The requirements for becoming a notary in many states is almost zilch. I believe this is one of the problems in this industry. Joe Blow off the streets hears through the grapevine (or one of those advertisements on the radio) what a signing agent will receive for taking a bunch of papers to someone's house, telling them to sign wherever they see their name and then putting those docs in an envelope and sending them off. And then collects that fat check for $50-$60. How simple was that???
SA's and signing services are coming out of the woodwork again, just like they did 5-6 yrs ago
I'll bet the XYZ is marketing like crazy right now too. In fact, I haven't been a member for over eight years and I've started receiving mailings from them again. Coincidence? I think not.
A friend told me about a month ago, her and her husband refinanced their home recently and their SA was a real doozy.
My friend's husband was having a beer when the SA walked in, and the SA said to her husband, "I'll have one of those". The SA then proceeded to just hand the docs over and said sign where you see your name. I was sick when I heard this. I asked my friend to check the SA's stamp as the SA was a "close" relative of the person hired to do the signing. And then, the docs never arrived to the title company. BIG SHOCKER! I also check all the major sites for this particular SA, nowhere to be found.
The signing of course, had to be redone, and my friend was going to speak with her LO at a local Chase Bank, as this was their loan, but why in the world would LSI think they're going to get more competent signing agents farming these assignments out to an SS? Seems like they're just asking for more trouble, depending on the SS, of course. If they hire a 4-5 star agency, that would be great. One can only hope |
