Join  |  Login  |   Cart    

Notary Rotary
Why does BofA
Notary Discussion History
 
Why does BofA
Go Back to June, 2011 Index
 
 

Posted by Mdene_AZ on 6/15/11 5:09pm
Msg #386390

Why does BofA

require all those faxbacks when no one else does?

Reply by SouthernOK on 6/15/11 5:14pm
Msg #386392

So they won't have to find Linda Green. J/K but not really. n/m

Reply by CopperheadVA on 6/15/11 5:18pm
Msg #386394

I have no idea why some TC require it and some don't - I did two BOA this week for LSI and neither one required any faxbacks.

Reply by Alz on 6/15/11 6:40pm
Msg #386402

I don't think BofA requires it. It appears to be a

requirement of a few SS and/or TCs. It is on rare occasions that I perform faxbacks because it adds additional time to my entire process. Time that most are no willing to pay for. IMHO

Reply by Notarysigner on 6/15/11 6:57pm
Msg #386404

agreed! and I don't know why because I

have done at least 200 BofA signings and never faxback a single one. I read the post here and wonder what's going on but it has never been a requirement for me. I'm sure it's a SS thing, can't figure it out otherwise.

Reply by jojo_MN on 6/15/11 10:53pm
Msg #386417

Correct me if I am wrong, but the requirement is for the title companies to fax them back to lenders immediately after "closing" in their office. By passing on the requirement to the signing agents, it saves them hundreds of minutes in scanning. All they have to do is have the nsa do the work for them...one more way of justifying their huge fee and our small one.

I have more than one Signing service and title company that have told me that "due to the economny" we have to lower our fees to be competitive with the other ones around the country. My standard answer is: My gasoline have hone up b 1/4 this year. My toner, paper, heating/cooling, electricity upkeep on printers, computers etc, have all risen much more than what you area willing to pay me, so I am unable to lower my fee. They in turn have not lowered theirs to either title company or borrower.

Mine will be stat as in their current records. Period1


 
Find a Notary  Notary Supplies  Terms  Privacy Statement  Help/FAQ  About  Contact Us  Archive  NRI Insurance Services
 
Notary Rotary® is a trademark of Notary Rotary, Inc. Copyright © 2002-2013, Notary Rotary, Inc.  All rights reserved.
500 New York Ave, Des Moines, IA 50313.