Posted by Cheryl Elliott on 12/8/03 1:17pm
Msg #386

Instafi.com bad debt

A lot of us are owed money for closings performed for instafi.com in Irvine, CA. My outstanding invoices amount to only $225. Some of you are owed more than this.
The Orange County District Attorney's office will investigate major financial crime in excess of $100,000. May I hear from those of you are still have not been successful in getting paid by instafi, and for what amount are you owed.

http://www.ocgov.com/da/resource%20directory/economic%20crimes.htm

Reply by Anonymous on 12/8/03 2:12pm
Msg #390

I just called them about a $55 invoice from 11/3/03 and Vincent Sexton said they are 60 days behind. I didn't say anymore to him about what I've heard and will be on the case. I do have the settlement statement from the closing and will be sending one of my "legal action" letters.

Reply by Anonymous on 12/8/03 2:55pm
Msg #392

where can i get a copy of that legal action letter

Reply by Cheryl SB/CA on 12/8/03 7:40pm
Msg #396

Re: Instafi.com bad debt COLLECTION LETTER

To: California Secretary of State Fax: 916-653-9580
From: Best Notary Public Date: April 10, 2003
Re: Complaint – Possible Fraud Pages: 2
CC: State of California Department of Real Estate
Owner, LOSER Loan Company.com.

¨ Urgent
¨ For Review
¨ Please Comment
¨ lease Reply
¨ Please Recycle


To Whom It May Concern:
The purpose of this fax is to bring to your attention a potential fraud perpetuated against me by a direct mortgage lender based out of __________, California.

As a Notary Public/Certified Loan Signing Agent in the State of California, I was contacted by ______________ @ LOSER Loan Docs, Inc., (Address, City State and Zip and Telephone/Fax Numbers in February 2003 to complete three re-finance loan signings with XYZ Title (EO Name) , Pleasanton, CA, Ameriscrew Mortgage Company (EO Name), Oxnard, CA; and New Ameriscrew Financial/ Newport Real Estate (EO Name), Newport Beach, CA.


The fee to be paid to me for these services was a total of $275.00 (breakdown below).

Lender Borrower File No Fee Due Date Signed
Ameriscrew Finance 8495 125 19-Feb
XYZTitle 8398 75 8-Feb
New Ameriscrew Finance 8342 75 9-Feb


I completed the work as agreed. The signings were completed and based on the signing the loans funded, which I have confirmed with all borrowers. It is my understanding that according to federal and state laws, the funds and disbursement of fees scheduled for disbursement must be paid.

To date, after numerous phone calls, and faxes, I have not been paid by LOSER LOAN DOC SERVICE, although the loan has been funded by the lender, according to the borrowers.

I know you are not a collection agency. The purpose of this fax is to satisfy the question raised in my mind after reading numerous messages on a Notary Public message board about LOSER Loan Docs Inc. contracting Notaries Public throughout CA to complete refinance loan document signings and not making payment of fees to their notaries. It would appear to me to minimally be a violation of banking/notary public law within the state they conduct business, a violation of banking law to the title/escrow company which hired them if there were no intention of paying the fee while charging the borrower for the fee. Additionally, there is a possibility of violation of federal laws regarding the interstate use of phones/faxes to contract banking business.

I will, in fact, be turning over to Dun & Bradstreet Small Business Solutions the matter of collection. It is my hope that your agency will check out the legitimacy of this company, and if they are in fact perpetuating any kind of fraud on Notaries Public, and/or borrowers, in the charging of fees without intention of paying fees, that you will take the appropriate action. Meanwhile, I have already begun my own collection efforts through the _____________ County Small Claims Court to collect these sums.

My contact numbers _________________ (cell) ____________ (off) e-mail:
_____________________________________________.

Thank you for your immediate attention.

Cordially,
BEST SIGNING AGENT TRI COUNTIES, California notary Commission 13XXXXXXX

Reply by Anonymous on 12/9/03 1:12am
Msg #398

Good luck and get ready for the runaround. They have owed my $150.57 since Sept. 3, 2003... Dun and Bradstreet will be my next option unless Cheryl has some luck with Small Claims.

Reply by Jim Coffey on 12/14/03 6:04pm
Msg #426

We are creating a collection agency for signers due fees from signing agencies, title companies, escrow companies. There is a need for this service and we aim to fill that need. Since we are already a signing agency, we are well aware of the faults of some of these agencies, and we aim to help signers everywhere.

Please inquire to [e-mail address]