Posted by jojo_MN on 11/4/13 11:30pm
Msg #491294

Title company, Signing Service and Lenders errors

These companies are coming up with the great idea to keep us under their thumbs by making us jump thru hoops to prove that we know how to do our business and that we are not criminals.

NOW, how about if we start compiling all of the errors that these companies are CONSTANTLY making that we notaries are catching before it goes to funding.

I've already mentioned in the past how we have no idea who is seeing our private information. The real crimes are happening before the documents even get to us.

How many times do you find:
1. Documents for a totally different borrower are sent to us in error by title company or signing service. I've had this happen more times than I care to count.
2. Vesting is wrong on the title.
3. Wrong address for property address? (Just happened to me again tonight)
4. Marital state, but spouse name is missing on legal docs.
5. Names spelled wrong, so documents have to be re-printed, re-signed, or names crossed off and corrected and initialed on sometimes 130+ pages.
6. Documents sent unsecured. Or sent to wrong email address so some complete stranger gets them.
7. Spouse on loan, but missing on all of the documents
8. Missing documents in loan package that are required

This list could go on, and on; however, my point is that over 95% of errors in closings are not the fault of the notary, it is due to Lender, TC or SS. We are being used as a scapegoat and the NNA is capitalizing in promoting to the above that most problems is due to notary error. They need to look at themselves and see how they can use better quality control on themselves and leave us alone.

This doesn't even cover late and/or no documents. Last minute cancellations so we notaries lose business because we turned down closings to take care of theirs, etc.

As far as the background check goes (I swore I wasn't going to touch that subject again today, but...), a background check shows absolutely nothing as to how a notary (or anyone else for that matter) takes care of borrowers' privacy. The main reason this all came about is that the lenders need to protect the borrowers privacy.

The only way that could be checked would be to have field agents go the the notaries' offices and check their computers to make sure it is password protected. They journals to be sure it is being kept in a secure, locked place when not being used and that the cabinet drawers and office doors are locked when not in use. A background check and all the classes available will not ensure that this is being done. JMHO

Reply by frances arnone on 11/5/13 7:11am
Msg #491311

YES!!! I am in total agreement I think of this everytime I get an email telling me I will be deducted $5 for each error. I just want to tell them when your docs are perfect then you can deduct $$. Here are a couple you didn't list.

- The borrower is separated not divorced but decribed as single
- The package has 20/30 pages of instructions not intended for notaries
- Wrong contact info, happens repeatedly
- ect, ect

Reply by ikando on 11/5/13 8:29am
Msg #491316

Who's checking compliance?

I encourage everyone to read the CFPB information regarding service providers. There is a comment that service providers (SPs) may be audited, including onsite security checks, I expect that to be at the bank/nonbank level, not the notary. In my opinion, the primary thing a notary could do is make sure to have procedures in place that protect sensitive information, just as any business should. Generally in business some form of sworn statement that the business is in compliance is accepted.

As Jojo said, all the hoops are overkill, IMO. Go check the law and rules and decide for yourself.

Reply by CarolF/NC on 11/5/13 9:20am
Msg #491330

Good Post, If only everyone would read the regulations for

themselves. You are very accurate.