2Go has developed a smart solution to calculate mileage of vehicles, making it easier to get miles driven each year.

The Internal Revenue Service has issued the 2020 tax year standard mileage rate of 57.5. This rate is used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Mileage has become an important component of determining tax deductions and the second-hand value of a car. While mileage is one component of a vehicle’s health, many people see it also a measure of reliability and durability, as well as a measure of fuel economy. 

Mileage2Go uses Google Calendar entries and calculates the mileage to and from a starting point selected by the driver. With the Mileage2Go solution, filing expense reports just got easier.

“Mileage2Go is a great tool to calculate mileage for tax deductions and for expense reports,” the app developer said in a statement on its website.

Drivers do not have to remember to turn anything on or off when they are traveling. They don’t have to look up every distance between two appointments. 

To use this innovative mileage calculator, drivers simply log the event on their Google Calendar. When a vehicle user is ready to figure out their mileage, they simply sign into their Mileage2Go account, select their starting point and the timeframe they want to use and Mileage2Go will create a report of the trips they have taken directly from their Google Calendar and provide the mileage. All they have to do is review and analyze entries. 

For those who does not use Google calendar, they can import their data with Excel format.

Mileage2Go also allows users to upload spreadsheets to get their mileage in a particular format.

Mileage2Go has subscription packages for one month, 3 months and 12 months. . One can select any one week of calendar entries for free to try out this service and will be able to download a report which will show the mileage calculated.

Mileage2Go

Introducing Mileage2Go.Com – Get your Mileage Deduction using your Google Calendar!

Mileage2Go is a great tool to calculate mileage for tax deductions and for expense reports.

Mileage2Go uses your Google Calendar entries and calculates the mileage to and from a starting point you select. You don’t have to remember to turn anything on or off when you are traveling. You don’t have to look up every distance between two appointments. Simply log the event on your Google Calendar. When you are ready to figure out your mileage, simply sign into your Mileage2Go account, select your starting point and the timeframe you want to use and Mileage2Go will create a report of the trips you’ve taken directly from your Google Calendar and provide you the mileage.

If you are old school and log everything on a spreadsheet, Mileage2Go allows you to upload spreadsheets to get your mileage. There is a particular format that will be needed, but it is possible to get your mileage using Mileage2Go.

Give it a try! Mileage2Go allows you to process 30 days free.

Covid-19, RON

Notaries, Beware of RON

States are enacting emergency orders to allow RON, Remote Online Notarization, as a way to safeguard both the public and notaries in areas where quarantine orders have been instituted. Besides taking away one of the primary functions of personal appearance, RON also takes away the notary’s ability to identify the signers. The function of identity verification occurs through a third party function before the signer is connected to the notary public via audio visual means.

If notaries conduct business in a state which mandates notary’s responsibility for identification, using RON can make the notaries legally responsible for incorrect identification that the third party made.

Considering RON only uses a less reliable system where personal questions are posed to the signer who must answer correctly before being given access to the notary public, the ability of fraud can become prevalent. Currently RON does not have the ability to use Biometric methods (facial recognition, thumbprinting, etc) even though states, like Virginia, have written laws to require it.

Primary functions of the notary public are to identify the signer and determine their understanding and awareness of what they are signing. These functions are seriously limited when using RON. With the identification piece entirely eliminated from the notary’s responsibility, states that place the legal responsibility on the notary will need to revise their laws to safeguard notaries public from legal ramifications regarding the identification of signers.

If you are a notary, please read your state laws carefully before engaging in RON. You may be subjecting yourself to more harm than protecting yourself from Covid-19.noron

Covid-19

Notaries Public and Signing Agents are Essential Workforce

Notaries Public are ” Essential Critical Infrastructure Workforce for the financial services sector” as defined by the attached memorandum from US Treasury Secretary, Steven Mnuchin. Notaries Public are “. . . workers who are needed to process . . . financial transactions and services, such as . . . settlement services,. . . to provide consumer access to . . . lending services, including . . key third party providers who deliver core services.” Notaries Essential