Posted by Virginia/PA on 9/15/11 10:46am
Msg #397444

RESPA rules question

I was asked to perform field inspections (just taking 7 pictures of each house) and I was told the "borrowers" requested the inspection. They only pay $10.00 per so it doesn't sound worth the time and gasoline. But just as a point of information. I asked the reason for the inspections and was told refinance.

If the person who performs the picture taking in the field inspection stage of a refi. application (and notaries are being requested to do these inspections), is the notary who did the picture taking precluded from being the signing agent who does the refi?

Sounds to me like the refi would pay a lot better than the inspection.

Don't want to get involved in respa violations - so that's why I'm asking. May or may not accept the job(s) but might do one next door for $10.00. But don't want to be precluded from being the signing agent either.

Please comment.

Reply by BossLadyMD on 9/15/11 11:26am
Msg #397452

I dont think it should matter....jmho...

Reply by Doris_CO on 9/15/11 12:37pm
Msg #397462

Chances of you actually getting a loan signing from this company or any other company they are associated with are probably pretty slim. It seems they are using the "inspection" instead of an appraiser, which would cost them a whole lot more then $10.00. You'll just have to decide whether these assignments are worth your time and effort for the amount they're willing to pay.

Reply by MW/VA on 9/15/11 3:20pm
Msg #397493

Many of us don't get involved in field inspection work.

It's not worth the effort for the money they are willing to pay.