Posted by CopperheadVA on 8/4/10 7:22am
Msg #347511

Mortgage Connect Independent Contractor Agreement

I got a call last night from Mortgage Connect asking if I would be interested in signing up to be one of their vendors. They represented to me that they are a TC (not SS). I said yes, not remembering exactly what had been discussed here on the forum before, and not remembering that they had called me months ago offering $75 for e-docs with 20 - 40 pages of faxbacks. They didn't offer me $75 this time, but rather asked me what my fee for e-docs with faxbacks would be, and I quoted high. Even with that, they still asked if they could send me the sign-up package. The package is rather lengthy and here is what they require to be sent in:

- Summary of your coverage area and fees, along with service types and years of experience
- Professional resume
- Photocopy of government issued identification
- Photocopy of current notary license
- Photocopy of E & O insurance (minimum $100,00 required)
- Photocopy of background screening through NNA or other authorized source
- List of professional references
- Copy of certificate of insurance coverage (see below for minimum requirements)
- Signed copy of our Independent Vendor Services Agreement

Within the independent contractor agreement:

CONTRACTOR possesses, and at all times during the term of this Agreement shall maintain, at his or her sole expense, errors and omissions insurance coverage in an amount of not less than $100,000.00 per occurrence, and in the aggregate. CONTRACTOR also possesses, and at all times during the term of this Agreement shall maintain, at his or her sole expense, comprehensive general and vehicular insurance for claims and damages of bodily injury (including death) in the amounts of not less than $300,000.00 per occurrence, and $500,000.00 in the aggregate. CONTRACTOR will provide MORTGAGE CONNECT with certificates of such insurance coverage concurrently with the execution and delivery of this Agreement.

And further:

CONTRACTOR shall comply with any and all instructions provided by MORTGAGE CONNECT and any mortgage lender, or title company.
(My question here is, what if we are *instructed* to perform duties outside the normal scope of our services - sounds like if we sign this that we have to do everything and anything they ask.)

CONTRACTOR agrees to indemnify and defend MORTGAGE CONNECT against, and hold MORTGAGE CONNECT harmless from all liability resulting from the negligence or willful misconduct of CONTRACTOR in connection with the performance of the Services hereunder. The provisions of this Paragraph 9(b) shall survive the revocation or termination of this Agreement.

I do carry $100,000 E&O (perhaps that's why they chose to call me???) but I'm NOT sending them a copy of my driver's license or my vehicle insurance. There were specific instructions in the email that all items had to be complied with or they could not utilize my services.

Mortgage Connect seems to have good reviews in SC, but this contract is not something I am willing to sign.

Reply by Julie/MI on 8/4/10 7:30am
Msg #347512

CONTRACTOR shall comply with any and all instructions provided by MORTGAGE CONNECT and any mortgage lender, or title company.
(My question here is, what if we are *instructed* to perform duties outside the normal scope of our services - sounds like if we sign this that we have to do everything and anything they ask.)

Then don't do it! What exactly do you fear they will ask you to do?

Reply by Julie/MI on 8/4/10 7:32am
Msg #347513

posted too fast.I would have no problem signing the contract

I see nothing wrong with the contract.

I see too much "fear"/drama/what if thinking.

What is the problem with sending your driver's license? If I owned a signing company and/or title company I would probably want that buried in my file.

Reply by PAW on 8/4/10 9:16am
Msg #347529

Why?

>>> What is the problem with sending your driver's license? If I owned a signing company and/or title company I would probably want that buried in my file. <<<

Why?

Reply by Julie/MI on 8/4/10 9:36am
Msg #347533

Re: Why?

Insurance purposes and to CMA in the event I got in trouble from someone for NOT having it.

Reply by Linda_H/FL on 8/4/10 9:44am
Msg #347537

Julie...that's not your concern...

they wouldn't be covered by your auto insurance policy and if they get caught driving without a license that's on them, not you...and I'm not sure being a licensed driver is required for coverage under E&O or liability insurance.

Reply by Julie/MI on 8/4/10 10:40am
Msg #347542

Re: Julie...that's not your concern...

Way over thinking a hypothetical situation.

Reply by Linda_H/FL on 8/4/10 10:46am
Msg #347543

Re: Julie...that's not your concern...

No Ma'am...just responding to your reasons of why you'd keep a copy of a DL in a file.

No offense intended...

Reply by CopperheadVA on 8/4/10 7:33am
Msg #347514

Just extra work, such as make a copy of the entire package, scan the entire package, make certified copies, etc. It just struck me as odd, maybe others don't see it that way. I was actually less concerned about that part than the other parts.

Reply by Linda_H/FL on 8/4/10 7:58am
Msg #347516

I signed up with them a while back...I just sent everything in with a note that I do not provide copies of my driver's license and they have no need for a copy of my automobile insurance.

Reply by Ilene C. Seidel on 8/4/10 8:00am
Msg #347518

As far as my DL I black out my number and dob. It's no ones business.

Reply by Ilene C. Seidel on 8/4/10 7:59am
Msg #347517

I closed a loan for them recently they pretty cut and dry. One page fax back. The contract lists the worst case posibilities. They were easy to work with and pay me fee.

Reply by LMS on 8/4/10 8:52am
Msg #347523

I also rec'd a call to sign up, which I did, with the stipulation that I would not give them a copy of my DL. They were okay with that. Just said, that they wouldn't use me for the particular lender (or two?) that requires it. But, for the rest of the lenders they work with it would be fine.

Reply by janCA on 8/4/10 9:44am
Msg #347536

Looks like the LSI sign-up package. n/m

Reply by Moneyman/TX on 8/4/10 12:43pm
Msg #347558

That is one issue I would have with giving them a copy of

my DL. They would be transmitting the information to other companies without my knowledge. I've viewed their sign up package before and they don't indicate that they would let you know when, or with whom, your personal information was being shared. Just because the company is a TC, the SA would have no idea who else had access to their info or how it was being protected.

I take privacy concerns serious, as I know the rest here do as well. If my information were to be transmitted to unknown companies with unknown privacy protections in place, I would have a big issue with that. I have family members that have been victims of identity theft. It has cost them thousands and for at least one of them, it is still not over after several years.

Producing ID for a contracting company, for use in payment process and IRS reporting only, is acceptable to me. It is provided only after a signed agreement from them stating that my information cannot be disseminated to any 3rd party or used in any other manner without my prior written authorization and that they are responsible for the protection of the private information I have provided them at their request.

I can understand a request from a TC or a Lender for a copy of my ID, I will have access to sensitive financial information of their clients and they must take certain precautions for the protection of that information. I have no issue with providing them a copy of my valid commission for their records. I feel that I also have the right to know who is requesting my private information and how they will be guarding my information as well. If a TC/lender cannot understand that concern as well, then they are not one that I trust with my information.

Admittedly, I conduct business much differently than I have in the past, especially in areas that concern the transmission of my private information. It wasn't that long ago that someone posted on NotRot information about the hard drives of copiers not being wiped clean, or removed, prior to being resold where sensitive financial information could be easily obtained. How many "copies" of one’s financial information are on unknown SS company and TC copiers that should be wiped clean prior to being sold or traded in?

I agree that no SS or TC needs a copy of my auto policy information. I am not performing signings inside my car, nor am I transporting any signer by use of my auto.

Reply by CopperheadVA on 8/4/10 1:27pm
Msg #347565

In their contract, the signer agrees to release of info

Additional statements in their contract:

FURTHER, I HEREBY AUTHORIZE Mortgage Connect to release, disclose and/or
provide a copy of any and all forms, questionnaires, investigative reports, background
checks, evaluations, analysis or other information that I have provided or caused to be
provided to Mortgage Connect, or which Mortgage Connect has prepared, to any
customer, client, lender or other financial institution on persons who receive or have
access to consumer financial information or other confidential information

I hereby agree and understand that this Authorization and Release will remain valid as
long as I provide any services for or to Mortgage Connect and throughout my affiliation
with Mortgage Connect. The matters and information which are covered by this
Authorization and Release include, but are not limited to, information concerning my
criminal history, motor vehicle history, social security number, character, or any other
information requested.

I hereby release Mortgage Connect, to the full extent permitted by law, from any liability
or claims arising from releasing, disclosing, providing and/or reporting information
concerning me to any party pursuant to this Authorization and Release.

Reply by James Dawson on 8/4/10 1:34pm
Msg #347568

a Disclaimer! n/m

Reply by James Dawson on 8/4/10 9:54am
Msg #347538

Question - wording........within the independent contractor agreement.........all the references point to "CONTRACTOR". Is that the actual wording or was "independent left out?

I asked because there is a difference and the IRS defines Contractor vs Independent Contractor.

I would not sign this either. I also think this is information (database) that can be sold to anybody for the asking. My .02

Reply by CopperheadVA on 8/4/10 10:04am
Msg #347540

James, it says CONTRACTOR (they have it capitalized everywhere in the contract), however later in the contract there is a paragraph titled "INDEPENDENT CONTRACTOR" and it states that CONTRACTOR shall at all times be deemed an independent contractor and not an employee of Mortgage Connect. It also goes on to say that CONTRACTOR shall be responsible for "payment of all expenses incurred in performing the Services hereunder" and also responsible for fed, state, local taxes derived from compensation from MC.

Reply by James Dawson on 8/4/10 10:33am
Msg #347541

Thanks...yes they are trying to avoid the Behavior control" section in the IRS definition so they won't be responsible for paying taxes, vacation pay etc. When I had my trial I brought that up to the judge and it turned out to be a disclaimer, not a contract (but that was in my case). Anyway thanks again for answering my question, I'm with ya!

Reply by MW/VA on 8/4/10 10:52am
Msg #347545

While I have some issues with ICA's, I usually complete them

Why not? The purpose is to establish that we are IC's, not employees, and that the company isn't liable for any of our expenses. If there are certain paragraphs you don't agree with, put an "x" through that paragraph & initial it. The same with fees. Write in your required fees.
If I were an ss I would want contracts signed.
As far as copies of D/L is concerned, again why not? Yes, am employer would require it, not a co. we're contracting with, but it established valid identity, just like we do in signings.
One company wanted a copy of my notary seal. That I can't provide, of course.

Reply by PAW on 8/4/10 1:43pm
Msg #347569

Re: While I have some issues with ICA's, I usually complete them

>>> but it established valid identity, just like we do in signings. <<<

Sorry, but I don't agree with this statement one bit. Who's to say that the ID I provided is valid? I do not allow anyone to copy my driver's license except for those times when it is required by law.

Here's mine --> http://www.pawnotary.com/images/FL_dl_new.gif <-- change the name and address and it would work 99% of the time. Doesn't prove a thing.

Reply by MW/VA on 8/4/10 2:25pm
Msg #347572

Re: While I have some issues with ICA's, I usually complete them

Good point, Paul. A copy of an ID doesn't prove anything.

Reply by jba/fl on 8/4/10 3:57pm
Msg #347585

This is fake

The birthdate doesn't match DL# - fraud, fraud, fraudulent!

Reply by Les_CO on 8/4/10 11:58am
Msg #347555

In this case I’d send no ID, unless altered to not show license numbers.
No vehicle insurance
No guaranteed coverage limits (although I carry 100-300K, just not their business.)
In the “CONTRACTOR shall comply” part I’d add “lawful” instructions
In the “CONTRACTOR agrees” part I’d insert “and Mortgage Connect hereby agrees to do the same to the CONTRACTOR”
As for me I’m incorporated, so my Company is the CONTRACTOR, and has no ID, or Drivers License, and I sign as an officer of that Company.
Saves a lot of time with trivial details.