Wednesday, November 17, 2010
House to Consider Override of Notary-Bill Veto
House lawmakers are scheduled to consider today a motion to override President Barack Obama's veto last month of a bill that critics claimed could make it harder for homeowners to stop flawed foreclosures, the Wall Street Journal reported today. The vetoed bill, sponsored by Rep. Robert Aderholt (R-Ala.), would require notarizations of mortgages and other documents, including those done electronically, that are done in one U.S. state to be accepted by courts in another state. The House approved the bill in April by a voice vote, and the Senate passed it unanimously in late September. President Obama, however, returned the bill to Congress without his signature last month as concerns mounted over the unintended impact that the measure could have on consumer protections amid growing problems with foreclosure documentation. Critics have said the bill would make it easier for lenders to speed up the foreclosure process. Aderholt has rejected any link between document-handling problems and the bill, titled the "Interstate Recognition of Notarizations Act of 2010."