Posted by CharlesFL on 10/17/13 12:30pm
Msg #488451
Rejoining the fray, with a couple of questions
I am in Central Florida and have been out of the loop while teaching for several years (Community College). In the next month, I will be making myself available again for a bit of mortgage signing work. I understand the tightness of the market, and am not looking to do a huge amount of business. My questions to the board are these:
1. What are your suggestions as to whether I should get a background check, and from whom should I buy it? Last time I had it done, it was with NNA. I am not a member, and am aware of some of the negative feelings toward them.
2. What is the suggested amount of E&O Insurance that I should carry?
Thanks in advance from Charles Hasbrouck in Lakeland, FL.
| Reply by Claudine Osborne on 10/17/13 12:51pm
Msg #488458
OMG..lol
| Reply by NVLSlady/VA on 10/17/13 4:51pm
Msg #488494
OMG. . . LOL
Talk about the party starting at midnight and arriving at dawn! 
| Reply by JPH13/MO on 10/17/13 1:37pm
Msg #488466
1. What are your suggestions as to whether I should get a background check, and from whom should I buy it? Last time I had it done, it was with NNA. I am not a member, and am aware of some of the negative feelings toward them.
If you ever had one done then you should still have your old NNA membership information and can login using it. You don't have to be a current member to renew the NNA cert and background-screening, which more and more companies are now requiring over other background checks. I do not in any way think this is a good idea that they are becoming a monopoly, but I redid mine because the companies I work for wanted a current one from NNA. All of the well paying companies I work for are now requiring this, so you may find it hard to sign up with companies without one and may as well get the one most want. Again, I don't like that NNA is becoming the one everyone wants, but since I want to keep working I do what the companies sending me work want me to do.
2. What is the suggested amount of E&O Insurance that I should carry?
It depends on the company, but the ones I work for all want to see at least $10,000 and many wanted $25,000, and it's cheap to get thru NotaryRotary.com if you are a paying member, so again I did what they wanted and got the $25,000. Some want way more than that, but I have successfully gotten them to accept the $25,000. It is only good for errors made on the few docs that get notarized within a signing package, so I don't see a need for higher coverage.
Good luck! Right now is a slow time and many notaries are running out of money and needing to get other jobs, so keep this in mind and don't expect much right now.
| Reply by CharlesFL on 10/17/13 1:52pm
Msg #488472
Thanks for your thoughts. Any other viewpoints. I also certainly agree that this is not suitable as a primary income. A few orders here and there would be completely fine with me.
| Reply by janCA on 10/17/13 2:30pm
Msg #488478
if you only want to work with SS's, I believe the $25,000 is adequate, as they usually carry $500,000+ which will also cover their IC's. If you want to work directly with the major title companies, they usually require you to have the $100,000 E&O.
| Reply by MonicaFL on 10/17/13 4:45pm
Msg #488492
Well, notary rotary does bGC's and they are just as good as anyone else's - IMHO.
| Reply by MW/VA on 10/17/13 9:15pm
Msg #488532
I'm with Monica. I have a bgc from here on NR & that's the
one I'm sticking with.
If you haven't been on the forum in a long time, trying using the orange search button to research topics before you post. Bgc's, E&O insurance, etc., have been discussed a lot.
Good luck. ;-)
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