Posted by GA/Atty on 2/9/09 10:54pm
Msg #276983

Provident Funding Associates (TC = First American Title)

Anyone here do these signings, where instructions say to fax back EVERY page of the package?

Does anyone actually do that?

Reply by pan/nd on 2/9/09 11:23pm
Msg #276985

I wouldn't-no way-I'd toss it back to 'em-don't need it n/m

Reply by Larry/Ca on 2/9/09 11:27pm
Msg #276986

Yep, I faxed back.....

everything, they say they will pay you extra for this. It's easier than faxing back selected documents. Put the whole pile on the faxer and hit go.

Reply by Bill Paul on 2/10/09 7:14am
Msg #276995

I wouldn't fax back every page n/m

Reply by MistarellaFL on 2/10/09 8:24am
Msg #277003

You guys are nuts

Scan back.
Scan back.
Scan back.

Reply by GA/Atty on 2/10/09 8:45am
Msg #277007

Even scanning EVERY page goes beyond reasonable n/m

Reply by MistarellaFL on 2/10/09 9:11am
Msg #277010

It's only unreasonable if you don't

charge appropriately.
It takes me less than 5 minutes to scan and email a complete package.
It's become quite common (and profitable) for me in these days of same-day funding.

Reply by GA/Atty on 2/10/09 9:25am
Msg #277014

I think it's unreasonable to scan back even 1 unsigned page n/m

Reply by MistarellaFL on 2/10/09 9:50am
Msg #277016

Well, you asked

<<<Does anyone actually do that?>>>

I do, don't mind doing it, and have increased my revenue and client based because of it.

Reply by Les_CO on 2/10/09 9:56am
Msg #277017

Re: I think it's unreasonable to scan back even 1 unsigned page

I would scan back every page! No one ever accused Provident Funding of being reasonable. The TC is just going ‘due diligence’ in their QC. I would suggest in future you just say no to a Provident loan. I’ve done them in the past, and I’m very careful. I now say no unless I get a double fee. But just to give you an example. Suppose the borrower, and spouse sign one of their junk docs. The borrower signs and dates, however the spouse does not date, or gets the date wrong. You catch this when faxing, now me as just a notary can’t just print in the date for the spouse…I have to make another trip and have her do it. If you don’t catch this error, and Title doesn’t catch it, Provident won’t fund, they re-draw, and charge for the new docs, and if the borrowers lock expires?…..someone is going to pay. Dust off your liability insurance.

Reply by GA/Atty on 2/10/09 10:51am
Msg #277041

I understand that, but why unsigned & uninitialed pages? n/m

Reply by MistarellaFL on 2/10/09 10:54am
Msg #277042

Re: I understand that, but why unsigned & uninitialed pages?

Who cares? Why care?
If your client is paying for a service, who cares why?

Reply by Les_CO on 2/10/09 11:32am
Msg #277051

Re: I understand that, but why unsigned & uninitialed pages?

First let me say that I totally agree with your position about unsigned, or uninitialed, or unaltered documents. However Title Companies and Lenders have been known to misplace a page here and there. On a Provident loan I would not only keep a copy of all the docs, I’d keep a copy of the executed/faxed package. (Depending on how you fax…I scan in…save…then fax) at least until the loan funds. Provident has been known to actively go after Notaries that make mistakes, and try and recover any re-draw costs. (Usually Title pays, just ‘cause it’s easier) We are not talking ‘reasonable’ here. Is it reasonable to require $500K E&O insurance, when it’s not even available to Notaries in most States? You (or the borrower) can change nothing on the docs. If the borrowers address is somehow transposed…too bad. Don’t change it. If the borrower balks? Well… tough. If his Social Security number is incorrect…ditto. On a normal signing, when I’m finished I say: “Okay guys we’re done! I just need a minute to go over this stuff and double check.” On a Provident I do this on every page. I usually get the borrower to sign and initial every page of the Note, and the DOT. Instructed to or not. On a Provident loan you must read, re-read, and follow the instructions exactly. I have a friend that has a SS. She has one million dollars in liability insurance. She is, and thereby notaries she contracts with, have been ‘approved’ by Provident. She only has one Title Co that does Provident loans. She calls me with one, I say please call someone else. One, because I don’t charge her more, and two, I don’t like Providents business practices and don’t want to deal with them, and three, I don’t need the money that bad.

Reply by Joan_OH on 2/10/09 10:16pm
Msg #277133

I think it's because Notaries & Title Companies

don't follow instructions. One of the 8 instructions on a Provident loan is to ONLY initial and sign where indicated. Some notary's regular practice is to have every page not signed, initialed. Provident will bounce it and redraw if it's done incorrectly. On a purchase, I regularly fax back the entire package. Sure beats picking out this doc or that doc - just put it in the fax and fax the whole darn thing.

I am one of the few in my area that carries the appropriate E&O for Provident loans. With planning, they just aren't that difficult. All buyers I call before the appointment to verify paperwork, name spellings, property address, dob, ss - all the things that sometimes are wrong because if they are wrong on a Provident - redraw. Might as well find out if there's a mistake before everyone wastes their time.

While I was on vacation, one of my regular title companies had to use a local title company for a courtesy closing for a Provident due to my unavailability. Three redraws later, it finally got done. One of the EIGHT simple instructions that is on the very first page is no correction and intialing - call for a redraw. This other title company kept correcting and initialling.

So, I suspect the faxbacks are due to people regularly not reading instructions. Title gets dinged something like $300 for every redraw.

Joan-OH

Reply by Les_CO on 2/10/09 10:35pm
Msg #277136

Re: I think it's because Notaries & Title Companies

Now here's someone that knows whereof she speaks! I am continually amazed at the talent, and knowledge of the contributors to this board.

Reply by jba/fl on 2/10/09 7:17am
Msg #276998

Speaks of quality of notaries used in past? No way! n/m

Reply by Linda_H/FL on 2/10/09 7:51am
Msg #277000

And on top of this they want $500K E&O?? n/m

Reply by janCA on 2/10/09 9:14am
Msg #277013

If you were compensated well for this why wouldn't you?

Time is money, we all know that. Integrate the faxback fee into your signing fee. Companies want what they want. If they're upfront about the faxbacks, and I agree, many times you don't find out until you actually receive the confirmation; I always ask before I accept an assignment, then I just add an additional fee. They either accept or decline, just like I can do, accept or decline.

Reply by MistarellaFL on 2/10/09 10:12am
Msg #277023

Re: If you were compensated well for this why wouldn't you?

I agree.
We are service providers, and this is just another service to add to the repertoire.

Thanks in advance to all the Florida signing agents who decline or don't/won't offer the service.

Reply by AIMM PARALEGAL SERVICES - Cari Rivera on 2/10/09 10:35am
Msg #277040

nope....

although I do work with a few SS that require a few fax backs, but only signature and notary pages...so not so much of an inconvenience....

Reply by jeannie on 2/10/09 12:12pm
Msg #277056

Do you charge extra and how much. Ihave hdt do this with no advance warning and had to fax the entire package. Rea waste of my time.

Reply by Linda_H/FL on 2/10/09 12:32pm
Msg #277060

My experience to date with ANY company requiring

full-package faxbacks is (1) I never find out under after the fact (when docs have been received) and (b) they always refuse to pay an additional fee for full package faxback even though my agreed fee is based on faxbacks of up to only 12-15 pages...I've never been able to get more money out of them for the full package...

On the other hand....I have been fortunate that, for the most part, most companies waive faxbacks for me when I tell them the package isn't coming home with me - it's being dropped immediately after signing...

Just my experience...

Reply by jba/fl on 2/10/09 9:37pm
Msg #277127

Re: My experience to date with ANY company requiring

"I have been fortunate that, for the most part, most companies waive faxbacks for me when I tell them the package isn't coming home with me - it's being dropped immediately after signing..."

Must remember this line, must remember...