Posted by NC_Notary on 3/26/10 2:21pm
Msg #329106

NotaryPro & Loan Modifications.... Do they still pay?

I had NotaryPro contact me for a second time to take care of a loan modification where I need to collect upfront fees. The first appointment the borrower never called me back but NotaryPro still wanted me to travel out and of course borrower was a "no show". They just called me again for a similar assignment. I don't really want to be bothered with collecting money because it seems like the borrowers are being forced and is probably why they don't answer their phone.

I just want to make sure NotaryPro still pays their notaries before I even waste my time accepting assignments from them.

TIA

Reply by BossLadyMD on 3/26/10 2:23pm
Msg #329107

i can attest to my timely payments and....

in maryland, only attorneys can collect upfront fees, no brokers/lenders. its illegal.

Reply by NC_Notary on 3/26/10 2:29pm
Msg #329111

Re: i can attest to my timely payments and....

I called the Dept of State in NC and their telling me I could collect fees. I hope they gave me the correct information!

Reply by BossLadyMD on 3/26/10 2:31pm
Msg #329112

Re: i can attest to my timely payments and....

you may be able to collect in NC. but in maryland we can only collect fees if its for an attorney.

Reply by Doris_CO on 3/26/10 2:43pm
Msg #329116

What fees are you collecting? Are these large fees (thousands of dollars) to pay for the modification service or to pay the overdue payments that have been missed. Do yourself a favor and do a search on modifications on this site. Last year there were scam companies that charged borrowers from $2000. to $3500. for the modification and then never carried through on their promise. The borrowers still lost their house as well as the money they paid those modification companies. A lot of those companies were closed down by the AG's of the states snd the Feds but some are still around and using Signing Services to hire notaries.

Reply by Linda_H/FL on 3/26/10 2:48pm
Msg #329118

Yeah..Doris is right...I'd check this out very closely...

search here for info on it...you may be authorized to collect "legitimate" fees - but your state may not allow this type of transaction...I know *I* wouldn't want my name associated with any of those applications.

21st Century started farming out to SS's when notaries stopped working for them - many others started doing that too to get the jobs done.

Be vewwy vewwy careful...

Reply by NC_Notary on 3/26/10 2:53pm
Msg #329120

Two checks (1 post dated) each in the amount of $1250

I always turned down 21st Century but I thought NotaryPro modifications would be legitimate.

Maybe not???

They are dealing with Marilyn Scheer Law Group for these Mods........

Reply by MW/VA on 3/26/10 4:03pm
Msg #329134

Dealing with an attorney DOES NOT MAKE THESE MODS LEGIT.

If you read the laws in most states it expressly deals with large upfront fees for promises of a mod. Legal firms are not exempt from that law. All I know is that it's illegal in VA & I don't take any of those.

Reply by BossLadyMD on 3/26/10 4:06pm
Msg #329137

its not illegal to collect upfront money in md for attorney

the moral of the story - check your state laws first

Reply by BossLadyMD on 3/26/10 4:05pm
Msg #329136

loan mods are a legal recourse for consumers.....however

many predatory lenders were bilking folks out of thousands of $$ with only the 'promise' of getting them out of bad mortgages. AGs and the feds stepped in and shut them down. loan mods and the applications are very much legal here in maryland. however, as i stated earlier, only an attorney can collect a fee for service upfront. i cannot collect any sum of money for a lender or broker upfront for a mod in maryland.

PS - a lot of notaries on here dont feel that its morally right and ethical to collect $$ from someone who is obviously already struggling financially. double check what your state laws are before taking the assignment. i will do a loan mod signing, no problem for me as long as they meet my fee.

Reply by LKT/CA on 3/26/10 8:20pm
Msg #329172

Re: loan mods are a legal recourse for consumers.....however

In California, even attorneys cannot collect money upfront for loan mod services.

Reply by OnTrackNotary - OnTrack on 3/26/10 9:51pm
Msg #329180

3/26/2010 Poor Don't take the call you will be Sorry.Call Escrow if they don't pay U CA
3/20/2010 company pays as promised, just pays a very low fee MD
2/28/2010 Contacting ESCROW will help you get paid.Always keep escrows ph # CA
2/8/2010 After several calls & emails, I finally got paid (90 days late) Beware of them CA
12/29/2009 very disrespectful! will never work for them! WI
11/20/2009 wanted to pay 75. for e docs. new owners trying to get back good rep FL
11/10/2009 Slow to pay, but so far have been paid CA
11/5/2009 Slow to pay TX
10/27/2009 Dead beats. Every excuse in the book not to pay the notary. CA
9/25/2009 they don't reply to request for payment. was told new owners. CA
9/18/2009 Sleazy company - had to call THEM to get paid - still not here - signing 7/07/09 PA
9/10/2009 Still not paid for a 6/20 signing. TX
9/9/2009 terrible/horrible/disgusting do not do any signings for them! blackball CA
9/4/2009 Just called for a mod application collecting money for non English speakers.Nope HI
8/30/2009 No problems working for them, but it was in March and still not paid! IL
8/28/2009 No pay. They owe me for two signings from April 2009. CA
8/18/2009 paid within 3 weeks PA
8/11/2009 50 days out on one signing, still no payment CA
7/31/2009 They pay you when they want to. Had to chase Michelle for payment! TX
7/4/2009 had to chase them for payment from 2/2009 and just received payment never again! NJ
7/1/2009 Paid 57 days, gave story about servers were down and messed up acct software. FL
7/1/2009 Slow pay or no pay............ CA
6/19/2009 no pay....beware CA
6/11/2009 Won't pay-almost 2 months Same story-computers down SC
5/4/2009 Slow to pay is understatement. Chasing them for my pay (11 wks post-close). IL
5/4/2009 low pay, sloooooww to pay LA
12/2/2008 Low fees and too many annoying extra fax-back requirements. CA

Reply by cadmonkey/CA on 3/27/10 12:13am
Msg #329190

paid me in 45 days

Reply by Lesley/MO on 3/29/10 12:51pm
Msg #329441

Re: NotaryPro

I have been doing a lot of closings for this company. They were paying very slow but have gotten a lot better. They are paying within 30 days now. They did lower their fees to $75 from $90 but the packages are only about 60 pages and they go very quickly. I think I have closed about 25 of these this month.
I really like them. They are the easiest to work for. No red tape. I do wish they paid more....

Reply by Illa/NC on 5/25/10 12:04pm
Msg #338037

Re: NotaryPro

I was contacted by them to take residential loan modification retainer agmt to client, get it and other docs signed, notarize an affidavit of identity, collect a $3,500 retainer check and send all back to Scheer Law Firm in California. Something about this didn't feel right in my gut. After I returned to my office with signed papers and check in hand, I researched and found that in NC it's illegal to charge an upfront fee for foreclosure assistance. Even though I don't know if the client is facing foreclosure, I just do NOT want my name and/or notary seal to be involved in anything remotely close to illegal. So I've informed Notary Pro that I will not be sending any docs or check to the law firm and that I am returning the same to the client. I believe this is the best course of action for me to remain a dedicated, law abiding notary in the state of NC.

Reply by Judith/NY on 12/19/10 6:51am
Msg #365502

Re: NotaryPro

I also handled one of those loan modifications/"collect big money upfront" deals for 21st Century last year. The borrower had been very concerned about the legitimacy of the company, and I had to tell her it was the first job I'd done for them. The whole thing smelled so badly to me that I came back and checked online and found that there were so many complaints about the service that I doubted its legitimacy. I don't care whether it's legal or not in NY, I just didn't want to be associated with this type of arrangement and totally agree with the poster above who felt it wasn't fair to be taking money from people who are already struggling, so I called the package back from the courier service and returned it to the borrower. I was just contacted by NotaryPro to handle something called a "Debt Settlement." I also was solicited by another agency to do the same sort of thing. Anybody have any knowledge about these transactions? Are they legitimate or just another way of parting struggling borrowers with money they don't have to spare? I have no intention of getting involved if these transactions aren't above-board.