Posted by Patricia Koch on 9/29/12 9:39am
Msg #436447

New Chase Form

I cannot believe this unnecessary form. It is time consuming, especially if the docs are late and we are running out of time. We will have to make the customer wait, while we complete the form to make
sure we have it correct - and that will not go over well. I don't believe they thought this through, which is not surprising. We ALL need to write to LSI expressing our concerns.

Reply by Shoshana/AZ on 9/29/12 9:45am
Msg #436448

It is your attitude that the signers will pick up on. If you have a good attitude about it, they will not be upset. They don't remember from one loan signing to the next what kind of documents were included.

Reply by CopperheadVA on 9/29/12 10:04am
Msg #436450

Form does not need to be completed in front of borrowers

I totally agree the form seems unnecessary and pointless. The best option is to pre-fill one with all your notary info and notarized Chase docs that are always in the package. Then make copies and add borrower info on a per-job basis. Just another PITA to deal with and I am not thrilled about it.

Reply by Linda_H/FL on 9/29/12 10:09am
Msg #436453

You know, in just about every other service industry

every extra time-consuming thing asked for incurs a fee - people don't work for nothing.

Tell the electrician while he's wiring an appliance for you that "oh, by the way, while you're here...I'd like you to do THIS" - he'll do it with a smile on his face and another charge on your service order.

The 5-10 minutes required to complete this for EACH Chase loan you do is 5-10 minutes taken from your other files/clients.

Just something to think about.

Reply by LndWelch/CA on 9/29/12 11:35am
Msg #436462

Re: You know, in just about every other service industry

I just received the email yesterday - this was my response to LSI regarding the new Chase form...

Effective October 1st, for all signings that I conduct for Chase, there will be an additional 10 dollars added to my normal fee. This is to cover the extra time and aggravation it will take to fill in the documentation they are requiring.
Thank you for considering my services,
Linda Welch

This is a business - my fees are based on my time and materials used - when they want to add to that, then they must pay an additional fee.

JMO

Reply by Patricia Koch on 9/29/12 10:49am
Msg #436459

Re: Form does not need to be completed in front of borrowers

I realize this does not have to be completed in front of borrower and will not do that, just an
opinion. And as far as attitude, I have no bad attitude in front of the borrower, just another opinion, I never have a bad attitude

Reply by ikando on 9/29/12 2:42pm
Msg #436478

Re: My take on the New Chase Form

Is there perhaps a correlation between the added instructions, hand holding and this double-cross-checking form, and the fact that the fees paid to professional business NSAs has routinely fallen in the last few years? As I watch this board, daily I see new people who have found this fantastic opportunity to make money for little investment (so they think), and who then ask all the usual newbie questions, who apparently are hired by middleman brokers who are trying to make money by being the caller to find the least expensive provider of the services (that the borrower is ultimately paying for), but who don't know what they're doing, resulting in the need to add instructions, hand hold and create cross-checking forms.

It seems to me that if the originator of the paperwork (lender or whomever) were to accept that they are going to have to pay for quality to get quality, then the whole thing would settle to people who are experienced or who are at least willing to put in the effort to learn the rules and how to offer good customer service to both the hiring party and the signer of the documents. I've worked hard to learn all I can over the years, and I've watched this NSA business mutate with the changes by the government, banking and finance businesses. It really bothers me that each time a change occurs, hiring parties decide they need to make the rules fit their own business rather than consider the people they are asking to follow their rules.

There's a big picture out there, and that is that we are here to help the consumer be able to accomplish his goals, in most cases for our business, by being able to smoothly conclude a real property financial transaction. When there are many mountains to climb because the individual lender/title/escrow/SS decides they need to have everybody follow the rules they've implemented because there were instances where someONE didn't get the job done right, then it frustrates those of us who are trying to help the consumer and continue to try to follow the myriad of individual mandates.

For me this is a profession. I treat it as a professional business. I expect to work with professionals who provide me work. I treat them as professionals. When I feel I am treated as if I were in kindergarten, I don't feel very professional. This form, to me, is the result of some person(s) who did not get the job done professionally, and so the person in charge has decided the only way to handle it is to have EVERYONE complete a form checklist. With the comments made here, I would anticipate the prefilling of the forms and perhaps some who will not visually check the list to make sure the documents are actually included. It's human nature, especially when there is no positive incentive (i.e., extra pay). I would also hazard to guess that the checklists sent to escrow before the account is funded are oftentimes ignored. Again, it's human nature, so it's not limited to NSAs or title clerks.

This is my simple rant on what I've been watching over the past few months--more hoops and less rewards.

Reply by PegiT_MN on 9/29/12 3:01pm
Msg #436486

Re: My take on the New Chase Form

Everyone is so quick to blame the low paid newbie notary for everything. Here's another scenario for you to ponder. My take on the new Chase form and especially the fact that it is coming from LSI only (I have not received this form from any of my other title companies that I close Chase loans for) is that someone......somewhere has broken the law and everyone needs to cover their rear ends. Perhaps someone got through the background checking system, perhaps someone notarized documents they were not supposed to. LSI may have gotten audited from Chase, and now there is a form to fill out regarding notarizations. I don't think it is because of mistakes or low paid new notaries......I think it is because there was fraud committed somewhere down the line and someone got caught for it and we are all paying the price for it.

I have been in the mortgage business for almost 15 years and everytime there is a new disclosure or more paperwork to fill out, it is usually because someone.....somewhere has broken the law. Take for instance the "Mortgage Fraud Is Investigagted By The FBI" disclosure, that form didn't always used to be in the package......why do you think that is in there.......not because of some low paid newbie notary.....but rather someone....somewhere found a way to break the law. Same thing here.

And yes....we should be compensated for the extra work involved.

Reply by ikando on 9/29/12 3:16pm
Msg #436488

Re: My take on the New Chase Form

You're right, Peggy. Not every notary signing problem is due to a newbie/inexperienced person. There ARE instances of fraud that have caused the creation of many mandated forms. And how many of those have helped stop future fraud? People are creative; they'll figure a new angle.

Expecting people who are honest and hardworking to follow even more rules is not the answer, especially when it impacts the time they have to try to earn a living. Human nature says there are some who will take shortcuts to come out ahead. Pay me for the extra steps you expect me to take, and I'll help you try to plug the holes.

Reply by SheilaSJCA on 9/29/12 4:51pm
Msg #436498

Re: My take on the New Chase Form

You said it-PegiT:
"perhaps someone notarized documents they were not supposed to".

The only notary that would do that is someone with little or no experience.

Think what you want, but this new form has nothing to do with borrower fraud, or lawsuits, it has EVERYTHING to do with signing agents, not taking the time or having the skills do to do the job correctly.

Reply by CentralNY on 9/30/12 9:35am
Msg #436566

Amen Sheila, very simple, it's not rocket science to figure

it out with all these companies vying for the same business.

Reply by bfnotary on 10/1/12 9:12am
Msg #436600

Re: My take on the New Chase Form

I had a purchase signing the other day. It was just the buyers on my end. Someone had already notarized the sellers signatures. (the sellers attorney was there) He handed me those documents to send back with package. O my, when I was double checking the documents. There were so many errors from that notary.. I mean on of the errors was on a notary cert. She did not fill in her name, (left it blank), and also she did not fill in the sellers names, she actually just left that all blank. It was pathetic. I was at a loss of words. Those are just some of the errors. Some of the docs did not have dates, where they were needed. And more... So sometimes it is the notaries.

Reply by NVLSlady/VA on 9/29/12 7:41pm
Msg #436515

someone notarized documents they were not supposed to

and in fact, there are many TCs that require notaries to sign where they are not supposed to (there are still MANY people here that think it's within the powers of a notary to certify the contents of the Note/o.k. to notarize the Note from the posts I read here).

So I think the protection is for them AND us - new or not. When I return my loan docs I include a brief audit summary of my acks so I don't have to explain why "the note isn't signed," or "no initials on the DOT." You want them initialed, you need to specify (unless there are lines for that). Too TIRED of going above and beyond, for the SC to say, "oh, you were supposed to read the TC's mind and do such and such . . .")

It seems like everything now has to be "spelled out" because of the inconsistencies and lack of standardization in the industry. We can never assume anything.

Reply by JanetK_CA on 9/30/12 1:51pm
Msg #436580

Or someone didn't notarize documents they WERE supposed to. n/m