Posted by Smug/Fl on 9/29/10 7:20pm
Msg #354793

LSI signing pkg

Have completed 3 signing for LSI and just rec'd a lengthly sign up pkg for them, I dont really like filling these things out. Just wondering if everyone else who works for them was required to fill it out.
thanks

Reply by NJDiva on 9/29/10 7:23pm
Msg #354794

Hmmmm, don't remember but I LOVE them. Take the time, it's worth it. I've never worked for a company where EVERYONE is nice. That company seems to be that way.

Reply by CopperheadVA on 9/29/10 7:30pm
Msg #354796

YES!!!! I had to fill it out and submit a BGC

I was asked for the BGC later, after I had completed several closings for them. Their BGC costs $40 but I got a free one via Msg #299894.

I remember the LSI sign-up package is rather lengthy, like 30 pages!

Reply by Shauna/WA on 9/29/10 7:45pm
Msg #354801

Yup, I remember it. They were one of my first I remember thinking that I'd filled out job applications that were shorter. However, they're a fabulous company and it was well worth my time.

Reply by Claudine Osborne on 9/29/10 10:38pm
Msg #354810

Do yourself a favor fill out the package..They are well worth the trouble..Super nice and easy to work with!

Reply by JulieD/KS on 9/29/10 11:06pm
Msg #354812

NO!

I refused to fill it out and I have not submitted a BGC. They hire me anyway. Just say NO to ridiculous sign-up packages. As contractors, only a W-9 is required.

Reply by Susan Fischer on 9/29/10 11:50pm
Msg #354815

Completely disagree with JulieD/KS. Companies have

every right to ask for credentials, require applications, and verify the subs with whom they contract.

Your attitude smacks of entitlement to work offered (for which you refuse to comply with best practices of empoyers) - which, is their right and responsibility to verify and document sub-contractors' they hire.

Just because they hire you "anyway" - consider the size of your 1099 from this fine, established company, as opposed to those of us who have a more professional attitude about the real world Market Place.

Document the file. It's a Maxim.

You said "As contractors, only a W-9 is required." First you must be hired. That's another Maxim.

LSI, etal, and many of us, go back years, and realize there are cumbersome hoops to jump through, some worth the minimal effort, some not. LSI is a solid and consistent source of income for the Remote Closing Industry, our Industry - and personally, it's a small thing, really, to act like a real Sub-Contractor, and comply with what are evolving into Industry Standards for accountability.

jmho.

You might get the spill-over work, but you're not a First Call. Betcha.

Reply by Julie/MI on 9/30/10 6:57am
Msg #354827

Re: Completely disagree with JulieD/KS. I agree with Susan

I used to work for the purchasing department in the county I live in (which is why I'm so jaded on poltics, another story) and any vendor that wanted to do business with us, from the bakery that supplied the bread to the youth home, the companies that cleaned the windows, to the company that cleaned the sheriff's deputies' uniforms, ALL had to sign contracts or they didn't to business with us.

It's not unreasonable to have a contract and I'm rather suprised that any notary would be opposed to a contract since so many want spelled out notary laws and handbooks from their states.

Reply by Linda_H/FL on 9/30/10 7:17am
Msg #354829

I disagree too

Granted when I saw the signup package my first thought was "ugh"...but this is a good company and the time spent in completing the signup package and submitting the documentation required has been one of the best business investments I've made...

JMHO

Reply by Bob_Chicago on 9/30/10 8:02am
Msg #354830

Not directed to any particular notroter, but I have noticed

a number of posters who seem to be on track to
ride a high horse straight to the poor house.

Reply by jba/fl on 9/30/10 8:46am
Msg #354833

Re: Not directed to any particular notroter, but I have noticed

Isn't JulieD/KS also a tax person? I'm inclined to go along with her statement: they only need W-9.

The bread company, the water company, electric company - these are not applications- given type of companies, yet they are supplying services, just as I am. I am not an employee - therefore, they do not need to have all this information on me. Also, if they do want all this 30 pages of crap, then I need a privacy policy that is listing, in detail, how they are handling my information and I want 30 pages of their information to satisfy me as to their credit worthiness.

Also, having read Msg #325035 just a minute ago, now I totally understand Bob-Chi's post.

Nope: W-9 only, small app and/or resume, short contract saying they pay in xx days, for example. The rest is overkill and probably wouldn't apply in a right to work state anyway.

I am not an employee!

Reply by Ocean Pacific Notary Services, Inc. on 9/30/10 9:46am
Msg #354841

Re: Not directed to any particular notroter, but I have noticed

We need a sign up pack up for our notaries and NO, a W-9 is not enough and RARELY completed correctly. If audited by the IRS for subs, I need to show them there is a clear agreement (not contract) in file attesting that notary is a sub and not an employee. I have a copy of their commission/BOND/E&O AND TPL (some states) to send to our (1) insurance carrier of our $1M EO policy which requires it in case there is a legal action that includes our corp and the notary, (2) and I am required to send notary's current commission status to some lenders Before loan will fund and TPL before it can record. So Julie can say what she wants, but a W-9 is NOT ENOUGH.

Reply by JulieD/KS on 9/30/10 10:22am
Msg #354844

What it boils down to is this:

If I want to work for a signing service, I will jump through their hoops, fill out all their paperwork and submit it.

I choose NOT to work for signing services, I choose to work direct for title companies. They pay better, pay much faster and don't require a contract. I am a free agent; I do not sign contracts.

I also do taxes, am an Enrolled Agent, and I am perfectly aware of what the IRS does & does not require when examining a tax return.

When a signing service calls me because they need my services, I let them know in advance that I will not be signing a contract since THEY CALLED ME. That's the difference. If I contact them, yes I would expect to jump through their hoops. I don't contact them; I have no interest in working for them. If they need my services, then they will play by rules. And they do.

Reply by Hugh Nations Signing Agents of Austin on 9/30/10 11:19am
Msg #354848

Makes sesnse to me

We are subcontractors who, on behalf of the prime contractor, go into people's homes at all hours of the day and night. We are also privy to the most intimate details of the finances of borrowers. I frankly am surprised that there have not been more instances of unscrupulous signing agents who have used that access to the detriment of borrowers.

Whatever the actual motivation for signing services requiring contracts and/or vetting, I can understand why any lender, title company or SS, considering the access mentioned above, would require extensive examination of subs. Even if we are independent contractors, the prime is looking at the possibility of substantial liability for any inappropriate activity by a signing agent.

The very first time a signing agent takes advantage of a borrower physically or financially in a well-publicized instance, you can expect to see skittish lenders/TCs/SSs demand far more vetting than we are experiencing now.

Reply by Susan Fischer on 9/30/10 11:24am
Msg #354850

Yes, Hugh, something about due diligence comes to mind. n/m

Reply by JulieD/KS on 9/30/10 11:26am
Msg #354851

Re: Makes sesnse to me

This is why they need to hire experienced agents like me with many, many years of experience. I have it right on my profile that I have business referrences that I will provide.

Experience counts. That's why I charge more. You get what you pay for.

Reply by Susan Fischer on 9/30/10 11:23am
Msg #354849

Well, I'm sure SSs will take note of your 'rules.' n/m

Reply by JulieD/KS on 9/30/10 11:27am
Msg #354852

Re: Well, I'm sure SSs will take note of your 'rules.'

Susan, if this is meant to be a slam to me, then don't bother. Like I said, I don't seek out signing services. Over the years, very few have proven to be companies I want to work for.

Reply by Susan Fischer on 9/30/10 3:49pm
Msg #354887

Not a slam, just an observation. I too have faves and 'do

not use' companies.

I just don't agree with your attitude, nothing personal.

Reply by JulieD/KS on 9/30/10 4:46pm
Msg #354893

Re: Not a slam, just an observation. I too have faves and 'do

Nothing personal taken. Attitudes aren't necessary here just because we have different business policies.

Reply by JulieD/KS on 9/30/10 11:37am
Msg #354854

Re: Not directed to any particular notroter, but I have noticed

If a signing agent is not intelligent enough to fill out a simple W-9 correctly, then no wonder you require a signed agreement. A W-9 is a simple form requiring name, address, SSN or EIN and a signature/date. Simple, simple. Are you sure you want them in charge of a refi package if they can't figure out a W-9?

Becoming an enrolled agent back in January was the best investment I ever made in myself. My phone rings all the time now (four calls just this morning and it's not even noon). People need help. I'm here to provide it.

Reply by JulieD/KS on 9/30/10 12:27pm
Msg #354862

To Ocean Pacific

I've read and re-read what you wrote and I respectfully disagree. If you issue 1099MISC forms to all of your contractors to whom you paid $600 or more, then the IRS is not going to ask you for agreements to back up that they are contractors.

The only time the IRS would ask for such documentation is if you have a bona fide EMPLOYEE who has filed a Form SS-8 with IRS because she feels she is actually an employee but is being treated as a contractor. An employee would have payroll taxes withheld and the employer would be paying their half of SS/Medicare taxes.

The best way to prove someone is not a contractor is to have a bunch of rules telling them how to do their job. Independent contractors are just that: Independent. As contractors, we are not likely to file SS-8 forms because we know we are contractors. Here is a link to the form: http://www.irs.gov/pub/irs-pdf/fss8.pdf If I am missing something, please tell me.

I could be wrong here...but that's what I love about tax work. It really makes me work my brain trying to see all sides of an issue so that my clients WON'T have an issue with the IRS.

Reply by Julie Dailey on 9/30/10 9:54am
Msg #354842

Re: Not directed to any particular notroter, but I have noticed

I have never been asked to fill out contracts by a title company. I am hired by title companies and very few signing services. You all can take the signing services that require extensive paperwork and pay peanuts. I know that someone here said he'd rather have 10 $85 signings than hold out for a decent fee, but I command, and get, a higher fee.

Have you read these contracts you are so willingly signing? I have, and am not about to sign off on them. I tell a company up front that I will not sign a contract and if this means they can't use me, I understand.

No high horse here, Bob. Definately no poorhouse, either. I live a very nice life and I say no to signing agent contracts. I don't require contracts and backgrounds checks from the people I hire (who are contractors) to work on my house. I get them by referral and that's good enough for me. My company policies work for me and I share here so that others can take or leave what they want from how I've learned to run my business.

Reply by James Dawson on 9/30/10 9:57am
Msg #354843

Re: Not directed to any particular notroter, but I have noticed

I agree with Julie/Ks...I cannot believe when push comes to shove, if they need a notary for a job and they cannot find a notary in "their" database, the signing won't get down. What is the bottom line? Getting the job done or capturing someone's dreams.....I've had this issue, gone to court.....not necessary, just disclaimers according to the judge!

Reply by Donna McDaniel on 9/30/10 11:37am
Msg #354855

Re: Not directed to any particular notroter, but I have noticed

Aren't contracts standard between contractors and subcontractors in any industry?

Reply by JulieD/KS on 9/30/10 12:03pm
Msg #354857

Re: Not directed to any particular notroter, but I have noticed

I don't know, but we are not sub-contractors and signing services are not contractors. They are a business and we the vendors (also known as independent contractors). Maybe an attorney can weigh in on that.

I now do taxes for a lady who cleans houses. She hires ladies to help her clean houses and she doesn't make them sign any contracts but now that I am her tax lady, I've set her up with a file folder of W-9 forms and have suggested that she not give them their first paycheck until they provide a completed W-9. Makes it much easier come time to issue 1099MISC forms. It's funny how people will disappear at tax time when you want their SSN for tax purposes! So, no W-9, no paycheck!

Most companies do not require extensive sign up packages...just some of them. I think if i were a signing service paying low fees, I would require extensive documentation, also.

Reply by Donna McDaniel on 9/30/10 12:23pm
Msg #354860

LSI is not an SS.

If a reputable TC such as LSI wants me to sign a contract in order to provide services, I have no problem with that. Contracts spell out exactly what is expected of both parties. Yes, I read it and make changes if I don't agree, line out, add terms, etc before I sign.
IMO, cleaning someone's house is different from handling borrowers personal and financial information, not to mention the checks we are asked to courier.

Reply by JulieD/KS on 9/30/10 12:31pm
Msg #354863

Re: LSI is not an SS.

Maybe the reason LSI doesn't ask me to sign their contract is because I worked for them LONG before the contract ever came into being. I proved my proficiency and they know i will do the job right.

And, I disagree. Cleaning someone's house is very personal. They may not be directly handling financial documents, but they have access to a whole lot of stuff! Plus, being as low paid as they are? My client had to get rid of several maids because they were stealing from her clients.

Reply by Donna McDaniel on 9/30/10 12:57pm
Msg #354865

I hear you..

That's why I clean my own house. Bad analogy.

Reply by Calnotary on 9/30/10 2:19pm
Msg #354876

Julie...

That lady that you do the income taxes isn't she an employer and she just give her employees a 1099misc just to escape the FICA,employment taxes,etc?

Reply by JulieD/KS on 9/30/10 3:40pm
Msg #354885

Re: Julie...

Hmm...never thought about that. Since the turnover rate is pretty high, and they work by the job, not by the day...perhaps that's why. I will look into it.

Reply by JanetK_CA on 9/30/10 4:34pm
Msg #354891

Re: Julie...

I'm no expert on this, but I'd bet a big factor will be whether or not they provide any of their own supplies, tools, ('course, they may use the homeowner's), whether or not they have other clients, how much control does the owner have, does she insure them, etc.

Reply by Donna McDaniel on 9/30/10 5:15pm
Msg #354896

Re: Julie...

Don't forget about those pesky I-9s, Cali.