Posted by MistarellaFL on 8/3/11 11:35am
Msg #392477

Altisource Portfolio Solutions™

I am being solicited by their vendor network, and wondering if anyone has worked with them and what their experience may be.

Reply by Linda_H/FL on 8/3/11 3:26pm
Msg #392515

They're new, Mist - building their database.

Search - someone posted here one day last week

Good luck - $65 base fee, $25 e-docs, $25 for borrower no-show, print fee ONLY if you print over 30 pages - they REQUIRE copy of DL, DL #, and they must be named as a "Certificate Holder" on your E&O policy (can't be done). Someone sent everything else in and got a follow-up e-mail that they now wanted a copy of the car insurance.

When I questioned some of their requirements, there is no wiggle-room - it's required and that's that.

Reply by A S Johnson on 8/3/11 3:37pm
Msg #392517

It seems the lowballer are the ones who want the MOST information from you. It also seems to be a w way of diverting your attention in questioning them as to thier ablity and/or willingness to pay for thier assifnments.

Reply by MaggieMae_CA on 8/3/11 4:24pm
Msg #392527

Altisource Portfolio Solutions™

I wonder if these companies are asking more from us to cut down on their own liability and if they are trying to undercut their competition and not having the capital resources for when something goes wrong, they want to come back and collect from our insurance???? Just wondering.

Reply by Les_CO on 8/3/11 7:11pm
Msg #392552

Obviously no one running their business has had or read an E&O insurance policy, or has been a notary with same, or ever been a NSA, or has the slightest clue about this business. Just why in the world would anyone ever work for (and extend credit) to such morons?

Reply by MistarellaFL on 8/3/11 11:25pm
Msg #392588

Thanks all.

He told me $65, I quoted $125, but he wanted me to go ahead and return the packet with my fees.
I saw on their website they require a 1M E & O policy, which I won't bother explaining my need for a $$$$ monthly minimum to this guy, cuz he just won't get it.

Reply by Linda_H/FL on 8/4/11 7:53am
Msg #392603

The funniest thing about this...is....

Jared spent some time calling individual notaries - spent 30 minutes on the phone with us asking us questions about what WE expect from the SS's we work with and how he can structure his SS so notaries will want to be a part of the network.

As nice and sweet as he was to speak with, that "junk" (mho) agreement was the result - not sure why I wasted 30 minutes on the phone with him.

Reply by NJW/FL on 8/4/11 8:55am
Msg #392608

Re: The funniest thing about this...is....

I was told I would be quoted fees after I signed up and was called for an assignment. I also read their "Provider's Supplemental Terms and Conditions" which states that there are transaction fees for each order that Provider provides services for. They wanted me to just click on "agree" and I was supposed to just take their verbal assurance that this was not really so. We went round and round and I spoke with 3 different people. I told them they would have to change their agreements and that it would be best to provide fee structure up front, not after notaries fill out and send all the paperwork. They also told me it would be okay without them being listed as the certificate holder on the E&O policy as I told them it cannot be done. They implied that other notaries were signing up with them without hesitation when I told them that no one would take their word and agree to the terms in their paperwork. I guess some people don't read.

Reply by Linda_H/FL on 8/4/11 9:02am
Msg #392609

Their fees were on Exhibit 1 attached to the agreement

they sent to me. When I questioned them they told me they could not be changed.

I had nowhere to go to "click" on anything - everything was sent as an attachment - unless I didn't get far enough into the process.

The biggest hitches were the fees and that one section that said our notarizations would be done in accordance with their client's instructions (that one really got me).

As for this? "They implied that other notaries were signing up with them without hesitation " - sounds like the old "We have dozens of notaries who will work for that" or "There's dozens who will do that for us"....yep...right.

I'll wait.

Reply by Ilene C. Seidel on 8/4/11 8:23am
Msg #392606

Re: Thanks all.

Funny I quoted the same fee and add on's, Md is a license state, they declined my fee. I figured I could chase them off and they declined my excellent service. :>)