Posted by LeeH/IN on 6/29/11 5:18pm
Msg #388158

Caught in the middle -help

Structured settlement signed but signer does not want papers sent in. Papers signed last night. This morning signer called and said he didn't want to go through with deal. Wants me to shred the paperwork. He didn't have paperwork 10 days to look over. I told him to contact the co. immediately and get back to me because I was holding the papers as a favor to him as he was to make copies of the settlement to return in the pkg. I called the SS to let them know what was happening and they in turn called the client. Now SS says everything is OK with signer & I should drop pkg. Once papers are signed the signer cannot tell the notary what to do with them. Spoke to signer again and learned he did not OK anything with the Co. He is frantic. I feel I have to do what the SS directs but feel caught because co and signer are not agreeing.

OK, conference call with signer and co. All agree I should drop the pkg.

I suppose you will say I should have dropped the pkg asap and the whole thing would have been out of my hands. But since this didn't happen what do you think about the disagreement between co. and signer?

Reply by Buddy Young on 6/29/11 5:27pm
Msg #388160

I think the signer has the right to change his mind. Of course the agency will want you to send the papers in right away. Evedently they called him and talked him into it.

Reply by LeeH/IN on 6/29/11 5:36pm
Msg #388161

Hopefully when this goes to court the judge will see this is not in the best interest for this young fella. Sometimes it's hard to bite your tongue and remain impartial.

Reply by SouthernOK on 6/29/11 5:40pm
Msg #388162

BO should have the RTC

I am doing one this coming week and in the paperwork the BO has the right to cancel, but must send in the paperwork blah, blah, blah just like in a refi type deal.

Did you have to hold the papers until you got the OK to ship? (After faxed pages were approved.) If you got the OK to ship and didn't then that's a problem in my book because the BO has a method to cancel in his copy of the paperwork.

You are between a rock and a hard place but you have an obligation to carry out your duties to the hiring party. IMHO.

Reply by Teresa Rowe on 6/29/11 5:43pm
Msg #388163

Re: I agree you accepted the job so you must drop the docs n/m

Reply by Lee/AR on 6/29/11 5:50pm
Msg #388164

You were hired as a notary by Str.Stlmnt co. thru SS. As such, you are not the signer's gatekeeper. Tell signer to discuss w/structured settlement co. And he should have a RTC to use anyway.

Reply by Linda_H/FL on 6/29/11 6:56pm
Msg #388169

I had a similar situation a couple years ago

Lady called me after the fact - don't ship, my attorney says I never should have signed. I told her I had no choice and and had to ship the docs back. I contacted my company and advised them - they told me to drop. I then got a call from this lady's attorney telling me not to drop the docs - I told him the same thing - I had no choice, my instructions are to drop the package. Gave the attorney the company contact info, gave company the attorney info, dropped the package and they worked it out for themselves.

As someone said, we're not the gatekeeper. I get docs, get them signed, return them - that's it. I cannot get into negotiations between a company and a signer, no more than I get involved in rescission notifications - notice to me is not effective to cancel the deal.

IMO yes, I agree - you do what you're hired to do - get 'em signed and ship back.

Reply by MW/VA on 6/29/11 7:04pm
Msg #388170

That's a tough call to make, IMO. We're hired by the ss to

complete the job. Our first duty is that of a notary. I think some would honor the signers request & some would ship the docs.
I think you might get subpoened to appear in court if it goes to court, because the signer did specifically tell you he changed his mind and didn't want to papers shipped.
What an awful situation to find yourself caught up in. Good luck.

Reply by CF on 6/29/11 8:26pm
Msg #388172

Re: That's a tough call to make, IMO. We're hired by the ss to

If you are going off the notion that the first duty is of a notary; then you would probably not ship the docs back. As a notary you are impartial and would do what the signer asked. This is why there are issues....you are not impartial b/c you want to be compensated. If your compensation had nothing to do with it....then give the docs back to signer or shred.

That being said IMO it is called karma. This is the main reason that I do not do structured settlements....I have been involved in only 2 of them and both times the signers backed out while I was there and refused to sign. That was enough for me after I saw the paperwork. I turn them down....I do not want to be in the position that you were just in and I certainly don't want karma to come back and bite me. Anyone can argue the karma angle b/c you were hired to perform a job....for me it all comes around. Especially, when you consider that people do not understand the terms. JMO

Reply by MikeC/NY on 6/29/11 9:31pm
Msg #388179

Re: That's a tough call to make, IMO. We're hired by the ss to

"If you are going off the notion that the first duty is of a notary; then you would probably not ship the docs back. As a notary you are impartial and would do what the signer asked. "

You stop being impartial at the point where you do what the signer asks - because at that point, you've come down on the side of the signer.

Being a notary is only part of the job, and one could argue that it's not even the most important part. In this case, the OP was hired by a company to facilitate a signing and return the signed documents. Period. There's no wiggle room there - if the signer has a sudden case of buyer's remorse, he has to work it out with the company rather than with the messenger (notary). That's what an RTC is for...

Not trying to sound harsh, but anyone who gets too emotionally involved in these transactions is probably in the wrong business. We're hired to do a job, not to decide which side is right...

Reply by jnew on 6/30/11 10:13am
Msg #388198

Re: That's a tough call to make, IMO. We're hired by the ss to

I agree that they should be dropped despite intentions of signer. Signer needs to work things out with client not you. I would have told him that the docs were dropped immediately after closing.

Reply by LeeH/IN on 6/29/11 9:25pm
Msg #388177

Thanks for your comments. Pkg has been dropped. I wish the best for this young man who is on his own.

Reply by mwm143 on 6/29/11 9:34pm
Msg #388180

Was there an RTC? n/m

Reply by LeeH/IN on 6/30/11 12:34am
Msg #388181

Re: Was there an RTC?

No RTC in pkg. There was a sentence in the introductory page which we both read several times. It mentioned no obligation for 10 days but was unclear about cancelling. With other structured settlements I've done the signer had papers 10 days before I was sent out. I told him to clear this up with his rep but he went ahead and signed. He also signed a waiver to get legal advice before signing.

Apparently he was contacted today by other companies offering to buy his structured settlement. They mentioned the 10 days law and this made him distrust the company he signed with.

This kid is still a teen and wet behind the ears. I hate to see him make a big mistake but he wants that big check in his hands. As I said earlier, hopefully the judge will see this is not in the kid's best interest at this time and make a better decision on his behalf. It's not up to us, thank heavens. I just hope I don't get a summons as someone mentioned.

Reply by MW/VA on 6/30/11 9:37am
Msg #388195

There are no RTC's with a structured settlement. The seller

is sent the docs prior to the actual signing date & has time to review & consider BEFORE signing.
Once it's signed the deal is done. That's why they usually ask for faxbacks on these.

Reply by SouthernOK on 6/30/11 11:26am
Msg #388209

There should be a RTC

I do not know if there MUST be a RTC as I am not a lawyer.

I think that in this situation if I read correctly, the signer did not recieve the docs the required 10 days prior to the signing and upon reflection changed his mind.

Reply by LKT/CA on 6/30/11 9:41am
Msg #388196

When I call the borrower to confirm the appointment, I ask the following questions: Did you receive a packet for review? Did you call the number of the agent to call and review the paperwork with you as the note in the packet indicates? Did you call the agent to have all of your questions and concerns answered? I've only had two borrowers not sign but the majority are ready to sign.

In your scenario, you asked the borrower if he wanted to call the rep before signing and he chose to sign anyway. He never should have signed if he wasn't sure. I would have shipped the docs and he'd have to work things out with the company. I tell borrowers, "If you're not sure, NOW is the time to speak up because once you sign and I leave, that's it - the docs are shipped".

Reply by Notarysigner on 6/30/11 11:07am
Msg #388202

I basically do the same, I tell the client

that I am leaving and going directly to the shipping center once I leave the home. I also ask them if they have any question? If they say no, I'm shipping!

Reply by George Hand on 6/30/11 12:02pm
Msg #388218

Re: I basically do the same, I tell the client

and if they say NO, I'm shipping
Going a step further, if they say YES do you call the LO etc? What if the signer is not satisfied with answer? Docs have been signed (similar to my situation) you still have to ship.

I realize you're saying you confirm with the signer that everything is OK.

Reply by BossLadyMD on 6/30/11 10:09am
Msg #388197

If you dont do what SS instructed you to, you will be sued

You have a contract with the SS, not the signer. I'm not an attorney and this is not intended to be legal advise but I don't see how you can go against the SS and side with the signer. You contractual obligations with the SS that should hold up in any courthouse.

Reply by BossLadyMD on 6/30/11 10:14am
Msg #388199

Re: If you dont do what SS can LEGALLY instruct....yada, ya

Of course, this is referencing SS instructions that you can LEGALLY perform in the capacity for which you were hired....not intended to be legal advise, I'm not a lawyer..yada, yada

Reply by NJDiva on 6/30/11 12:09pm
Msg #388225

Aren't the doc's the property of the financial institution?

Also, unless they were given the three day right to cancel, we are not permitted to leave the doc's with the bo without authorization, right?

They are not ours to hold on to. What are you going to do, shred them? IMO, we have no right to do that. But I would feel for the bo as well. I, too, would say that I wish I could help, but they were already dropped.

Precarious position to be in for sure.