Posted by Robbins on 5/14/05 2:41pm
Msg #37819

LSI and PES

Has anybody signed with either of these companies? LSI has approximately 30 pages in their application and practically want the shirt off your back.

PES has a clause in their agreement that you will be paid a fee for each closing that sucessfully closes and does not cancel, rescind or otherwise does not fund. In other words, if you print a set of 160 paged E-Docs, go and complete the siging and do whatever else that they want and lo and behold 3 days later the loan is recinded, you are out the whole amount. Do they really think that you will sign with them.

Just needed to sound off. Thanks.

Reply by ERNA_CA on 5/14/05 2:51pm
Msg #37823

I don't sign any of those contracts. The way I look at it we are independent contractors and work for whom ever calls us with an assignment and if an ss contracts us they are agreeing to pay us for a job done, not will pay if everything goes through. I send my w9 proof of commission and insurance, thats all they get out of me. And I get plenty of work. Just my opinion after reading those contracts, some are ridiculous.

Reply by CA in CA on 5/14/05 4:26pm
Msg #37831

I just did an LSI (yesterday) ... didn't seem too bad ... and I'm a newbie. We'll see how the payment thing works out

Reply by SamIam_CA on 5/16/05 10:43am
Msg #38017

I just got to page 10 of the LSI form where they specify two years of experience required :(

Reply by 10 years experience on 5/15/05 11:15am
Msg #37920

My recommendation to all is.... if you do not like thier contract... Do not sign it and dont take appts from these agencies. Be careful... just because you dont sign the contract but choose to take an assignment from the ss, you may be subject to getting paid on their terms or not being paid unless you sign it. THEREFORE, DO WORK FOR SERVICES WHO HAVE POLICIES THAT YOU DO NOT AGREE WITH. There are plenty of great companies out there.

For any signing service that has a clause that you will not be paid if the loan cancels, you should NEVER work for!

THE MORE NOTARIES WHO REFUSE TO SIGN FOR COMPANIES WHO HAVE THAT POLICY, EVENTUALLY THOSE COMPANIES WILL NO LONGER BE IN BUSINESS BECAUSE THEY WILL NOT HAVE ANY NOTARIES WHO WILL SIGN THEIR LOANS! IT IS PROVEN FACT.....

The Rule of thumb should be.....If you take an assignment and do a good job signing it.. We absolutely should be paid for it!

If the notary makes a mistake~ they should immediately fix it for FREE. If their are problems during the signing or the customer refuses to sign you should ALWAYS try to call the signing service, or have the customer call their MTG. BROKER. immediatley & discuss. (Often times it is a simple fisx and the signing continues)

If the customer chooses to cancel their loan~ the notary should ALWAYS be paid for their services. This had nothing to do with the serivces the notary provided.

LSI really undercuts the notary!
PS.. WHAT COMPANY IS PES?

Reply by Paul_IL on 5/15/05 7:35pm
Msg #37978

You cannot be talking about LSI in PA as they are a great company, pays on time and no baby sitting. Now LSI in CA is a different story as they are the typical $50 company.

Reply by CarolynCO on 8/16/05 4:35pm
Msg #59474

Re: LSI

LSI in California (area code 949) just called wanting to know if I was able to accept e-docs, the counties I covered and my rates. I asked if they were a TC or a SS. She said TC so I quoted my TC rates.

Paul_IL you are right -- their TC rates are less than I accept from SS's. She couldn't get me off the phone fast enough!