Posted by MaggieMae_CA on 6/21/05 8:02pm
Msg #46637

Homefield Financial - Notaries Beware

On May 27 I received a call from Ann Quach of Homefield Financial. She was desperate for a notary to do a first and second that evening on a purchase. Several phone calls and her attempting to "babysit" me later I printed out volumes of docs and went to the closing.

The end of last week I just didn't feel right about the situation and started calling her to see when I could expect payment. Can't tell you how many times she hung up on me without acknowledging me. She never returned my phone calls and I was getting really steamed because she wasn't calling me back.

This afternoon I finally spoke w/her supervisor who said Ann was no longer with Homefield and was now with First Haven (a sister company). I explained the situation to him and he said the loan never funded. I asked about my fee for doing the signing and he said "You're like any other notary, if the loan doesn't fund, you don't get paid." I did bring up the fact that the appraiser was paid even thou the deal fell through, and he said "Of course, the borrowers pay the appraiser."

Hmmmmmmmmm, I thought I remember seeing a zillion times the notary fee listed on the HUD as an expense that the borrowers pay. Maybe I need to have my eyesight checked?

I nicely told him that other companies pay their notaries even when the loan doesn't fund. I also reminded him that this deal was a purchase and there was no 3 day recission on it. (Earlier in the conversation he told me the borrowers recinded).

Not complaining or whining here about the situation. Just posting this online so if others search Homefield Financial - First Haven or Ann Quach, they may see this and think twice before accepting an assignment.

Time to do something constructive here, getting the BBB and the Banking Commissioner addresses out to write them a scenario of the transaction and file a complaint. I think the Banking Commissioner might find it interesting that the borrowers were coerced into siging two loans even though they told Homefield Financial they didn't have the funds for the balance of the transaction.

I love sending letters Certified Mail - Return Receipt Requested. Warms my soul!

Reply by Anonymous on 6/21/05 8:12pm
Msg #46648

Good Luck Maggie ! This kind of thing is the bane of our profession. It seems to me the only way to guard against it is to only do business with Co's. that agree (in writing) to pay for your services regardless of whether the loan funds or not.

Reply by MaggieMae_CA on 6/21/05 8:17pm
Msg #46650

I'm not even looking to get paid. What burns me is how unprofessional these people are. Out of common courtesy you should call people back. As soon as this woman heard my distinctive "Joisey tang" on the phone she hung up and wouldn't acknowledge me.

My hubby always says, don't get mad, get even. Hence, my letters will be sent out tomorrow.

Reply by Anonymous on 6/21/05 8:24pm
Msg #46654

Pay Back's a ...

B i itch... And it sucks that some Co's operate like that.. But almost nothing is as powerfull as righteous anger. Stand up to these slime bags! Go get 'em girlfriend.

Reply by DonnanorthernCA on 6/21/05 8:14pm
Msg #46649

Thanks for the warning, and you are right. I bet he gets paid whether or not loans fund, and perhaps you might want to check with the borrowers, just for the heck of it. I am sure that if they paid for your fee and someone is trying to rip you off , that the borrowers wouldn't appreciate it either.

Reply by BG on 6/21/05 8:22pm
Msg #46652

I do a lot of work for a company that does not pay me if it does not fund. But I have to tell you the good outweighs the bad. If it rescinds usually because the borrower has a gripe with the lender and that usually gets taken care of. So you go out again and the company that hired me compensates me for the second signing plus an additional amount. They also pay me top dollar and pay me at funding. For me, this is worth it.

Reply by MaggieMae_CA on 6/21/05 8:27pm
Msg #46655

BG...

I have another company I work with as you have described. Yes, it is worth it. The few times that the a closing has cancelled or hasn't funded. They called and were upfront about it. The next signing in my area always comes to me and an additional amount gets tacked on. I've never posted anything negative about that company because the good does outweigh the bad.

I'll only post something negative about a company if they have truly acted unprofessionally. This is the case here.

Reply by BG on 6/21/05 8:31pm
Msg #46659

Re: BG...

Yes, I agree with you 100%. That company is less than dirt. I am holding my breath concerning payment for several closings from one company. You know they are nicer and sweet talk me with promises. Wish I could take that to the bank.

Reply by Melody on 6/21/05 9:11pm
Msg #46674

Check with courthouse to see if loan funded

If it funded, he lied. You should be paid.

Take the jerk to small claims court.

Reply by ItsMe123 on 6/21/05 11:40pm
Msg #46699

If it was a purchase, there is one relationship a LO values

First call Homefield and advise them you are going to talk to the relator on the deal to see if the loan did fund. Listen to them spin. Hang up. Call the relator on the deal. Relay how much you enjoyed assisting their customer with purchasing their home and just how happy the customer was with the realtor. In fact, they were so happy you are going to be sure to refer any looking for a house to thr RE shop and you do see many closing so many loans---homeowners are the people who buy houses. Ask them to mail you some of their business cards so you can have them on hand for potential clients you would like to refer to them. Then go in for the kill-------asked if the loan funded ---------Sweet silent revenge-----Homefield won't get any more deals out of there, nothing, nada, zip. Any files the shop has wroking they will pull--they do not want that type of talk, it kills their business. No RE shop wants talk of misallocated funds and their name in it. Make sure you also speak to the broker of the RE shop. Tell him/her how third party vendors are very cautious to put out services in good faith and then not get paid. This sort of thing soils everyone involved in the relationship and vendors do talk. Tell them you know they can't do anything your pay but after talking with those in your network you are curious to know just how may other canor do you hold them accountable as they are not responsible. Once again praise their good work with the customer--mention referrals again and hang up. Next call escrow---Purchase business is all about relationships for lenders---kill their relatioshipsand then MAKE SURE to call Homefield and mention the call to the relator.

Reply by Forest Sisemore on 6/22/05 1:16am
Msg #46711

Re: If it was a purchase, there is one relationship a LO val

You're an evil genious.... I like it

Reply by CaliNotary on 6/22/05 2:44am
Msg #46720

Re: If it was a purchase, there is one relationship a LO val

OK, I'm trying to wrap my brain around this one and just can't. Why will asking the realtor if the loan funded result in Homefield not getting any more deals out of them and all their loans pulled?