Posted by Anonymous on 2/3/06 1:57pm
Msg #93902
You need to read this
I was reading this from other forum and its great, we should send this out when we got this ridiculous
demands from this SS.
"I created this parody of typical signing agency demands but changing them to demands that fit the notary's needs. And I agree with an earlier poster that if we are so closely restricted and regulated by these agencies, the IRS may not consider us "Independent Contractors"!
THIS COMPLETED SHEET IS YOUR NOTICE OF REQUIREMENTS BEFORE DOCUMENTS ARE SENT TO THE NOTARY
(Initial each act)
THE NOTARY'S FULL FEE, NOT A "TRIP FEE", WILL BE DUE AND PAYABLE if the closing is not completed due to negligence and/or errors on the part of the Signing Agency, Title Company and/or Lender.
1.____Did you CALL the borrower(s) and verify the spelling of first, middle and last names? Did you also verify the other critical data noted in requirement 2 above? You MUST match the name on their DL or other acceptable ID with the name to be signed on the documents. YOU ARE ADVISED that "Bobbie Jones" is NOT the same person as "Bobby Jones" nor is "Suzy Brown" the same person as "Suzanne Brown" or "Mary Susan Brown" or "Mary Sue Brown". The Notary must properly ID the signer. IT IS THE LAW! It is YOUR responsibility to pre-screen the borrowers to be sure the name YOU place on the documents is the same as the ID they will present to the Notary. You will be charged an additional fee if you do not comply with this requirement. NO, AN AKA STATEMENT DOES NOT REPLACE CORRECT AND PROPER IDENTIFICATION OF THE BORROWER BY WHATEVER NAME HE OR SHE WILL SIGN.
2.____MOST IMPORTANT! Have you called the borrower(s) and verified that they are aware of the latest change to the interest rate on the final documents????? THIS IS NOT THE NOTARY'S JOB! The Notary is NOT responsible if YOU do not inform the borrower(s) that you are increasing the interest rate they will pay from the rate you have previously discussed with them and exactly what that new increased interest rate will be. It is imperative that you make this call. No excuses will be acceptable. You will not blame the Notary for your lapse in your duties, and you will pay the Notary's full fee if the borrower(s) refuse to sign because the interest rate is higher than they anticipated.
3.____Have you reviewed the closing costs with the borrower(s)? No, not the estimated closing costs discussed with them when they applied, but the true closing costs (which are invariably higher than the estimated ones) which appear on the HUD Statement? See Requirement 1 above for the consequences you will suffer if the borrower(s) refuse to sign because the closing costs are much higher than they anticipated. You will be charged an additional fee if you do not comply with this requirement.
4.____State clearly and in plain English in what color ink documents are to be signed. If no preference between BLACK and BLUE, so state in the Instructions. Be sure these instructions are the FIRST page of the document package, NOT the last! You will be charged an additional fee if you do not comply with this requirement.
5.____All documents MUST be proofread to eliminate errors in the borrower(s) name(s), address, city, state, zip code, county where property is located, marital status, and all other critical data that would require the Notary to stop the closing and call the Lender, Title Company or Signing Agency and receive permission for borrower(s) to correct such errors at the table. You will be charged an additional fee if you do not comply with this requirement.
6.____Did you proofread ALL documents to be certain the borrower(s) name(s) are spelled correctly and are the same on all documents? Names MUST be the same on ALL documents. You will be charged an additional fee if you do not comply with this requirement.
7.____Did you proofread ALL documents to be certain the closing date is the same on ALL of them? You will be charged an additional fee if you do not comply with this requirement.
8.____If the spouse is a co-borrower, did you add his or her name to the documents that he or she must sign? If you are using generic documents, did you include a separate set of instructions to the Notary listing all documents the non-borrowing spouse must sign? You will be charged an additional fee if you do not comply with this requirement.
9.____Did you call a Notary within a reasonable period of time after receiving the assignment from the Lender or Title Company? DO NOT WAIT UNTIL THE LAST MINUTE TO TRY TO FILL THE ASSIGNMENT! You will be charged an additional fee if you do not comply with this requirement.
10.___Did you give the Notary complete contact information for the Lender, Title Company and/or Signing Agency person(s) who will be available to answer questions that may arise at the closing table? This means providing AFTER HOURS phone numbers as well as standard business day phone numbers. Did you properly and adequately IDENTIFY these persons to the Notary? You will be charged an additional fee if you do not comply with this requirement.
11.___Did you give the Notary full information as to the time and manner of delivery of the closing documents? You will be charged an additional fee if you do not comply with this requirement.
12.___If documents are to be emailed, did you arrange to have the documents ready and emailed to the Notary in a timely manner. THIS DOES NOT MEAN WAITING UNTIL TWO HOURS BEFORE THE CLOSING TO FINISH PREPARING THEM. You will be charged an additional fee if you do not comply with this requirement.
13.___If documents are to be sent by Fed-Ex or UPS, have you called Notary with the Tracking Number for the package? THIS IS VERY IMPORTANT! DO NOT OMIT THIS STEP! You will be charged an additional fee if you do not comply with this requirement.
14.___Have you supplied Notary with the necessary names, addresses and account number for use in sending the completed package after the closing? You will be charged an additional fee if you do not comply with this requirement.
15.___Have you properly and correctly identified every document that must be FAXED to you after the closing? If any documents MAY OR MAY NOT BE IN THE PACKAGE, have you so stated on the instructions so Notary does not spend an hour looking for documents that are not in the particular package he or she received. You will be charged an additional fee if you do not comply with this requirement.
16.___Have you (or the Lender or Title Company) informed the borrower(s) that a copy of their PHOTO ID is required at the closing? When a closing is scheduled with a Notary at the last minute, it is often impossible for the borrower(s) to obtain this copy in time. Therefore, it is IMPERATIVE that the parties who have been in contact with the borrowers to set up the closing also inform the borrower(s) of this requirement. NO EXCEPTIONS! You will be charged an additional fee if you do not comply with this requirement.
17.___Have you fully informed the Notary of your payment policy if the Notary attends the closing, and there are uncorrectable errors in the documents or the borrower(s) refuse to sign THROUGH NO FAULT OF THE NOTARY, and the Notary duly calls at least one of the following - Lender, Title Company and/or Signing Agency - to so report. THIS STEP CANNOT BE OMITTED. You will be charged an additional fee if you do not comply with this requirement.
18.___Are you wearing office casual attire? Jeans, t-shirts and sneakers are unacceptable. You will be charged an additional fee if you do not comply with this requirement.
19.___Be sure your hair is combed neatly and your face and hands are clean. You will be charged an additional fee if you do not comply with this requirement.
20.___Is your voice well modulated and pleasant to the ear? You will be charged an additional fee if you do not comply with this requirement.
IMPORTANT - A PENALTY OF 10% OF YOUR ANTICIPATED PROFIT FROM THE LOAN WILL BE DEDUCTED FOR EACH VIOLATION OF THESE REQUIREMENTS. NO EXCEPTIONS! NO EXCUSES!
BEING SUCCESSFUL AS A SCHEDULER MEANS YOU MUST PROVIDE THE NOTARY WITH THE RIGHT TOOLS TO DO HIS OR HER JOB ADEQUATELY AND WELL.
**********IMPORTANT**********
IT IS THE RESPONSIBILITY OF THE LENDER, TITLE COMPANY AND SIGNING AGENCY TO ENSURE THAT ALL SIGNING DOCUMENTS AND INSTRUCTIONS ARE WRITTEN IN PLAIN ENGLISH AND PROVIDED TO THE BORROWER(S) AND NOTARY IN A TIMELY MANNER.
FAILURE TO FOLLOW INSTRUCTIONS MAY RESULT IN A REFUSAL OF YOUR ASSIGNMENTS BY CAPABLE, RELIABLE, EFFICIENT AND KNOWLEDGABLE NOTARIES WHO WILL GO THE "EXTRA MILE" TO SAVE YOUR CLOSING. YOU WILL LEFT WITH INEXPERIENCED, UNRELIABLE OR INEPT NOTARIES, WHOSE ERRORS MAY LEAD TO A DOWNTURN IN YOUR BUSINESS.
YOU MUST SIGN AND INITIAL AND DATE AND FAX AND EMAIL AND CALL THE NOTARY TO CONFIRM THAT YOU HAVE PROPERLY AND ADEQUATELY PERFORMED EACH AND EVERY STEP OF THESE INSTRUCTIONS BEFORE THE CLOSING BECAUSE WE DO NOT BELIEVE YOU ARE AN INTELLIGENT PERSON AND THEREFORE WE HAVE A RIGHT TO TREAT YOU IN A PATRONIZING AND INSULTING MANNER.
|
