Posted by VegasNotary on 4/5/12 10:18am Msg #417032
Title Company questioning professional relationship
I have been working with a lender for the last few months and they have come to rely on me to professionally carry out their loan signings. This lender had a loan that had to go thru a National Title Co. and he was told since I was not on their approved notary list I could not do the signing.
I called the title company and was sent the needed paperwork, I delivered it directly to the title company and I was told that since I have a "relationship" with the lender it would be unlikely that I would be approved to sign with them. Isn't that why we are licensed, bonded and carry insurance to protect our 'relationships'?
I would like to fight this but I am unsure where to go. Any suggestions?
|
Reply by CJ on 4/5/12 10:59am Msg #417035
My opinion.
This is a guess, so no need to blast me if I am wrong.
The title company might think you somehow represent the lender, and they need a third party. Since you don't ACTUALLY represent the lender, you don't work for them as an employee, you technically ARE a third party. Perhaps you could call the lender, explain the situation, and have the lender request you from the title company. Then the lender could also reassure the Title compnay that you are an independent contractor, and not an employee. The lender can also say that you are professional and reliable and things go smoothly when they contract your services.
It's good that you signed up with the title company because they might have other work for you.
|
Reply by NJDiva on 4/5/12 11:01am Msg #417036
Or maybe they're lowballers and you're too
expensive for them...?
|
Reply by janCA on 4/5/12 12:04pm Msg #417041
Re: Or maybe they're lowballers and you're too
Or maybe they already have their "favorite" notary and don't want an outsider to take any of that work away from him/her. Fidelity, by chance???
|
Reply by CJ on 4/5/12 12:25pm Msg #417045
Yes, they could already have their favorites or . . .
Yes, they could already have their favorites or have someone cheaper in your area. Like was said in another thread: as nice as people are, there is no loyalty.
One time for me, a signing service went out of business. They had given me very steady work, and I wanted to keep working for their title company. I called the title company and asked who their new siging service was. I found it was someone I was already signed up with. I called the new SS company and said I had been doing that Title's loans for years. They said great and promised to give me the work, but they never did. They must have had someone else they already liked more than me.
|
Reply by Yoli/CA on 4/5/12 2:02pm Msg #417061
Re: Yes, they could already have their favorites or . . .
Yep ... sounds like Fidelity.
|
Reply by JanetK_CA on 4/5/12 3:25pm Msg #417073
Re: Yes, they could already have their favorites or . . .
Agree. And the irony is that a referral - which can sometimes be a loan officer - is needed to even get onto their list.
My first thought was that someone was blowin' smoke and trying to protect an existing relationship. I can't count how many times I've run into situations where a title co favorite signer was a spouse or other relative or close friend. Sometimes it's even been a former employee - or a current employee who was moonlighting. Those are pretty sweet arrangements that people will go to great lengths to protect.
|
Reply by janCA on 4/5/12 4:30pm Msg #417086
The signing service went out of business???
CJ and you called the title company and didn't try to solicit work directly from them?? What's wrong with that picture? That's what I would have done. You weren't stepping on anyone's toes, obviously, and you could have picked up a new title client. Holy Moly!
|
Reply by C. Rivera Chicago Notary Services on 4/5/12 1:24pm Msg #417054
well, do you have a relationship with the lender? conflict
of interest is what they're saying...right?
|
Reply by SharonMN on 4/5/12 6:26pm Msg #417105
Re: well, do you have a relationship with the lender? conflict
I imagine the title company has tightened up their policies in response to all the hubbub in recent years about loan officers using their pet appraisers that will put down any value the loan officer wants, robo-signing notaries, etc. They want to make sure you're really independent and will make sure the borrower's a real person, etc.
|
Reply by Les_CO on 4/5/12 2:35pm Msg #417066
I can certainly see why….There’s not a NSA out there worth a spit that can’t blow a signing in seconds just by asking a few questions. And IF they are a LO for, or are working for a LO with a competing company…they could easily steer the borrower to “a better deal”. These Title Company reps work very hard trying to get and keep a lenders business, and really don’t need to get blown out the door by some slick notary bird-dogging for the competition. You could try and assure them that you hold their clients strictly confidental and do not work for a competing lender. JMO
|
Reply by JanetK_CA on 4/5/12 3:41pm Msg #417077
I got the impression that the OP was working with the lender in the capacity of a loan signer, not a LO. Naturally, that would make a big difference, imo.
|