Posted by MC_oh on 4/27/07 10:26am
Msg #187331

Background check update

Just wondering, has anyone who did not submit to a background check noticed a significant loss of business. And does anyone credit the loss to this reason, or the Loan Market.

Reply by SueW/Tn on 4/27/07 10:30am
Msg #187332

No difference

April is down about 10% compared to last year, don't know what to attribute that to but have lost no companies due to the BGC.

Reply by ME/NJ on 4/27/07 10:40am
Msg #187334

Companies that use me have not requested one and even some that say they need one have asked for closings.

As far as judging if business has suffered because of it? This has been a wacky year and there are so many other factors to why business has suffered in 2007.

Sub Prime gone bad
Housing Market prices drop (depending where you live)
Flooding the market with Notaries (thanks NNA)
TC cutting back
SS going bad
Cost of doing business

Just a few reasons why 2007 is a tough year for alot of us.

Reply by Lee/AR on 4/27/07 10:43am
Msg #187335

No, I have not noticed any loss of business due to refusal to obtain or support XYZ's CBC. Matter of fact, I've seen an increase.... and this will just knock your socks off: (No, I will not name names--figure it out for yourself.) I recently received an order from a co. that I've done business with in the past, but not much recently, due to 'fee issues' (mine-they're too cheap). They are finally meeting my fees again. They are one who supported XYZ's CBC... AND they now have added the only wording that the actual GBLA contains to their CO. (basically, a 'privacy agreement' --I accept the work/I accept the agreement--AND authorize them to do a BGC, 'as needed'. Which is the Simple Solution that XYZ ignored. Note that said BGC is NOT at my expense. Interesting, yes?

Reply by MC_oh on 4/27/07 10:48am
Msg #187336

That's incouraging to hear. Other industries that are affected by the GLB act use the same practical approach.
It would make sense if all those companies that want an independent contractor agreement signed just add in a confidentiality agreement.

Reply by Kevin/Ct on 4/27/07 10:49am
Msg #187337

We have not experienced any problem. In fact, our closing volume is up 600% since last year at this time

Reply by VBNotaryVA on 4/27/07 2:42pm
Msg #187441

It's never even mentioned and calls are up.