Posted by Terri/Fl on 12/4/08 1:07pm
Msg #271102

LSI....BGC....Holiday Insensitivity! Bah, humbug..SCROOGE!!!

I've been closing loans for LSI for 6 years.....have closed hundreds of loans for them in 6 counties. They wants us to take a reduction in closing fees and to top it all off NOW they want a BGC that will cost us $30 to $40 dollars and OH.....by the way just days before Christmas!!
What??? We're in the middle of a recession.....business is off by 85 to 90% and most closers are barely keeping their head above water. I am so digusted by their insensitvity and this BGC is nothing more than a MARKETING TOOL......so LSI can go after new lenders and STATE..
..all our signing agents have passed a BGC.....does your current title company have signing agents that have passed a BGC? There was a whole BGC mess that happened with LSI
several years ago....maybe 4 years ago.....and they wanted us to pay for the BGC....now they say if the previous BGC is over 2 years....it is no longer acceptable. Sounds to me that someone from NNA.....is out trying to get title companies to require BGC.....so NNA is filling their pockets. There is a very good reason most signing agents want nothing to do with NNA, they only care about money.....not signing agents.....ask anyone who has been in the business for some time. LSI tells me I one of their top closers.......geez I past their requirements in years 1-5, and closed hundreds of loans...now in the 6th year.....I need a BGC right before Christmas......Scrooge is alive and well.....and now known as LSI!!!!

Reply by Calnotary on 12/4/08 1:20pm
Msg #271103

I do not know how the NNA bgc is but in CA we get Livescan fingerprinted for DOJ and FBI, so Im not doing their bgc, I am not getting that much work from them anyways.

Reply by Glenn Strickler on 12/4/08 1:54pm
Msg #271107

I still have not been asked if I have a BGC including

LSI. It may be because of the mandatory FBI and DOJ check done here in CA in order to receive a commission. LSI called me last week and wanted me to go 200 miles round trip edoc signing for 100 bucks. But they didn't ask me for a BGC. I was probably removed from their data base when my first response was "You are kidding, right?"

I do believe that well known association is attempting to gain a monopoly in the industry. But of course, that is just my opinion and only my opinion.

Reply by Bob_Chicago on 12/4/08 2:19pm
Msg #271111

I just faxed them my NNA CBC. I feel your pain as the the .

current state of NSA finances, but I do not believe that cutting
yourself off from one of the largest consumers of NSA services
is the best way to increase your income.
The issue has been discussed to death here, but the clear message is
that CBCs are required by many lenders and TCs.
LSI is not requiring a NNA check, but that is just one alternative.
Like it or not, the NNA seems to be the industry strandard. Yes , I would
prefer that NNA let you get just a CBC without paying for taking or retaking the
certification exam, but that is just the way it is. I have also obtained for the NotRot CBC.
I like my nose just fine where it is, and do not see the point of cutting it off.
I do not feel that it is unreasonable to ask for an update after two years.
The cost is not that great, and administrativly, it is easier for a TC to
require a CBC from all NSAs, as opposed to them checking the status of each
state's notary rqmts. Illinois, for example , requires less than $50 and a pulse to
be a notary.

Reply by Glenn Strickler on 12/4/08 6:13pm
Msg #271136

Bob, a TC needs to know the laws of the state they are

doing business in. They know the requirements of the state when it comes to a notary. Some of the same TC's and lenders mentioned here as asking for BGC's I work for on a regular basis without ever being asked if I have one. So they must know the states requirements to be a Notary Public.

I have also been hard pressed to find a notary in my area that has been a notary for a few years that still belongs to the NNA. They mass mail the newbies, so they join as I did. But when you get wrong answers to questions, have supply orders screwed up, can't get your profile right and don't get any calls from their listing service, well, it just wears thin. It would be interesting to know what the average experience of an NNA member is. I would bet a month's income that it is considerably lower than the average experience on this board, or the notary community in general.

When I was sitting at a local title company a couple of years ago working on some loans for track housing (good old days), I was contemplating renewing my NNA membership, so I asked them what being an NNA certified notary means to them . They said it means you are a new notary without much experience trying to sell your services.

Of course, this is just my honest opinion .....

Reply by Marian_in_CA on 12/4/08 9:18pm
Msg #271144

Actually, LSI said that they would give priority to

those with the NNA check, though they would accept others.

I have the NNA check, but someone else paid for it for me. We all know it's essentially worthless, but unfortunately, others are completely impressed by it. In fact, I've found that the NNA background screening brings me business... just not notary business. I also do virtual assistant work, and those people appreciate the screening and he fact that I use that icon. They have no idea that the state of CA has already pushed me through DOJ and FBI checks.. and that the NNA check is a bit questionable.

It's kind of like how people think the BBB actually cares about solving business complaints for every business. They don't. Complain to the BBB is useless unless the company is a member of the BBB and wants to maintain their membership. Despite the reality of it all, BBB still means something to a lot of people. So does the NNA.

Reply by Claudine Osborne on 12/4/08 9:58pm
Msg #271148

Re: Actually, LSI said that they would give priority to

I wrote to LSI yesterday asking to have my background screening (done by Not Rot) approved.

I received a reply today..It is approved!

It is much cheaper and I feel I got a lot for my money with this screeing. I like using the logo on my profile and your credentials can be instantly verified. The optional paper certificate is also worth having and it is 3 pages long(very detailed) verses 1 page from other sources.

Reply by Marian_in_CA on 12/4/08 11:18pm
Msg #271152

Re: Actually, LSI said that they would give priority to

I agree about the screening offered here. I've been contemplating having it done myself in the next couple months just as a marketing tool. I like that they actually verify things like that status of your commission and such. Of course, it's only good for 2 years, just like the NNA's screening. IT's more expensive and much more detailed...which is good. I know that for me it seems redundant... having passed the NNA check (ha) and the CA one as well. So, the screening itself is pretty much useless...but as a marketing tool it might be helpful.

Reply by goodgirl on 12/5/08 9:45am
Msg #271162

I agree with you 100%. I signed up with LSI 5 years ago, and NEVER got one call from them, but I continue to receive their worthless, inflamatory e-mails. So, my point is - I got this one, too.
I have done work for many companies over the past 5 years. I've always done a fine job for all of them, and the few complaints I have had occurred because of shady LOs, downright NASTY borrowers who were in a pickle and couldn't figure a way out, so they took their frustrations out on me, and TCs who did shabby work because they hired morons at minimum wage and expected them to be rocket scientists.
I drive an older car (which I take good care of) and live in a very small house in the country. I never made big money doing to job, but I somehow survived.
These companies who expect their closers to start shelling out money now for something that is ludicris anyway - after the closers have worked for them for years, and have done an excellent job for them, is assanine!
I've had a number of incidents where borrowers' identities have been compromised by employees of TCs and lenders. Do these companies background screen EACH AND EVERY employee who works for them from the receptionist to the janitor... I think not.
These companies need to clean their own houses first.

Reply by TRG_wy on 12/5/08 3:56pm
Msg #271192

forego the BGC/CBC

There is NO requirement in the often cited Gramm-Leach-Bliley Act for any one to be requesting/demanding we under go the check. This act of 1999 only requires them to ensure customer privacy.

Someone along the way in the fast very recent years, decided that a BGC was a good idea and most people being followers rather than leaders decided to go along with it.

The simpliest way to achieve what the Act (or any other requirement on individual privacy issues) requires is to just have a signed non-disclosure agreement from anyone that might have access to nonprivilaged information. All these are stated on the FTC and other governing bodies websites.

I repeat again - no where does it state that a background check is required. A BGC/CBC is only a snapshot in time. It does nothing after the fact. A signed nondisclosure agreement is a permement record and can be used to hold you personally and criminally liable should you decide to become an evil person and disclose what you are not supposed to.

Reply by Lee/AR on 12/5/08 4:08pm
Msg #271193

Finally...someone who actually 'gets it'. Hooray!!! n/m

Reply by jba/fl on 12/5/08 7:21pm
Msg #271206

Re: forego the BGC/CBC

I have thought this all along! Yes, finally someone else who 'gets it'. Thanks for sharing your insightful comments.

Reply by MW/VA on 12/5/08 8:19pm
Msg #271208

Re: forego the BGC/CBC

Thanks. I think your statement is absolutely correct. The problem is that the NNA did a good job of marketing (to tc's & us) that the GLBA & a bgc were connected--not!

Reply by Claudine Osborne on 12/5/08 10:28pm
Msg #271216

Re: forego the BGC/CBC

Your post was very well stated! I think a lot of us "get it" but the companies are the ones that dictate to us what they require of us!