Posted by TitleGalCA on 4/4/06 9:33pm
Msg #111058

Opinions, please..... and comments, TIA (not too long)

I've been re-reading Dee's post, and Accurate Signings response and it's made me ask a question I've always wondered about.

Here's the thing: in my position, I hear from all sorts of people regarding signings. I'm different, that is for sure. A Title Officer, Subdivision Consultant, a long-time Notary and self-employed part time, once a full time business owner catering to Builder/Developers. For all those who think I'm trying to impress, all that means is I'm old and have a lot of experience in this business.

I hear from very professional NSA's who follow instructions to the letter (here on NR), friends from my day-job....escrow assistants that want to make some extra money and just sort of wing it, and EO's that sit at a tract all weekend, making $1800 in two days (also winging it, from what I can tell) and those extra special notaries that have the trust of the escrow staff and have a steady stream of work.

When I question the above-mentioned, I get a much different take on the details of a signing...aka "sign-up" never "a closing".

I hear "never, ever explain the documents. Only introduce them, and instruct to sign where indicated". Or, Just Point And Sign. (nice, if you can get the work)

I hear "it doesn't matter about the color of ink. The Recorder accepts black and blue" (no mention of the lender). When I ask...what about the lender instructions, I get a blank look.

I hear "faxbacks? Huh?" and get a blank look. Same goes for the babysitting phone calls.

From the notaries who are the 'darlings' of the escrow personnel, and practically have an office in my building, they are loathe to talk to me at all...perhaps they read Notary Rotary.

Yet when I read posts here...especially by folks like Roger_OH, who defines the difference between a Signing Agent and a Notary...it just sort of contradicts what I see in real life.

Are those professional SA's here (NR) guilty of being stiff-necked, compulsive, anal-retentive notaries when just being a good notary and acceptably good SA's who serve the industry are JUST as good?

So, I just gotta ask the question because I get two messages, do you all really read these instructions and follow them to the letter? The only reason I ask is because the lender writes the same instructions...it just seems how well they are followed depends on the recipient. And truthfully, I don't see any downside to signing with blue ink when the instructions demand black...that DT records, regardless. I see TC staff just sort of flying by the seat of their pants...signing and stamping, and everything goes just fine! Then I catch up on NR and the message is totally different...."you must do it right or the earth will open up and swallow you whole".

Just trying to be clear in my own head. Sorry for the ramblings and truly appreciate your honest comments.

Reply by Bonnie_CO on 4/4/06 9:47pm
Msg #111063

Hey TitleGal!
I do read the instructions, there are certain things that I have learned to look for specifically in the instructions, such as ink color, some companies want every single page either signed or initialed and some only want them signed and initialed as indicated, some want the paperwork returned in a totally different order than it was rec'd in, and some want it just like it was rec'd.
There are so many variables in this business, with the number of different companies that we work for, that to NOT read instructions would pretty much be foolish, IMO.
I think the biggest reason for some of what you see on here is because we are beginning to get so many companies that say...If you don't sign in blue ink, we will deduct $25.00 etc. you know the drill.
Sometime we even get the ... "even if it's our screw up, we are going to deduct $$$ from your pay."
Sometimes the things we see border on the ridiculous! I don't know how good an answer this is, but it follows what I see around here.
Good question TG!

Reply by Ilona_OH on 4/4/06 9:57pm
Msg #111067

Sometimes the instructions are

so hidden in all the rest of the wordage that what they really want you do do is like finding a needle in that old haystack.
Case in point is tonights closing--about 27 pages into the pack written in really small print was a statement wanting blue ink on all the docs. I missed it until my eye just caught the word blue as I was regoing thru . Thank goodness for the BWR copies which we resigned with the blue and replaced with the black ink signed ones.
Why not put it in the front like most and make thier wishes known? The question of the age?
If the BWRS are in a hurry or you're running late or any number of things it is easier to miss these little trip ups.
Gotta love this job!

Reply by pan/nd on 4/4/06 11:19pm
Msg #111088

Re: Sometimes the instructions are

You hit on one of my pet peeves.

If you want the notary to do something, don't bury the instructions to him or her in small print in the middle of the package.

Put it in BIG BOLD LETTERS on a separate sheet at the beginning of the package. Some even do it on bright colored paper.

Supposedly TC's and SS's read these boards.

For those with ears to hear..let them hear. For those with eyes to see...let them see.

Don't give me that old line about about how it's my job to search out the instructions and tear the whole package apart to find out whether to have borrowers initial every page or use a certain color or ink--IF IT'S EVEN THERE AT ALL.

That's all well and good if I have only one signing to do. But more than likely that's not the case and it's e-docs to boot and overdue e-docs at that.

Come on..wise up. But maybe that's asking too much in this day and age.

Reply by TitleGalCA on 4/4/06 9:58pm
Msg #111068

Thanks Bonnie.

***There are so many variables in this business*** exactly why I (finally) asked the question. Like I said...seems like the compliance in the instructions depend on the recipient.

Thanks!!

Reply by Lee/AR on 4/4/06 10:19pm
Msg #111072

I, too, have been around about as long as dirt, tho' in different areas than you, TitleGal. Wish I could explain this (even to myself)--but I can't. The only explanation I have for requiring all the little meaningless details (blue/black/both! ink--exception where State specified, of course; initial each page or don't, etc., etc., etc.) is: CUZ THEY CAN. Only other possible explanation I can think of is that somewhere way down the food chain, blue ink makes it easier for the new girl fresh out of high school/college? to determine which really is the original. As far as stiff-necked etc. NSAs... nah, I don't think so. More than likely, we just don't want to give them a reason to get upset with us. For whatever this observation is worth: I've been doing this for twelve years (yes, you read that right) and this nonsense did NOT go on until the last 5 years or so. This time frame corresponds quite neatly with the boom in this field and the increased NNA advertising that we know so well.
I know that this brought an influx of people with no background whatsoever in any related field. I've read about the yellow paper used to print docs and the pretty glitter pens used to sign. Hence, the increase in Lender instructions. Other than this, I'm back to CUZ THEY CAN.

Reply by TitleGalCA on 4/4/06 10:48pm
Msg #111082

You said the very thing I thought...cuz they can!

Lol, I missed the glitter pen period. Hey, what's wrong with a bit of flash!!!

Also, A.R., speaking of dirt, it can be quite attractive. After all, Donald Trump can't get enough of it

Reply by PAW on 4/5/06 7:20am
Msg #111106

I don't think it's so much 'cuz they can', but more "cuz that's the way we've always done it." I started in this industry in a New York bank. People in the bank could not tell me why certain things were the way they were, only that it was they way they were taught to do it. It didn't matter if it was the best way, the right way or the wrong way, as the ends always seemed to justify the means. I was fortunate to be in a position to make changes to the "way things were done" simply because we were incorporating new technology and change was accepted in the name of "technology". But practices never change.

Reply by MichiganAl on 4/5/06 3:16am
Msg #111098

I can't believe you mentioned the glitter pen.

I was just telling a borrower about the glitter pen story earlier today. Too funny.

Lee, you make some great points. I really think that instead of stepping up the instructions, directions, requirements, calls, follow ups, threats, etc. that lenders/t.c.s/SS need to do a better job of finding quality signing agents and just sticking with them. Don't step up the babysitting, eliminate the ones that need it. I know, probably easier said then done.

And TitleGal, yes I always read the instructions. It can save a lot of grief. Even with my regular companies, I always take a look to make sure there aren't any special circumstances I need to know about. It takes 10 seconds. Something that seems so obvious and elementary to me, but apparently not to some.

Reply by Sherri_NWA on 4/4/06 11:22pm
Msg #111089

Dear Title,

I work in a legal department and with our company I record a lot of docs (plats, supplemental declarations & deeds, for the most part) in about 10 counties that I can think of off the top of my head right now in about 7 different states (we have been adding a lot of property lately). Most of the counties (state regulations) that I work with have requested blue ink because they can tell that they are not copies. Some of these states also have gone to letter size documents only and we have had to conform all of our contracts, deeds etc. Missouri and Arkansas for example, will impose an extra $25.00 fee for a non-letter size documents. They also have strict top front page margins and bottom last page margins for recording stamp purposes. I know I am off the topic here and most people might not care about any of this. If I get slammed, so what. I have broad shoulders, I can handle it, lol.

So back to the blue/black ink issue, I prefer blue because I know a document will not get kicked back because of the "not knowing if it's a copy or not" issue. I will use black ink if the instructions state it though. I do read them. LOL.

~Sherri

Reply by Brenda Stone on 4/5/06 3:55am
Msg #111099

The title co office I am familiar with in Houston does pretty much a carbon copy of my chatter.

The only thing is the EO in that office knows more Spanish. If they would have fixed me a quart of margueritas (sp?) and sat is on the table for me at or around 2 pm, I would have been able to speak a lot more spanish by 8:30 pm....does liquor affect everyone that way, or am I one of the few here who gets more than absolutely stunning and twice as brilliant when I drink...not to mention I will tell you any and everything you want to know (and much that you do not want to know).

Apparently, this runs in our family. My church-piano-playing-mother had a drink at a MaryKay party I hosted a few years back. We had wine, I think. To my shock and amazement out of the blue, my gray-haired mother said, "One drink and I can feel it. Two drinks and anyone can."

I was entirely thrilled with that remark. It was more than I could have ever hoped for.

Reply by Sherri_NWA on 4/5/06 10:22am
Msg #111176

Brenda Stone

Three drinks and you would have heard (and seen) more than you would have wanted to know! LOL!

~Sherri

Reply by BrendaTx on 4/6/06 11:06am
Msg #111538

Re: Brenda... Sherri NWA - (:>) Exactly!! n/m

Reply by Renee Kovacs on 4/5/06 6:29am
Msg #111103

Re: Opinion, you're welcome, and this IS long =)

Ok ... I'm freshly caffeinated and ready to roll =)

To recap my background/frame of reference, I was Closing/Funding manager, Mid-west region office, wholesale lender. Back in the day, we funded 50 mil/month, did about 80 closings/day and as many post-close audits, dealt direct w/ legal, compliance & secondary, had 600-odd title agents and even more mtg brokers active. This gave me a HUGE 'cross-section' of experience with what closers/SA's do, how they do it, and what happens as a result.

If I could get only one, single point across to SA's (especially some of the ones you're referencing, TG!) it would be this: There is almost zero feedback from a lender to a SA. I personally handled over 10,000 closed/funded loans - and do not recall EVER speaking to a mobile S/A other than the rare calls from them re: print issues.

What I see in the S/A world is that an assumption of being/doing 'right' is made, based on that LACK of feedback. Instead of assuming yourself to be "error-free" (in the absence of feedback), assume ONLY that there was never anyone THAT ticked-off or frustrated that they got in touch with you. In fact, I'd go so far as to say assume you HAVE missed a signature, miss-dated something, forgot a stamp, etc. Perhaps 1 in 10 pkgs come back picture-perfect, regardless of who closes them.

The fact is, there just isn't time to waste. Like Accurate posted - the world revolves around the investor - and the loan is costing you money every day it's NOT in a bulk rack waiting for that secondary sale.

The lender's Closing Instructions are a binding contract between lender and settlement agent. The lender says "I want it this way" based on law, and investor's whims and the settlement agent is INSURING that those requirements will be met. If they're not, then the lender can/will enforce the contract.

For every signature missed, page not initialed, whatever - the first question is: Can I sell this loan as-is? Yes? Move on ... (Feedback to S/A = 0) Does it mean then that the doc isn't "necessary"? NO! It means either an 'exception' to the rule can be made, provided the investor doesn't find it commonly missing - or, that I will FedEx it MYSELF to (B) (borrower) w/ a FedEx back to my corp office as a 'follow-up' doc, because THERE'S NO TIME TO WASTE.

Blue ink/black ink - could be Investor requirement, could be just for ease of auditing, could be just frustration level with red/purple/glitter ink ... if it records and it's NOT investor's whim, well, you're not going to hear feedback but that doesn't necessarily mean nobody notices. We required blue, written in instructions - when done in black, it really can tick you off and your brain just screams "GEEZ is it THAT hard?!" Is that really the kind of reaction you want attached in anyway to YOUR name? You sit and audit 50 pkgs in a day and you'll see how ticked you get having to use the 'smear test' on all those signatures ...and yes, you DO have to be certain they're not copies because yes, you WILL find copies of things like the NOTE or the TIL or something equally unbelievable.

Now - if it's something preventing a legal/compliant or valid loan, and I'm very busy, and having a lot of this from the same title office - I MIGHT push back on them, but ultimately it only ends of taking longer, and it's easier/faster to get it fixed myself.

If you don't think these things (errors/omissions) are commonplace - have another think. In busy times, we hired extra hands who did nothing BUT chase after B's for corrections. Most of the larger T/C's have "post close depts" for the same reason.

Well, you say, no feedback - who cares? I'm here to say - sit and do audits day after day after day, you will pick up the patterns and recognize the names and you will pick up the phone out of frustration (and sheer amazement) and let T/C know "I don't want to see this name (closer/SA) again." And you won't.

Well, that addresses the "I never read the closing instructions" and "Blue ink, black ink, who cares?" and the "I've NEVER made a mistake" issues.

The glitter pen joke is no joke, and again - one in maybe 10 pkgs comes back pretty.

I have my own opinion about the "S/A vs. Point-n-Sign" debate. It's not a 'one or the other' thing, like anything else in the natural world - there are degrees and variances. The P/S (Point & Sign) type can certainly get the job done, but my own take is that these are primarily people with little/no industry experience, therefore the knowledge base is heavily weighted toward the Notary side. (Now wait, hold on, let me finish ...) Because you can't "unknow" something, those S/A's who have industry experience AND Notary knowledge would (I theorize) be more likely to act as the "Signing Agent" type, who explain what a doc is, answer questions about what a doc's purpose is, and often can problem-solve. I know how many years it took me to acquire some of my knowledge base - I think a P/S is safer to THEMSELVES to remain strictly P/S unless/until they really know their way around the laws, nuances of the industry, etc. HOWEVER, I think an S/A with a knowledge base that is balanced (both industry and notary knowledge bases) is less risk to everyone else (B, T/A, Lender) but poses more risk to themselves. There are a lot of fine lines to walk, and you'd better know where those lines are before you walk on them.

The P/S (oh boy, here it comes ...) in my opinion is not 'worth' the same pay scale as an S/A based on math. The P/S will not problem-solve, and will cause unnecessary re-closes and 'lost' loans for reasons that really were quite insignificant. Re-closes cost money. P/S's who also demand to be paid 'trip fees' cost money. The S/A who prevents a re-close for something that is easily solved on the spot SAVES money. That knowledge, willingness to step up and the ability to save money has value. The S/A who is willing to take the same risk of non-pymt for an unfunded loan as everyone else (some appraisers even accept that risk, by the way) is going to SAVE money, and that has value.

This is my business (and you have your's, right?). The questions I ask myself include: How can I be an advantage to my clients? How can I bring added value, so that USING ME instead of closing inside or using someone cheaper or using anyone else at all is WORTH IT? As with any business - WHY should they use ME?

What would be the advantage of using a P/S who, when faced with an issue (and don't most loans/docs have issues?), folds up and goes home, then sends an invoice for their trip and hopes to land the signing when it goes back to re-close, so they can bill again? To me, the attitude of "well, if YOU can't even get their name spelled right on the docs, it's not MY problem, ha, I get paid twice now!" is a spin-off of the entitlement attitude. It's almost like the Lender becomes the enemy ... and it's the P/S and B 'against the world'. Yet ... it's the lender's money the B wants, the B's money the P/S wants.

I'm probably done for the day, but I think the discourse is great - thanks, T/G, for opening this up again.

Reply by cfwMI on 4/5/06 6:46am
Msg #111104

Re: Opinion, you're welcome, and this IS long =)

Great information Renee. Thanks

Reply by lulu on 4/5/06 8:58am
Msg #111133

Re: Opinion, you're welcome, and this IS long =)

Yes it is great to hear about some of the insider information.
I agree that the knowledgeable problem solving sa is the added value.
I believe we are the field buffer. We are trained to know the state laws and
catch the mistakes at the table. Some docs tell you to NOT make any changes without
approval. This is a problem when the office has closed and their is no one to get approval from
and once again this is where the knowledgeable problem solving is needed. Those judgement
calls we have to make based on our continued work with a particular lender, tc etc.
Yes we do run a fine line sometimes in whether we are advising them. Once more it's the knowledge thing.
Not sure how it would hold up in court, but I have a disclaimer that I have all borrowers sign at the end of closing that not only confirms that I have administered the oath but also makes them aware of my role and that I cannot advice them. Stating that I am trained to be familiar with documents. If they have a question I can hopefully find their answer for them within the docs and if not we can make a phone call to get the answer or they have the next three days to get their questions answered and if not to their satisfaction they can sign the RTC. I wish their were a way we could get feedback on how many of our loans close and in addition I always like feedback on the accuracy of the docs I send back. I know this is not realistic, in an ideal world. I guess I just have to rely on those people who do give feedback and the referrels from companies I work with to know I must be doing a good job.
Gotta get to work for now. All Have a Good Day!

Reply by MelissaCT on 4/5/06 10:29am
Msg #111179

Great info

I feel that burying the ink color/etc. is a way to lower pay/not pay the notary. There are times it is so buried I've almost missed it entirely since it wasn't in the usual place (not in closing instructions, but on a single document within the pkg).

Lulu, I'd be interested to see the form you mentioned. If you wouldn't mind emailing a copy, I'd appreciate it. Click my profile link. TIA

Thanks, everyone, for your posts in answer to this good question.

Reply by Giselle_CA on 4/6/06 5:59pm
Msg #111671

Re: Opinion, you're welcome, and this IS long =)

Thank you. Great information!

Reply by LawrenceOK on 4/5/06 9:38am
Msg #111151

Re: Opinion, you're welcome, and this IS long =)

You have nailed it on the head Renee with "No feedback". Yes I do read Lender, TC, and SS instructions (which often conflict with each other) Lender wants it this way, TC wants it their way and SS says no Pay if not our way. So where does that leave us? Right in the damn middle!

Most of the mistakes I see on the documents are, wrong address, JR vs SR, misspelled names and mistyped SS#'s. All we can do is make corrections when allowed. Some instructions say "make no corrections to documents" So don't yell at me when they are not corrected.
You need to yell at who ever prepared the documents.

There is a very thin line we must approach when presenting documents to the borrowers, and sometimes we may have to put one foot over that line so that the borrower's understand what it is they are signing. Many folks may feel this is UPL, I would agree if you jumped over with both feet.

Am I in the borrowers home to sell the loan? NO! However, I am there to assist in the signing of the documents, I must be prepared to contact the proper individuals when and if a problem arises. Unless of course it's 9pm and your contacts are unavailable. Then I guess I become a salesman.

Many state laws are clear that we are to be impartial and unbiased witness's. Some states even say we are not to have a financial interest in the documents we notarize. So were does that leave us if the loan does not fund. Unless of course it doesn't fund because of our mistake.

To error is human, we ALL make mistakes. At least give me the opportunity to correct my errors before screaming to whoever not to use that notary ever again. jmo

Reply by lulu on 4/5/06 11:43am
Msg #111220

Re: Opinion, you're welcome, and this IS long =)

Everyone deserves a second chance. I think the yelling to not use that notary again was in response to a lot a loan signings with errors with one particular notary name on all of them, not just one mistake.
I will say I think it can be an unforgiving industry. Time is money and if a particular notary causes a glitch in their pocketbook, so to speak, they will look elsewhere.

Reply by Pat/IL on 4/5/06 9:41am
Msg #111156

Re: Opinion, you're welcome, and this IS long =)

Renee, that was nearly poetic. I have been in the title business for 16 years, and I learned from your post. If the page for beginners is ever implemented, IMO the very first item should be a link to your post.

P.S. I hope the '1 in 10' were from my cmpany.

Reply by janCA on 4/5/06 12:20pm
Msg #111236

The best post

Renee, This is truly the best and most informative post I have ever read on this board (3 yrs. now) and quite the eye-opener. Thank you.

Reply by TitleGalCA on 4/5/06 11:26pm
Msg #111436

As always Renee, great info - belongs in 'Best of NR'

from someone in the know, and yes, in your area...why would ANYONE hire someone else??
I'm glad you posted - and was hoping you would =)

I do think there is a happy medium between someone like yourself and the point and sign crowd, particularly new notaries, and I'd venture that most here in the forum are in that mid range, and I sure as hell hope that I am.

I find that when I accept SS work, and find something I know is an error on the docs because of my experience, it's a real decision as to whether or not I want to mention it. I've pointed out errors in the past and have been told "it's not your concern" but others have thanked me. It just depends on the sophistication of the SS...and the attitude.

For me, it's a bit easier with escrow staff because I speak their language.

It's too bad the chaos that's happens with the whole loan process. The passing of docs through all those hands guarantees the chaos, and the errors. In my day job I mutter all day long about how docs could come to me in the condition they are after review by both lender and escrow?? Has anyone been paying attention??

It would be nice if someone like you in the closing/funding arena would take more time to give feedback - but such is the nature of the beast.

I guess we'll all have to be satisfied with having someone like you posting the Truly Good Stuff.

Add my thank to all the others

Reply by BrendaTx on 4/6/06 4:22am
Msg #111459

Re: Opinion, you're welcome, and this IS long =)

TG - thanks for moving this to 33325.

Renee - such a great post! I always learn a ton from you.

To the group in general for discussion . . . I have begun to feel differently about the "experienced" notary being more desirable.

I am not so sure that I can agree with the theory that the powers that be want experience, quality, or an eye for detail. Understand that it is what I hope for, and want to believe, but I cannot buy in that this is the case 100% of the time.

The more I watch this board, talk to other notaries and see some of the insane practices by signing services to save $10 the more I theorize that the industry has adapted to the newly commissioned, hungry, and uninformed nsa more efficiently each year.

The evidence seems to indicate that the top dog in this fight is the cheapest...if the quality of work is good, well - that's a help.


Tell me I am wrong!!

Reply by Renee Kovacs on 4/6/06 6:33am
Msg #111474

Re:Thank you, here's more, and I've become quite prolific!

Wow - I can skip the blush powder today! Thanks =) Brenda - I definitely agree there is a large 'vendorship' out there that does NOT want experience, and for reasons other than financial.

Go back to the days when loans closed inside. As with anything else in life - there is the right way to do things, the legal way, the compliant way ... and then there is the real world. T/C's pander to the mtg brokers and R.E. brokers, that's their bread & butter. Sometimes, they take risks in order to hold onto those relationships. That's the reality, that's the 'unspoken' part - those fine lines and gray areas that exist EVERYWHERE, including in this industry. Of course.

Brokers are extremely fickle. They are sales-oriented (forgive me, yes, I'm generalizing) and follow the money. Their concerns aren't the same as anyone else's - just as anyone else's concerns aren't theirs.

If there is a rule that can be gotten around in order to close a loan - then the T/C will find a way to get around it, or risk losing the broker relationship/account. This reality might not be present in ALL T/C's, and not ALL brokers will play this way - but again, this is generalized.

Now - toss in the potential cog in the wheel, the mobile closer. Huge value potential, and huge potential to lose out in the 'gray or not-so-gray areas'. Hmmm. Who is most likely to be very malleable, accommodating, unaware, naive? The 'Newbie', who's also likely a Point-n-Sign. Not only do you get that, there's the added bonus of those 'types' being much cheaper. Sure, it's a crapshoot - so is getting out of bed or crossing the street.

Let me illustrate - again, drawing from my former life (which was no life!). The numbers, the volume was not insignificant. I used to avg. 90 phone calls a day, and as manager these calls were the 'problem' calls. Remember, guessing 1 in 10 pkgs comes in clean, and 80 closings at the table any given day (back then). I'd guess about 1 or 2 a YEAR were 'un-fixable'. All day LONG, my careful words would go to T/C closer "I need THIS" and it would be produced.

"I have several docs in here dated by B for the day AFTER. I need these docs dated day OF, or I have an invalid loan." Response: "Oh, sorry, he must've made mistake, will get that for you today."

"Spouse didn't sign RTC, I need spouse, need dated day OF, or invalid..." Response: "Oh, sorry, we must've kept the copy she signed, will get that to you today."

This goes back to those Closing Instructions ... the contract to close/insure the process or take a hit. I will never forget once having to call back a wire over 300k from a T/C for an invalid loan that they had disbursed on before rescission expired. It shut them down. It was not fun. They took the risk, and lost =(

Anyway - so yes, Brenda, you're correct - not everyone WANTS someone who knows their way around the playing field. NOW add in Signing Services ... what a plan. So, you're the T/C and you have all these fine lines to deal with, all these fickle accounts to nurture, and the mobile closing has become the service-de-jour. No more "sorry, we can't close that today, we're booked." Nope, you now must/can accommodate...

BUT, as the added value to using a Signing Service, you have a CONTRACT in place that would essentially cover YOUR butt, and you can pass off the "I need THIS" calls to someone else. Essentially, this is what the lender was doing to T/C - now, T/C can pass the buck to SS, who in turn passes to S/A. Well, COOL BEANS, EH?

And we come here and read daily "How do I feel out an all-purpose ackn?" and other such scary stuff.

Even the 'good' T/C's will ask you to do things - maybe it's rare, but they do. They get squeezed; they get threatened by brokers who'll pull the account if they 'lose' this loan. The difference is - the good ones, if they ask, won't MIND when you say "Um, pass on that, sorry." They don't hold it against you, they didn't want to ask in the first place and often you'll find they (meaning T/C's processors, schedulers or closers) don't CARE if that broker takes a leap.

I only worked for two wholesalers, and know people at a couple others - so my exposure was limited and there are hundreds of wholesalers - but those I'm familiar with were clean, straight, and vigilant to the compliance of laws/practices. I have to think MOST are, because brokers are fickle, and they don't sever lender relationships because of these kinds of things, but over rates, programs, and u/w guidelines. Again, they just follow the money.

Well, it's all well and fine. There are enough T/C's who operate straight & clean to keep the experienced & knowledgable S/A in business, and they are willing and happy to pay for it. Choose your dance partners, everyone. One man's meat is another man's poison.

Reply by Tina_MA on 4/5/06 1:24pm
Msg #111267

>>>For all those who think I'm trying to impress, all that means is I'm old and have a lot of experience in this business.<<<

Can I look like you when I get old?

Reply by TitleGalCA on 4/5/06 11:28pm
Msg #111437

LOL Tina...you made my day/night/week/month/year!! n/m