Posted by NCLisa on 2/1/08 1:32pm
Msg #233599
Just turned down a Kensington Title Closing after reading
their notary agreement. It now says they will only pay $50 if the borrower cancels. It also says the notary is required to wear a SUIT JACKET and had a nice little checklist that says you must check the doc off immediately after it is signed. My favorite part is you are not to leave the borrowers home until you speak with a live person, not voicemail. It must be fun for those that have time to kill to wait for one of 2 people to call you back and say you can be on your way now especially at after hours closings. I haven't done anything for them in quite awhile and was shocked to see that agreement.
I know there are some bad notaries out there, but these kind of requirements really make my blood boil!
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Reply by Les_CO on 2/1/08 4:47pm
Msg #233650
Lucky you! I just did one for Kensington. (I posted on this board first, some bad some good…well, mediocre responses.)
MY story: They agreed to my fee ($150...on the HUD) said would only pay half if loan does not close. (I have less than one in a hundred not sign). so I gave it a shot. Well, HUGE package over 400 pages with borrowers copies… mucho superfluous junk docs…three HUDS…all different??? 7% loan, FHA, 30 years.(What’s the current rate for insured 30 year loans??) One HUD borrower zeros out, other HUD she comes up with almost five grand. WHAT????? OL calls at signing, says “Don’t sign the HUD, we will send a corrected one in the AM. This ‘new’ one will save her some money.” I ask to speak to LO, I say she’s already signed (all) the (different) HUD’s. He says: “Pull the unsigned HUD (s) out of her (package) and take the signed one(s) and leave it (them) with her.” WHAT?!!! I say “If title wants an unsigned HUD why not just tell then to print off a copy?” No, he didn’t want title to have (one) the signed HUD’s. I talk to the borrower, she says she’s not about to come up with $4700 (that she had never heard about) to close… But she signs the docs, (I say you can resend, or maybe the LO will send you the corrected HUD tomorrow, it is not notarized, so IF it’s okay (and what you want) you can just go forward with the loan.) So…. I get late (incorrect?) docs, have to reset the appointment, print off over 400 pages, drive across town at night in a snowstorm, spend more than two hours with a confused borrower, and a snaky LO on the phone, plus call Kensington (twice) and get to jump through their stupid hoops,( I don't mind about the 'dress code,' I always dress business) then send the package back, probably all for free. Yes, I suppose it’s not titles fault if the LO is a moron, but if the lender, hires these idiots, and all their loans all go south, maybe someone there (at Kensington) should look for a different type of customer? I’ve done my last one for them. I’m a “NSA” not a “Fluffer”!
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Reply by CopperheadVA on 2/1/08 6:11pm
Msg #233675
I did one for Kensington in 2006 (well, it was a no-sign twice and then the guy finally did sign on the third try) and one in 2007 that was so screwy, and the ID for the borrowers was not in order, to the point that I suspected the ID was fraudulent, so I refused to notarized and left docs with borrower as instructed by Kensington. I have no idea what happened after that - I think they were going to try and get another notary. I certainly did not want my name and notary stamp all over that deal. I decided that was my last for Kensington. Now when they call I just let it roll to VM.
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