Posted by Traci/MD on 4/8/06 9:58am
Msg #112143
MD --LTP
What do you think MD should do about Companies using notaries without license? How often do you explain the MD law? How many notaries are working illegal?
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Reply by JD/MD on 4/8/06 10:07am
Msg #112148
"How many notaries are working illegal? "
Put in your zip code with a radius of 50 miles either here or 123 and look at how many non-LTP's advertise their availability and state how many hundreds of loans they have done. I was told by a couple of SS's that they do not need LTP's for HELOCS because, they claim, no title insurance is sold. That may be true I dont know, but obviously they are using non-LTP's for re-fi's.
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Reply by Beth/MD on 4/8/06 10:15am
Msg #112155
Re: MD --LTP--JD/MD
Just because someone doesn't list an LTP doesn't mean they're working without it. That's a broad assumption. I hope you're not hurting there businesses by stating such to TCs that call you?
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Reply by JD/MD on 4/8/06 10:24am
Msg #112159
Re: MD --LTP--JD/MD
"Just because someone doesn't list an LTP doesn't mean they're working without it. That's a broad assumption. I hope you're not hurting there businesses by stating such to TCs that call you?"
I understand that. I also know how to go to the MIA site and look up a person's name.
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Reply by Beth/MD on 4/8/06 10:27am
Msg #112161
Re: MD --LTP--JD/MD
I'm sure we all know about using the MIA site. That's what we need to tell companies that don't think they need an LTP to do. However, the sad truth is, if the state of MD doesn't care, SS and TC won't care either.
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Reply by JD/MD on 4/8/06 10:31am
Msg #112162
Re: MD --LTP--JD/MD
"However, the sad truth is, if the state of MD doesn't care, SS and TC won't care either."
I agree 100%
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Reply by Loretta Reed on 4/8/06 10:33am
Msg #112164
Re: MD --LTP--JD/MD
I think what we all are trying to say, we have said it a thousand times, there are people in MD that are doing refinance closings and are not licensed. I go to the MIA website and look up their name, if it is not there than at least I know who I am dealing with. I have a relationship with over 40 title companies because of my title business, just in MD, and if I can't do a closing for them, I am happy to refer someone to them that I know is licensed and steer them away from who is not.
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Reply by LilyMD on 4/8/06 10:07am
Msg #112149
I know of several companies who have asked me..."we don't need anything more than just a regular notary so can you accept a lower fee?"
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Reply by LilyMD on 4/8/06 10:08am
Msg #112152
Re: I don't have LTP listed in my profile. n/m
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Reply by BP/WV on 4/8/06 10:44am
Msg #112165
I know MD is a LTP state. Did MD start enforcing a LTP within the past 2 years, or has it always been required? When I lived there and worked for Beneficial in 1996 to 2003, it was either not required, or we were never aware of it.
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Reply by Beth/MD on 4/8/06 10:57am
Msg #112171
I don't think Beneficial considers it necessary because of the "in house" signings.
I know of one Eastern shore notary that does signings with the broker on the phone so she's not the only one "presenting the docs" to the borrower. How's that for ridiculous?
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Reply by JD/MD on 4/8/06 11:12am
Msg #112175
"I know MD is a LTP state. Did MD start enforcing a LTP within the past 2 years, or has it always been required? When I lived there and worked for Beneficial in 1996 to 2003, it was either not required, or we were never aware of it."
Maryland passed the 1995 Reform of Title Insurance Law which expanded licensing requirements for settlement services. The purpose of the law enacted in 1995 as House Bill 1243 is to protect the consumers of Maryland and requires any person that provides escrow, closing, or settlement services that may result in title insurance to have the appropriate license issued by the administration. This information was provided to me by my state senator when I requested clarification on the licensing requirments.
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Reply by Traci/MD on 4/8/06 12:32pm
Msg #112189
Re: How do we fix this mess?
I'm working today. I had to leave.
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Reply by BP/WV on 4/8/06 2:06pm
Msg #112205
Re: How do we fix this mess? JMHO
Someone should report them. That is, if you can prove they are closing loans without a being a LTP. After all, they are breaking the law. You have the same problem we have here. I know of several notaries in my area that are closing loans without being under the supervision of an attorney. I have reported two individuals to the Attorney Generals office here in WV. The hard part is getting the proof that the individuals are acting illegally. You have one good thing though; you have the online verification of LTP. I found proof just by going to the courthouse and checking county records.
What is the sense of having the law if no one is going to enforce it or report it?
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Reply by kkdmiddleton on 4/8/06 3:34pm
Msg #112212
I'm listed as a MD Notary, but I don't practice because
I don't have my LTP yet. Still working on it, but anytime I get a call I tell them I don't have one and they usually tell me to call them when I get it.
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Reply by Tina_MA on 4/9/06 11:15am
Msg #112339
Re: How do we fix this mess? JMHO
>>>Someone should report them. That is, if you can prove they are closing loans without a being a LTP. After all, they are breaking the law. You have the same problem we have here. I know of several notaries in my area that are closing loans without being under the supervision of an attorney. I have reported two individuals to the Attorney Generals office here in WV. The hard part is getting the proof that the individuals are acting illegally. You have one good thing though; you have the online verification of LTP. I found proof just by going to the courthouse and checking county records.
What is the sense of having the law if no one is going to enforce it or report it?<<<
I understand completely. I have the same problem here in MA. There are many notaries who are not employed by attorneys.
SS's perpetuate the problem by stating that because the property is located outside of MA, they don't need an attorney -- which is the stupidest thing I've ever heard. I guess they cannot get their small minds around the fact the the Governor of Massachusetts oversees *all notarizations completed within the boundaries of the Commonwealth*, no matter *where* the property is located.
In MA, notaries cannot notarize any Mortgages or Deeds (of any kind) unless they are employed by an attorney. But those small minded SS's continue to state that they do not have to follow the laws here. Amazing.
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Reply by Loretta Reed on 4/8/06 7:34pm
Msg #112265
Beneficial does require us to have a TPL. They still have low fees and you have to take them or leave them. The only thing I really do not like about them is the $20 trip fee if the borrowers do not sign. Other than that, I have been blessed to work for the office that really enforces that the loan officer go over all of the fees, monthly payment, interest rate and anything else of importance BEFORE the borrower comes in for closing.
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