Posted by CarolF/NC on 11/29/13 5:07pm
Msg #494426
JUST FYI from
- Thank you for contacting the CFPB Ombudsman’s Office and we appreciate your patience as we are a very small office. The CFPB Ombudsman’s Office provides an independent, impartial, and confidential resource to informally assist consumers, banks, and nonbanks in resolving issues with the CFPB.
In terms of the CFPB’s role, the agency website www.consumerfinance.gov shares that the CFPB’s role is to “make markets for consumer financial products and services work for Americans.” The agency does this through different avenues including a consumer complaints function, financial literacy, supervision of financial entities and enforcement of the consumer protection laws and regulations.
It seems you have highlighted a particular concern in the marketplace. You may want to also share that with the CFPB’s Whistleblower Office, which is staffed by Enforcement Attorneys. They can be reached at: [e-mail address] or (855) 695-7974.
We hope this information is helpful and thank you for contacting the CFPB Ombudsman’s Office,
CFPB Ombudsman’s Office
Tel: 855 830 7880 (Toll-free)
Fax: 202 435 7888
consumerfinance.gov
Sent: Wednesday, November 06, 2013 11:06 AM
To: CFPB_Ombudsman
Subject: Help Please
Hello,
I am looking for some assistance.
I am a notary signing agent that handles real estate loan signings. There is this SPW workgroup who has been assisted by the National Notary Association in setting up these guidelines and a code of conduct for notaries who sign loans. They say they were asked to do this by the Mortgage Bankers Association in order to comply with the standards as set out in the CFPB. I have included the link here
http://nationalnotary.org/media/standards.html
There is a very lengthy code of conduct for the independent contractors, which has little to do with protecting consumer information or the standards I am reading in the CFPB. I was hoping someone could enlighten me.
I could give you so many examples of illegal activities the lenders and title companies ask the notaries to commit, so it is comical to us that they are coming up with standards for us when they appear to abide by none.
There are also these middle men, calling Signing Services, they schedule the real estate signing appointments for the lenders and title companies. Currently there is no regulation of them. They are not background check. Many have criminal histories, the handle emails and loan documents containing endless confidential consumer information and they email these documents to us without any security.
Some of these people who run these signing services have been arrested and charged in individual states, but they just reopen shop under a relatives name or in another state.
Is there any regulation for these companies?
My state Commissioner of Banks did not even know these companies existed.
Can you tell me what the role of the CFPB is and who should be making certain that mortgage partners, the lenders, title companies and these signing services are held responsible for protecting consumer information?
Thank You,
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