Posted by Ilene C. Seidel on 10/12/08 5:02pm
Msg #267115

Purchase by mail

A friend of ours emailed me to notarize "some documents" and I of course said sure, not asking what kind of document I was notarizing. So yesterday she shows up with a purchase pkg. of a Florida house. I was dumbfounded the loan package was marked everywhere conceivable for the "dumb" notary to acknowledge the DOT. The package was dated 15th and I refused to date the docs the same (since it was the 11th) so we called the LO. I told him off stating he and the title company had a lot of nerve not to assign the closing to a closing agent to complete the package. The kicker was they charged the bo $550.00 for closing fees. Just venting.

Reply by Linda_H/FL on 10/12/08 6:39pm
Msg #267116

"I told him off stating he and the title company had a lot of nerve not to assign the closing to a closing agent to complete the package"

Maybe I'm missing something here - I'm not sure I understand your outrage...mail-aways happen all the time.

Reply by BrendaTx on 10/12/08 6:47pm
Msg #267117

Yep. n/m

Reply by MistarellaFL on 10/12/08 7:16pm
Msg #267120

I wondered what the big deal was, too n/m

Reply by Roger_OH on 10/12/08 11:09pm
Msg #267129

You should not have told off the company...

It's a common practice for some lenders to send the package to the borrowers, and have them find their own notary within a several-day time period. I love them - simple packages and payment on the spot. I only wish the lenders would refer the borrowers to a site such as NotRot where they can find a notary experienced with loan docs.

Reply by BrendaTx on 10/13/08 6:57am
Msg #267131

*I was dumbfounded the loan package was marked everywhere conceivable for the "dumb" notary to acknowledge the DOT. *

Ilene, it's commonplace for the entity sending out the documents to do this...even for the smartest signers (multi-millionaires) and notaries in the whole wide world. It shows due diligence on the doc-sender's part.

Mailaways are common in my world. The notary simply dates the acknowledgment correctly.

Reply by sue_pa on 10/13/08 7:38am
Msg #267132

I also would have been outraged ... but in a different direction. I would have chewed my friend up and down and then sideways for purchasing a piece of real estate not having legal representation. The title company and the lender have certain responsibilities - however they aren't legal counsel to their client. On a purchase, not talking about CA or other escrow states here because I just don't understand them, who was looking out for your friend's interests? I can't tell you how many purchases I've been at where there are issues. The buyers look at me and say ... who is representing us? I look at them and say ... how would I know, who have you hired? (hopefully, you get my meaning here, this is not verbatum).

Just last week I walked into a purchase and was 'blindsided'. The buyers' lawyer was there. First thing out of his mouth was ... how do I know this deed situation is going to be taken care of? Of course I know nothing about a 'deed situation'. I asked what he was talking about, I asked who he had spoken to about this prior to my arrival. I knew who to call and that was taken care of. He then says, "Next." "Next" happens to be issues with the bathroom sinks. I again ask what the problem is and who they have spoken to about it. I then make another phone call. Point being, the 'deed situation' and the sinks would have never been taken care of (not sure they would have been 'real' issues for anyone else but they were for this couple) because they had someone looking out for them.

Reply by Linda_H/FL on 10/13/08 8:11am
Msg #267134

Unless my friend asked my opinion of the transaction

it's not my position to "chew my friends out" for making personal and financial decisions on their own ... they're adults and I'm not their keeper - no more than people should be "telling off" the LO or TC about their handling of their file. JMO

Reply by BrendaTx on 10/13/08 8:17am
Msg #267135

I just thought of something...

Do you think that Ilene's upset because MD is a LTP state?

Reply by Linda_H/FL on 10/13/08 8:21am
Msg #267136

Good point..and not sure...but remember

her friend e-mailed her and asked her to notarize some docs - she wasn't hired as a closer by title or a signing service...don't need a TPL to be a notary....MHO

Reply by WDMD on 10/13/08 8:27am
Msg #267137

Re: Good point..and not sure...but remember

As long as the notary is only charging statutory notarization charges a notary can notarize the signatures on real estate docs. If they try to charge signing agent fees they need to be a TPL to be in compliance with the law.

Reply by NCLisa on 10/13/08 1:12pm
Msg #267169

As a RE Paralegal I do mailaways all the time!

I prefer them over hiring NSA's. My closings are usually in areas where I don't know any NSA's, and the few I've hired have been HORRIBLE! When I have a mailaway, I normally have the docs well in advance, so the borrower is prepared to have docs signed and dated on the day we've discussed. I divide the package, docs they can sign at home, and docs that must be signing in front of the notary. I even include a letter to the notary telling them what is to be expected so I don't get any errors.

In the 8 years I've done mailaways, I have not had a single issue. When I've hired NSA's (only 7 times) I've had a nightmare situation each and every time! Now there are some on this board that I'd hire in a minute to do a closing if I had one in your area, but it never works that way, they are always in areas where I'm not familiar with anyone and can't find a referral, and there is no statewide network.