Posted by kkarate on 6/10/13 11:53am
Msg #472766

Title Producers license

Can some please tell me what are the benefits of having this license?

Reply by BossLadyMD on 6/10/13 1:11pm
Msg #472785

Well its required in Maryland & Indiana. Implied benefit :) n/m

Reply by NVLSlady/VA on 6/10/13 1:33pm
Msg #472793

Re: Well its required in Maryland & Indiana. Implied benefit :)

And probably in VA soon. Hopefully one of our newest licensed producer's will comment. We've been discussing some in our Va forum - and the general feeling is that . . . (I know, I'm "bad"

Funny thing is, today I got a very "interesting" email from a TC I marketed to. It said in these exact terms that they "don't normally work with notaries who don't collect funds OR know the basics of loan documents." I was able to collect myself and write a nice, professional reply about my background and much higher than average certification exam score (not through NNA), as well as my acting routinely as more than a notary witness closer (and according to what I'm hearing from ALTA, That may be the problem with our not having the license).

p.s. How in the world does one do this job WITHOUT knowing the "basics of loan documents"????

Reply by 101livescan on 6/10/13 1:45pm
Msg #472794

Re: Well its required in Maryland & Indiana. Implied benefit :)

There are hoards of them out there who are clueless...they are working for $50 to $100 and what's a good word, "winging it?"

Reply by Linda_H/FL on 6/10/13 4:08pm
Msg #472809

Re: Well its required in Maryland & Indiana. Implied benefit :)

Or they just flip the pages, point and sign.

Reply by Ilene C. Seidel on 6/11/13 5:17am
Msg #472858

Having a TPL means more responsibility. In Maryland we are required to complete full loan closings, to be able to explain the documents to the borrowers. It's an expensive procedure in Maryland not sure about other states. In my estimation it does say you went the extra mile to license yourself. Personally I feel all states should require a TPL. It gives us the legal right to complete full loan closings. And of course CE courses are required to renew the license.

Reply by jojo_MN on 6/11/13 8:50am
Msg #472872

Title Producers license = Closer Individual License in MN

Most notaries don't realize in Minnesota that if you explain loan documents, you are required to have this license. Real estate professionals also need it if they explain financing with their buyers/sellers. When I took my class, 90% of the attendees were real estate agents.

I agree, Ilene, it should be required that anyone overseeing loan signings should be required to be licensed.

Reply by Linda_H/FL on 6/11/13 1:07pm
Msg #472926

I agree too....I have said all along..I honestly don't

see how anyone with absolutely no experience with mortgages, closings and real estate can take an online course and jump into loan signings and do them effectively. No more than they can jump into title abstracting after an online course. There is so much more involved in the procedure.

JMO