Posted by DCD/MI on 6/19/07 3:15pm
Msg #195804

Velocity Signings under new ownership....Should I?

Today I agreed to do a signing for next week (love the advance notice, that never happens), but then looked up info. on them being slow/no pay so I sent an email politely declining since they have a reputation, etc. But would agree to do it if I were paid up front via Paypal. Her response was that I had her personal guarantee that I will be paid within 15 days, and that Velocity is under new ownership (they also own 1st Olympic Settlement Services and they've never been late paying anyone). Sure I'd like to give the new owners a chance, but I've got at least 4 companies that owe me money now and really can't afford the risk. WWYD?

Reply by Todd Atkins on 6/19/07 3:26pm
Msg #195807

I would consider giving them a chance. Get the owner's name - not that that's any leverage. If they screw you again, go legal.

Reply by DogmongerCA on 6/19/07 3:27pm
Msg #195808

I am guessing that they booked you for Monday or Tuesday

the 24th or the 25th. Last days of the month to fund for non self funders, and self funders. More than likely because of their bad pay reputation they are trying to lock someone up to close the loan. Am I getting warm???? Have no idea about this company, but have certainly heard this line before. Proceed with caution, and if you take the job, make sure that you start hitting them right between the eyes at day 16. JMHO

Reply by Todd Atkins on 6/19/07 3:37pm
Msg #195811

Trouble is ...

when it gets slow like this, you say yes to about anything.

Reply by DogmongerCA on 6/19/07 3:56pm
Msg #195818

So why sell yourself short on the last day to sign

with a company who has a history of slow or no pay??????????

Reply by DCD/MI on 6/19/07 3:49pm
Msg #195816

Re: I am guessing that they booked you for Monday or Tuesday

Yep, Monday. This is a very rural area so IMO these companies would be doing themselves a huge disservice by not paying. There aren't many notaries here. I guess I need to remind my other companies that owe me of this.

Reply by MICarole on 6/19/07 5:34pm
Msg #195833

Re: I am guessing that they booked you for Monday or Tuesday

I live in a rual area, the signing I did in February was 30 north from me, also rual, didn't seem to matter, I still haven't been paid and Velocity was paid months ago.

Reply by 1st Olympic on 6/10/08 5:01pm
Msg #250712

a note from 1st Olympic

1st Olympic Settlement Services actually has no affiliation with Velocity. Our management was considering buying out Velocity but due to their poor reputation decided not to. 1st Olympic has a good reputation for paying their closers so please disregard this post noting the affiliation with Velocity because it does not exist.