Posted by 101livescan on 3/25/13 11:38am
Msg #462893

High Alert Against Fraudsters RANT

Getting ready to head out for the day. I've been on the phone this morning with a half dozen signing services I have worked with for more than five years. They are all great companies, organized, fair paying, honest and they have great clients.

It has been confirmed to me: There is no requirement for them to be background checked, or to have E&O, to be bonded. Thankfully, none of these proprietors has a criminal record. They have been in the industry for many years. They know what it takes to be successful and to survive in this industry. You can't be flim flam.

A word of caution to newbies. DO NOT work for SS's with 1, 2 and 3 stars. DO NOT accept work from any one if they are not listed in SC with verifiable ratings, in order words, they don't show up there. They arrived in the night and set up temporary camp to take advantage of the unaware, new folks.

DO NOT provide a SSN to any one. Get a TIN from the IRS.

You're setting yourself up for ID fraud and forgery, and these crimes are not investigated as readily by local law enforcement as they should be. They are too "trivial". Yet they can have lasting negative effect on your ability to obtain credit, get a passport or visa, draw unemployment, medicare and disability benefits, etc. and it's a big pain in the butt.

Reply by CarolF/NC on 3/25/13 11:47am
Msg #462894

Cheryl, we know you want to spill it...why not post what

public information you have for all the world to see. This really is concerning that we provide these people with so much information and we are required to be background checked, yet the Lenders and TC's don't care about the background of the SS. Puzzling to say the least that they would not screen their SS's on behalf of BO, yet they demand we be screened.

Reply by 101livescan on 3/25/13 11:56am
Msg #462896

Re: Cheryl, we know you want to spill it...why not post what

Since most of you are bright enough bulbs not to work for 2-star companies, I'm not ready to expose the public information I have come across, yet. It's available to anyone who wants to see it. The company I'm alluding to posted on this board and aroused my suspicions about them and I quite by happenstance discovered it. You know, open mouth, insert foot. I think they will self-destruct in time, especially as this business winds down in the coming years. But also the industry is going to tighten it's gird on background checking, E&O and bonding/insurance requirements. Right now, a child could start a signing company with little or no capital, or brain or ???. Whadya think of that?

Reply by GOLDGIRL/CA on 3/25/13 12:10pm
Msg #462899

Re: Cheryl, we know you want to spill it...why not post what

So true, Carol! Any snake oil salesman can (and has) set up a "signing service," and any TC/EO will willynillysilly send them business (with, of course, no regard that we might ever get paid by them). This is why I (as well as others) have been adamant about not sending any of these SSs any identifiable info. There are many notaries who have no problem turning over copies of their DLs and SocSec numbers to whoever asks for it; so good luck. Now I wonder if all the info we have to provide for our background checks is also readily accessible by any scummy SS owner/employee.

If borrowers had any clue that every drop of their personal info was readily available to these snake-oil.... excuse, me, these SSs, some of whom are owned by people who up until this point at least would never be allowed to be notary commissioned in CA because of identity theft and other convictions, they would flip. But this is apparently of no concern to lenders, TCs, or in the case of employees, the SSs who hire them.

It's come to this: I would never use a mobile notary for any mortgage, refi I may take out in the future unless I knew they worked for a solid (IMO) SS. Call me paranoid (it wouldn't be the frist time), but as you pointed out this business is getting crazier (unsavory?) by the minute.

Reply by Marian_in_CA on 3/25/13 12:28pm
Msg #462901

Re: Cheryl, we know you want to spill it...why not post what

"It's come to this: I would never use a mobile notary for any mortgage, refi I may take out in the future unless I knew they worked for a solid (IMO) SS."

This is sad, but completely true for me as well. knowing how some of these companies handle documents...such as freely email unsecured PDF files from generic easily hacked email accounts... is such that I'd never agree to have a mobile notary come to my home with loan docs until I knew exactly who and where the docs were sent. In all likelihood, I'd prefer to travel to the title company in person and sign them there, specifically requesting they not be handled through a signing service. Either that, or tell the title company specifically which notary I wanted to use and that I'd only sign if they hired that notary directly or went through a specific service that I trust.

Reply by GOLDGIRL/CA on 3/25/13 8:27pm
Msg #462995

Re: Cheryl, we know you want to spill it...why not post what

It's truly an amazing day when veteran NSAs say they'll never use a mobile notary themselves... knowing what we know. But that's the it is.....

Reply by leeinla on 3/25/13 12:30pm
Msg #462904

Re: Some Notaries never cease to amaze me.

Things never cease to amaze me. This lady posted that she started a signing service on LinkedIn and she got dozens of favorable responses from notaries. Notaries did not even think about checking her background and vetting who she is. Unfortunately, there is going to be a lawsuit filed against a title company for breach of privacy and that will tighten the requirements for signing services. A lot of money talks, sad but true.

Reply by Stoli on 3/25/13 12:55pm
Msg #462910

Re: Some Notaries never cease to amaze me.

"Unfortunately, there is going to be a lawsuit filed against a title company for breach of privacy and that will tighten the requirements for signing services. A lot of money talks, sad but true. "

Will you, please, explain this statement? Do you know it to be true, or are you wishing it is true.

Reply by Marian_in_CA on 3/25/13 1:08pm
Msg #462913

Re: Some Notaries never cease to amaze me.

All it would take is one consumer to bring suit against a company for failing to follow their privacy guidelines.

If I were a borrower and found out that my documents were farmed out to a company that wasn't vetted, or worse run by convicted criminals, and yet they have tons of requirements for the end notary receiving said documents... I'd be highly upset and talking to an attorney.

If a title company or lender requires notaries to complete a background check to run an assignment, then why wouldn't their signing services and their employees as well?

Reply by GOLDGIRL/CA on 3/25/13 1:09pm
Msg #462914

What's wrong with that?

<<Unfortunately, there is going to be a lawsuit filed against a title company for breach of privacy and that will tighten the requirements for signing services. A lot of money talks, sad but true.>>

Actually, there have been many lawsuits filed against TCs for exactly this --- also, many have been fined by the Department of Insurance for this ... but these TCs have so much money to just pay off whoever, it doesn't even make a ripple in the grand scheme of things.

Reply by Stoli on 3/25/13 2:00pm
Msg #462941

Leeinla - Will you explain this comment?

"Unfortunately, there is going to be a lawsuit filed against a title company for breach of privacy and that will tighten the requirements for signing services."

Do you know this to be true?

Reply by GOLDGIRL/CA on 3/25/13 1:07pm
Msg #462912

Also, Carol,

... regarding your suggestion that Cheryl post what public information she has .... fact is, as I see it, that could backfire. First of all, this industry is riddled with people with criminal backgrounds, notably loan brokers, *and* some notaries and EOs. It's also riddled with scumbags who just haven't been caught, notably SS owners. To "expose" them all would be neverending.

Second, many people feel that convicted criminals who "have done their time" or paid restitution should be allowed to "get on with their lives." Heck, even the CA SOS is now prepared to commission "rehabilitated" convicted felons. (Wonder how Mr. and Mrs. Borrower would like knowing an ex-con is sitting at their kitchen table ... with every drop of personal information about them .... but that's another story).

It's touchy territory.

Reply by Marian_in_CA on 3/25/13 1:13pm
Msg #462915

Re: Also, Carol,

This is why I think our CA background checks are now worthless as far as using them with title and escrow companies. Now that, theoretically, convicted felons can obtain a CA commission (though it's not easy) any responsible company who requires their vendors to *NOT* be convicted felons would need to run an additional background check to make sure they weed out those notaries aren't qualified. In other words, having a commission alone, is no longer absolutely proof that we aren't ex-cons...nor does it make us qualified to handle loan documents.

Reply by Tudi/CA on 3/25/13 12:53pm
Msg #462908

I have a TIN, but read that the IRS prefers sole proprietor's use their SS number instead. What's up with that?

Reply by John Tennant on 3/25/13 1:37pm
Msg #462924

Tudi - TIN vs SSN n/m

Reply by John Tennant on 3/25/13 1:38pm
Msg #462925

Re: Tudi - TIN vs SSN

OOPS too fast.

As an E.A. I cannot find any documentation that supports your statement. Could you please provide the IRS reference for my education.

Reply by Marian_in_CA on 3/25/13 1:56pm
Msg #462938

Re: Tudi - TIN vs SSN

John, I don't know that it matters much... but my paltry refund this year was delayed because I use a EIN for my schedule Cs. When I called they said that once in a while, when a sole-prop uses a EIN without also having employees, pension or excise tax returns that normally call for it.

When I spoke with them, they told me it was no big deal at all, but it sometimes just kicks a manual review that delays things. I don't think they really have a preference... I think it's fairly common (and smart) to for sole-props to use EINs. I didn't need to do anything. The refund was eventually approved.

Reply by Tudi/CA on 3/25/13 11:37pm
Msg #463024

Re: Tudi - TIN vs SSN

It's on page 3, Part I, of the W-9 form. It states that as a sole proprietor, you can use either your EIN or SS number, but the IRS "prefers you use your SS number".