Posted by claudine osborne on 9/25/08 10:44am
Msg #265327

Interview By Anti-Trust Divison of US government

I have been contacted by the Anti Trust Divison of the US Treasury to interview me re: the NSA field. I have been contacted because of my award. They are conducting an assesment and would like input from me. They want to know how our industry has been affected due to the mortgage mess. Also questions about how we set up our fees, conduct business etc. I would like to know what your thoughts are on this and would you participate, if called? Also if you have any comments that you would like me to convey to them please let me know..Thanks Claudine

Reply by Linda_H/FL on 9/25/08 11:04am
Msg #265331

More regulation on Signing Services and their

payment (or non-payment) practices - recourse for the NSA on companies that shut down on us owing money and open up under another name/entity....just for starters.

Reply by Ilene C. Seidel on 9/25/08 11:26am
Msg #265334

Re: More regulation on Signing Services and their

The SS companies should be bonded and WE should have a copy of their bond in case they default on our payments. And they should be licensed as are the title companies thru the insurance commissioner, etc.
And I would be happy to talk to them.

Reply by 101livescan on 9/25/08 11:28am
Msg #265336

Re: More regulation on Signing Services and their

HA! great minds think alike.

Reply by Patricia Manatt on 9/25/08 1:26pm
Msg #265359

Re: More regulation on Signing Services and their

ditto those comments from Linda & Ilene! Accountability for all SS and TC's. I also believe the HUD should reflect our name (along with the fee) as well as the name and fee charged by the SS.

Reply by Ronnie_WA on 9/25/08 11:20am
Msg #265333

They may be looking for evidence of price fixing in our industry.

Reply by 101livescan on 9/25/08 11:27am
Msg #265335

What about background checking, standards for signing services? Can't be operating out of their spare bedroom, garage or dining room, real office so that you can actually walk in and pick up your check! How do we know the operators didn't just released from Chino or Norco State Penetentiarys for some previous felonious act. And how did the NNA come up with their "standard fees" for notaries....

Reply by Dave_CA on 9/25/08 11:30am
Msg #265338

I would be happy to participate.

Reply by Derrick/MT on 9/25/08 12:20pm
Msg #265347

How about tell them to keep their nose out of our business. I see this as a way for them to start regulating how we do business.

Reply by Stamper_WI on 9/25/08 12:21pm
Msg #265348

Congratulations on your award! I see it is a NNA award. I would however like to see input from notaries outside of the NNA membership

Reply by Lee/AR on 9/25/08 12:49pm
Msg #265350

As an Independent Contractor/Small business.... I'd like to stay that way, thank you. Government 'help'.... well, we all know what that means. In 15 years, I've been stiffed twice. I'd rather 'lose' that than encourage more government 'regulation' (interference). However, requiring a bit more 'officialdom/accountability' from a Signing Service does have its merits. JMO

Reply by MW/VA on 9/25/08 2:38pm
Msg #265372

Congrats, Claudine. I think it's an honor to be able to speak for our industry & know you will handle it well. I'm sure you will present a positive & professional picture of what we do, and that the mess wasn't caused by NSA's, but rather greedy & unethical lenders & brokers.
The one thing I would like to see is a place where we could report suspected predatory lenders without jeopardizing our careers. Some say we're in a "don't ask, don't tell" position, but there are those situations that we all come across that we feel should be reported.
I'll probably be blasted for saying that, but we all know why we were required not to make comments about the loans.

Reply by Virginia/PA on 9/25/08 3:26pm
Msg #265382

I too have felt that if I really am witnessing what truly seems like a scam - borrower or lender - that as a witness I am "hiding" something if I don't say something. Unlike many of you, I work for Attorneys. So you don't have the same sticky situation that I am in. My boss is absolutely paranoid about my signing business because he thinks somehow a disgruntled borrower will find out I work for him by day and "think, assume, or deliberately tie him to me and try to say that he was representing them at closing and didn't do his job" and then HIS malpractice insurance would be liable for a predatory lending situation. I think that's overboard, but he has his opinion. That's why I CYA with a disclosure I request all borrowers to sign indicating they understand my neutral position. Another Attorney in the office says that the Notary is totally neutral, which is the position of the NNA. I even expressed my concern about witnessing such a deal, and he said you are just the witness notary.

Reply by Becca_FL on 9/26/08 10:26am
Msg #265468

There is a place to report suspected mortgage fraud...

I have posted it numerous times. You can even remain anonymous.

http://www.mortgagefraudwatchlist.org/

What is MortgageFraudWatchList.org?

MFWL is a database of addresses, submitted by real estate professionals from all 50 states, where a sale or refinance transaction has suspicious activity. Mortgage transactions involving these addresses should be scrutinized to insure the accuracy and honesty of all data submitted as part of the loan process. MFWL will direct all potential fraud reports from our members and non members to proper authorities for investigation.

Reply by BobbiCT on 9/25/08 3:10pm
Msg #265377

Anti-Trust Divison Interview ...

Congratulations. I am sure you will present a fair and unbiased national response.

Watch your back: This could be spurred by the theory that, "If borrowers had personal legal representation by an attorney at the time they signed their loan documents, there would not be so many foreclosures today"; i.e., the "I didn't understand" excuse. That is, with an attorney advising the borrower that lying on a loan application or under oath is a criminal offense, based on a review of the documents they may not be able to make these mortgage payments in X years, how high and fast the adjustable rate can rise, that they could lose their home and if they sign a pre-payment penalty document there is NO guarantee the lender will waive it later when you want to refinance into a lower interest rate or with another lender.

Not for attorneys at all times, but sometimes "personal legal representation" is a good thing.

Reply by MW/VA on 9/25/08 3:13pm
Msg #265379

Re: Anti-Trust Divison Interview ...

Except that when we were "attorney only" states, the attorneys were not representing the borrower.

Reply by ReneeK_MI on 9/26/08 4:30am
Msg #265438

Please see msg thread 170700

It would seem to me that the Antitrust Division would be more apt to be investigating antitrust issues, rather than most of the issues posted in this current thread. With due respect to your accomplishments, Claudine - I am more hopeful that the concerns raised in the message thread 170700 are within their current area of interest.

Reply by Becca_FL on 9/26/08 8:41am
Msg #265451

Thank you, Renee! Attn: Claudine

I was trying to find a way to get that exact point across to the original poster without offending her. Imagine that...me not wanting to offend someone. Do you really think she would take this opportunity to address the concerns of the many XYZ 'haters' since she is such a proud member?

Well Claudine, will you address this concern? I want to know if you really intend to be the voice of ALL NSAs not just those that support the XYZ. Please respond.

Reply by claudine osborne on 9/26/08 10:35am
Msg #265469

Re: Thank you, Renee! Attn: Claudine

Becca, Thank you for your kind words..I appreciate it. As for speaking for the voice of other NSAs, if I do decide to do this interview, I plan on speaking strictly about my experiences. I would not presume to speak for others. But I do plan on making sure they know the issues we all face!

I asked for feeback from this board because this does affect all of us, and I value other peoples opinion on this and many other issues!

As for the NNA, yes I am a member big deal so are many other people, do I agree with them on everything of course not! I am not their spokesperson or anything of that sort. They have helped me and I have learned some things from this source as well as many other sources, good and bad. I have spoken with them on the fee issue and I have volunteered to be on the committee that is working to raise the fee schedule! Just because some people choose to be a member does not make them a bad NSA. Lets not turn this discussion into the NNA bashing, we have all heard this before! Can we just agree to disagree?

I have worked very hard in this field for 5 yrs and feel I am quite qualified to speak to anyone on our issues and I am not afraid to do so!

Reply by Becca_FL on 9/26/08 11:30am
Msg #265476

Re: Thank you for your response, Claudine.

It takes a 'committee' to raise an out of date fee schedule that was not relevant to begin with? Even by NNA earn $100k per year standards.

This is not a bash the NNA thread. This is a thread about our chance to be heard. After all, you did say, “Also if you have any comments that you would like me to convey to them please let me know.”

The NNA has not taken into account the rising cost of our supplies, equipment, memberships and gas and has pandered to the leading nationwide title companies for years to our detriment. This is not an organization about notaries and for notaries. You now have a golden opportunity to open a dialog with officials willing to listen. IMO, you would be doing all of your peers a disservice by not taking this opportunity to address issues that affect our profession.

This is not about NNA bashing, this is about the future of our profession.

Reply by claudine osborne on 9/26/08 12:32pm
Msg #265480

Thank you everyone

Thank you everyone for all the responses!

I have been doing research this morning and I have decided to go ahead with the interview. I feel I have been given a golden opportunity to speak on our indsutry! At least I will know that I am trying to make a difference for all of us!

My initial response was to say no, but my gut is telling me something else. I feel that God has moved me into this direction and I must obey! I will speak the truth and I can be quite effective in communicating issues, so why not go for it?

I will keep the board updated.

Reply by BrendaTx on 9/26/08 1:34pm
Msg #265491

Agree Renee -

The DOJ/Antitrust site says:

For over six decades, the mission of the Antitrust Division has been to promote and protect the competitive process — and the American economy — through the enforcement of the antitrust laws. The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade, such as price-fixing conspiracies, corporate mergers likely to reduce the competitive vigor of particular markets, and predatory acts designed to achieve or maintain monopoly power.

= = = =

So...wonder what they would want to know about our biz?

Maybe how the NNA can "suggest" prices?

BTW - congrats Claudine.

Reply by Ronda Roaring on 9/26/08 1:26pm
Msg #265490

I'd love to talk to them.