Posted by Pamela on 9/29/06 9:20pm
Msg #149387

NNA Petpeeve!

Last week I telephoned the NNA regarding the new background requirements
for those signing agents who already have had extensive background checks,
for their line of work (i.e. real estate agents, loan officers etc.).

I spoke to both a supervisor and "lead" Customer Service Specialist.
The new background requirements, I was told does not exclude
anyone.

Meaning that, if someone is already a licensed real estate agent,
loan officer, escrow officer etc. . . and also does loan signings,
that person will still need an additional background check, via the NNA.

I find this absurd!

The reasons given to me is that the NNA wants to make certain
that their signing agents have the appropriate background
check. It is no matter to the NNA, if their signing agents are already
licensed real estate/mortgage professionals. That although
(for example) someone may be "cleared" to originate loans, it does
not qualify that person to handle loan documents as a signing agent
due to "privacy" issues.

Therefore, I was told that if I did not sign-up with the NNA,
by December 1st (for both the background check and certification),
that I would lose a great deal of work (about 75 percent).

Also, the background checks would be required every two years.

This does not make sense!

What I forgot to ask was: "Will lawyers in the 'attorney only states'
be subjected to this additional background checking?" Most likely not!

Pam

Reply by Charles_Ca on 9/29/06 9:25pm
Msg #149390

Re: NNA Petpeeve! This is absurd!

..."That although (for example) someone may be "cleared" to originate loans, it does
not qualify that person to handle loan documents as a signing agent
due to "privacy" issues."

I'd really like to see someone originate a loan without handling loan documents: it all starts with a 1003. Their problem is that they haven't thought it through, they just see the money they stand to gain.

Reply by Pamela on 9/29/06 9:40pm
Msg #149395

Charles, Re: NNA Petpeeve! This is absurd!

I agree.

I went over this several times with them and this is their stance!

Pam

Reply by David Kral on 9/29/06 11:36pm
Msg #149430

Re Attornies

I my state real estate agents, attornies and (those who hold securities licenses) are required to notify the state(who ever granted them the particular license) promptly on any gross misdemeanor or felony.

Also, if you are a real estate agent and then become an insurance agent, you have to have the backgound check run again.

I am waiting for the day the state mandates a periodic background check. They could just shorten commission terms to every two years and make it part of the re-application process.

Reply by JanetK_CA on 9/30/06 2:39am
Msg #149443

Right! This whole issue seems to me to have "anti-trust" written all over it. I don't see how we can be required to buy membership in a particular organization in order to gain access to a qualification to do our work - let alone an organization that many of us have lost complete respect for and want no association with. I hope Harry's alternative plan (or something similar) comes to pass if this requirement becomes a reality, because I sure don't want to be sending money to an organization that I feel is hurting my profession rather than helping it!!

It almost feels like they are trying to hold SAs hostage - or extort money from us. That's just shameful! As I've said before, if their intent truly was to provide a service to notaries public, they would make the service available to anyone, regardless of membership status. Even if they did, though, at this point, I don't think I'd want to trust them with my information!

Reply by Stamper_WI on 9/30/06 7:53am
Msg #149457

I do not belong to the NNA and I get plenty of signings

Reply by MistarellaFL on 9/30/06 8:15am
Msg #149462

Attorneys: Are monopolies legal?

I thought they were NOT.
This stinks of one, IMO.
Isn't that what de-regulation was all about?
Correct me if I am wrong....I could be, but want advice....

Reply by JanetK_CA on 9/30/06 4:11pm
Msg #149551

Re: Attorneys: Are monopolies legal?

I'm not an attorney, but the only legal monopolies I'm aware of are utilities which are government regulated - as in must get approval to raise their fees. Actually, my guess is that the NNA is just trying to be the first in the door and manipulate notaries into thinking that they will have to link up with them to continue to do business. I suspect that their notices include a fair measure of hyperbole - tactics they've used before. I just hope most notaries don't fall for it!

Reply by David Kral on 10/1/06 4:03am
Msg #149602

Organizations

Well, one upon a time, one company likely offered E&O insurance. Some title cos thought it was a good idea, eventually other companies offered it.

You do not have to have E&O insurance to to mobile sigings, but many companies may not hirer you without it.

Also, as a real estate you do not have to join the Multiple Listing Service to buy and sell homes, but as a practical matter a high percentage of the agents do.

A title company could require a background check in a form acceptable to them. You ask what form, they say they will accept NNA form, they might accept others, but they will definitely accept NNA. What are you going to do? Send in one you bought from some local vendor and have them reject it?