Posted by Sue Barter on 8/31/13 7:19am
Msg #482763

Title source

Can someone fill me in on what's going on at TS ? They were on of my best clients, now I hardly hear from them. After reading the forums it appears that changes are going on. I have been away from the forum for awhile and not up to speed.

I also got the Mortgage Connect email this morning. After the last NNA conference we were declared the most important piece in the entire mortgage process. Good on us. However, as on member put it, we are also the only people that carry credit for them. Now we are asked to take a cut in our fees even though our expenses are the same!!!! Another member said good luck trying to get them back. If we say no, are we biting off our nose to spite our face. I'm conflicted and don't really know what to say.

Business for me is off at least 50%. I need input from my co-notaries. Thanks in advance.

Reply by rolomia on 8/31/13 8:39am
Msg #482766

As far as I know, they're still active. I can only surmise..

...that business volume may have decreased due to the downturn in the industry. My experience with them has been positive. But, all TC/SS have been plagued by said downturn in our industry as we have. Most TC/SS are probably having difficulty finding quality NSA's for the reduced fees they are able to offer. I used to get frequent calls from many different companies. But, not so much, anymore. And, we're as likely to get an honest explanation from most of them as we are to get higher fees. Good luck. JMHO

Reply by MW/VA on 8/31/13 9:11am
Msg #482770

"After the last NNA conference we were declared the most

important piece in the entire mortgage process". Who made that statement, NNA?
IMO that was some of their marketing hype, designed to get a lot of notaries on board. We've had a rash of newbies since the conference, too.
I saw their newsletter the other day, talking about finding a mentor. While I've mentored other notaries, most won't do that. Why would anyone be interested in training the competition? I've heard of others (including someone in my area) that mentors new notaries for a large fee.
NNA doesn't have control of the ups & downs in this biz. The timing was bad, because rising interest rates have caused a big drop-off in biz. Look at the layoffs at Wells Fargo, etc.
It's economics 101--supply & demand. We can thank NNA for pumping out new notaries, many willing to work for low fees, at a time when business is harder to come by. You need to draw your own conclusions, of course, but I still don't understand why anyone supports that organization.

Reply by sueharke on 8/31/13 10:19am
Msg #482781

Re: "After the last NNA conference we were declared the most

When I first studied to become a notary I took the NNA course 8 years, basic and certified signing. I am the type of person who needs to hear a live course more than one time (I asked if I could sound record the course and was told no). The NNA gave me a verbal statement, not in writing that when I took the course I could attend a review course offered in my area. The NNA said I could call for help if I had questions.

Here's what happened when I tried to use this verbal contract:

1. There were no review courses available in my area and none scheduled in the near future. Also, I was not allowed to sit in a test review course without paying for a second time.

2. I called with a question and was given the wrong answer. Luckily I found the answer online after the bad reply because I knew how to research online.

I learned quickly that the NNA was an organization that I wanted no further contact with because the organization did not keep its promises (written or oral).

Hence, anything the NNA says verbally or in their magazine should be discounted until the organization "put actions after the words or actions before their words." Either way I see no actions from any statement the organization makes. I believe it is called "puffing" in selling something (this is not illegal but the puffer tries to say "you misunderstood or I didn't say THAT" - caps are for emphasis only.

Reply by MW/VA on 8/31/13 11:19am
Msg #482793

In total agreement. They are not known for honesty or

integrity.

Reply by KimmyMD on 8/31/13 11:45am
Msg #482797

Re: In total agreement. They are not known for honesty or

I recently got an email from Title Source letting me know I need a background check with either NNA or Lexis Nexis to continue working together. I currently have two other background checks with NR and another company. I emailed back to ask why I now need another BGC and was told they are in a law suit and have been asked by 5 big lenders to meet this requirement. The cost is 99.00 dollars for 2 years. I feel frustrated but feel if I want the business I have no choice but to comply. They also told me they are really tiring to go after the purchase market especially with Quicken Loans. I have slowed down, but still have steady work, I think Maryland will hold somewhat steady in this "dip".

Reply by JanetK_CA on 8/31/13 9:12pm
Msg #482840

Great info re: NNA. You nailed it - and I completely agree! n/m