Posted by S Peterson on 8/15/09 1:25pm
Msg #300153

How to keep topic on top? Fidelity Legal Services BEWARE!!

Re: East Cost Management/Fidelity Legal Services BEWARE!!
Posted by S Peterson of ID on 8/15/09 1:15pm Msg #300151

Here's their latest tactic. They are now using a SS to book their appointments or the SS is in kahoots with them, I don't know. I just received my order via email that I agreeded to do during the initial phone call. During the phone call, I asked the gal, "Is this a Loan Modification Application?" She said No. I then asked if this appointment had anything to do with 21st Century in CA? She said this was simply a "Retainer Appointment"

Read the Order, sure enough it's the same outfit. The SS that contacted me is in SC with 4+ stars. I did 2 normal signings for them last month and have already been paid. I'm wondering if the SS is even aware of this company. Comments appreciated.

Reply by John/CT on 8/15/09 1:37pm
Msg #300155

Time to turn the assignment back to the SS

Otherwise, you're still stuck in that crummy and pitiful situation in front of those desparate borrowers ... knowing full well what's in store for them. They'll have your name and telephone number (when you confirm the appointment), and will forever associate you with what went wrong. Then, at the end of the day, what if East Coast/Fidelity/21st Century, et al., don't pay the SS? Will you still get paid? Bad karma all around!

Reply by S Peterson on 8/15/09 1:43pm
Msg #300158

Re: Time to turn the assignment back to the SS

I agree completely. In the process of doing that.

Reply by Lee/AR on 8/15/09 1:48pm
Msg #300159

What's really interesting about this...

is the fact that all the negative publicity this outfit is getting on forums IS (apparently) impacting their business, forcing them to get more & more 'creative' in trying to find some 'out of the loop' person to do the job.

I would have no problem whatsoever in immediately turning this back to any SS--whether or not I asked the right questions--with no drama---simply by stating that I don't work for 'that' company.

Another interesting thing is the fact that this happening proves that if we stick together, we CAN make a difference. Now.... about those XYZ cbc's......

Reply by Lee/AR on 8/15/09 1:57pm
Msg #300160

Injunction filed in Arkansas

In July. I received a call in August for one of these. Seems they ignore injunctions, too.
Here's the link..... http://www.securities.arkansas.gov/!userfiles/CV-2009-5326%2007292009(3)(1).pdf

Reply by Cari on 8/15/09 2:29pm
Msg #300164

when they burn the 4 star SS...i'm sure we'll see a post...

on this site...let's just wait and see....

Reply by ll/La on 8/15/09 2:41pm
Msg #300166

Same thing happened to me. The SS called me last night and called it a "legal services application".

Reply by MW/VA on 8/15/09 3:06pm
Msg #300169

Perhaps when you turn the assignment back to the ss you can tell them exactly WHY you won't do it.
There are still plenty of folks out there that don't necessarily know about this scam, maybe including the ss.

Reply by MW/VA on 8/15/09 3:13pm
Msg #300173

BTW, thanks to anyone/everyone who posts the latest tricks this co. is trying to use.

Reply by LKT/CA on 8/15/09 6:14pm
Msg #300179

<<<"Is this a Loan Modification Application?" She said No. I then asked if this appointment had anything to do with 21st Century in CA? She said this was simply a "Retainer Appointment">>>

Perhaps you would have saved yourself even the headache of getting then turning back the job had you ask these questions:

1. Am I collecting checks from the client?
2. Am I notarizing any signtures?
3. Does the client need to complete forms?
4. Am I collecting from the clients copies of documents such as mortgage payment coupons, insurance documents, etc.

These questions will quickly unveil the truth of the job. While the answer to # 4 may be a NO, I'm certain the answer is YES to 1, 2, and 3. Then say, "I don't do that type of assignment, have a great day...<click>" Time is money and you're wasting it and valuable cell minutes by asking if the company is connected to any other company, if this is a loan mod app, etc. Companies have stopped calling the job a loan modification application - they will give it any and every other title they can come up with. Totally squash their fancy ying yang and gobbledygook by asking the above questions.

Reply by LKT/CA on 8/15/09 9:20pm
Msg #300191

Corrections

Questions 2 and 4 are probably a NO and 1 and 3 are probably a YES if the job is for a loan modification application.

Reply by Doris_CO on 8/15/09 10:48pm
Msg #300200

Re: Corrections

Those are good questions, but, as you said, these companies are coming up with other descriptive words or work-arounds for these applications. I had one this week (the borrower canceled thank goodness). The person who called me said, when I asked if it was an application or the actual modification, that it was a modification. Turned out not to be. And, instead of the borrower signing over checks, he would sign an agreement for electronic payments.

Reply by jba/fl on 8/15/09 11:23pm
Msg #300201

Re: Corrections

"And, instead of the borrower signing over checks, he would sign an agreement for electronic payments. "

Now that is even scarier!

Reply by JanetK_CA on 8/15/09 9:20pm
Msg #300192

Good advice.

I've also heard that "retainer appointment" euphemism from a ss that I've worked with in the past. I explained why I wouldn't be interested in taking the appointment, but it didn't matter to the person I talked to. I think they know exactly what they're dealing with, but are willing to take almost any business in this market. Decisions like that are likely to come back and bite them, imo....

Reply by Linda_H/FL on 8/16/09 8:36am
Msg #300216

Re: Good advice.

The last one I was called for was a "retainer agreement"...now it's my understanding that although the mod apps with up-front fees in FL are illegal, these "retainer agreements" may be okay because the agreement hires the attorney, sets out the nonrefundable attorney fee and also explains how the balance of the monies are going to be handled.

I still don't like them and don't wish to do them. Since we're the only people these people see at the time, and we're the ones they give their money to, we're the first ones they're going to blame when things go south.

(MHO and paranoia, of course).

Reply by S Peterson on 8/17/09 3:31pm
Msg #300412

Re:
1. Am I collecting checks from the client?
2. Am I notarizing any signtures?
3. Does the client need to complete forms?
4. Am I collecting from the clients copies of documents such as mortgage payment coupons, insurance documents, etc.

I did ask all those questions and then some. It sounded suspicious, but the SS answered no and because of their rep, I said ok. Luckily, the person I was supposed to meet with is stuck out of town, called this morning and cancelled the appt. I was very happy!

Why some of you folks on this board are so indignant is beyond me. If it doesn't bother your conscience to do signings from an obviously unscrupulous company, do us all a favor. Call 21st or Fidelity *** or Trans****, give them your name and number so they will leave the rest of us who like to sleep at night, alone.

Respectfully submitted.