Posted by ohionotary on 5/19/08 2:47pm
Msg #247858

FYI - Signings w/WAMU As The Lender

Just thought I'd give a little heads up as I just found this out. I did a signing for Settlement Corp. with WAMU as the lender. I was told that I would have a "few" pages to fax back as a lender requirement. Well, a few turned out to be 42 pages and the only fax number I had wasn't toll-free. Needless to say, I wasn't happy.

If any of you get a WAMU loan, make sure to add on extra charges for the faxbacks. I was lucky (this time) to get compensated for it only because Settlement Corp's WAMU rep guaranteed I would get paid extra when I called to complain. Otherwise, SC doesn't pay you anything for faxbacks. I don't mind faxing a few pages, but this was nearly half of the doc pack.

Reply by ME/NJ on 5/19/08 3:07pm
Msg #247862

Have to say the WAMU's with Sett Corp do suck

They are one of my better clients and hate it when I see WAMU as the Bank. Means I need to fax back 70% of the package back.

I make up for with all the Citi work I get. Guess you need to take the bad with the good and they are a large volume client.

Reply by DebbieT on 5/19/08 3:33pm
Msg #247863

Re: Do you have scan back capabilities? If so

get an email address that you can just email them back to.

Reply by Lee/AR on 5/19/08 4:02pm
Msg #247865

Re: Do you have scan back capabilities? If so

No matter how it's done, it still takes more time & work to do. It's an added service for which we expect to be paid. Period. Nobody else does extra work for no pay. BTW, I was told NO faxbacks; then came the docs w/42 pages of faxbacks. They waived the faxbacks.

Reply by spnotaryplus on 5/19/08 4:46pm
Msg #247868

Re: Strange.......... but

I am kind of curious about the fax back comments for WAMU loans here on the board. I have worked for WAMU in the past and recently as an employee not a contractor with one of their offices in NY which just closed at the end of April. Anyway, I happen to have a copy of their fax back requirements form and I do not see where the fax backs add up to more than maybe 15-20 pages at most. Now I created these forms for all the areas we covered which was nationwide. I scheduled closings and asigned them to some NSA's and the fax backs were at minimum only the standard funding docs (TIL, NOTRC, Sign pg of Note, 1st and last Pg of Mtg, Deed and Riders, AIV and Wire forms.

I agree it is an extra step but I normally would receive the required docs via e-mail and never counted more than 20 at most and funded loans on these documents. I wonder if it is more the SS that hires us or the title companyy who uses the SS and asks for more where WAMU actually does not ask for 50-60 pages of fax backs.

Just my 2cents.

Reply by Lee/AR on 5/19/08 6:50pm
Msg #247877

Re: Strange.......... but

I do think you're correct in assuming it's really a particular SS or TC thing as I do WaMus for a few and not all want this nonsense. It's just hard to keep them all straight or deal with the 'after you asked & been told', the opposite happens. I don't take it--they either fix it or they can find someone else.

Reply by Carole Breckbill on 5/20/08 8:06am
Msg #247912

Re: Strange.......... but

You note the "first and last page of mtg" - quite often we're asked to fax back the "entire" mtg . . . why is this necessary? Surely the first and last page should be sufficient!

Reply by ohionotary on 5/19/08 4:58pm
Msg #247870

Re: Do you have scan back capabilities? If so

I wish I did. My scanner's old & doesn't work. I haven't taken the time to get a new one.

When I spoke to Settlement Corp, they told me the faxbacks were a lender requirement. Was he BS'ing me?........who knows. That's just what I was told.

Reply by Dennis_IN on 5/19/08 4:58pm
Msg #247871

I do add a little for fax backs, not due to the faxing but for the time and the extra trip required to ship the pkg. I have a sheet fed fax and unlimited LD calls so non 800 #'s don't bother me. Always ask the right questions when you are scheduling a job and you won't be suprised.

Reply by Joan Bergstrom on 5/19/08 10:38pm
Msg #247883

What is a sheet fed fax?
Thanks

Reply by MistarellaFL on 5/19/08 10:51pm
Msg #247885

What is a sheet fed fax?

I thought all faxes were sheet-fed...meaning that you can feed multiple pages into it, like a sheet-fed scanner vs a flat-bed scanner.
I don't ever recall seeing a fax machine that wasn't sheet-fed.
Maybe I am wrong....