Posted by LKT/CA on 5/27/13 11:44am
Msg #471386

Regulating SSs....Another Approach

In reference to the discussion about Accurate National Signings and CHANGE.org (471355 & 471324), my thoughts are that instead of trying to get SS regulated, which probably won't happen...notaries should go after TCs as to what needs changing in the industry and bombard THEM with the notion that THEY are contracting with unregulated, unlicensed, non-background, unethical individuals and THEY need to vet these SSs. The TCs should not only require proof that the SS is licensed, background checked, supplied a credit report, insured and bonded, but more importantly - require that SSs supply references from NOTARIES - and proof that those notaries did, in fact, subcontract with them.

Every TC each of us works with, or those TCs listed on the HUD (when we're subcontracted thru an SS) should be contacted and given the information about ANS and all other deadbeats....and told that THIS is why the TCs need to step up to the plate and vet their contractors. The TCs already have the BOs info so they can connect notary with BO....this way, the SS cannot create fake testimonials and "straw notaries" just to provide glowing referrals. The chances are slim and none that SSs will be regulated. But TCs can require that SSs must provide A, B, C, & D before they will work with them.

Reply by sueharke on 5/27/13 11:51am
Msg #471387

Much like the well know marketing plan of IBM to sell their selectric typewriters in the 1960's. IBM marketed the product to secretaries, not companies. Secretaries told their boss what they want and the sales of the typewriters were high. I don't see how this approach would not work with your plan.

Reply by desktopfull on 5/27/13 12:31pm
Msg #471388

This is a much better approach than involving government which does nothing more than increase our costs and ignore the regulations that they pass.

Reply by Notarysigner on 5/27/13 12:57pm
Msg #471391

I think the TC mindset is they are just hiring a telemarker to find them a notary nothing more. It is the telemarketer who is taking advantage of this be calling themselves a signing service. They have no "product" other then making a phone call.
If the SS doesn't find a notary it is the TC who finds one not the other way around.
I say no regulations, agree with LKT.

Reply by GOLDGIRL/CA on 5/27/13 3:27pm
Msg #471393

Excellent post, LKT ...

.... and something to think about. My impression is, tho, that TCs don't give a hoot about notaries, whether they get paid or not, whether they do a professional job or not, and especially what they think. They just want the job done for their lenders and they dump it in the lap of the nearest, handiest SS... and they don't much give a hoot about the SS either, as long as the job gets done. If it doesn't, they go to another SS.

In CA, TCs are regulated by the Dept. of Insurance, and if the DOI has any policies on borrower privacy, that might be a way in. It would take the DOI ordering TCs to vet SSs and provide proof that they are meeting the same standards as the SOS sets for notary applicants and the same standards that the DOI expects of TCs... whatever they are. TCs care little about the ethics of SSs, as well, as far as I can tell. They don't much care about borrower privacy either as far as I can see. Only what they're forced to care about.

Additionally, TCs vary radically from state to state. Just cos we could get something going in CA doesn't mean it would have any impact on a mom'n'pop TC out of another state who might choose to use someone like Accurate or any other number of apparently corrupt outfits (judging by their rating in SC).

However, I still stick by my original observation formulated years ago and which I just posted again yesterday: It amazaes me beyond comprephension why SSs can have access to every drop of borrower personal info .... as well as expecting our personal info in the form of DLs, SocSec numbers, auto insurance, background checks ... and are completely unregulated, have not a stitch of oversight by anyone, can be opened and operated by any criminal (and are) ... but everybody else is put under the Snow White microscope. Makes no sense.

Reply by Les_CO on 5/27/13 10:22pm
Msg #471420

It’s very difficult to regulate morality, ethics, or character. All it takes to start/own/run a Title Company in most cases is someone bondable, someone with an insurance license, a cell phone, a PO Box, and an underwriter. JMO

Reply by Bip on 5/28/13 9:08am
Msg #471429

Unscrupulous SS's have got to be the slime of our industry. That is why so many CSA's are accepting under payment as well.
I have a couple of suggestions.
Pretty sure if they are not paying notaries, they will have bad credit..A credit report would be helpful.
And on this thread, we, as Notary CSA's can bond and formulate class actions taking a few down and putting them out to pasture , with fair warning enough for the rest to put to rest the idea of scamming the hard working notaries.

Reply by jnew on 5/28/13 2:03pm
Msg #471454

The word coming out now is that the Feds want the banks to tighten up their requirements with the title companies they work with. It is grist for the mill to be able to talk to the title companies who are placing work with shoddy signing services and remind them that a complaint to the new regulatory agency that devised this plan may hurt the title company. Something they don't like could run downhill and affect them. Then they actually would try to eliminate vendors who are cheating those they hire. US.