Posted by hodgy on 12/21/12 11:12am
Msg #447355

New form lately in some packages

In several of my packages lately from a few different companies there is a Notary Identification form where you complete the borrower identification information and have them sign.

Then the notary puts all their information in and they request that you put in the E&O Insurance Company, Amount, Policy # etc OR include a copy of the E&O with package.

I included my E&O in the first couple but now I don't feel I should as this. It seems a little extreme to me and I don't feel I should be required to provide that with each package and not sure who gets it and what they do with it.

All of the companies I work for already have that information so I don't feel I should include it with every package. What do you all think?

Reply by janCA on 12/21/12 11:20am
Msg #447359

Is this the one from MIS where if you provide copies of the borrowers' ID's there is no need to fill out the form? That's the only one I can think of offhand.

Reply by hodgy on 12/21/12 11:35am
Msg #447362

No. It is called

NOTARY IDENTIFICATION STATEMENT


I can provide a copy via email if you like.

Reply by Gregory/CA on 12/21/12 11:38am
Msg #447363

I've seen this form "Notary Identification Statement" a few times. I've provided my E&O copy once, but now I just write down the information on the form. It doesn't add too much time for me (15 seconds or so) to write it in.

While the company may have it on file, I presume they keep the information in each borrowers files as easy reference.

Reply by Gregory/CA on 12/21/12 11:40am
Msg #447366

Sorry, forgot one thing. . . They ask for the notary seal,

which I decline to include, but do post a message similar to "Sorry, California Law does not permit Notaries Public to place our seal without a notarial act."

I haven't had anything come back as a result of it.

Reply by ToniK on 12/21/12 11:40am
Msg #447364

I see that alot in Avenue365 docs. I filled it out once but I no longer fill it out. They have it on file. They can pull that information. Im not going to fill it out everytime I have a closing with them. They have never called about the form not being filled out.

Reply by hodgy on 12/21/12 11:54am
Msg #447370

That is exactly how I feel and YES that is one of the companies that includes it and they DO already have it.