Posted by AngelNJ on 5/12/05 5:54am
Msg #37264

Universal Document Express

Hi All,

Has anybody had any experience with Universal Document Express?

Thank You

Reply by NotaryPa on 5/12/05 7:06am
Msg #37268

Yes, they pay in a timely manner and were friendly. However, the last signing I had with them was an Ameriquest email. I printed out the 300+ pages, went to the borrower's home in -7 degree weather with snow all over the place. I struggled to walk 2 blocks in the dark from the only place I could find to park my car. I knocked on the door with my teeth chattering, after falling TWICE to get to it! (the door) The borrower answered and said, "we called to cancel that loan". I trudged back to the car, called UDE who told me to call the loan officer at Ameriquest. He told me to stay in my car b/c he was going to talk them into signing and hed call me as soon as they agreed. (I'd still be sitting in my car frozen and mummified had I listened to him!)
Anyway, UDE only paid me 1/2 the amount for the signing, which was $50. I didn't think it was worth the aggravation for $50.
The other signings I did with them were all completed and I was paid the full amount.

Reply by PETER LUSBY on 5/12/05 9:01am
Msg #37274

NotaryPA wrote: "the last signing I had with them was an Ameriquest email"

My price list includes a note that says there is a $50 PIA surcharge for Ameriquest docs

Reply by NotaryPA on 5/12/05 9:24am
Msg #37277

Great idea! Do they agree to pay it?

Reply by PETER LUSBY on 5/12/05 9:27am
Msg #37279

Ameriquest

No. I just don't get any more requests to do their signings. Suits me fine!

Reply by Sylvia_FL on 5/12/05 11:47am
Msg #37324

The first time they called me, was a last minute, and they said they paid $150. I did the signing on September 23rd, and received the full payment on October 18th.


They called me for another one for October 16th, I let them know that Ameriquests are $150.
Went out there and borrowers refused to sign. I wasn't there long so I billed them $50 trip fee. I went back out again on October 18th, and borrowers signed. I billed them $150.
I did another one on October 18th, and billed $150. So the total they owed me was $350, they paid me a total of $225, so they have a balance of $125. I probably will never see it.

They still call me and I tell them I do not do Ameriquest loans. I will not work for a company who does not pay the notaries their fee. They knew my fee was $150 when I talked to them, before I did the signings. By hiring me, knowing this, they were agreeing to my fee.

Reply by SarahBeth_CA on 5/12/05 12:17pm
Msg #37334

Sylvia, what reason did they try and use as to why they did not pay the full fees owed?

Reply by Sylvia_FL on 5/12/05 8:30pm
Msg #37411

They didnt give a reason!

When I gave them my fees the person I spoke to said it as more than what they normally pay. But, as they went ahead and gave me the signings I assumed (never assume!!) that they would honour my fees.

Reply by Mary Ellen on 5/12/05 7:54am
Msg #37272

Yes, I've done a few signings for them - Ameriquest edocs. They've given me $100 then tried $75. They are about 120 pages long (x2 for the borrower too). I think they are under paying but when I have a day free, I accept them.

Reply by Chantillyn on 5/12/05 9:55am
Msg #37290

Yes, they are great to work for and they also pay on time which is always a plus. I have done several signings with them in the past month.

Reply by CaliNotary on 5/12/05 10:50am
Msg #37302

They are great to work for, but 90% of their business seems to be Ameriquest. Like another poster in this thread I now have a $50 surcharge for Ameriquest loans, so they pretty much never call me anymore. If you don't mind dealing with the typical Ameriquest BS I'd definitely say work for them.

Reply by SarahBeth_CA on 5/12/05 12:19pm
Msg #37336

What is the typical Ameriquest BS? I've heard grumbling about them but what is it that is such a pain? I'm asking because I don't know and would like to know before accepting any Ameriquests.

Reply by AD on 5/12/05 1:22pm
Msg #37349

I ditto SarahBeth////Re: Universal Document Express

Reply by Joan-OH on 5/12/05 2:46pm
Msg #37360

1. Lots of documents, 120+ pages when you finally get all the title docs.

2. Most of the time the loan is a 2 fixed/28 adjustable. At least half that time, the borrower has only been told it was fixed without anyone telling them it starts adjusting after 2 years. When the loan officer is called, they are told "OH don't worry about it. We'll refinance in 2 years and waive all the fees". Of course there's a 3 year prepayment penalty and when it comes down to it, there is NOTHING in writing saying the fees will be waived on a refinance or that prepayment will not apply. I have never seen one where the fees have been waived.

3. The LAST one I did - the borrower worked in the lending industry and was from out of town. He told me he didn't feel comfortable signing documents when he hadn't seen the GFE yet. - Yes, the GFE (Good Faith Estimate) is supposed to be sent out within 3 days of application.

After the last one, I decided the liability risk was not worth it. When the borrowers go belly up and a lawyer gets a hold of it, they aren't even going to know who the signing service is, but MY name is on the Mortgage. Any smart lawyer would throw out a wide net, including me.

4. The docs are relatively easy, just a lot of them. If you've done a half dozen of these, you can do them in your sleep.

Joan-OH

Reply by SarahBeth_CA on 5/12/05 2:51pm
Msg #37361

thanks for the info.. It sounds like the probability of borrowers not signing is pretty good. And since I prefer to complete the signing and get full fee that gives me something to think about...

Reply by CaliNotary on 5/12/05 5:49pm
Msg #37384

Good summary Joan. I would add a couple of things.

1. The loans are always edocs. It's very very rare to receive their docs more than 2 hours before the signing. It's very common for the docs to not be ready by the time of the appointment and they fully expect you to rearrange your schedule to accommodate them and are shocked if you're unable (or just don't want) to.

2. Most of the loan reps sound like they were recruited directly out of a college fraternity. It can feel like you're doing business with Jeff Spicoli if you have to talk to one on the phone.

3. Ethics? What are those?