the mortgage industry as a whole is trying to save and scrimp wherever they can. My viewpoint is that they want more of the entire pie. This is America. A capitalistic society. Escrow officers acting as a notary also saves money. Have all your escrow officers get a notary commission, and forget outside notaries. Believe me, many would like to do just that.
The problems title companies are having with unqualified stumbler (stupid) notaries makes them rather crazy. Case in point: I closed a loan for a Bank Officer today (on her own house). She recounted the last hideous loan she had with a client. This notary woman arrives late, all flustered, and sat down and "discovered" that her 11 year old daughter "forgot" to put the loan documents in her briefcase for her. She immediately clambered out of the office and after waiting 45 minutes, the LO and the client were both fuming. On her return, when the LO mentioned this was a security breach by having some other party handling loan papers, this woman said "Oh that's no big deal, she handles these for me all the time."
Needless to say, a complaint was filed, and the notary is NOT doing any more loans for the entire bank network. This is the problem we professionals face. We ALL get painted with the same brush - we all are percieved to be morons. Well, we're not, but with these idiots out there, blundering about, who know NOTHING, this is what has happened. As the Orange Man would say, "Sad." |
