Posted by mwm143 on 3/25/11 10:42am
Msg #377480

Professionalism replaced by greed

A TC scheduled a closing with me yesterday. Set to close this evening. I had to turn down another because I had two too close together as it was. Agree to $$$ I get am email this morning that it has cancelled and brwr is aware. In other words, don't call. Not 55 minutes later I get an email from NLC for the same closing offering $70.00!!

There is little professionalism left in this business from all parties.

Reply by CapCityAgent on 3/25/11 11:04am
Msg #377483

Re: Professionalism replaced by greed!

Unfortunately, it's the times in which we are living! I could not agree more. My co-worker is refinancing using e-signing. The bank he is re-fing with instructed him to go find a notary to notarize a few pages. I was trying to inform my co-worker of the difference between JUST A notary and TLP which is required in our state. I even wrote down some questions my co-worker to ask his bank to determine what the closing really consist of. Well, co-worker comes back to me letting me know that the notary at one of the local banks was incompetent and didn't want to read nor follow the instructions on one of the re-fi forms. I didn't feel any pity for my co-worker after total ignored the assistance I provided him with and wanted to do it the cheap way as suggested by the bank he was re-fing with. As a matter-of-fact, I told my co-worker the procedures required in our state which the notary at the bank was not educated about when it came to certain docs. All I can say is I wish him well in re-fi processing. I have this feeling he will be coming back to me asking for my assistance and acknowleding that I was right from the beginning. This may cause him a couple of months extra in regards to his actual closing date. We shall see!!!1

Reply by Linda_H/FL on 3/25/11 11:11am
Msg #377484

Maybe I'm missing something here...

"The bank he is re-fing with instructed him to go find a notary to notarize a few pages"

What's wrong with this? Perhaps the LO or a lender rep is going to conduct the e-sign portion of the closing not requiring notarization, which as far as I know they're quite capable of doing. This is almost the same as a mailaway - the notary just tends to the notarizations...period.

And does DC require a TPL for notarizations? I thought the TPL was required to do signings - not just general notarizations....

Reply by Roadie_MD on 3/25/11 5:00pm
Msg #377522

Re: Maybe I'm missing something here...not sure about DC

"And does DC require a TPL for notarizations? I thought the TPL was required to do signings - not just general notarizations...."

I honestly don't know about DC, but MD does. The LTP needs to put his/her info on the DOT for it to be recorded. As far as 'just notarizing a few pages', there is no such thing when a real estate transaction is concerned, unless there is another party (besides the notary)present who is conducting the closing or settlement. Again, this is just Maryland, I am not sure about DC.

Reply by Linda_H/FL on 3/25/11 5:05pm
Msg #377523

Thanks for the clarification...

So someone coming to you in MD to just get the security instrument notarized would need a notary with a TPL...correct? How would the general public know that?? Or is it left to the honor system of the notary refusing to do it if they don't have the TPL.

Reply by Roadie_MD on 3/25/11 9:16pm
Msg #377545

Re: Thanks for the clarification...

they are still working the kinks out....this was just enforced this year, TPL has been a requirement since 2006 in MD.

It is up to the notary to know better, and it is in the notary handbook. Many still play 'dumb' though. Supposedly the county will not record the mortgage if the correct information isn't notated. The title companies know as well.

Reply by Teresa/FL on 3/25/11 12:04pm
Msg #377487

Re: Professionalism replaced by greed!

Do you know if this notary was employed at a branch of the lender who is making the loan?

If the local bank notary was just notarizing signatures on a few documents in the package there is no requirement to look at any other documents within that package.