Posted by laurielnc on 6/9/10 12:07am
Msg #340296

Provident Law Group in Irvine , CA

I know this was discussed about a week ago. I took their signing for a loan mod retainer (was in line at Kings Dominion and just got in to look up assignment). It is illegal to take up front money in NC. They are somehow going around the fee being upfront by using escrow money that is already in the borrowers account. There is an article at www.getoutofdebt.com on the company.
I am going to call and cancel tomorrow. But the kicker is some loans go through! Only 20% at best. They say borrower is taking their own risk. Shouldn't I say something to borrower? And they want me to collect my fee up front from borrower. I know this stinks but it makes me mad! The upfront fee is 2 checks to be collected for over $2,000!

Reply by MelissaM_FL on 6/9/10 7:22am
Msg #340301

You're in NC, so your state's rules may differ from mine, but I have been refusing these outright since the very first one I received. Since our role is to identify the borrower and have the documents signed correctly, I don't feel that I can "warn" a borrower that something is fishy with their loan or paperwork.

However, on the one and only loan modification application I accidentally accepted, where the docs were delivered to the borrower and I had no chance to review them ahead of time, I did ask the borrower to read the three page agreement carefully. After reading the Agreement, the borrower refused to sign, which was perfectly acceptable to me. I refused further work from that company, mostly because I felt they had misrepresented to me what I was being asked to have signed. The scheduler had indicated to me that it was an actual loan modification, not an application for a loan mod.

Granted, the company may not have been Provident Law Group, but it was a similar scenario.

Reply by Linda_H/FL on 6/9/10 7:46am
Msg #340304

"They are somehow going around the fee being upfront by using escrow money that is already in the borrowers account"

How the heck are they getting access to escrow funds held by the lender?? So not only are the people in arrears with their mortgage payments, their taxes and homeowners' insurance is going to go unpaid because some group dipped into their escrow to MAYBE get them a modification?? AND you have to collect $2K up front???

Sorry, this just blows me away. That's a really scarey thought.

Reply by 101livescan on 6/9/10 8:00am
Msg #340306

Run like hell, girlie. California's AG just indicted a bunch of these skunky lawyers for fraud.

Reply by laurielnc on 6/9/10 8:21am
Msg #340308

I was going to contact the Attorney General in our state. It is illegal to collect funds upfront in our state.

The confirmation doesn't state to pick up checks but there is a spot to attach funds ($2,000)and also collect $995 fee for R.E.S.T. loan analysis and it is non-refundable! The instructions are vague.

Also the address they gave me to meet borrower is so messed up. I can't find borrower in white pages or even street. I am going to run from this assignment but not before I get more info so this doesn't happen to people that can't afford this to happen.

Reply by laurielnc on 6/9/10 9:17am
Msg #340312

Talked to Attorney General Assistant in N.C. about Provident

They have heard of them and wanted me to tell all Notaries that get calls from this co. or any other asking for money upfront to call your Attorney General immediately. Do not just turn down the signing but get info and then turn it in. They could rip off someone close to you and this needs to be stopped. He told me that this is a felony and will press charges.

Please help to stop this by not turning down the assignments. He wants me to call the borrower and have her call him directly before I do anything else.

Reply by 101livescan on 6/9/10 9:35am
Msg #340313

Re: Talked to Attorney General Assistant in N.C. about Provident

Good plan! Catch em in the act. They will be duly prosecuted, because it is a national issue, not state by state. People have lost enought already, they don't need to be kicked in the gut while writhing in the pain of losing their homes because modifications can't be worked out by the lender. Way to go, Laurie!

Reply by Linda_H/FL on 6/9/10 9:42am
Msg #340315

Just a quick warning note here...for FL

The AG will not accept complaints from notaries - the complaints must come from the party/parties who have been harmed - the consumer (i.e. homeowners/borrowers)....not the notaries.

At least that's what was reported to me by another notary (and I believe posted here) who did call the FL AG's office regarding another company....yes it IS a nationwide problem, but each state has it's own reporting requirement and criteria - that's what needs to be followed.

Reply by Linda_H/FL on 6/9/10 9:44am
Msg #340316

Meant to add here...Laurie I do admire your progress in

this and kudos to you for the pursuit...good job!!

Reply by MW/VA on 6/9/10 10:11am
Msg #340319

Re: Talked to Attorney General Assistant in N.C. about Provident

Good work for calling the AG. This way they can gather evidence. Way to go, Laurie.
It is very important for notaries not to participate in fraud or illegal activities, as you know.
At least, because of participation in the forums, we can be aware of this kind of thing.

Reply by Notarysigner on 6/9/10 10:23am
Msg #340323

Re: Talked to Attorney General Assistant in N.C. about Provident

Good show....a REAL NSA!!!

Reply by CF on 6/9/10 10:40am
Msg #340325

Re: Talked to Attorney General Assistant in N.C. about Provident

I hope that the people in my area that keep accepting these assignments, as I turn them down, are reading this. Notaries participating in these will get burned too at some point!!!!! JMO

Reply by laurielnc on 6/9/10 10:43am
Msg #340326

Re: Talked to Attorney General Assistant in N.C. about Provident

Update again...the borrower's wife knew her husband was talking to someone but knew nothing about the process. I told her they expected to be given checks, she cut me off and said that might take another day or two to get the money together. I explained I was not going to come but what was being done was illegal and she was to have her husband call Attorney General. He's on the road so she will have him call later. She then asked me if there is a problem, why am I telling her since I work with Provident? She started to even get upset with me. I finally had to explain how they get in touch with me and I've never worked with these people before. But she thanked me in the end and I assured her I will not be showing up at 5 on Thursday. But thank you for your encouragment, sometimes it's hard but I would want someone to do that for me too.
Please keep posting all the issues you go through. It has really helped me the last 4 years.

Reply by NCLisa on 6/9/10 12:18pm
Msg #340333

I emailed the Attorney General about them yesterday.

If you look at the fine print in the docs, they also have the borrower give you a voided check so they can collect a $1500 retainer in 30 days. When they called me and asked me to do the closing, they told me it was a modification agreement, not that it was to negotiate. Once I looked at the docs, I refused it and sent an email with all the into to the attorney general's office.

I am so sick of these companies trying to rip off borrowers. I am so sick of notaries accepting these kinds of signings! Too many people out there that know this is wrong, but care more about a paycheck than the effects this kind of fraud can have on peoples lives, and society as a whole.

Reply by laurielnc on 6/9/10 1:27pm
Msg #340336

Re: I emailed the Attorney General about them yesterday.

Yeh Lisa! Yes, they just wrote me back to get a voided check. They sent me 2 packages by accident and one had me request $995 and the second one didn't. Wonder what that is about?

Reply by laurielnc on 6/9/10 4:34pm
Msg #340358

My reply from Provident.....

They were mad that I told them this late to jeopardize their signing (it's tomorrow @ 5pm) and when I called borrowers and they didn't even know I was coming! They want me to review the contract and see if they can answer any questions I have. And then they can help me conduct my business. I don't need that kind of business.

Reply by MW/VA on 6/10/10 9:02am
Msg #340422

Re: My reply from Provident.....

Did you tell them to call the AG in NC to see if they can do business in NC?

Reply by NCLisa on 6/10/10 9:39am
Msg #340426

They called me again yesterday, after I'd turned one back

on Monday. I told the guy on the phone same thing I told the other guy on Monday, that collecting funds up front for mods was illegal in NC and I'd talked to the AG's office. He said how could I report anything when I hadn't seen anything...I explained that I already had a set of their docs from the other mod I turned down. He called me liar, said they were doing a real service to people and I was a joke, then hung up on me. Either he's a sleazy salesman or some innocent kid that hasn't read the fraud reports about the company he is working for.

Reply by jba/fl on 6/10/10 10:48am
Msg #340439

Re: They called me again yesterday, after I'd turned one back

Most likely can't face the truth or doesn't want to.