Posted by coastal/CA on 6/27/08 4:54pm
Msg #253396

Odds are 2 out of 5 that LSI will pay you

... your contracted fee. 3 out of the last 5 signings I did for LSI were no-signs and I received only a trip fee. It may be difficult for notaries to provide "SUPERIOR levels of service" knowing their fee will be cut due to circumstances beyond their control.

LSI has had a good reputation for the 8 years I've worked with them. Today I received an emailed announcement that LSI sold off its division that hires notaries. It ended with this:

We are partnering with our Abstractor and Signing Agent network to support our corporate mission achieving SUPERIOR levels of service. Thank you for your continued support. Please call us directly if you have any questions.
Pamela Bunker
Vice President, National Vendor Management
949 622 4600

Reply by Lisa Marie Scherpf on 6/27/08 6:18pm
Msg #253407

That's odd... I have worked for LSI for years and have never, never rec'd anything except the agreed upon fee. Whether the loan closed, refused to sign or cancelled later. That includes the 15 or 20 loans I did over the past month. They have always paid me and roughly within 2-3 weeks. This has been the case for all the LSI offices. I also rec'd the same email and I just reread it. It does not say anywhere they are selling off the division that hires notaries. Basically the email says they are changing their name to better reflect their services.

LSI – Supplier Announcement
As a member of LSI’s premier network of Title Abstractors and Signing Agents, you have been a valued provider of services. LSI is the leader in Title and Settlement Services to the nation’s top mortgage lenders.
In October of 2007, Fidelity National Information Services, LSI’s parent company announced the spin-out of its lender processing services division. The transaction is scheduled to be completed by June 30, 2008. At that time, the company will discontinue use of the name “Fidelity” and formally adopt the new corporate name - Lender Processing Services (LPS). This new name more accurately reflects the company’s charter and market focus.
The day-to-day interactions you have with LSI will not change. LPS and LSI will maintain the same executive management and leadership team. All of the products, services, technology, scalability and national coverage that have come to define LSI will not be impacted in any way due to this restructure. Our commitment to understanding and executing in conjunction with the needs of our customers has always been and will continue to be our primary mission at LSI

Reply by MikeC/NY on 6/27/08 6:20pm
Msg #253408

"our corporate mission achieving SUPERIOR levels of service"

Unfortunately, those SUPERIOR levels of service refer to what they hope to provide to their clients, not to their vendors...

Reply by Laura Vestanen on 6/27/08 8:16pm
Msg #253428

LSI east coast always treated me well when I accepted loan work from TCs.

LSI west coast were always jerks.

I have heard that LSI have sent all subcontractor management to the west coast. If that is true, then Notary Beware.

LSI west coast are scum. Demand decent fees and get everything in writing.

Reply by Lisa Marie Scherpf on 6/28/08 12:20pm
Msg #253494

As I said, yesterday, all three offices of LSI were great to work for. I have never found LSI West employees to be jerks. The only difference between East, West and North was that for West you had to email them with confirmed appt time with the borrower. But, LSI West was closed and now all signing they hired for are being done by LSI North.