Posted by Jose Ramon Maestre on 12/28/13 2:01am
Msg #497156

Interesting change on SPW site

In checking on the SPW site for updates I noticed a recent change to how the SPW defines itself.
Back in October when the announcement of the SPW was made it described itself in the following manner,

The Signing Professionals Workgroup (SPW), a committee of lenders and title companies, has created industry best-practice standards for notaries handling loan signings - the Certified Signing Specialist Standards.

The National Notary Association (NNA), tapped by the SPW as an advisor and non-voting member, says SPW will implement the new standards over the coming months and anticipates the rollout will be completed by mid-2014.

According to the NNA, these standards were established to ensure borrowers have an improved customer experience and to comply with federal regulations regarding service providers.

If you have not check the SPW site recently there has been this change it now defines itself as

The Signing Professionals Workgroup (SPW) creates, maintains and promotes professional standards for Notaries Public who provide signing services in connection with the closing of a mortgage finance or real property transaction.

The SPW is an industry workgroup of the National Notary Association. SPW members include mortgage lenders, title companies, signing services, trade associations, and educators of, and background screening providers and companies offering supportive services to, signing professionals. Membership is open to companies meeting the qualifications for membership.

In the new change it now appears the SPW is not just a non voting member, but a workgroup directly affiliated with the NNA.

This seems to confirm much of the suspicion around the formation of the SPW.
What are your thoughts?

Reply by Claudine Osborne on 12/28/13 8:34am
Msg #497159

Interesting indeed! Finally the truth has been admitted..They are formed by the NNA! I wish they would say that the SPW workgroup was founded and is administered by 2 Executives of the NNA and one TC Executive!

Reply by JJNotary/CA on 12/28/13 3:16pm
Msg #497182

You know, in concept, I don't mind what they are doing - except they seem to have forgotten to involve Signing Agents in the processes, and in the relationships. A pretty major oversight that has lead to a lot of this backlash.

If this was a group of professionals from all sides coming together to create a plan that would help borrowers have a quality signing experience, help Signing Agents navigate different standards with different companies, and help companies comply with new Federal guidelines on 3rd party vendors... but it's not.

The whole process does need some sort of overhaul, but you can not possibly do so successfully unless you involve voices from all sides.


I'll be curious to see what SOS's say about some of this.

Reply by John/CT on 12/28/13 8:59am
Msg #497161

Yup, just as we all suspected: NNA/SPW joined at the hips n/m

Reply by MW/VA on 12/28/13 9:28am
Msg #497162

I'm not at all surprised by this disclosure. In some

circles this would be considered as conflict of interest, because the NNA stands to be the one
to profit by it. ;-(

Reply by CarolF/NC on 12/28/13 10:04am
Msg #497167

Time to Get a Petition Against the NNA Rolling

Do not buy their membership, their products or give them anymore money. Someone needs to stop the madness of that organization

Reply by MW/VA on 12/28/13 10:06am
Msg #497168

Some of us made that decision years ago. n/m

Reply by Notarysigner on 12/28/13 10:53am
Msg #497174

Re: Thanks for following up Jose and hopefully your

future post will stopped being held up.

I remember in early Nov saying, just hold on and wait and see. While many others panicked many more stayed the course.

I have not had a signing in three months now and not because I refused to run out and get a BGC but because I refuse to take a $80 signing. I really believe this SPW "stuff" is/was a BIG smokescreen. Nobody addressed it but yet again, fee offerings were drastically reduced!

Reply by Jose Ramon Maestre on 12/28/13 11:43am
Msg #497177

Re: more interesting developments coming

now i know how Edward Snowden must feel like.
Will update on some more interesting information.
want to make sure the information is valid and not just rumors.
as it appears this has always been about that 5 letter dirt word, MONEY!
and very little to do with standards.

Reply by Julie/MI on 12/28/13 12:34pm
Msg #497179

I'll be honest, I have not read much into SWP.

I DID, however, watch a youtube video posted on this site a while ago with the xyz spokesman speaking that the swp approached them....not suprised at the turn of events.

The video was hilarious in that the xyz rep said that there was no problem with closing at home and the claim rates of notary e & o was very very very small.

I think it was videotaped in maryland....

Reply by 101livescan on 12/28/13 12:45pm
Msg #497180

Indiana maybe?

http://www.youtube.com/watch?v=xO826slgwdE&feature=c4-overview&list=UUOI0KM2NGffRZ6yLjPNS5kg

Reply by Julie/MI on 12/28/13 3:30pm
Msg #497183

Re: Indiana maybe? Nope MD, here it is

https://www.youtube.com/watch?v=M4XQwC1Krro

He admits there is NO problem!

Reply by HrdwrkrVA on 12/28/13 7:02pm
Msg #497189

All this talk about improving SA performance...in 11 yrs as

an SA, the complaints have ALWAYS been about the TC's & LO's!!!

Most complaints are about :
TC fees (SAs see very little of this)
Lack of COMMUNICATION!
- failure to provide HUD 24 hrs prior to closing (or at all - one of my pet peeves!)
- failure to update them on HUD changes
- failure to inform them of closing date
- failure to update them on late docs (& SA's - another of my pet peeves!)
- failure to return their (usually numerous) calls!
Time & time again, the signers are usually pleasantly suprised at how well everything flows AT the table. The Most repeated phrase: "Well THAT was painless!"

Unless there was a HUGE screw-up by the TC or LO, I usually leave 'em smilin'!

Why are they pointing fingers at us?!?!?!

Reply by 101livescan on 12/28/13 7:30pm
Msg #497192

Oh boy...been there done that!

I had two situations blow up this week, not due to my participation. Rate too high after a year of haggling, then a borrowers' docs had impounds, unwanted, specifically requested there be no impounds.

The beat goes on...

Reply by JanetK_CA on 12/28/13 9:30pm
Msg #497200

Re: Oh boy...been there done that!

Yep! To say nothing of all the time we catch their errors, sometimes allowing the loan to close on time - and avoiding a redraw.

Unfortunately, not all signing agents are as experienced as we are. In addition to the very good list above by Hrdwrkr/VA, I've also heard people complain from time to time about another notary who was NOT professional. Lately, the complaints have been about point-and-sign notaries who rushed them through.

Sadly, I don't believe that either the SPW certification or the script will do anything at all to alleviate these problems, since they've set the bar so low.

Reply by HrdwrkrVA on 12/28/13 10:15pm
Msg #497204

...And, the lower the fee, the more signings SA's will have

to take - and at that point, they'll ALL be point & signs. If you factor in a minimum of 6 hrs to sleep, shave & shower (you can only eat in your car!), the other 18 will be spent driving, printing, waiting for docs - practically nothing is left over for the signing!

Most signings involve:
1/2 hr to print: chaning toner; loading paper; misprints
1/4 hr to verify print ok: esp. large pkgs
1 hr driving round trip
1 hr signing w/o traffic accidents or tieupd
= 2.75 hrs rounded up to 3hrs

That DOESN'T include LATE docs!

So @ $75 per signing (using a lowball fee):

18 hrs/ 3 hrs sper signing means you'd have to do 6 signings per day to make $450/day or 30 per week to make $2250! In this market it ain't gonna happen - notice there's no room for error of any kind - no traffic issues; no late docs; no cxld signings - NUTTIN'!

The lowballers want you to think they'll make it up to you in VOLUME?!?! WHAT VOLUME - the volume in my fairytale example?????
This example is totally unreal - you would just really end up working yourself out of business.

I just chose the $75 example b/c it is on the higher end of lowballing & it'S a complete fairytale... the $65 & under are just the ravings of people who must think WE'RE lunatics!

Last time I had 8 or 10 a week, regularly??? June thru early July!

Reply by C. Rivera Chicago Notary Services on 12/30/13 6:22am
Msg #497255

Re: Interesting change on SPW site...no...not really

and not suprising...someone on LinkedIn mentioned the same.

The SPeW group did indicate that it will continue to change and evolve, just wondering when they'll start growing the fuzzy green troll hair.....