| Few industries have been spared by the current | | | | the mobile New York notary public has had to |
| recession and the mobile New York notary public is | | | | diversify and shift more of his or her marketing focus |
| no exception. With banks severely tightening their | | | | to other areas such as adoption document |
| credit belts, loans are now being approved only for | | | | notarizations, power-of-attorney transfers and the |
| customers with outstanding credit ratings who are | | | | signing of living wills and traditional last will and |
| very low credit risks. This has resulted in a significant | | | | testaments. The mobile New York notary public has |
| drop in the number of loans to be notarized by the | | | | also had to revise websites and advertising |
| mobile notary public, especially in a large city like New | | | | campaigns to emphasize these other areas. |
| York where there is so much demand for loans and a | | | | Staff Cutbacks Lead to Opportunities for Mobile New |
| mobile notary public. | | | | York Notary Public |
| In addition, when banks like Washington Mutual and | | | | However, the recession has led to some new |
| JP Morgan Chase Manhattan Bank were approving | | | | opportunities for the mobile New York notary public. |
| sub-prime loans at a steady rate during the past few | | | | A large number of businesses in New York have had |
| years, mobile notaries in New York were kept very | | | | to lay off staff that has included in-house notaries |
| busy. Notarizing loan signings is also one of the more | | | | and the mobile New York notary public is often called |
| lucrative parts of the mobile notary business since | | | | to fill in. Also, many non-profit companies in New York |
| there are usually a large number of notarizations in | | | | who have been hit hard by the recession are seeking |
| each loan package and it requires supervising the | | | | financial help from the city, which requires additional |
| signing of all the documents, which increases the total | | | | compliance documentation and notarization |
| notary fee. Notaries now find themselves in a | | | | opportunities. |
| completely different business environment, where | | | | Adding Other Skills to the New York Mobile Notary |
| these types of loans are no longer being approved | | | | Repertoire |
| by the banks that still exist after the recent banking | | | | Mobile notaries in New York are also pursuing other |
| crisis. | | | | non-notary areas that relate to reducing fraud, such |
| The mobile notary public is sometimes hired by a | | | | as fingerprinting. Notaries are needed to obtain the |
| notary signing company for these jobs and these | | | | inked fingerprints of school and job applicants who |
| signing companies are sometimes paying notaries less | | | | need to be screened by the FBI for criminal records. |
| for their notary work or not increasing their pay due | | | | Economists are expecting banks to start to loosen |
| to the recession. | | | | their credit lines soon, so mobile notaries should start |
| Importance of Diversification for Mobile New York | | | | to see the number of loans start to increase before |
| Notary Public | | | | too long and they can get back to the more lucrative |
| As a result of this decrease in loan signings and pay, | | | | part of their business—notarizing loan documents. |