Feds crack down on notarios

Notaries pretending to be notarios and doing immigration work now have 3 federal agencies on their tail. Seven cities are targeted.

A poster online alleges he was told loan officers at a certain bank notarize documents for loans they originate as common practice. Typically states prohibit notaries from notarizing a document in which they have a financial interest.


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Image courtesy of Simon Howden

$10 a signature -- can you make money doing this?

Notaries in California are limited in what they can charge--usually $10 a signature.

Can you multiply that? Gabriel Ortiz in 12 Tips to Make More Money as a Notary Public says absolutely.

He reports there are 3 steps:

1. Become a better notary--provide more service
   
2. Don't spend more money in the business than you have to.
   
3. Use your commission to branch out into watching people sign mortgage loan documents, celebrating weddings and proctoring traffic school exams.

Gabriel spent 9 years working with notaries in the mortgage business. One of his friends (during the refinancing boom) made $50,000 one year leveraging these tips.

At 99 cents, this is a must have item. (Check with your accountant to see if this purchase is tax deductible as a business expense.)

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