Posted by Christine Hall on 9/17/09 7:06am
Msg #304127

UDX Loan Mod?

I took a job for a loan mod from Universal Documents Express and upon receiving the docs I am to collect a check for $2900 from the borrower. Also the borrower is going through Home Safe Legal Network which has an F rating on the BBB. Should I even be doing this signing? Is anybody else doing loan mods for UDX? I have only done refis for them in the past. Any thoughts on this? Thanks!

Reply by Teddog/CO on 9/17/09 7:12am
Msg #304128

NO!!! I wouldn't touch it.

Reply by John/CT on 9/17/09 7:47am
Msg #304130

Re: Loan Modification

Under the orange Search buttion type in the keywords loan modification. You'll learn more than you ever thought about Fidelity National Legal, East Coast Management, 21st Century, et al.

Reply by Christine Hall on 9/17/09 7:57am
Msg #304131

Re: Loan Modification

I am aware of 21st etc, I was just wondering if anyone else is doing mods for UDX as this is a first for me. Thanks!

Reply by Maggie Ostergard on 9/17/09 11:18am
Msg #304154

Re: Loan Modification

this is the same company

Reply by Linda_H/FL on 9/17/09 11:38am
Msg #304158

Re: Loan Modification...Maggie

UDX is not the same company as 21st Century or Fidelity National Legal...they're a totally separate entity - they're a SS who's listed in SC...apparently 21st is having a problem filling their orders so they're now getting SS's involved to try to find notaries for them.

Reply by MW/VA on 9/17/09 8:31am
Msg #304135

What difference does it make that they're using a ss? If you suspect that it's one of the loan mod scams it's still the same issue.

Reply by Shoshana/AZ on 9/17/09 8:34am
Msg #304136

UDX is a SS located in Dublin, CA

My advice to everyone is this: If it's a loan mod and you don't want to do it, don't do it! I really think it's a waste of time and space to keep rehashing this over and over again!
JMHO

Reply by MW/VA on 9/17/09 8:36am
Msg #304137

Re: UDX is a SS located in Dublin, CA

IMO it's not an issue that is being rehashed for those who are not aware. I know we get tired of it, but it is a very important development in our industry.

Reply by Jim/AL on 9/17/09 8:46am
Msg #304139

Christine, you know what has been discussed here about loan mods with upfront $$, doing or not is a personal decision you have to make based on many things.

What does MN law say about these? How do you feel about doing these? How badly do you need the work? Is it worth the potential liability?

Many factors to weigh, but usually best to go with your gut.

Good luck.

Reply by Christine Hall on 9/17/09 9:11am
Msg #304145

I turned it back in, thank you for the replies.

Reply by LisaWI on 9/17/09 10:22am
Msg #304149

Re: Christine....You need to read msg 302358

posted by Jolene from Minnesota. This is directly about Loan Mods in Minnesota.

Reply by Linda Juenger on 9/17/09 10:43am
Msg #304150

The point being stressed here also is that yet another

company is going to be calling us to do these. Previously these companies, like UDX, only did Re-fi's and the likes, but now are doing these mods.

I am not answering my phone when it shows up 21st or Fidelity or East Coast. But I would answer for UDX not knowing it was going to be a mod. Until this post, I had no idea that they were doing this. So, we just don't know when we answer our phones what it is going to be and what company is going to call next.

Reply by jojo_MN on 9/17/09 10:45am
Msg #304151

Re: The point being stressed here also is that yet another

I would answer your phone. If it is for a modification, I would check out the company first, then turn it back. I've gotten calls from my regular clients (such as Nations Direct) for these modifications in addition to regular closings. Many times, the SS doesn't have any idea what the signing is for. IMHO

Reply by CH2inCA on 9/17/09 11:16am
Msg #304152

Re: The point being stressed here also is that yet another

I don't think we can talk about this enough!!

Through posts such as this we now know that some of the regular SS are calling for mod application services.

I was called for a 'mod closing', last week, just a few pages, no notarizations. I asked if there were any checks for me to pick up. Nope. I thought it was odd, the no notarization part...but I accepted the job and printed the docs.

As I said this is from a decently rated SS here on SC. As I read the docs I noticed that the borrowers needed to fill out a form authorizing charges to their credit cards totaling over 3500 dollars. Now, to be fair; the documents did have numbers to call if the borrowers were wary of the 'broker'. And the modification was set up in phases and did have estimated dates of completion.

I tried to do some research, but the ONLY quick information I could find was here.

Nope we can't talk about this enough, what are the new names for the fraudulent companies? What is their latest MO? Is there anything such as a 'good' modification broker?

I'm still not sure if this job was one of the fraudulent ones. I went with my gut; called the SS back and told her that the job they called a 'closing' wasn't, and that I was not comfortable doing the job. I did thank them for giving me the opportunity though; because who am I to say that it's not legit and honestly....I really, really need all the work I can get. No need to slam the SS.

Reply by Bob_Chicago on 9/17/09 12:17pm
Msg #304163

"I am not answering my phone when it shows up .. Fidelity.."

Just be sure that you it's not the "real" Fidelity Title
which is as legit as it gets.
Guessing that that it why the "fake" Fidelity, chose that name.

Reply by Maggie Ostergard on 9/17/09 11:20am
Msg #304156

they skirt the upfront money with JUST taking the credit cards OK's and staying they will deposit as they move alone in the process- most likely all within the first week as the property owner is providing all the information and they are just retyping

Reply by Maggie Ostergard on 9/17/09 11:17am
Msg #304153

if you look at some of this paperwork, it states that they have completed there job once they put package together and get to the mortgage company? Well tell me does that modify a loan?no
we/they can do this with out paying someone else to do it.
i was sent out on one similiar and the person rightly so refused to sign, and i never got paid even when they stated you will be paid within 7 days- stay out of this as it appears illegal

Reply by Linda_H/FL on 9/17/09 11:39am
Msg #304159

"stay out of this as it appears illegal"

In FL it IS illegal.

Reply by Linda_H/FL on 9/17/09 11:39am
Msg #304160

"stay out of this as it appears illegal"

In FL it IS illegal.

Reply by Linda_H/FL on 9/17/09 11:51am
Msg #304161

Apologies for the double post... n/m

Reply by SharonMN on 9/17/09 11:26am
Msg #304157

Christine, you must have gotten the job they tried to give me. I always ask, "Is this a final loan modification where they are just signing a new note and other documents from the lender. or is this a loan modification application where I'm gathering information and picking up a check?" That question resulted in me finding out it was an application and turning down the signing.

Reply by Roger_OH on 9/17/09 1:23pm
Msg #304167

Loan Mods - OK; Mod APPLICATIONS - not OK! n/m

Reply by MW/VA on 9/17/09 1:39pm
Msg #304168

Re: Loan Mods - OK; Mod APPLICATIONS - not OK!

The trigger point for these is the large upfront fees--whether check or credit card.
VA put a law on the books July 1 making it illegal. That's all I need to know.
I never got involved with these in the first place, thank God.

Reply by pat/WA on 12/4/09 5:00pm
Msg #313128

Re: Loan Mods - OK; Mod APPLICATIONS - not OK!

There are no replies from Washington State regarding UDX in the forum. But, we were contacted today to do a Modification for Universal Document Express. We turned back the assignment because we are not comfortable with this company. They are asking for check payable to Certified Financial Protection Group in the amount of $5600. There are no notary blocks on the documents but they have requested a notary acknowledgement. It appears to be an application as there is no note.

Please let me know if this company is reputable.
Thank you