Posted by PegiT_MN on 5/21/13 10:55am
Msg #470720

LSI

I used to get a lot of calls from LSI for closings, but for the past month or so the calls have really slowed down. The schedulers tell me they are really slow. I keep hearing rumors of lawsuits though. Should I be worried about taking signings from them? I have always enjoyed working for them, but it makes me nervous hearing about this. I would hate to do a bunch of signings for a company and have them go under.

Reply by DC001/MD on 5/21/13 11:03am
Msg #470723

I haven't been receiving many calls from them lately either. I haven't heard anything about lawsuits though

Reply by Sha/CA on 5/21/13 11:06am
Msg #470724

Re: LSI called today. Could barely understand what was said.

I declined.

Reply by jba/fl on 5/21/13 11:31am
Msg #470728

Re: LSIhen

I don't work for them so I don't know much about them. I can only tell you how I make my decision with a company that has a big "IF" about their reputation. I ask myself, can I afford to do this job or a couple of jobs for them and not get paid timely. Can I afford to write it off, including my gas, tolls, paper, toner,and so on.

It is a split decision made in a split second or two - only you can answer your questions. When I hear rumblings, I usually slow it down or just quit a particular company. It saved me from Lender's First Choice, and a couple of others. I know this is cautious, but I am older now and just not in the mood to be too accommodating any more.

Reply by PegiT_MN on 5/21/13 11:35am
Msg #470734

Re: LSIhen

That is good advice.....thank you.

Reply by pat/WA on 5/21/13 11:39am
Msg #470744

I work for them all the time and am paid on time.

Reply by Agent/CA on 5/21/13 1:12pm
Msg #470768

Among my favorites to work with and always direct deposited promptly into the bank like clockwork!

Reply by Roger_OH on 5/21/13 1:26pm
Msg #470773

I do a bunch with LSI for at least 5 lenders. Love the direct deposit!

Reply by FeliseSoCal on 5/21/13 3:07pm
Msg #470791

I have been getting less calls from them than usual, but have never had a problem getting paid.

Reply by titleme2nc on 5/21/13 4:14pm
Msg #470798

I have never had a problem with them or heard anything about a Law suit. I have worked for them about 5 years and have never had a problem getting paid. Now with direct deposit, it’s even better. The only time that I find them not calling is when they have a notary that has signed up for less pay and when I had tried to raise my fees, the calls stopped. Now I am keeping my fees at $XXX and when they are calling, I am staying busy. Because that I am keeping my fee on the lower side of what I would like, I will only take the closings that are within a close proximity of my office and work with the lenders that I know have the smaller packages, which helps to keep my cost down while keeping the calls coming in, so that I have 1st choice on each closing with them. I was even lucky the other week to get a call for a closing that was 8 miles from me for 1 primary refi and 9 investment properties; each one was the same regular fee, no dickering over the cost. All completed at 1 setting without fax backs. :-)

Reply by CopperheadVA on 5/21/13 6:05pm
Msg #470822

Here is a link to the lawsuit info:

http://www.americanbanker.com/issues/178_22/lender-processing-services-pays-127-million-to-settle-robosigning-1056358-1.html

I agree - LSI is my lowest paying client and I have certain perameters in which I will accept jobs with them. I keep it local and I always ask who the lender is because some lenders they deal with I refuse to sign their loans (Nationstar, Freedom Mortgage and Third Federal - all due to late doc issues). The lower fee they pay is not worth the hassle when dealing with those lenders.

Reply by jnew on 5/21/13 11:08pm
Msg #470843

What you all need to keep in mind is that the lawsuit was for the robo-signing scandal several years ago and had nothing to do with LSI. LPS, the entity being sued, owns LSI as well as several other companies. LSI is a well run company and has not been sued to my knowledge.

Reply by lindab on 5/21/13 9:18pm
Msg #470836

I personally love working for LSI. They are one of my biggest clients and I have never had a problem with fees or getting paid on time.

Reply by Linda_H/FL on 5/22/13 9:13am
Msg #470866

Re: LSI....Ditto lindab n/m