Posted by Ray Childress on 2/23/06 11:34am
Msg #99254

Require Credit Applications.

Could someone explain to me why these signing companies and title companies have a problem with filling out a Credit Application? 1. they are asking you as a notary to do work for them and not get paid till they get ready to pay you. 2. They are operating on your bucks, untill they do.
Any way you slice it they are requesting that you LOAN THEM THE MONEY untill your paid.
Seems if they were an honest company they would not mind displaying thier simple financial information.
If any one would like a Generic Credit application in PDF FORM just email me with a good email address ill be glad to pass it to you.
Thanks <the newkid on the block>

Reply by Charles_Ca on 2/23/06 12:01pm
Msg #99267

Greetings Ray and welcome aboard.

You are 100% right. I credit application is certainly appropriate. Many of the services who contract with you require all kinds of information and yet sometimes its even difficult to get an actual physical address.

The unfortunately reality of the situation is that there is a glut of notaries and many of the notaries as well as the service are not seriously in business. Many of notaries and signing services are operated either by stay at home moms or are a part time income. I don't intend to disparage stay-at-home moms but their needs and their operating characteristics are different from those of serious businesses.

Since there is a glut of notaries and many newer notaries (and there are organizations who are flooding the market with new ill-prepared notaries) do not have any business background the services, being providers of income are in a position to dictate whatever terms they want and there are enough desperate notaries to acquiesce to their demands. I am in the real state business (some will say I too am a part-timer) and I am a loan producer but first and formost I am a business man. Before I retired and went into real estate I was a chief operating officer for an aerospace contractor I helped start. The business is undergoing major changes and I ahve been advocating organization for notaries. Because while many believe that organizations such as the NNA and the ASN etc are professional organization they are in fact only marketing organizations disguised as mutual benefit societies. A true professional organization will go along way to establishing a notary as a professional instead of just another type of clerk!

Reply by BobRogers_FL on 2/23/06 12:18pm
Msg #99275

Charles...I don't know how long you have been around the signing industry, but you are absolutely right in your analysis. I have been around since the early days (1998), and I agree wholeheartedly with what you say. The problem is, it is not a simple thing to do. If you can be successful in organizing this industry for the sake of the NSA then you will have accomplished what many want and have advocated for for years.

I wish you the best of luck in this endeavor.

Reply by Charles_Ca on 2/23/06 12:31pm
Msg #99284

Re: Require Credit Applications. Thanks Bob

I've been in the Real Estate business for over 20 years. While I am a relatively new notary I am also a loan originator. I was shocked at the state of the industry when I received my commission. There is chaos and unfortunately I am not the person who has the time or the inclination to straighten this mess out. I have offered in the past to help create such an organization and act as interim officer until the organization can elect permanent members. I have been an incorporate for several businesses and non-profits. I just don't have the time to actually start such a group. I believe that it should be a grass-roots effort and should start on the local level. The local groups can elect delegates and have a state convention and then elect delegates to a national convention to elect officers for the national organization. A lot of people talk about it few act, unfortunately that's typical, but it appears to more difficult with this group: there are certainly people here who consder the staus quo just great!

Reply by Ray Childress on 2/23/06 1:10pm
Msg #99297

If a few of the seasoned Signing agents that have emailed me with snippies about looking up a company saw some of the credit reports from some of the big players in the morgage industry let alone a "broker" of work for signings, they probably would cancel thier commission.
My company has ventures in several areas. We are also in the frieght industry. "Brokers" in the freight industry are required to have registration and surety bond on file with the DOT. Please remember Seasoned Signing Agents !!! once you do work for these people your at thier mercy for payment. What are you going to do if a company doesnt pay you? Go knock on a door of a empty place that has gone out of business?

Reply by Pamela on 2/24/06 12:57am
Msg #99499

Reply: Require Credit Applications.

Charles,

I agree!

Having worked for years in the Social Services field, I decided to change professions.

Recently I entered the loan signing business (I am also a new Real Estate Agent).
It surprised me too, that the notaries are not organized into powerful political groups
such as the National Association of Realtors or the California Association of Realtors!

Yes, notaries are being churned out on a daily basis to fend for themselves! There is no structure. As a whole, there seems to be a lack of real training. Meaning that, before I was able to take the real estate exam, three courses were mandated. Although I passed the exam the first time, it was not easy ( I also have an undergraduate degree in Communications)!

In comparison, notary and loan signing classes (and tests) are all completed in a separate one day class (in California)! That's it! It appears to be the norm, that a notary and/or signing agent is to learn by "trial and error"!

Additionally, because loan papers are federal in nature, there should be standardize training, across the board, for signing agents. Of course each region may have its differences, but there should be some sort of uniformity.

If the number of training hours were raised, from a 6 or 8 hour workshop, to a 48 hour class (or classes), for example, "newbies" would be better prepared!

Actually, there should be some type of certificate program, offered at a Community college
(for example), for potential loan signing agents. Having to successfully complete a series of classes and/or workshops, would be required, before a one-day (6 - 8 hour) state exam could be given. Once passed, a license would be issued.

Of course there are experience notaries who give excellent information on the various notary boards, but there are as many more "newbies",who have no idea that there are such websites! And, these same long-time notaries and signing agents, would make fine leaders if they all came together and organized!

However, because there is no lobbying, political voice or mandated higher level of training, there will continue to be chaos!


Pam

Reply by Ilona_OH on 2/23/06 12:14pm
Msg #99272

Since you didn't click the link button I can't fiqure out how to email you. I'm pretty challenged at any kind of fiquering technology out.

Reply by Ray Childress on 2/23/06 1:15pm
Msg #99299

not a problem, it should be there shortly.