Posted by Karla Stevens on 5/19/08 12:23pm
Msg #247832

Countrywide

I was just informed by the Operations Manager that Countrywide FSL will no longer be able to request notary services for loans originating in May.....that notary services will be requested through their national title and escrow providers...a list of about 9 or 10 were provided to me so that I could register with them.

Anyone else heard about this? I'm in the Seattle area but wanted to know if anyone has had a positive experience with working through all these provider companies.

Reply by Derrick/MT on 5/19/08 12:30pm
Msg #247833

Can you provide the list?

Reply by dickb/wi on 5/19/08 12:33pm
Msg #247834

all of my country wide closings have come.....

through title co's or ss..........i have never done one direct from country wide......over the last couple of months about 85% of my closings have been country wides.....from what i have heard about payment problems from country wide i would rather work directly with the title co's.......

Reply by HudsonBayCA on 5/19/08 12:39pm
Msg #247835

Re: Countrywide (Bank of America) - Need list too

I have been doing signings for Countrywide through Bank of America. I too would like a copy of the list you were provided.

Reply by Karla Stevens on 5/19/08 12:45pm
Msg #247836

Re: Countrywide (Bank of America) - Need list too

This is the info I know.....all escrow/title/closings must be completed through these companies
www.fnf.com, www.servicelinklp.com, www.silktitle.com, www.lineartitle.com, www.landam.com, www.lendersfirstchoice.com, www.nationsls.com, www.newmilltitle.com, www.nreis.com

Apparently, it is up to the notaries to get associated as approved notaries.

I have no idea about the notary fees that these companies will pay. I currently bill out my Countrywide office at $225 per signing....and they pay extremely efficiently through the title companies that were used but now, the title companies must be on the approved list as well...so everything is changing.

Reply by ME/NJ on 5/19/08 1:04pm
Msg #247837

Karla you won't get that fee with most of TCs you listed

most of them are lowballers.

Reply by Susan/CA on 5/19/08 1:12pm
Msg #247838

Re: Karla you won't get that fee with most of TCs you listed

Yes, ME/NJ is right .. most of these companies are low ballers. I finally got my call from Service Stinks . . they want me to lower my fees to like 45.00 for over nights and 65.00 for email docs. I told them no way. I will stick with my fees and lose business. So if your willing to go that low . . you will get business, but you will eventually go broke. We all know the drill of costs so I won't repeat it. But boy does this get more discouraging by the minute!

Reply by Karla Stevens on 5/19/08 1:20pm
Msg #247840

Re: Karla you won't get that fee with most of TCs you listed

I won't go that low.....it's the Notaries who are willing to go that low who are ruining it for all the rest of us. I understand that I won't get $225 per signing or anywhere near that through TC, but we should be paid for the professional service we provide....especially with the increase in gas/etc.

Reply by Alice/MD on 5/19/08 1:43pm
Msg #247846

Re: Karla you won't get that fee with most of TCs you listed

I ask everyone who want to lower my fee ... would you rather have our state be an attorney state? Have they lower their fee?

Reply by Dawn/PA on 5/19/08 1:42pm
Msg #247845

Re: Countrywide (Bank of America) - LFC

Called me Friday for a signing tonight for a Country Wide Full Spectrum - Price quoted to me was $80 for e-docs and faxing back of the entire package. Needless to say, I am staying home tonight.

Reply by Rachel/ORWA on 5/19/08 2:06pm
Msg #247852

LFC: got similar call for $80 edocs

When I quoted my fee, I was told they'd have to pass it on to a SS, as they couldn't meet that fee. So some notary is going to do this for even less??! Apparently so.

Reply by Les_CO on 5/20/08 8:01am
Msg #247910

Re: LFC: got similar call for $80 edocs

There are many NSA's out there "doing it for less" If they weren't, the likes of LFC and FASS would HAVE to pay more. Do you think the $50 e-doc signing you turn down just goes away?

Reply by Carole Breckbill on 5/20/08 8:10am
Msg #247915

Faxing back the "entire package" ? !!! n/m

Reply by Cheryl Elliott on 5/19/08 1:45pm
Msg #247847

I would love to have a copy of that list...most of my work comes from title and escrow for CHL packages.

Thanks in advance.

Reply by MW/VA on 5/19/08 1:45pm
Msg #247848

Yes, the talk lately has been that CW will only use NATIONAL TC's. It means a loss of business for other TC's/SS's that were getting some of that account. I know there are more companies than you listed, because I was contacted by one in PA the other week. I'm sure there was another set of posts on this. As far as NREIS is concerned, they pay $90 w/edocs & won't budge on their fees. I was taking those based on volume, but haven't gotten a lot of work from them the last two months. Again, there is a major shift taking place in who will be handling CW closings. It might be good for we notaries, though, as the co. in PA in paying much more than NREIS. They are also much more demanding, requiring faxbacks & a 3rd copy/split package thing.

Reply by MW/VA on 5/19/08 2:12pm
Msg #247855

I'm also feeling the bite in my business since there have been fewer CW loans coming through. They accounted for a large percentage of the overall business. Some of the ones I've seen come through raised big questions in my mind. Apparently, they are underwriting
loans on investment properties faster than owner-occupied. Also, almost everything is coming through with MIP.

Reply by Lee/AR on 5/19/08 2:12pm
Msg #247856

B-bye CW...until you get real. n/m