Posted by jba/fl on 1/19/10 2:58pm
Msg #318555
Finiti Title, LLC, Columbia, MD
7090 Samuel Morse Drive; 800-422-7771 ; 443-259-1000.
Sent me sign up pkg - enclosed fee sheet that I am to fill out (in addition to lengthy packet) showing where I will provide services for $90 with edocs, cancellation at 25%. Wanted to know if I am licensed as notary. The contract, item 17, says I agree to print 2 copies of the loan docs, have the BO execute both copies and courier one copy to Finiti. Item 19 says that if I don't return I will have duplicate security instrument secured and arrange for recording of same.
Item 21 says you must only bill what is on exhibit B, Pay schedule, so if you fill this out, you are bound and there is no negiotiation on fees. Must also fax back innumerable items (not specifically listed, but list will be in closing package.) Must also have $100K general liability insurance. any and all disputes must go before arbitrator who is member of American Arbitration Assn. Of course, they also reserve the right to deduct from pay.
According to D&B this business is Loan Broker, 2 employees. Their own website is virtually non-existent.
Think I will pass on this great opportunity.
| Reply by MW/VA on 1/19/10 3:03pm
Msg #318559
They must be shopping around. I do some work through an ss. It is Citibank loans, but they require docs to be shrunken to all letter size, signed in black, & 2 DOT. I'm guessing they're trying to get it done cheaper by offering the notaries $90. IMO, this is disgraceful from a tc. We all know business is touch & competitive, but really!!!!
| Reply by jba/fl on 1/19/10 3:03pm
Msg #318560
I saw a post few days ago mentioning they have teamed with Citi - they specifically state must not be employee of Citi and their various subsidaries. Pays in 45 days also.
Folks: the real thing to remember: read these contracts. Every word. Lots of hoops here - true to form, the more hoops one must jump through, the more it favors them, not you.
| Reply by Les_CO on 1/19/10 3:12pm
Msg #318563
See #318378 n/m
| Reply by Aviva Dubrow on 1/19/10 7:45pm
Msg #318628
I, too received a call from one of their reps last week to sign up with them. when I said that the $90 was below my normal fee, he said that I was always free to decline a job from them. but then I started reading the contract and got more convinced that I should not sign up with them. They are a part of First American, from what I have read, so not sure where that will lead. I did send an e-mail back saying that my minimum fee is $XXX and much as I would like to get some of the "plethora of business" that they would send my way, I would not be able to do it for the seemingly non-negotiable $90 that they were offering.
| Reply by CopperheadVA on 1/19/10 3:12pm
Msg #318561
This was also mentioned recently on the numbers forum. Absolutely no way would I sign up to work for this company!
| Reply by MW/VA on 1/19/10 3:13pm
Msg #318564
Someone needs to list them in SC.
| Reply by Les_CO on 1/19/10 3:17pm
Msg #318566
I’m curious about Dun&Bradstreet…when I went to their web site, I think it was like $35 to look someone up?
| Reply by jba/fl on 1/19/10 3:28pm
Msg #318568
http://www.alacrastore.com/search/finiti+title
Then click on their name (finiti) and a sample report will come up.
| Reply by jojo_MN on 1/19/10 3:40pm
Msg #318573
The sample that came up was for Dunn & Bradstreet. When I clicked on Finiti Title, got the message it would cost $110 to download results.
| Reply by jba/fl on 1/19/10 3:45pm
Msg #318574
When you click on Finiti, what comes up is "Loan Broker". That is the issue. Not the sample report, which is D&B puffing themselves so that you will subscribe.
| Reply by Les_CO on 1/19/10 3:47pm
Msg #318576
Yeah, or $40, or $60 for a credit report, and I guess $110 for the whole deal…Sorry… Their contract, and fee payment alone tell me enough that I’ll not bother.
| Reply by jba/fl on 1/19/10 3:46pm
Msg #318575
"and a sample report will come up."
Sorry - that was my mistake. What you want to see is that they are not called TC but Loan Broker.
| Reply by Cari on 1/19/10 4:28pm
Msg #318584
if you have a paid subscription with D&B, the business
report I believe is free...but that was back in 2008..haven't used it since.
| Reply by Cari on 1/19/10 4:22pm
Msg #318582
believe their main and possibly only client is Citimortgage.
I work thru several SS and I am seeing lots of Finiti Title...and all of those closings have been CitiMortgage.
| Reply by SharonMN on 1/19/10 4:51pm
Msg #318588
>The contract, item 17, says I agree to print 2 copies of the loan docs, have the BO execute both copies and courier one copy to Finiti.
Finiti advised this was a mistake, bwr doesn't need to sign theirs.
>Item 19 says that if I don't return I will have duplicate security instrument secured and arrange for recording of same.
I refused to agree to this part and they said OK.
> Must also have $100K general liability insurance.
They said I had to have E&O but less than 100K was OK.
They were extremely reasonable about all the points I challenged, but in the end we got stuck on their indemnity provision (I refused to be financially responsible beyond waiving my fee), so they can just continue to use me through signing service, which they have on several occasions (for the same fee, I might add!)
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