Posted by chuckie on 5/31/12 10:19am
Msg #422284

Altisource: This was posted on Linkedln

Altisource also wants the notary to add them as a certificate holder on the notaries E&O insurance!!!!!!!!!!!! I emailed the companies President and told him nicely I would have to respectfully decline do to their policies. I did receive an email back from him stating we could strike that from the contract and one of his vendor reps would be contacting me. No has further contacted me. Also in their initial email it stated they were working closely with the NNA, I called NNA and they have never heard of this company. RED FLAG

Reply by A S Johnson on 5/31/12 10:41am
Msg #422288

Harry, please resond. You sell E & O insurance.
Can you add a 3rd party to E & O policy? If we can how do we know who is filing on it?
What is Merchants Bonding Co position on this?

Reply by dutchcloser on 5/31/12 10:48am
Msg #422289

I was to was asked by another company that in order to stay on their "list" I would have to add them to my E&O policy. I contacted my E&O company and they said that is not possible. I also contacted the NNA and they stated the same thing. They should have their own E&O with an umbrella to cover their independent contractors, etc...at least that's what I'm told.

Reply by shawna on 5/31/12 11:14am
Msg #422290

Wow! I didn't know my post from LinkedIn would show up here! LOL...

Reply by Linda_H/FL on 5/31/12 11:36am
Msg #422291

I already check with NotRot about this request back when I was first contacted by Altisource about this - it cannot be done.

Reply by shawna on 6/7/12 12:51pm
Msg #422831

Since this post was taken from Linkedin I feel the need to report on Altisource. I met with the company president, Jared and discussed the issue of their requirements of being a "certificate holder" on our E&O insurance. Jared assured me that is being stricken from their contracts and he apologized for any misunderstanding this must have caused.