Posted by NVLSlady/VA on 12/9/13 3:44pm
Msg #495614

Huh?? Quality or Quantity of Calls

Got this email from TS (and honestly have no idea what it is saying) . . .
I am going to make a sub vendor profile of your information in your company account. This will help the lenders and borrowers know your exact name and your company name when you are doing closings. The orders will go directly to the sub vendor and the payment will be sent to the company name. In addition, this will not affect the amount of work.

This change was implement because we have company account in our panel that have multi signing agent under there company that we don’t know about. So we create a sub vendor profile of the person under there company profile so we will know exactly is going to closings. In addition, this will improve the quantity of your calls coming through.
**********************End

BTW, I established beforehand that I don't use sub-vendors (I really think these messages need a QC before being sent out; a standard form letter would do)

Reply by NVLSlady/VA on 12/9/13 3:52pm
Msg #495615

Maybe there is an assumption that dba a Company means you don't have an individual "vendor profile"??

Cornfused

Reply by Luckydog on 12/9/13 4:40pm
Msg #495622

Huh is right! Wow, to me, a sub vendor is a SS or title company hiring a Signing agent, and then that Signing agent hiring you. They pay the 1st agent their pay, and they give you your cut out of their check to do that closing... I would not be the middle-middle man in any instance. Yikes! This business is getting so shady feeling lately. Very confusing explanation of what they said...unless their agents have been sub vendoring for a long time, and trying to put an end to it. To me, if my name is not on a confirmation directly from a SS, I do not do it.

Reply by NVLSlady/VA on 12/9/13 5:48pm
Msg #495629

I bet that's it: sub vendoring has been a practice.

And what you said, <"If my name is not on a confirmation directly from a SS, I do not do it.">

Hello! Exactly why I'm going What!

Reply by Brenda/FL on 12/9/13 6:14pm
Msg #495633

I received the same email and a phone call from TS. The way she explained it is if you have a profile with your Company name they are making a sub-vendor account with your name so the Lender and Borrower knows the name of the Signing Agent. I have a new vendor number, username and password for my "sub-vendor" account.

Reply by NVLSlady/VA on 12/9/13 8:24pm
Msg #495647

Got my new vendor no. (just HAS to be an easier way)

Reply by Karla/OR on 12/9/13 4:44pm
Msg #495625

I get asked frequently by big and small SS's, "If I am the one doing the closing." I always assume it is because I have a business name in my profile vs. just my sole name.

Reply by NVLSlady/VA on 12/9/13 5:49pm
Msg #495630

good to know, Karla. I'm not sure I've ever been asked this (just when I take the call, "Are you Michelle?")

Reply by LKT/CA on 12/9/13 7:06pm
Msg #495642

Sounds like NSAs are farming out signings

It appears that this company is now creating a profile that has both the notary's sole proprietor name (JMD Mobile Notary) and yourtheir personal name (Jane Marie Doe) because they hire Jane M. Doe to handle the loan signing, yet the docs are returned notarized with Ethel L. Mertz.

Jane farms the signing out to Ethel, not informing Ethel that she is an individual notary and not a SS. Jane gets paid for the signing and doesn't pay Ethel. Now Ethel is contacting the TC for payment, uniformed that Jane is NOT a company but a NSA farming out her signing offers.

Reply by BevTX on 12/9/13 7:20pm
Msg #495644

Who is TS? n/m

Reply by Linda_H/FL on 12/9/13 7:32pm
Msg #495646

TS = Title Source n/m