Posted by 101livescan on 6/8/08 5:09pm
Msg #250453
Background Screening Signing Services & Their Principals
Every time I'm contacted by a signing service, they want to know a lot about me while historically, I've known very little about them. They want to know our DL#, SSN, EIN and how many loans we've signed, where we live, how long we've been a notary, and all our phone, fax and email information. These companies could be run by felons who couldn't even get a job at any fast food operation, because they would have to undergo a background check. I've decided, after being "stiffed" by companies like 11thhoursignings and Docuservusa, that I'm going to start doing a little background screening myself.
Folks we need to formulate as a herd, and move in a direction together of background screening these companies that POP up in the night and close down even faster than that once they've collected fees from title and escrow without paying the notary/loan signing agent for their work. Why should we have to wait 30-60-90 days to be paid, giving them time to bank roll the cash and leave down!
Company Questionnaire
Full Company Name (years in business, business license in what city, TAXID#, D&B Rating, corporate officers, who signs the checks, where company banks, etc.
Any convictions in the past 10 years?
Company Structure/Company Principals/Background Check Completed?
(Do principals own their own home, what is our recourse for non-payment?)
Email Address /website address
Phones (home, cell and business, nearest next of kin)
PHONE #s Day Evening Fax Cell
Company Address City State ZIP
Payment Address City State ZIP
Clientele References (3) of Title/Escrow/Lenders (Brick & Mortar and Elenders)
Who governs these companies, NO ONE! Not the SOS, Department of Corporations, City Licensing Division, no one entity. They pop up and disappear all over the place. And if you don't get paid, they can shut down the office in the night, bounce checks, disconnect phone, fax and email, where the heck are we....holding the bag, non payment, no recourse and of course you're out your time, gas money, energy and enthusiasm for this work. I think things are going to get a whole lot worse out there as far as carnage of signing services, and I certainly won't be signing up with any one for a fee! SMACKS OF DEATH AND DISASTER!
This is a time for us to formulate how we're going to grow our businesses when the market comes back, and it is going to come back...the housing market is still over valuated by 10-20%, from what I see every day at foreclosure auctions. No bidding so far on my inventory of daily sales. BUT, there is some movement of investors buying up foreclosed properties, and we need to be organized as a herd, with a common cause, and operate and function as a professional organization that proactively background checks the companies we so readily give up all our private information to without doing our own due diligence about them.
Feel free to use my template in screening companies you've never heard of, and Harry, what can we do about having companies fill out a profile, just like we do, before they can list themselves on this board? so that we're not a bunch of sitting ducks, opening ourselves up to getting ripped off. If any one has any thoughts about this methodology, I'm open to hearing how to put some teeth into "qualifying" these companies are reputable, rather than throwing a dart in the dark.
(Forgive me, I recently formed a strategic alliance with a lady who is a private investigator/attorney and performs background checks for a living. Even her gardener and maid are background checked!~this information should be mandatory before doing business with any one, especially where money is tendered!)
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