Posted by Stamper_WI on 1/22/10 3:28pm
Msg #319066

When was the last time?

Any one got a requst to do a shady loan modification application? All that seems to have settled down

Reply by Teresa/FL on 1/22/10 3:38pm
Msg #319067

I received a call from someone purporting to be from an attorney's office on the day after Thanksgiving. Since I was out of town, I had no choice but to turn it down. Even if I had been in town I would have been "unavailable" for the assignment.

Reply by Ilene C. Seidel on 1/22/10 4:46pm
Msg #319080

I also had a call who said he was calling from and attorney's office. I took the job when the docs came refused both jobs. Collecting funds up front it was turned into the state of Md. Doesn't matter if it's an attorney we can't collect funds up front for a mod. as least that's a Md statute.

Reply by Laura_V on 1/22/10 8:26pm
Msg #319163

Stamper -

I wish you were right. Loans are fine. Watch the HUDs.


All but one US real estate purchase packages by Canadians working w/ me in the last 3-4 months were cash-only purchases. (Canadians still have cash and are buying vaca and super-cheap apt complexes as biz investments.)

A couple of weeks ago, a $100K or more loan was involved in a vaca purchase. (Sorry for abbrev. Capitalization finger still hurts.)

Loan numbers were fantastic. 30yr fixed, 4 point-something rate.
Good on client: he works super hard.

But the title company fees were crazy! I saw silly stuff that was totally new. $50 fee to email client the docs? Say what? $2K signing fee when I handled 90% of the signing? (New Deed still has to be recorded, after all.)

It took me almost an hour to find all the bogus junk and post-it-arrow mark each one.

When done, the total of the bogus TC fees was just under $4K.

Crikey!

Signing took 2 hours.


At end, client was so happy and 4-point-whatever was so low he decided he didn't care.


I will not post the amount of the check he gave me. (I take cash only but a couple of times a year I take a check.) The check was $xxx - yep three numbers. I was numb for an hour.

I'm not posting the exact amount because some posters will say I am a liar.

I never lie except to protect a client's privacy (like saying the guy is a surgeon when he is really a pilot).

And yes, I white-lie. I would never tell a gal her jeans make her look fat.

(I take honesty and privacy/boundaries very seriously.)

And I hate telling someone what I used to weigh before I became happy again (after friend's death) and lost a bunch of pounds. LOL!!!


Caveat emptor - buyer beware. (sp?)
As relevant now as it has ever been.

Reply by Laura_V on 1/22/10 8:35pm
Msg #319167

oooops

I wrote "And I hate telling someone what I used to weigh before I became happy again (after friend's death) and lost a bunch of pounds. "

What I meant to say was that my beloved friend of a couple of decades died of AIDs and I gained weight due to comfort eating. (Too many deaths in my life.)

Now that I have resurfaced from grieving and am happy again, my weight is dropping like an elevator with a broken cable. I'm using old clothes to wrap outdoor faucets so they don't freeze. LOL

Yes, TMI.

I am a super nerd (as are all good notaries). I just want to be truthful and clear.

Reply by Linda Hubbell on 1/22/10 8:41pm
Msg #319171

"It took me almost an hour to find all the bogus junk and post-it-arrow mark each one.

When done, the total of the bogus TC fees was just under $4K. "

I'm not quite sure I understand this correctly...why would you even do this? Waste an hour putting arrows next to the junk fees? Why? If it's your role as a notary or signing agent or whatever title you prefer, it's not your concern..you certainly can't point these out to them...

Again...why?

Reply by Susan Fischer on 1/23/10 12:12am
Msg #319194

Splendid disclosures, Laura. :) n/m

Reply by jojo_MN on 1/23/10 9:22am
Msg #319206

I was asked to do one this morning. The name of the company was Organic Network out of Poway, CA. I told the SS that I needed to check out the company to see if they were licensed to do business in MN and asked how much money had to be collected up front. She said "just a minute" and came back to the phone. She said that while she was talking to me another notary left a message that she will do the app.

I need the business, but still won't help out companies doing illegal activities!