Posted by MARY on 10/9/04 7:44pm
Msg #9626

NON-LISCENSED CLOSERS IN MARYLAND

how do i do this without jeopardizing myself. i don't want any retaliation. JM CLOSINGS OWNER IS CLOSE FRIENDS WITH AREA MANAGER FOR AMERIQUEST. THAT'S WHY HE'S GETTING AWAY WITH IT AND THE TITLE COMPANY KNOWS TOO

Reply by J.L., CA on 10/10/04 7:04pm
Msg #9639

Thanks for the tip. Much appreciated. I just got started in the business and it's really disheartening to hear from so many notaries about so many signing companies that are so dishonest and who take advantage of hard working notaries who take their job seriously. The worst part is that they get away with it.

Reply by IGGY on 10/11/04 1:56pm
Msg #9658

If this really bothers you.
You can call the Maryland Insurance Administration.

Reply by Loretta Reed on 10/12/04 8:25am
Msg #9679

Hey Mary....
What did you decide to do? I will call the MIA if you do not want to. I thought about this over the weekend and these guys are not doing the right thing. I will call and tell on them.

Reply by MARY on 10/12/04 11:42am
Msg #9684

LORETTA THAT WILL BE GREAT. I REALLY DON'T WANT TO JEOPARDIZE MY WORK. DO YOU NEED ANY OTHER INFORMATION?

Reply by Loretta Reed on 10/12/04 4:03pm
Msg #9704

Please email me his name, company name, address and phone number. Also, if you have it, please send me the office that is allowing this to happen (i.e. Ameriquest in Towson, MD and who the broker may be)

Reply by mary on 10/12/04 6:39pm
Msg #9715

Johnathan Means
JM Closing Services Inc.
443-802-5669
Woodlawn, Maryland
No actual physical address
the Area Manager for Ameriquest is name Corey
JM Closings is the preferred closing for all Maryland Ameriquest Offices (Annapolis, Timonium, Greenbelt, Frederick, Catonsville, and Owings Mills)

Reply by MARY on 10/12/04 12:00pm
Msg #9686

I struggled with this for a while because I know a few of the people that work with JM Closings. But wrong is wrong. Johnathan Means is telling them that they don't need to be licensed. He is giving them mis-information so that he can get more business. I think in the end they will have more to lose than him.

Reply by Loretta Reed on 10/12/04 4:14pm
Msg #9705

I am wondering why it would jeopardize anything with your business if you turn this joker in?
You should not have any problem if you do not work for him now. Do you still do his closings?

Reply by mary on 10/12/04 6:19pm
Msg #9714

No, I don't do closings for him but I do still close for Ameriquest. He is friends with the Area Manager. All the Maryland Ameriquest offices use this company. In fact the Area Manager has told the loan officers to try to exclusively use this company. I have a few officers that will use me. The Area Manager has been known to blackball people if they don't agree with his tactics.

Reply by Art_MD on 10/13/04 8:51am
Msg #9746

I'm assuming these are 1st or 2nds. As I read the MIA ruling, a HELOC without any title insurance involved doesn't fall under the MIA licensing requirement.
Any comments??
Art

Reply by MARY on 10/13/04 9:40am
Msg #9750

THEY ARE REFINANCE LOANS THIS IS THE MARYLAND LAW
A title insurance agent is "a person [who], for compensation, solicits, procures or negotiates title insurance contracts" and includes "a person [who] provides escrow, closing, or settlement services that may result in issuance of a title insurance contract" (Annotated Code of Maryland Insurance Section 10-101). Before a person may act as a title insurance agent, he must obtain a Certificate of Qualification and an appointment from a title underwriter. Maryland has reciprocity with several states; therefore, a non-resident may obtain a Certificate of Qualification without complying with various requirements imposed upon residents
In order to obtain a Certificate of Qualification, sole proprietorships, limited liability companies, partnerships, and corporations shall provide evidence of a blanket fidelity bond covering all employees and a blanket surety bond or a letter of credit. Each bond or letter of credit must be in the amount of $100,000.

Reply by Art_MD on 10/13/04 9:46am
Msg #9751

I agree that if these are refi's then title insurance may be produced. Most helocs don't have title insurance involved. So why would a TPL be required?