OBAMA ASSISTS MORTGAGE FORCLOSURE VICTIMS BY VETOING THE INTERSTATE RECOGNITION OF NOTARIZATION ACT OF 2010

10/9/2010

CHICAGO-(AEAE)-THE U.S. SENATE SOLD OUT AMERICAN HOME OWNERS BY PASSING A BILL — the Interstate Recognition of Notarizations Act of 2010 — that could have made it more difficult for foreclosure victims to challenge banks that may have improperly approved their foreclosure. The legislation would have forced states to accept documents that were notarized in other states, under potentially different sets of notary standards, without verifying any of the documentation. The Senate sold out the American people when it passed the bill without debate and despite widespread reports of foreclosures across the country being approved by bank “robo-signers” (employees who weren’t verifying the necessary documentation to legally okay a foreclosure). This morning, The Wonk Room called on President Obama to veto the legislation. This afternoon, the White House announced that Obama will not sign the bill: Lets give credit to Barak Obama when credit is due.

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