Posted by SheilaSJCA on 11/11/08 6:05pm
Msg #269469

this guy needs to be put in his place

I posted a rebuttal to this post on activerain:
http://activerain.com/blogsview/781579/YOUR-PREDATORY-MORTGAGE-LOAN-MAY-
Then the blogger deleted my reply and reposted his blog with out it.
I have asked others I know, to add their 2 cents.
He seems to think that mobile loan closers "lack the experience necessary to properly discuss and disclose the many documents contained within the closing package they are given by the mortgage lender." etc...
lets set him straight!

Reply by Marian_in_CA on 11/11/08 6:23pm
Msg #269471

Wow... this is the part that made my eyes bug out:

"Although most of the ‘Mobile Closers' are very capable and professional, the required knowledge to properly close a mortgage loan is missing, putting them at a disadvantage as well as the borrower. It is this lack of knowledge that is creating a whirlwind of lawsuits across the country."



I'm speechless. And that doesn't happen very often. This is one of those times where I just want to stare at the guy and say, "Dude... what are you smoking?"

Reply by Linda_H/FL on 11/11/08 6:40pm
Msg #269472

God forbid the LO's or mortgage brokers should shoulder

any of the blame here...

Reply by Negrete on 11/11/08 6:43pm
Msg #269474

My comments on active rain.

Mike, I understabd exactly what you are talking about.

I am however the owner of a Nationwide Signing Service that did 1000s of loans over the last 5 years. Most where originated by out of state Mortgage Companies. Never ever did I send a Notary Signing Agent to a borrowers home without any of the documents mentions in your blog.

I do not know what your motivation is behind this blog. I am sure that there where some L.O.s that did in fact do just what you are talking about, but I am also sure that all of the honest and knowledgeable Notary Signing Agnet that worked in this industry the last 5 years DID NOT do what you are talking about.

Reply by Linda_H/FL on 11/11/08 6:56pm
Msg #269477

Tony - where did you post it?

It's not showing up under the blog.

Reply by Negrete on 11/12/08 8:14am
Msg #269501

Re: Tony - where did you post it?

Look up this fellow name and then look up the phrase below hi name.


Sikorski

Rescind Your Mortgage Loan and Save Your Home From Foreclosure!

Reply by MikeC/NY on 11/11/08 7:02pm
Msg #269478

He does have a point, up to a point...

This is the gist of the whole argument about the $50 NSA - people who have no clue about what they're doing are getting the work simply because they will do it cheaper. I don't think he has a problem with mobile loan closers per se; in fact, he did say that a lot of us know what we're doing. He's misdirecting the blame, however - it's not the incompetents that are causing the problem, it's the companies that hire them in order to save a few bucks.

Also, as far as lacking "the experience necessary to properly discuss and disclose the many documents contained within the closing package they are given by the mortgage lender" is concerned - that doesn't take experience, it takes knowledge. Part of that knowledge is understanding the difference between "discussing and disclosing" and advising - knowing where the UPL line is and knowing when you're about to cross it. Every signing I do, I make sure the borrower knows what the document they're signing is for; if they have questions about how it applies in their situation, I refer them to the LO or the TC for an explanation. I think that's what you need to do if you're going to be a professional - understand the process, provide information, and know where your limits are.

Finally, as far as his comments about telling the borrower to use the RTC period to review the paperwork - I don't understand his problem with it, because that's exactly what the 3-day cooling off period is intended for. What else are they supposed to do during those three days - meditate?

Reply by Claudine Osborne on 11/11/08 9:14pm
Msg #269486

Re: I have left my 2 cents..

I left a comment with this guy, makes me mad when we get blamed for wrongdoings of others..Let's see if he deletes my comments..Another point to consider..This is driving traffic to his site is it not? This is also marketing and advertising!

Reply by pat/WA on 11/12/08 11:51am
Msg #269525

Re: He does have a point, up to a point...

If I understand all of the protests from the QUALIFIED notary signing agents, we are to believe that all borrowers are STUPID and that notaries must explain each document to them. I have been doing signings for 6 years and for the most part I find borrowers are better informed than the lenders about what they are signing.
Just a thought.

Reply by MikeC/NY on 11/12/08 6:59pm
Msg #269578

Re: He does have a point, up to a point...

I didn't say I explain every document to them - just that they know what it is they're signing,and that can be as simple as identifying the document. I've found that in many cases it eliminates the need for them to read every line of every page before they sign.

I don't think they're stupid, but I also don't assume they know what it is I'm putting in front of them for a signature. Sometimes they have questions, and if I can answer without crossing into an area I shouldn't be in, I do so.

Reply by LindaP/OH on 11/11/08 9:24pm
Msg #269488

Judging by his post, it's quite clear this man has little regard for us lowly signing agents; although I am not sure he actually wrote this article or what his motives are. If you look under "Mike's Blog" you will see that he has posted several different articles regarding this industry; look at the times these articles were posted. If, in fact he actually did write these, me thinks the man has way too much time on his hands and needs to get a real JOB. HIs position on the miserable situation we are in now is clearly biased--we have nothing to do with the structuring of the loans, we all know who does--its disturbing to hear that someone in his position would be soooo far off!!! The purpose in degrading us???

Reply by Becca_FL on 11/11/08 9:34pm
Msg #269489

Although, I'm quite sure he will delete my post much like Leon/CO (Captain Obvious) does when I post to his blog. Some people just don't want to hear from others with an opposing view.

Here's my response to Mike the all knowing realitter/broker...


Ya know, Mike,

You're entire post blames the facilitator and not the originator and I just don't follow your line of thinking.

Your profile says that you are a Real Estate Broker and a Licensed Mortgage Broker. As a broker, don't you feel it is your responsibility to review loan terms with your clients before the closer shows up or are you the type of broker that expects or assumes the roll of the closer is to do your job and sell the loan that you initiated?

I am a trained Real Estate Paralegal and have been an independent mobile closer for the past 6 years. Funny thing is...out of the 3000+ loans I have closed, only 2 loans have come into question by investigators. I completely cooperated with both investigations and the wrong doing in one case led right back to the broker. I was happy to share what I knew with the detective to put that slime ball out of business for good.

The second closing questioned just happened to be handled by the same title company involved in the first investigation I had encountered. Again, I completely cooperated with the detective on this case and shared the fact that this was the second investigation I had been involved with that was processed by this particular FL title company. As it turned out, the title company in question had paid a GA notary a large sum of money to witness a signature on a QCD of a woman that did not appear before the notary....Remember, GA is an attorney only state when it comes to real estate transactions.

So Mike, I ask you, is the mobile closer really to blame here or is the originator, title company and/or underwriter just looking for a convenient scapegoat to shift blame?

Reply by dlcva on 11/12/08 2:59pm
Msg #269557

Just to let you all know. My mother lives in Port Charlotte where this guy is from. She said that Port charlotte is looking into a lot of bad loans made in that area. They have one of the highest areas with forclosers. So maybe Mike is getting scared so he is trying to make the crap roll down hill because his greed is catching up to him and others.

Reply by MW/VA on 11/12/08 8:07am
Msg #269500

Thanks for posting this here. This guy is writing on a premise that has been going around for some time. Of course it is a bogus attempt to shift blame to our industry. We all know we're not to blame for the bad loans that the real estate industry put together. This is why I don't necessarily like the "blog" concept--it is often a lot of blah-blah-blah, based on someone's view of an authoritative opinion. He's wrong on this one.

Reply by MW/VA on 11/12/08 8:28am
Msg #269502

I added my 2 cents & went so far as to suggest a "retraction". The 2nd paragraph of his blog is a very serious accusation.

Reply by MW/VA on 11/12/08 4:05pm
Msg #269567

I would really like to hear PAW's point of view on this one!