Posted by Curious George on 7/6/06 10:54pm
Msg #131365
Please Explain
Why is it that everytime I come to this board the people bad mouth Signing Services but a notary has never made a mistake on one signing. How is this possible? I am starting to not believe anyone anymore. Are you telling me you guys never make a mistake? If so, how can I get this good?
| Reply by hcampersFL on 7/6/06 11:05pm
Msg #131366
Do a search using the word mistakes. You will read plenty. n/m
| Reply by CaliNotary on 7/7/06 12:26am
Msg #131380
When you see us bad mouthing signing services are we trashing them for mistakes? For the most part no, we're trashing them because they're not paying us, they're offering us insulting fees, they've got ridiculous requirements, etc.
Why do people think "you're not perfect either" somehow means we're not supposed to have opinions?
| Reply by Joe Ewing on 7/7/06 2:09am
Msg #131385
Pity the poor Loan Officer who has been working nights for weeks to get this loan just right. His clients are very skeptical. They have been dealing with a voice on the phone and they are not sure they can trust him but a lower payment and 50 grand cash is very enticing. So it's time to close this thing and the Loan officer discloses everything to his clients so there is no surprises. Including of course the $250 notary signing fee that the clients accept begrudgingly. The Loan Officer knows a pro will be carrying his paper. Unknown to him the title company has other plans and calls a signing service instead of ( for example) choosing a professional off the Rotary Notary list. The Service sends a favorite part timer who will handle this one for $50 after work.
Does anyone want to help me with my story?
| Reply by MistarellaFL on 7/7/06 7:44am
Msg #131397
And the $50 professional notary goes to the brw's
just minutes late of their appt. time, 9 PM PDT.
hey look at the TIL first.
The APR reads 8.2%. The borrower can't believe it!
That shady L/O, they say, he promised us an interest rate of 7.5%!
We're not signing, say chant!
The notary calls the SS that hired her and tells them, hey, they are mad about
the rate. They won't sign.
| Reply by BrendaTx on 7/7/06 7:52am
Msg #131399
The SS can't figure it out either. The owner probably has only handled loan docs for around three months before becoming a siging service...or maybe the owner is on vacation and a person who has never seen loan docs is answering the phone.
Title throws up their hands in despair and sends a trained person out to do the job and refuses to pay the ss for this one.
The first notary doesn't get paid because the ss doesn't get paid. Maybe the SS says it was YOUR mistake, NOTARY.
Well...inexperienced notary does not understand so notary posts on NR that they have been wronged by a deadbeat SS.
| Reply by MistarellaFL on 7/7/06 8:00am
Msg #131402
Oops, not finished
They call the L/O, who is in NY.
He is not available, it is midnight on the east coast.
SS employee doesn't know what the agent is talking about.
"Didja tell em about their RTC?" "Yeah, I told 'em, but they say why sign
and cancel? This is not what was agreed upon!"
She advises to adjourn the signing appt.
The signing is adjourned.
L/O is advised of such in the AM and contacts his brw's.
He says, 8.2% is your APR, and explains that the APR is the annual
rate of the loan, including pre-paid finance charges.
He says, the prommisory note explicitly shows your interest rate
to be 7.5% as agreed upon. Didn' the closer show you that?
No, the brw's reply, she wasn't quite "with it".
She said "all you L/O's are theives, anyways, and at the time, we agreed.
L/O calls TC & SS and gives them a piece of what's left of his mind.
Angrily, he fires everybody!
He then calls Mr. Smith, a witness closer he has used before and is confident in.
He is a little farther out mileage-wise, but agrees to see these clients for a fee of $300
(due to the 100 mile RT he must make).
He shows the brw the note, which says 7.5%. They are ecstatic!
he3 shows them the HUD, which shows a reduction in fees, AND a little more
cash back than the current GFE showed. Wow! They love it!
The rest of the signing goes smoothly, L/O gets a courtesy call from Mr. Smith,
the package is returned to the TC, the loan funds 3 days later, and Mr. Smith
receives his check 4 days later.
The SS doesn't get paid, and the notary hired is po'd because, hey, I want my print and travel fee!
Based on a true story......
All names were changed to protect the innocent.
| Reply by BrendaTx on 7/7/06 8:30am
Msg #131414
Re: Oops, not finished
Great true story.
Sometimes it also pays to explain this scenario to the LO's you work with. They often don't know what a signing service is. You can enlighten them and tell them they have the right to request a notary who has experience...or you.
| Reply by MistarellaFL on 7/7/06 8:36am
Msg #131419
Re: Oops, not finished Brenda
Right on!
I am in the midst of a major L/O campaign right now.
The stories I am hearing...
These bad experiences L/O's are sharing with me have caused me
to offer them a freebie.......if the loan is not signed. No print or travel fee
if it is a no-sign.
In return, they are agreeing to make certain the ID matches the docs, and
that the brw's are prepared for any recent or last-minute changes.
If not, then I get full fee if they don't sign.
This gal doesn't play at the biz...it's not a game to me, either!
| Reply by BrendaTx on 7/7/06 8:52am
Msg #131422
Re: Oops, not finished Brenda
I had a tx network explain to me yesterday they fear losing signing service business by being too out there with the network.
I understand that. However, I did not embark on making extra work for myself with the network only to continue to be fearful, to accept abuse, low fees and garbage from a "notary broker." You cannot have it both ways. If telling the truth about a notary's life is a problem, then oh well.
I do not mean good ss's, but I won't be afraid to explain the way the bad ones operate to anyone. If SSs want to change this, then they'll need to get with their peers and explain the "what for" of "common decency."
| Reply by Wendy Pablico on 7/7/06 10:03am
Msg #131439
Re: Please Explain I see the point to this story
Excellent example!! that's why I want to really learn how not to sell my serivices for peanuts great example I see now the seasoned SA refuses to take peanuts and get upset when the SS think they're so desprate to get a job they will sell themselves out.
Great example thank you!!
| Reply by MistarellaFL on 7/7/06 9:10pm
Msg #131614
Re: Please Explain I see the point to this story-Wendy
It's more than that, the problem with SS is that they are often manned by
inexperienced owners/employees who in turn, hire inexperienced independent
contractors to make more moola.
Problem is, the inexperienced NSA is often unfamiliar with the paperwork,
the terminology, the whole processes in motion, etc.
Pursuant to the topic of the post, it's not that we don't ever make mistakes,
but frequently, when working with SS, there is often more miscommunication,
a lack of knowledge on both ends.
As Brenda and I pointed out (if she doesn't mind my paraprasing for her)
when we read these non-payment SS issues, we often wonder who dropped
the ball-the inexperienced SS (or their employee) or the inexperienced NSA or BOTH.
We have all been new, and many of us have made this a 2nd (or 3rd or ...)
career, so we've ALL had to learn the biz.
If the loan is NOT signed or fails to go through because of the inexxperience
of the SS/NSA, no one on that end gets paid.
The brw's, L/O's and the TC's have expectations of a remote closer who knows
what time it is.
And NEVER EVER tell your brw that their L/O is a shady character even if he/she is.
It will bite you in the butt and a bridge will be burned. Who knows what really
happened? Maybe the brw has baaaad credit. Lucky to be getting a loan from
ANYONE! Who knows?
I would rather say to a disgruntled brw,
"I don't have any experience with this particular co" than commisserate with them
and agree the L/O is shady.
If I find a shady L/O, I can always decline his/her next appt.
Didn't mean to write a book, you seem like your head and heart is in the right place.
More money is great, but it will come to YOU if you learn what is expected of you.
I know just starting out, you have to take less money, more SS work.
Use your free time wisely.
Learn notarial laws for your state.
Have integrity. Don't sell out for a few more bucks. Be proud of your commission.
Learn the field. Learn more about the field.
Learn about the fields surrounding this
field.
Learn the paperwork,in and out!
Listen to the more experienced.
Now, I am going to HAVE to go eat more junk food.
I think I am getting HIGH on chocolate. Am I rambling? LOL
| Reply by MistarellaFL on 7/7/06 9:17pm
Msg #131617
Sorry about the baaad speeling, LOL,
I AM high on chocolate!
| Reply by MistarellaFL on 7/7/06 8:04am
Msg #131403
Get a good signing agent education
Spend less time skating, more time studying.
| Reply by Becca_FL on 7/7/06 8:23am
Msg #131411
Re: Get a good signing agent education
Misty, you are on fire today!
>>>Spend less time skating, more time studying.<<< I LOVE it!
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