CEMA... New Jersey commissioned, can accept?

Beginner's Questions
1

Hello everyone!

As a new “rookie” (LOL) I’ve been receiving a few CEMA signings, which I understand is a NY kind of loan to help their taxpayers, but since I’m in the border line of Staten Island (NY) and my commission is from New Jersey, I guess they believe I can do so… my questions are simple: why have I been offered those CEMA signings?
Can I accept them? I’m confused about it and I’ve been passing them down because I’m commissioned in NJ.
Thank you for any help/comments/advise any of you can offer me!

2

If your signer is in New Jersey I don’t see why you can’t - unless there’s some New York law that states it must be a New York Notary.

If you’re asking if you can cross over into Staten Island and do the signing - no you can’t. As you stated, your commission is in NJ and I believe you are restricted to notarizing in NJ.

3

Thank you, Linda, for clarifying that for me… you’re right, if the person comes to me I can do so, but I can’t cross the bridge to Staten Island, NY…I was just wondering why I keep receiving those CEMA signings, I thought there was an exclusion to it since is a kind of special loan only for New Yorkers.

4

Honestly, there may be. Although I have heard of other notaries closing CEMA loans.

Here’s an idea - search this site for some New York notaries and check out their profile - they may state they’re versed in CEMA; or send them an email and ask them asking for advice. Stress you’re not their competition in NY as you are in NJ.

Just a thought.

5

They probably are just contacting every notary within a particular mileage radius–which includes NJ. I’m in a county that borders another state & frequently get contacted for ‘not-my-state’ signings.

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6

I thought that could be a possibility.

7

I’ve seen some NJ notaries profile stating that the accept CEMA… I’m hoping some of them answer this post. Where’s the loop hole!?

8

I’m in Florida and have done several CEMA loans. I’ve notarized loan documents for properties in numerous other states. You cross through the state & county on the acknowledgments and jurats and put your county and state where you are and then initial the change.

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9

Thank you @carolwpb and @LindaH-FL
for clarifying this for me… you always helpful and on point @LindaH-FL :slightly_smiling_face::relaxed:

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10

I’m not Carol…but maybe this will help you - here is a brief description of a CEMA loan from here http://www.thejordangroup.net/documents/CEMA_Loans.pdf

"What is a CEMA?

• CEMA is short for Consolidation, Extension, & Modification Agreement.

• A CEMA loan is an agreement between the existing Lender and the New Lender to combine two or more loans into a new, consolidated loan. No cancellation will be filed on the existing mortgage. The homeowners’ credit report will reflect the new CEMA mortgage and will report the existing mortgage as transferred.

• In an effort to decrease the mortgage tax resulting from a refinance, the CEMA will allow the homeowner to pay the calculated tax only on the new money or additional amount above what was originally borrowed."

Now to answer your question, unless you’re commissioned in NY you cannot go to NY and close these - you must be in NJ when you notarize any documents. What Carol said was to “cross out” the state and county in the venue, put correct state and county in (in NJ) and initial the change.

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