Posted by John Charles Gober on 2/20/10 9:01am
Msg #323578

Signings in Maryland. Have things changed?

I have received so many calls lately for MD I almost want to quit my day job. Been turning them down because I am not a title producer. Now with electronic notarization the MD SOS web pages appear to be out of sync. Have the title producer rules been relaxed? For esignings does the mortgagee AND the mortgager both have to be present?

John

Reply by MW/VA on 2/20/10 9:12am
Msg #323582

I'm not in MD but understand that rules & regs have gotten tighter. Not only do they require a TPL to do signings, but there is a costly bond involved.

Reply by Prosperity on 2/20/10 9:42am
Msg #323586

This is true. You do have to be TPL, and the rules have gotten tighter. Also the bond amount has increased and is much more costlier. Maryland has been a good place to work this business. I'm also part time, but I often check the calendar and will put leave in my regular job on the last signing day of the month.

Reply by BossLadyMD on 2/20/10 2:18pm
Msg #323604

I, too, am PT. The TPL has been in effect since 2005 and the bond increased to $150,000 last year (Oct 2009). I have had about 5 signings so far this year - most have canceled though. And MD is also one of many states where unfront on MODs is illegal.

Reply by Ilene C. Seidel on 2/21/10 9:09am
Msg #323654

Md is tighter and those of us who have been attending the Insurance Commission's review on the title industry (which took place last year) will probably find when legislation goes into session it goin to get tighter.
It looks like our tpl numbers and addresses for the closer and title company is going to go on the DOT or it won't be recorded. So those of you who are working without a TPL better find another source of income.