Posted by Blueink_TN on 10/6/11 8:09pm
Msg #399836

Conflict of Interest

I am a licensed loan officer AND a notary signing agent. Been filling both roles with no issues...up to now. I completed a RESPA signing yesterday, in my hometown, and the LO was charging an exorbitant amount of fees. I had my NSA hat on and completed the assignment as expected. It took all the self control I could muster up to not either scream "OMG your paying way TOO MUCH", or follow up with a much more realistic quote. I'm thinking maybe to stick to originating loan and closings...no more RESPA's. I respect your opinions/thoughts.

Reply by MW/VA on 10/6/11 8:21pm
Msg #399840

LO or not, I find it hard to restrain myself from time to time regarding people being ripped-off.
Again, I'm not privy to their financial situation, and whether this is the best deal they can get or not.
I think that's always been the biggest issue with your profession--their fear that we will beat them out of a deal. That must have been a tough one for you, but you know where to draw the line.

Reply by Shoshana/AZ on 10/6/11 8:56pm
Msg #399855

The best course of action is for us notaries is to

keep our mouths shut. I started this biz in the heyday of the subprime loans. It took a lot of self-control to keep my mouith shut. Remember that most borrowers have no hesitation to throw the notary under the bus. We become the scapegoats for many a cancelled loan. If you open your mouth you could find yourself on the wrong end of a lawsuit!

Reply by Scriba/NM on 10/7/11 1:47am
Msg #399867

This job is painfully simple. There are, of course, people who can screw up a soup sandwich. Our job as signing agents is just to witness a loan signing. This is NOT rocket science. We are paid to do this one simple task.

Your job is not to worry about whether or not someone is paying a certain amount. That's between the borrower and the lender. It seems (from what I have been reading here) that everyone believes they are some sort of "expert" and offer their (oft times) bizarre takes on what should or should not be done in this or that "situation." Good gravy!

Why would anyone would have a "conflict of interest" over a simple loan signing unless they were signing their parents' loan papers (applies only to Alabama, Oklahoma and Arkansas) is beyond me.

This is not a hard job, if anything, it's extremely simple, but it does take a modicum of common sense. Leave your political ideologies, religion, rage, heartache and dispepsia in your car, go the signing, and just be a Notary - do the job you were hired to do - it really isn't that difficult. (Half of the notaries doing this job shouldn't even be doing it according to a number of the title companies I work for). Conflict? Don't think so. -30-

Reply by TR/NC on 10/7/11 5:25pm
Msg #399944

I am an active real estate agent I have been selling for 11 years. There are times you just want to ask
them what the heck are you thinking!!!!!

I know I have to keep my shut, I don't know their financial business or why they made certain decisions.
It's none of my business, I wont put my RE license in jeopardy over it.