Posted by Negrete on 7/31/08 7:40am
Msg #257904

Negrete's Notary Service Inc. ( HAS ALWAYS PAID )

I am only posting here because I don't want a million phone calls.

1) Negrete's Notary Service Inc. has always paid regardless if we get paid or not.

2) Yes, I did do closings for All Reverse Tranactions, and Thank God I did not get to deep into
them with Acct. payable. ( Less than $5000 )

3) Anyone that wishes to call me and discuss this is more than welcome to cal my cell number,
I will answer all calls today after 4 PM EST. 419-961-7153

4) DON'T think for one minute that we would not pay someone a full fee for doing a closing for
us. I saved my monies for days just like this so I would not get a bad reputation like some
of the other NON-PAYING companies out there.

In closing I will repeat myself again, ( we will pay what we owe to our notaries you can count
on that no matter what. And it will be in the 30 dyas like we always have.)

Anthony J Negrete
Negrete's Notary Service Inc.
www.allreversenotary.com

P.S. I don't really care if anyone thinks this is advertising or not, I am just stating my postion on this matter.

Reply by Sharon Taylor on 7/31/08 8:00am
Msg #257905

Tony, your integrety and honor are the best!

And your post should be considered as just what it is - a reassurance to notaries who have done All Reverse Transactions closings through your company that you will honor your commitment to pay them for their work regardless of the hit your company is taking from All Reverse Transactions' non-payment to you.
You were wise not to let them get too deeply in debt with you...but then you've been one of the wisest SS around anyway, with a smart and careful business sense and ethics.
Live long and prosper.

Reply by The Notary National Signers on 7/31/08 8:52am
Msg #257913

Class act n/m

Reply by 101livescan on 7/31/08 9:25am
Msg #257920

Tony, I wish all signing services demonstrated the kind of integrity and ethics that has always been your credo. Thank you for clarifying....our industry has imploded, companies operating on a shoe string can do so no more, in the end they fold up their tents and leave a lot of unfinished business and mess in their camp, leaving a lot of notaries unpaid and discouraged. I was stiffed this year by DocuservUSA in Irvine and 11thHoursignings in Granite Bay, just under $400 between the two of them. I consider myself fortunate not to have more as others have. One must ask a lot of questions before saying YES to an order from a new company out there. In my part of the world where loans are still being made, I proceed with caution. Not so quick to grasp a straw because you can't trust everyone who calls with signing offers.

Have a good one, Tony. It is always a pleasure to accept work from you. Thank you for this post!

Reply by Deborah Huffert on 7/31/08 10:21am
Msg #257929

I've always enjoyed working with you and thanks for the encouragement.

Reply by Gary_CA on 7/31/08 10:30am
Msg #257933

Your bean counter is happy I haven't worked for you...

After taking half pay for lots of unfunded signings. Agreeing to no pay for one or the other crying loan officer and giving up on a couple (not many mind you)

...well hell...

If I got a check from a signing service like you that paid me like that (Lucy Sweet comes to mind) and I knew you had eaten 5 grand...

I'd put that check directly into my Graham-Leahy compliant shredder.

I little bit to help you and drive the bookeeper wild.

illegitimi non carborundum.

Reply by Calnotary on 7/31/08 10:50am
Msg #257941

Gary...

Despues de leer tu "post" me lo podrias traducir a Espanol ya que lei en tu ficha que hablas el castellano perfectamente sin usar ningun traductor en la red?

"After taking half pay for lots of unfunded signings. Agreeing to no pay for one or the other crying loan officer and giving up on a couple (not many mind you)

...well hell...

If I got a check from a signing service like you that paid me like that (Lucy Sweet comes to mind) and I knew you had eaten 5 grand...

I'd put that check directly into my Graham-Leahy compliant shredder.

I little bit to help you and drive the bookeeper wild.

illegitimi non carborundum."

LOL!

Reply by Loretta on 7/31/08 10:56am
Msg #257943

If you all notice

It's not even a matter of being "selective" of which companies that we do closings for. It's not just the cheap rat in the corner trying to run a signing service at our expense, it's the big rat in the big armchair that is taking our money and the national lenders money and running out the door.

Almost makes me wonder if the feds will come in and run the lending business and will use government employees to do everything. Title companies are killing us.

Reply by Philip Johnson on 7/31/08 11:06am
Msg #257948

Bureaucrats in charge now that will grind the system to a

halt. Loretta just imagine talking to your local DMV or Postal window worker about getting paid? People who for a lack of a better term have "tenure" and most likely could or would care less about the quick delivery of your payment.

Reply by Gary_CA on 7/31/08 11:33am
Msg #257957

Con gusto

De poder puedo.

Pero me da tal flojera ... por eso me hice notario público, para ganar el "dinero fácil".

Tengo una condición...

Cuando duermo me da un hambre... y cuando como, me da un sueño.

Reply by Calnotary on 7/31/08 11:36am
Msg #257958

Re: Con gusto

That was funny Gary! I see many notaries here in my area that advertise their services as 100% bilingual y no saben ni papa de lo que estan hablando, me da gusto que tu no seas uno de ellos. Saludos!!

Reply by JanetK_CA on 7/31/08 11:49pm
Msg #258065

Re: Con gusto

¡Y saludos a tí, también, Calnotary! ¡Qué chistoso, los dos de ustedes! Cuidado con esta flojería, Gary… Creo que voy a tomar esta frase según dormir y comer... ¡Sufro de lo mismo, creo!

Reply by LynnNC on 7/31/08 11:03am
Msg #257947

I just called All Reverse Transactions...

...and Becky, who answered the phone, said that in spite of what is going on with LFC, they are not going out of business and are still doing reverse mortgages.

Reply by Philip Johnson on 7/31/08 11:10am
Msg #257950

And Becky is? I'm sure those were the words given out

on Monday by LFC by the underlings when folks started calling about their bounced checks. The only words that come to my mind is Carpe Diem.

Reply by Loretta on 7/31/08 11:26am
Msg #257954

Re: And Becky is? I'm sure those were the words given out

When did it become acceptable to hire someone and have no intention on paying them. That is what title companies and signing services do every day.

Like working at Walmart and wondering if you will get a check at the end of the week. EFS and LFC knew when they sent out checks that they were in trouble.

Reply by BrendaTx on 7/31/08 11:36am
Msg #257959

I agree Philip. ART Reverse signing check bounced

for a network member. I posted that earlier.

Reply by Dorothy_MI on 7/31/08 1:49pm
Msg #257978

Could any of this be because of the Indy Mac

and the two other western banks that folded. Only the firt 100K of your account is covered. Have you seen very many loans where the title company didn't have to pay out more than that? They could have lost literally millions of $ when those banks closed. Statiscally over 2/3 of monies in any bank are covered because they exceed the 100K threshold. I'd be willing to bet that any mid size company can at any one point have more than 100K in their account (think just about how large payroll accounts are). I'm not saying that this is the reason LFC closed, but to my mind it is the most logical. And if it is the reason, we all need to send Mr. Chuck Shumer (sp) D-NY a big thank you note.

Reply by BrendaTx on 7/31/08 7:49pm
Msg #258026

Re: Could any of this be because of the Indy Mac

**They could have lost literally millions of $ when those banks closed.**

I'm not sure that they have the same kind of set up that the rest of us do with FDIC. Just a guess but I would think they have private insurance covering wire transfers or other considerations for funds.

Before loan funds hit the final account I suspect that could be pulled from any number of sources and transfered around three of four times. It's not really like there's cash sitting in a bank waiting to be funded...a lot of it is on paper.

Maybe someone with more actual knowledge about finance could shed some light.

The loss of income from IndyMac likely hurt the title companies handling their huge loan accounts.

Reply by NCLisa on 7/31/08 8:25pm
Msg #258032

Mercury closed because their syndicate of banks

pulled their equity line that they were using to keep ALL their businesses afloat. ART may be opened today, but as soon as the last RM closes, I bet they shut their doors.

Reply by jba/fl on 7/31/08 8:28pm
Msg #258033

Re: Could any of this be because of the Indy Mac

When I worked for a law firm in finance , many many moons ago, we had many bank accounts, mostly used 4: general operating acct, escrow acct., trust account and money market acct.

General operating if for the daily run of the mill stuff: expenses associated with running a business. This money not static: if too much in, out it would go to other accounts to make money: t-bills, money market, etc.

Escrow acct: retainers for future services, down payments for RE transactions, money to be used in the future for whatever reason, a set-aside if you will.

Trust acct: RE disbursements. Money came from Escrow plus whatever else necessary from buyer/seller to balance the settlement statement (money brought to table)

Money moved from escrow on day of closing, plus funds brought to table, to trust acct. After signing, all checks and wire transfers distributed and taken to bank for payments.

This is only one firm, and who knows if this is the way it is done today. I assume so, but you know how to divide that up LOL