Posted by patricia on 6/20/06 11:10am
Msg #126997

LSI East

I accepted a signing for a WAMU loan, documents were sent to the borrower, when I got to the signing there were instructions for fax-backs, just over 40 pages. Of course my confirmation mentioned nothing about this. I spoke to someone about an additional fee for all the extra work and was told that no one has ever asked for that and they cannot pay anything extra. Based on the number of messages here regarding fax-backs it is hard to believe that no one ever says a word to LSI.

Reply by Anonymous on 6/20/06 11:20am
Msg #127001

The general rule for those LSI/WAMU faxbacks has been to do so only if it was a non-RTC property, in order to facilitate being funded right away (as opposed to checking for notary errors). I've noticed the insert recently that seems to indicate every loan should be faxed back, but I don't do it for regular loans that have an RTC, as they have plenty of time to fund.
Never had a problem.

Reply by JS_MD on 6/20/06 11:22am
Msg #127003

I had this issue with them twice in the last two weeks .......I turned down both closings when I got the list of 40 or so faxbacks. They did not disclose this requirement when booking the appt. I did not find out til I got the edocs. When I called back they would'nt budge on an extra fee so I cancelled. The second time I had asked when she called about fax backs and was told there were no faxbacks....and again when docs arrived they were required. I am sure they have heard this from plenty of other notaries.....she is full of crap.

Reply by patricia on 6/20/06 11:26am
Msg #127004

thanks for both the posts, yes it did occur to me that the RTC should make the fax-backs unnecessary and I certainly knew that others have absolutely mentioned an extra fee. All I ask is for them to mention the requirement when scheduling appt.

Reply by Jason on 6/20/06 9:18pm
Msg #127105

Wamu notoriously cheap.

I turn down Wamu loans.

Always ask who lender is.

Reply by patricia on 6/21/06 8:01am
Msg #127185

I received a call from someone at LSI who told me that the reason they dont pay extra for the fax backs is that they dont require the use of our paper. So they dont think my time and the use of my equipment are worth anything. Hopefully not too many people are falling for this excuse, at least not more than once.