Posted by Christine/OK on 10/7/13 1:01pm
Msg #487239

Has anyone noticed new verbiage on the MIS confirmation

document?; e.g., "7. If this loan doesn't close you will be paid a trip." [sic]

Reply by JAM/CA on 10/7/13 1:11pm
Msg #487242

Yes and I believe this should be illegal. We are third party impartial witnesses and should have no financial or beneficial interest. To me, this puts us in a position to have a financial interest in the
outcome of the loan.

Of course, you can put your terms in as an Independent Contractor, but how much work would you
receive. I do a lot of signings for MIS.

Reply by Christine/OK on 10/7/13 1:13pm
Msg #487245

Yes, it certainly does alter our impartiality . . . n/m

Reply by Christine/OK on 10/7/13 1:14pm
Msg #487246

Reply from MIS

From: [e-mail address] [mailto[e-mail address]]
Sent: Monday, October 07, 2013 1:05 PM
Subject: RE: IMPORTANT: Invoice Status

yes this is new

Have a Great day !

Danielle Hollis Offutt
Mortgage Information Services

Reply by JAM/CA on 10/7/13 1:28pm
Msg #487250

LOL Christine n/m

Reply by Christine/OK on 10/7/13 1:36pm
Msg #487257

Yep! I particularly loved 'Have a Great Day' in the reply :( n/m

Reply by Tannis Zamora on 10/7/13 1:36pm
Msg #487258

Re: Reply from MIS

I will not be accepting any signings from this company or any other company with those terms.
We are Loan Signing Agents.
It is not our job to sell a loan, offer advice (UPL) or do anything but print, witness and return documents. Once we confirm with borrower, print the documents and leave for the APPT. spend time with the client, our pay is to be what was agreed upon. Not just a print fee, not 1/2 fee for travel. Full fee.
Two weeks ago I had a SS send me a confirmation that my Website log in closing the loan had been accepted. BUT I must accept the terms BEFORE the invoice would be paid. Terms were print fee and 1/2 travel fee if Loan did not close.
I called owner of the SS and she assured me that was not the case, I would be paid.
When I am sent a confirmation, I make sure the confirmation has the agreed upon fee and necessary information on the borrower. IN RETURN I REPLY to the confirmation with MY TERMS in writing and I end my statement with IF THESE TERMS ARE NOT ACCEPTABLE please cancel the enclosed confirmation.
For most of you this post is redundant but I hope it might help others who are not sure what their rights are or how to protect themselves.

Reply by Tannis Zamora on 10/7/13 1:39pm
Msg #487260

Re:PS

I do NOT PRINT until I receive a reply with my terms being accepted.

Reply by Christine/OK on 10/7/13 2:41pm
Msg #487281

Mortgage Information Service signing scheduled for tomorrow

The verbiage is new to this confirmation. It may be worth your while to double check the 'fine print' on your current MIS [Mortgage Information Service] signings.

I am sorry to read this information from them.

Danielle replied additionally stating that the MIS turnaround payment time parameters have not changed.

I responded by stating that the point in question is payment for services provided regardless of the loan funding status.

Does it appear that someone is chasing their own tail here? Hmmmmmmmm

Reply by Linda_H/FL on 10/7/13 3:42pm
Msg #487290

My reply to this would have been

"In that case, I will require a prepaid fee of $75 to cover travel and printing and to eliminate any question of my impartiality..

And you have a good day too!!"

Reply by HSH/WA on 10/7/13 5:01pm
Msg #487303

Re: MIS is a no call SS which is hard to take.

If on top of not being able to call the BO, you don't get paid if it doesn't close - NO WAY. They mess up and the BO sometimes does not even know who or what you are much less anything about an appt to sign docs.

Reply by Linda_H/FL on 10/7/13 5:25pm
Msg #487309

I think you're thinking of MIC - not MIS. n/m

Reply by Christine/OK on 10/7/13 5:35pm
Msg #487315

Hey Scott! Thanks! :D MIS has no restrictions on the

confirmation docs that I receive regarding contacting the borrower. Have a great evening.

Reply by Christine/OK on 10/7/13 5:33pm
Msg #487314

Still waiting to hear from management OR to receive the

revised confirmation without the "If this loan doesn't close . . ." statement.

Wondering if I am the first one for this 'trial balloon' . . .

Reply by HSH/WA on 10/7/13 5:46pm
Msg #487318

Re: Oops. Sorry. Got MIS/MIC mixed up. n/m