Posted by twil4_WI on 5/27/06 8:30am
Msg #122667

LOAN SIGNERS INC/ GO GET APPLICATION?

I got a call yesterday while I was on the road from Loan Signers Inc for a signing today, which I accepted. When I got back to the office last night and printed the lengthy confirmation of instructions I see it is not a closing, but to go and secure an application from these folks, pickup documentation required by the lender, explain to them that it is not a committment, and that none of the figures or interest rates are locked in, and present them will an invoice of $240 while I am at it for the service of applying! I will be able to send them an invoice once they invite to via email after the client, Ace mortgage gets back my package.
Am I nuts here, or is this nothing to do with being a notary? I feel I should have been told this was the scenario upon being hired. I have gone out for one other application a year ago and the potential borrowers were completely in the dark as to what was going on, and while this is an area some signing agents may want to expand to, I feel it is selling loans, although the confirmation says it is not, we are simply assisting in collecting the docs. As I am neither a lender nor a courier I chose to pass. Opinions?

Reply by LkArrowhd/CA on 5/27/06 10:04am
Msg #122679

I myself have done many apps, I have no issues with it, however I was told before hand it was an app with specific instructions on what to collect, ss paid fee in my backyard, it's a simple process and feel this could be completed by borrower alone by them faxing docs requested. I see no need for the notary in these cases but fee is good and in and out in half hour generally. Plus I do like the ss......