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Fed Surprises and Holds Interest Rates

The Federal Reserve defied expectations last week and left interest rates unchanged.  The decision boosted the value of the dollar in the international markets.

Still, there is an impending raise in rates before the end of the year.  The majority of analysts still believe that the rate will be bumped by a quarter of a percent at the Fed’s December meeting.  How does the Fed raising interest rate affect notaries?

New economic projections released after the Fed’s two-day policy meeting showed 11 of 16 officials see the “appropriate” level for the federal funds rate, the central bank’s benchmark interest rate, to be in a range between 1.25 percent and 1.50 percent by the end of 2017, or 0.25 percentage points above the current level.

— Reuters

Low rates still abound, and are great for the market. And expectations of rate increases is always a good motivator to get people into the real estate or loan market before they are charged a higher rate.

The kicker that we are seeing right now, as that in the short term, housing sales have taken a hit. It is a small percentage, so it is nothing to panic about, but low housing inventory is leading to rising prices. Whether this motivates potential buyers to pull the trigger before prices get higher, or if it causes people to hold off on purchases remains to be seen. But, consider this:

Homes are also selling quickly because of the lack of options for buyers. The average number of days on the market was 30 in August, down from 36 a year ago.

— USA Today
Fed Rates and Housing Sales

Optimism for the housing markets in 2018 is higher, as a larger influx of newly constructed homes are expected to hit the market and raise inventory levels. Which will hopefully increase sales and increase work for notaries.

There has been a lack of newly built homes in the last decade since the crash. With new home construction up, we are finally seeing concrete (or wood) evidence that developers and their investors are confident in a growing marketplace for home buyers.

If that happens, it will help mobile notaries make more money.

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Louisiana Notary Exam Goes Digital

2025 will see notary accreditation head online. In spring, it will have sprung on all aspiring notaries.

The test may only be done at one location. It will be held at the Louisiana State University campus in Baton Rouge. It will be held multiple times each month and will replace the paper exam.

Notaries will be given additional time for each exam question. The exams will also be available more times each month than they are currently.

“We are very excited by this development. The new format will provide more opportunities to pass the examination, significantly shorten the wait-time for re-taking it, and allow for scores to be released faster. It is our hope that eventually we can make the examination available at other testing sites around the state,” Secretary Landry said.

Louisiana Notary Exam Goes Digital

Other testing sites would be a welcome addition for notaries. We’d imagine it is difficult for some to make the trip to Baton Rouge.

The final paper exam will be towards the end of January 2025. The 2025 edition of the notary study guide will be available in January on the Secretary of State’s website.

To find more information about the change please visit this page.

In the News – November 2024

Recording a Notary Commission Just Got Simpler in Philadelphia

We all love when things get easier.

For Notaries in Philadelphia, an important step was removed from the notary commission process. Previously, the commission had to be double recorded, first with the Philadelphia Department of Records, then again with the Office of Judicial Records.

The recording with the Office of Judicial Records has been removed. Notaries only need to file with the Department of Records now.

It is streamlined, more efficient and time saving. And who doesn’t like that.

Notary Called to the Stand During Medical Cannabis Trial

So, they are trying to get medical cannabis on the ballot in Nebraska. A Hall County man was charged with submitting fraudulent signatures.

Besides the circulator himself, as well as a forensic examiner, the notary had to testify at the trial.

It didn’t look good for the notary.

During examination, the notary was “advised to invoke his fifth amendment, against self-incrimination” on nearly all questions asked by the plaintiff attorney Justin Hall, requiring Judge Susan Strong to weigh in on each instance of pleading the fifth.

While there were a few questions where the fifth amendment was not invoked, overall it did not look good for the notary.

Questions included the notary’s involvement with the ballot initiative, as well as text interactions with organizers of the petition.

A simple reminder we do not post notary names and always give them the benefit of the doubt.

Building the Ultimate Mobile Office for Notary Public Loan Signing Agents

Are you a notary public loan signing agent looking to maximize your efficiency and profitability? A mobile office could be the game-changer you need. In this guide, we’ll walk you through building a mobile office, including vehicle selection, essential equipment, customization tips, and hacks to ensure your business runs smoothly on the go.

Why a Mobile Office?

A mobile office allows you to take your notary services directly to clients, saving time and increasing the number of appointments you can handle daily. Imagine printing documents right in the client’s driveway or having a dedicated workspace wherever you go. It’s all about efficiency and providing top-notch service.

Step-by-Step Guide to Building Your Mobile Office

Building the Ultimate Mobile Office for Notary Public Loan Signing Agents

1. Vehicle Selection:

  • Type: Choose a spacious and reliable van, such as a Ford Transit or Mercedes Sprinter.
  • Used vs. New: Opt for a used van to save on initial costs. Ensure it’s in good condition and suitable for customization.

2. Finding a Customization Shop:

  • Search for: Van conversion companies that specialize in creating mobile offices or motor homes.
  • Keywords to Google: “Custom van conversion,” “van life cabinets,” “mobile office van customization.”

3. Essential Office Equipment:

  • Scanner: Secure a sturdy scanner on top of your setup to prevent movement during transit. Epson Scanner makes a really good one!
  • Printer: Install a dual tray laser printer. Brands like Brother or HP are reliable and efficient for document-heavy tasks.
  • Mounting Supplies: Use heavy duty Velcro strips to secure your equipment. These are great and super strong and easy to use!

4. Storage Solutions:

  • Custom Cabinets: Install custom cabinets for storing essential office supplies such as binder clips, pens, paper clips, rubber bands, a stapler and extra paper.
  • Drawer for Extra Supplies: Keep extra paper, toner, and printer drums in dedicated drawers to ensure you’re always prepared.

5. Power Setup:

  • Battery and Inverter: Install a battery and inverter hardwired into the vehicle’s electrical system to power all office equipment efficiently. https://amzn.to/3APP3MI
  • Rechargeable External Battery: Optional for added power security like a portable power station.

6. Comfort and Efficiency Enhancements:

  • Swivel Seats: Ensure the driver and passenger seats can swivel to face the back, creating a comfortable workspace.
  • LED Lights: Install LED lights for visibility during early morning or late-night signings.

7. Additional Features:

8. Efficiency Hacks:

  • Preparation: Regularly restock supplies and check for shortages to ensure you’re always ready.
  • Use of Time: Utilize the van as a true mobile office, performing tasks like printing, checking documents, and scheduling while on the go.
  • Hiring Assistance: Consider hiring a driver, such as a responsible family member, to maximize your working time between signings.

Conclusion

Building a mobile office tailored to your notary public loan signing business can significantly boost your efficiency and profitability. By following these steps and incorporating the right equipment and hacks, you’ll be well on your way to providing top-tier service while maximizing your earnings.

Ready to take your notary business to the next level? Start building your mobile office today and experience the difference it can make!