Posted by Stamper_WI on 7/25/07 12:46pm
Msg #201715

LO/Notary

RE:
Msg #201636

Do the LO's that also work as notary/signing agents get any flack about it from other lenders? That is like sending the competition in to sell or unsell your loan. Or am I over thinking this?

Reply by cntrlcalntry on 7/25/07 12:53pm
Msg #201716

I was originating R.M.'s in addition to my notary work for a while. When I was called for a R.M. I just let them know up front that I did do both but kept them very seperate and I only had one company that declined my service.

Reply by Margaret_FL on 7/25/07 1:11pm
Msg #201720

The company I do applications for knows that I am a loan officer for another company. They do not have a problem with it. I came highly recommended and they know my reputation. I assured them I would never unsell their loan. They actually thought is was a plus since I can answer all their questions. I am also not there as a notary, nothing needs to be notarized at the application appointment. They want notary signing agents because they are familiar with these documents. There are 32 pages and only 18 signatures.

Reply by Todd/OH on 7/25/07 2:31pm
Msg #201738

In Ohio, many LO's are also notaries but they don't work for anyone else.

Reply by Charles_Ca on 7/25/07 2:45pm
Msg #201747

Its simply a matter of ethics ;), no problems for me! n/m

Reply by John_NorCal on 7/25/07 3:42pm
Msg #201767

Ditto! n/m

Reply by JamesLee/VA on 7/25/07 3:03pm
Msg #201756

No problems here as well. I find that the title companies I work with are happy about it. I think the LO's who try to unsell the loan may be successful a few times, but it will eventually catch up to them. Besides the client most likely has developed an relationship with their Lo (hopefully good) and would not switch. I know none of my clients would switch at the end of the deal.