FNF (Fidelity Nat'l Title) New BGC Requirement... | Notary Discussion History | |  | FNF (Fidelity Nat'l Title) New BGC Requirement... Go Back to October, 2013 Index | | |
Posted by dgd/CA on 10/10/13 4:03pm Msg #487666
FNF (Fidelity Nat'l Title) New BGC Requirement...
Dear FNF Approved Notary,
Effective November 1, 2013, all notaries conducting signings for our “Preferred Lenders” will be required to have a background check on file with FNF (Fidelity National Financial and any of its subsidiaries) in accordance with our service agreements executed with each of these lenders. (Note that this list of lenders will be expanded upon in the future as more lenders require service agreements.) If you do not have a background check on file, you can still perform signings for our family of Companies but NOT for any transactions to which any of these lenders are our insured party. This requirement pertains to all transactions to which these lenders are involved in regardless of the transaction type (resale, refinance, commercial, etc.).
Our “Preferred Lenders” are:
1) Bank of America
2) BMO Harris
3) JP Morgan Chase
4) Union Bank
5) US Bank
6) Wells Fargo
FNF will ONLY accept two vendor’s background checks, either the NNA (National Notary Association) or Sterling Info Systems. We are in the process of setting up a portal with Sterling, and we will advise you in the near future of the steps necessary to receive a background check from them. Do not attempt to seek a background check from Sterling directly until you are advised to do so. If you have had a background check previously done by the NNA, please forward a copy or screen shot of your certificate to [e-mail address] . We will verify your background check with the NNA and note you as an approved notary for these “preferred lenders”.
Any notary company that has been approved by FNF must provide proof that each notary or independent contractor they utilize for our “Preferred Lenders” has been background checked by either submitting the NNA certificate or having them background checked through Sterling Info Systems. We will continue to use the approved notary companies, but only those notaries that have provided proof of a background check will be used for signings for these “Preferred Lenders”. Each notary will be listed under your company as approved to perform signings for our “Preferred Lenders”. For example, ABC Signing Company is a company on our approved notary list. If ABC has an individual, John Doe, get a clear background check, “ABC Signing Company – John Doe” would show in our approved notary database as eligible to do signings for our “preferred lenders”.
If you have any questions, please contact Jennifer Walker at 925-225-7903.
Sincerely,
Jennifer Walker
Fidelity National Title Group
Field Compliance/Post Closing Dept
Sigh... well, as I see it, I have about two weeks to decide what I want to do with this new requirement. Still nothing with SS having to have a BGC, just the Notaries Public that contract with them.
| Reply by Esther Korn on 10/10/13 5:17pm Msg #487676
I got a background check from Lexis Nexis a couple of months. It's a very comprehensive one. I just don't understand why lenders are requiring BC only from NNA. Can someone explain?
| Reply by dgd/CA on 10/10/13 6:53pm Msg #487695
Esther...
At the end of the day, it's ALL about marketing. The NNA has always been "tight" with FNF, and of course, it's family of Escrow Companies. Big Marketing Bucks I haven't decided as yet, as to whether I am going to do this*. However; I will tell you that if I do, any BGC I secure will definately not be through NNA. I will be closely following FNFs association with Sterling Info Systems (whomever they may be). BTW... anyone out there that's ever heard of it?
* Just a note, this appears to be predicated upon SS. As I don't work with them, I must go through my client listings and determine dollar volume, not only for the last few years, but of course, my "anticipated" projections over the course of the next 12 months. This simply caught me by surprise (although as I think about now, it shouldn't have).
| Reply by Esther Korn on 10/10/13 7:33pm Msg #487698
Re: Esther...
I hear ya, I would also try to avoid getting anything through the NNA. I'm just frustrated bc I just spent money getting a complete BGC, maybe two months ago, and now I have get another one, which will be exactly the same as the one I just got from Lexis Nexis. Like you, I was avoiding getting it from NNA. I imagine Sterling Info Systems will charge the same as the NNA. Bottom line is that we will end up having to get it through NNA as it seems to be more widely accepted. Urghhh
| Reply by ProGal on 10/10/13 7:56pm Msg #487701
Re: Esther...
I too am aggravated over this requirement. I just got the TS email tonight and they want the NNA report by 10/26/13 (not just the certificate-which is what I had planned on sending). I guess I will just have to black out all personal info). I haven't even had business from them for two months. It seems like a waste of money. My current BCG is only 9 months old. I wonder how much purchase biz they will really get....
| Reply by Laurie Manzanares on 10/10/13 8:23pm Msg #487702
Sterling $49.81
A while back TS requested a background check through Sterling. It cost me $49.81. Not sure what the cost maybe now. You will have to blank out the last four digits of your Social Security # because it is all over the Sterling report. Most people I deal with only need the last for digits of SS# to confirm who you are so I am not very comfortable handing out my last for digits to any one that I don't know. Other than that it was very simple and fast turn around when ordering.
| Reply by Christine/OK on 10/11/13 5:04am Msg #487730
when it is requested, I line through my whole SSN, DL #, etc n/m
| Reply by 101livescan on 10/11/13 7:41am Msg #487739
Re: Esther...
The owners of Fidelity and the NNA live in Santa Barbara, same country club, high end restaurants, etc.
It's called synergy.
| Reply by Yoli/CA on 10/11/13 2:50pm Msg #487786
Synergy by definition in Dictionary.com:
syn·er·gy [sin-er-jee] noun, plural syn·er·gies. 1. the interaction of elements that when combined produce a total effect that is greater than the sum of the individual elements, contributions, etc.; synergism.
============= I wonder if we were to ask NNA/Fidelity CEO's ... perhaps they'd say they collaborate with each other. Notice the synonyms at the end ...... especially "collude" and "abet." Just a thought. 
col·lab·o·rate [kuh-lab-uh-reyt] verb (used without object), col·lab·o·rat·ed, col·lab·o·rat·ing. 1. to work, one with another; cooperate, as on a literary work: They collaborated on a novel. 2. to cooperate, usually willingly, with an enemy nation, especially with an enemy occupying one's country: He collaborated with the Nazis during World War II. Origin: 1870–75; < Late Latin collabōrātus (past participle of collabōrāre ), equivalent to col- col-1 + labor work + -ātus -ate1
Related forms col·lab·o·ra·tor, noun
Can be confused: collaborate, corroborate.
Synonyms 2. collude, join, assist, abet.
|
|