Posted by MBCA on 9/22/06 12:03pm
Msg #147797

Just did a construction loan!

The docs were close to 300 pages with the borrower's copies. I filled up to full pages in my notary book! The signing service tried to low ball me on this one and I'm glad I stuck to my guns! They called around to find someone who would take it for what they offered, but the area is very remote for others, but close for me!

Reply by Traveling2U on 9/22/06 12:08pm
Msg #147798

Re: Just did a construction loan! Wonderful!!! good for you

WOW that was some loan was it for a track of home or commerical? I sure would like to see a set of construction doc's do you know if anyone sell a sample set?

Reply by MBCA on 9/22/06 12:32pm
Msg #147800

Re: Just did a construction loan! Wonderful!!! good for you

I don't know where you could get a sample of construction loan docs, but this is really pretty standard stuff. You have to pay attention to what you're doing, it's easy to miss an acknowledgment and the docs contained several copies of the "Power Of Attorney." I did call the title company to get a couple of things straight. Seems they were taking this property of a trust. Haven't heard from them yet, so I think I did eveything right!

Reply by MBCA on 9/22/06 12:35pm
Msg #147801

Re: Just did a construction loan! Wonderful!!! good for you

Sorry, I meant they were taking the property OUT of a trust. This wasn't a track home. Don't the builders have their own in-house notaries for track homes?

Reply by Traveling2U on 9/22/06 1:59pm
Msg #147821

Re: Just did a construction loan! Wonderful!!! good for you

h...um maybe they use them up :-) with stuff they shouldn't had done. I done a loan signing for a signle female. Her boyfriend was running the show name nowhere on the doc's he was such a control freak he told her just sign he read through the docs

he paused and looked at me and asked me did I back date I told him there isn't enough money to pay me to backdate. I don't break the notary laws for nobody I asked him did he want to stop the signing I can call the lender for you. No keep signing gosh

I need to find my place in this business due to the services people want you to do and not wanting to pay before and afterwards. I will re-figure my thoughts I have not yet had a signing without someone trying to screw me over.

when I'm forced to apply my energy on SS/lender instead of the job hired for I need to find what parts of the notary business I can work in, and parts I plan not to deal with. Where I took my class the CEO comes up with some really neat notary ideas.

I read the board last night he asked if anyone would like to be apart of a starbucks type notary setup. I have no details awaiting to be contacted. If I can do notary and get paid at the time of service I think I'll like that setup beter than getting burned.

I'm kinda put off with the head games they're playing I'll stay in the business it doesn't have to be 24/7 for me thank goodness ;-)

Reply by TitleGalCA on 9/22/06 7:51pm
Msg #147915

Congrats MB

I'm curious - it was a single family dwelling they were building, correct? Where was the property located?

Most of the large builders have in-house mortgage companies which promptly sell the loans the minute they record. In my area, those mortgage companies work with escrow, who in turn hire the notaries (which are the same notaries they know and love and refer all of their work to).

I suppose there could be other arrangements but in my experience, those in-house lenders don't get involved in hiring notaries.

Reply by TitleGalCA on 9/22/06 7:52pm
Msg #147917

BTW...it's "Tract" not "Track" (a pet peeve of mine) n/m

Reply by MBCA on 9/22/06 8:40pm
Msg #147924

Re: BTW...it's "Tract" not "Track" (a pet peeve of mine)

Sorry TitleGalCA, I stand corrected!

Reply by MBCA on 9/22/06 8:43pm
Msg #147926

Re: BTW...it's "Tract" not "Track" (a pet peeve of mine)

By the way, the property was up in Lebec, California. It's a little mountain community near Gorman by the Grapevine. The builders are local.

Reply by TitleGalCA on 9/22/06 9:34pm
Msg #147931

Re: BTW...it's "Tract" not "Track" (a pet peeve of mine)

We're very close to each other, MB. If you're ever inclined...call me at my other job in Oxnard...think "Attorney" and you have the TC.

Reply by Traveling2U on 9/22/06 1:43pm
Msg #147819

Re: Just did a construction loan! Wonderful!!! good for you

Thank you yes I go into slow motion and try very hard not to miss anything. NR is very helpful due to people like you all that always share. the good and bad I really appreciate everyone's experiences.

Sound like a good signing job about how long did it take you with those many entries