Posted by Scriba/NM on 9/9/13 11:12pm
Msg #483872
My Response to Mortgage Connect
To Whom It May Concern:
It is unfortunate that your company has seen a slowdown in mortgage loans, as has the entire industry. In the corporations that I have worked for, when we have experienced serious slowdowns, we have had to reduce the number of employees, which is what Mortgage Connect should be doing, not attempting to get signings completed for next to nothing. I like the part about sharing your pain. Are your employees accepting a 25% reduction in pay? Is the CEO or President taking a large pay reduction? Savings in operations begins at home. The gas station doesn't give me a discount and neither does the grocery store, even when I tell them it's imperative to participate in cost reductions. They just don't listen.
It is patently obvious that the person within your company who made this ill-considered decision to ask notaries to accept less for the same services, knows nothing about how to run a company or set policy. These kinds of companies are usually doomed to file Chapter 7 or 11. As notaries, we see companies vanish all the time due to inept operation.
You are contracting out for a specific service, which is NOT changing for notaries. I assume (for this $75) that you will still expect notaries to go forth and complete signings in an error-free manner, and expect the same number of copies to be printed (with ever larger loan packages) at the notary's expense. The price of paper and toner has NOT gone down. You expect us to spend our money on gasoline (which has NOT gone down) driving to these signings, not to mention wear and tear on our vehicles. Or do you even care?
You expect the notary to have a background check and Errors and Omissions Policies. These items actually cost money (our money), yet you want the Notary (the person actually contacting the borrower, receiving e-docs (half of the time late), driving to the borrower's home, spending an hour with the borrower, taking your package to FedEx or UPS and returning to the office) to accept LESS money.
Why is that? Truthfully your logic is nonsensical. At the last NNA Convention, companies were extolling the virtues of the notary, saying we are the "crucial" part of the loan process. If we are so crucial, why do you want to only pay $75 - including e-docs - to complete a signing? My printer just burned out it's fuser - $250 to repair it. Who pays that? Or do you even care?
Each notary has to make his/her own decisions. In my estimation, MC's entire premise is child-like and the people making these kinds of edicts are woefully inexperienced in business, and of course as I have said, only time will tell. There will be some dumbos who, sadly enough, don't understand business either, and will blither along accepting........ probably just what they are worth.
| Reply by DebraOro/CA on 9/9/13 11:20pm
Msg #483874
Indeed.... n/m
| Reply by 101livescan on 9/9/13 11:34pm
Msg #483875
And my response to their request for docs, earlier this year
Judy, thank you for this opportunity. I do not know if you are aware that Mortgage Connect has a two star rating with Notary Rotary in Signing Central, a database of all vendors who have been rated across the United States in the mortgage industry.
These ratings reflect very poorly on your company for low pay and slow pay history to signing agents. For that reason, I'm requesting that you remove my name from your contact list. I do not wish to be contacted for future opportunities with Mortgage Connect.
Thank you for your assistance.
Cheryl Elliott
Mobile Notary Public & Live Scan Fingerprinting Services
Preferred Notary Public with First American, Old Republic, and all Fidelity Affiliates
PROUD MEMBER
http://www.californiamobilenotarynetwork.com/
From: Judy Block <[e-mail address]>
To:
Sent: Friday, March 8, 2013 6:26 PM
Subject: New 'Follow Up' Note for Vendor ID: 47643
Good Evening
As the Consumer Federal Protection Bureau (CFPB) issues regulatory mandates within our industry, Mortgage Connect has recognized the need to make changes in our vendor approval process in order to remain compliant and adhere to our client's policies regarding third party oversight.
Therefore, we have recently made revisions to our Signing Agent package. Mortgage Connect does recognize that your office has already been approved with our office based upon on our previous requirements; however we ask that you provide an updated package to our vendor management department. Please keep in mind you do not need to resubmit any of your information that we already have if it is up to date. The only thing we should really need is a complete page 3 and 4, a photo copy of your car insurance, and an updated W9. IF YOU HAVE ALREADY SENT THIS INFORMATION IN THE PAST 4 MONTHS AND TAKEN THE CERTIFICATION PLEASE DISREGARD THIS NOTICE.
It is important that we receive this information from you ASAP. If the executed package is not received, your office will be deactivated until received. As always, we will retain this information with utmost security and will only release it to the lenders as required.
The new set up package has been attached to this email. Please contact me with any questions or concerns. We understand that your time is valuable and appreciate your patience as we update our vendor database with this new material.
Below please find a link to access our online certification test. You must review the Certification Course prior to the Certification Test. Once successfully completed, your new approval process will be completed. We look forward to establishing a strong business relationship with you.
http://www.proprofs.com/training/course/?title=mortgage-connect-signing-agent-certification-course
As a reminder, We require invoices for all completed closings for payment and for our records. Please submit your invoices to [e-mail address] or fax it to (866) 789-1845, attention Vendor Payment.
1. All invoices received from 1st to 15th of the month – will be paid on end of that month /30 or 31/
2. All Invoices received from 16th to the end of the month /30-31/ - will be paid on the 15th of the following month.
Our web address is www.MortgageConnectLP.com
Regards,
JUDY BLOCK
Mortgage Connect LP
260 Airside Drive
Moon Township, PA 15108
Phone: 866-789-1814 ext. 437
Fax: 866-789-1845
[e-mail address]
http://www.mortgageconnectlp.com/
| Reply by ME/NJ on 9/10/13 8:43am
Msg #483912
You are either with them or not, they could care less what we have to say or feel. So many notaries will do what ever to make a buck and they know it.
| Reply by John/CT on 9/10/13 10:29am
Msg #483943
Did you mean "take a buck" instead of "make a buck", because
basically, that's all they're doing with those low-ball fees? 
| Reply by Rita Adu on 9/10/13 11:13am
Msg #483953
I also responded to this Insultive E-mail
At this juncture....it is what it is. This was bound to happen sooner or later, so I'm not surprised at the slow down. Just hang in there until things get better. Things WILL get better. My response to Mortgage Connect is below.
*************************************
Thank you for your e-mail.
Things that are decreasing:
Loan Applications
Things that are not decreasing:
Fees being charged to borrowers
My Fee
Interest rates
My Fee
Gas
My Fee
Paper
My Fee
Printer ink
My Fee
Car insurance
My Fee
E& O Insurance
My Fee
Membership Fees
My Fee
Quality of My Work
My Fee
If you must remove me from your list of signing agents, then I really do understand.
| Reply by anotaryinva on 9/10/13 12:51pm
Msg #483975
Perfect Rita! n/m
| Reply by Pam/NM on 9/10/13 1:25pm
Msg #483982
Ralph...one question
Can I be you when I grow up? Spot on! - Pam
| Reply by Claudine Osborne on 9/10/13 9:00pm
Msg #484085
Re: Ralph...one question
Ralph..Well said!! I must say..I loved your profile..I wish I could copy it..but dont worry I wont..it is very well written, fresh and different..good job!
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