Posted by IMS_IN on 11/15/06 5:56pm
Msg #160355

Question for Chris - Loan Signers, Inc.

I wanted to first state that I have received payment for the past due August closings - Thank you.

My new concern is that I am scheduled to complete a RESPA signing for your company in about an hour from now and have just learned from reading the postings here, that you do not pay the full fee now if the borrowers do not sign. This doesn't sound too good considering that this is a RESPA signing and I found out (after I accepted the assignment) that the borrowers are hard of hearing and since I do not know sign language, there will have to be an interpreter present.

I have closed over 4,000 loans during my Signing Agent career and hope to continue to work with Loan Signers, Inc. in the future but I have to admit that the reduction in the "no-sign" fee will make me reconsider accepting future assignments. I realize that you do not make much of a profit off of no-signs but we have a lot of time and expenses involved in our closings and let's face it, there are a lot of times when these RESPA signings do not get fully executed by the borrowers due to no fault of the Signing Agent.

Kristy

Reply by Chris von Nieda on 11/15/06 8:29pm
Msg #160380

Hi Kristy,

I'm glad to hear you received the past due payments and for making it public knowledge. Thank you for that.

I want you and everyone else to know that I HATED changing the policy about compensation for failed signings. My opinion is that if you show up for the signing sit down with the borrower and they chose not to sign...you did your job and should be paid accordingly. That worked fine up until May when we started doing the Respa's. A few months in to it we started wondering why we were only get paid on 1/3rd of the deals we signed. Well as you would expect the numbers don't quite work, especially if we are paying full fee on every single signing. Without getting in to the whole ugly story we had no choice to change the policy. The losses were huge. That situation has been rectified and my hopes are that we can change the policy back in a few months. For now...the decision is with you as far as should you chose to "roll the dice" with us. We hope you chose to do so.

- Chris

Reply by IMS_IN on 11/15/06 10:22pm
Msg #160402

Chris,

Thank you for replying to my message. As I suspected, the borrowers did not sign.

Kristy

Reply by Chris von Nieda on 11/15/06 11:23pm
Msg #160415

grrrrrr, I'm sorry to hear that Kristy. Would you mind telling us why or you can email me if you prefer?

- Chris

Reply by Joan Bergstrom on 11/16/06 4:26am
Msg #160449

Are you still requiring loan signers to pay your service to be hired?

Reply by BrendaTx on 11/16/06 7:14am
Msg #160475

Re: Question for Chris - Joan, I am glad you asked that!

I have been wondering the same thing. When I was pretty new, I paid to be on their site. I have never worked for them.

Mea culpa. Learn from my errors and do not do it.

And, remember that this is the same place.

So, there's the rest of the story.

IMHO - my problem, my goof, my regret. I just don't feel inclined to be excited (in a good way) about them coming on the board to tell notaries Loan SI had a bad business plan and got stiffed by a client so they could not pay them. For pity's sake, the notary's who hoped to work for them set up their working capital.

They are also the company who I first saw trying MLM on notaries...to get notaries to hand them clients to extend their client base and then notary would get a commission from that client forever.

I am very cynical about these people.

Reply by Chris von Nieda on 11/16/06 11:10am
Msg #160541

Re: Question for Chris - Joan, I am glad you asked that!

Hi Brenda, what is your notary ID with us? I'd like to look in to why you never got any business from us.

The main thing I want to address in this post...as the rest has been beaten to death by others...is our Account Executive program was not a MLM. There was only one level. There was no "downline" or commissions for anyone except the AE. It was simply a way for notaries to take advantage of the business their national relationships were sending elsewhere.

The program was cancelled because we spent tons of money and time trying to help notaries use this opportunity to build their business's and no one ever did anything with the exception of 1 notary who we made our sales manager.

Please be careful what you post. This was TOTALLY inaccurate.

- Chris

Reply by BrendaTx on 11/16/06 12:59pm
Msg #160563

Re: Question for Chris - Joan, I am glad you asked that!

**Please be careful what you post. This was TOTALLY inaccurate.**

Others can be the judge of that based on your clarifying statement. I am not going to split hairs with you.

**There was no "downline" or commissions for anyone except the AE.**

It's not important that you find out for me why I was not called, but thank you for your offer to look into it.

Reply by Chris von Nieda on 11/16/06 1:27pm
Msg #160570

Re: Question for Chris - Joan, I am glad you asked that!

Brenda: agree on not splitting hairs...works for me. BUT whenever a notary comes on here and says "I paid a fee and never got called" it's basically saying I wasted my money...Whether directly or indirectly it's a derogatory comment. If you and others are going to make derogatory comments on here then I deserve the right to investigate the situation and post my findings. It may come back and bite me in the butt but I am willing to take that chance. Are you?

- Chris

Reply by BrendaTx on 11/16/06 1:54pm
Msg #160573

Re: Question for Chris - Joan, I am glad you asked that!

**Are you?**


Chris, You are free to investigate. I just don't have that number you want. My name is on my profile. I clicked it so you can access it.

Reply by Simone E. Lewis on 11/17/06 5:24pm
Msg #160890

Re: See Message 160663

Chris, I maybe a bit late to answer this, like BrendaTX, when I first advertised my services, on line, I paid your signing service and never got any calls. I was registered for one year membership in January 2004, for $69.00??? to your signing service. You are confusing the issues of advertising web page with LoanSigners.com. I did not have a web page then. I had been commissioned since 1996, not necessarily inexperience.

As you stated in message 160663 (Cali-
Besides being a signing service, we offer notary advertising and a personalized webpage notaries can use to advertise their services on our site. Advertising is not free. Webpages are not free. But effective next week they will be.)

When I received your call for a signing in few weeks (not months ago) I had already read the negative comments on this board.

Chris, why don't you stop beating around the bushes and admit that you had no intention of calling any notaries Obviously, paying your company to be registered was useless. Yes, the area is saturated now, but other Title, Lenders, Signing Services and others as Title Gal have found me for an average of 25 signings a month. Either, you don’t advertise your . com address or you are a Thief.

Maybe if We the Notaries tell it like it is, we can get corrupted signing services such as yours out of business.

Reply by Chris von Nieda on 11/16/06 11:01am
Msg #160539

Hi Joan,

We have decided to stop charging for now. Effective sometime next week when we can update our site we will no longer be charging for notaries to be listed with us.

The reasons for this decision have nothing to do with current events.

We are planning for a bright future. We have several investors who are VERY interested in giving us the capital we need to get everyone caught up and continue with our business plans. We are working hard trying to secure a deal ASAP.

For those of you that receive our email solicitations you may recall we mentioned about 6 months ago that we were one of 2 companies that were chosen to close loans the SBA will be providing to the victims of the Gulf Coast Hurricanes. That is still a reality although we are amazed at how long it's taking to get under way. The most recent information is it will kick off Feb. 07. It means a ton of business for us and our notaries if and when it happens. We are going to need many many notaries, particularly in the regions that were hit hardest. So, we want to start building up our database and getting ready for that. We will let you all know when free registration is offically available.

Now to address some questions I anticipate:

If you have paid a fee in the past, there will be no refunds. Please don't ask. We have the right to change our policy as we feel is appropriate.

We were chosen as a SUB CONTRACTOR by another company who actually did the bidding and won the bid with the government. That company has a long standing relationship with the government and solicited us to be their contractor for the signing portion of the process. HOWEVER, we do not have a contract yet and until we do there are no guarantees.

I will not divulge that companies name. Please don't ask.

- Chris

Reply by CaliNotary on 11/16/06 2:16pm
Msg #160574

I'd like to know why you ever charged in the first place. That's certainly not standard operating procedure in this industry.

Reply by Chris von Nieda on 11/16/06 6:41pm
Msg #160663

Cali-

Besides being a signing service, we offer notary advertising and a personalized webpage notaries can use to advertise their services on our site. Advertising is not free. Webpages are not free. But effective next week they will be.

- Chris