Posted by Traci/MD on 3/9/10 9:41am
Msg #326056

Maryland

What happens when a non license title producer notarizes a DOT in Maryland?

Will the DOT be voided? Who does this harm?? ?

Reply by Ilene C. Seidel on 3/9/10 12:50pm
Msg #326075

Recently there was a commission to review the title insurance industry. The end result is the committee is going to ask legislature to require the closing agent and title company to put our TPL numbers on the dot or it won't be recorded.
This hasn't happened yet, your safe. Was it just a dot you notorized? I think your safe.
But if you are closing loans without a license your are breaking the law.

Reply by Traci/MD on 3/9/10 1:04pm
Msg #326078

I have my LTP.

That would be great. . So if they pass this reg. Then what happens when a loan has funded and they can not record, because they use a non license notary?

Reply by Ilene C. Seidel on 3/9/10 8:33pm
Msg #326151

Re: I have my LTP.

Good question, probably the loan will have reclose at the expense of the title company.
Its their job to hire a licensed tpl agent.

Reply by Linda_H/FL on 3/9/10 8:40pm
Msg #326154

What happens in MD when the package is sent

to the borrowers with instructions to "find a notary" - are they instructed to screen for a TPL?

Just curious.

Reply by loancloser46 on 3/9/10 9:00pm
Msg #326159

signing services should be banned from tpl states

I firmly believe that in TPL states there should be no "third" party involved. Interaction should be between the TPL and the title/escrow company. A copy of the license should be faxed to the title/escrow company to prove that the closer is in fact licensed. Title/escrow should keep these on file and request a copy of the renewed license upon expiration.
The majority of signing services do not give a hoot whether or not someone is licensed. They are just "shopping" for the cheapest guy in town. Before I get jumped on...yes I am aware there are some good ss's out there, BUT there are many more who are could not care less about the law and repeatedly use people who they know are not licensed in order to keep more of the cut for themselves.

Reply by BossLadyMD on 3/9/10 9:33pm
Msg #326171

it still falls on the notary

to make sure that they first, understand this business, and second, have the proper credentials. certainly the SC should know better but the notary, who is not a TPL, that conducts a closing is breaking the law and will be held accountable.

Reply by loancloser46 on 3/9/10 10:07pm
Msg #326180

Re: it still falls on the notary

I hope they are held accountable. I recently turned in two notaries in my area who have been closing loans w/o a license.
One of them never even had a license and has been closing loans for YEARS and the other notary lost their license and continues to close loans.
The party who never held a license had a deal w/ a shady TC who would have the notary go out and have the docs signed by the borrowers and fedex them back. The TC would then sign them and notarize them. They were aware the person was not licensed.
I recently forwarded a DOT the notary who never held a license notarized for a well known national TC to the Md Ins. Admin.
The Maryland Insurance Administration assured me they are investigating both unlicensed parties. It appears as though the MIA is finally cracking down on people who are not abiding by the laws of our state. It is about time.

Reply by Traci/MD on 3/10/10 7:39am
Msg #326196

Just a plain notary...

This happens all the time. .. Some times they will have them sign and return. They will notarize once they receive them back.. I here that from people all the time.

Reply by Traci/MD on 3/10/10 9:00am
Msg #326208

Re: Just a plain notary...

This happens all the time. .. Some times they will have them sign and return. They will notarize once they receive them back.. I hear that from people all the time.