Give me one good reason to own a GPS - 12/31/08 04:37 PM
I always thought of owning a car GPS as a luxury. I could never think of a good reason to own one. Just give me a good map and I should be able to find my way around, was my attitude.
Well, I finally broke down and bought a GPS for my car a while back. It's the Garmin Mobile XT and it works with my Palm Treo. I have to admit, I love it.
I also have to admit that I would have been lost a few times if I didn't have it. It comes in handy when driving through … (20 comments)
|
Your family notary - 12/30/08 03:39 PM
Many people have a family doctor. They might also have a family lawyer, a family pastor, an accountant, and a few other people whom they turn to when they need those particular types of services. They feel comfortable turning to just one person, because that person is intimate with their family medical history, their personal history, their financial situation, their legal situation, ... etc. And it's someone whom they can trust.
So why not have a family notary?
The thought crossed my mind today after I received a call from a woman who needed notary service. I did the closing for her … (4 comments)
|
'Sorry, a photocopy is not sufficient ID' - 12/30/08 11:47 AM
A remote closing is supposed to be a convenience to the borrower. But sometimes the convenience will have to be mixed with a bit of inconvenience.
One of the requirements of the notary signing agent is to properly identify the borrowers. And one of the requests made of the borrower is that they provide a photocopy of their ID.
In a closing I had last Friday, the borrower handed me the photocopy of his and his wife's ID. Nevertheless, I asked to see the original.
What?!
This meant that the borrower had to go outside, in the cold, and get his … (0 comments)
|
An irrational fear of auto mechanics? - 12/30/08 07:10 AM
In the movie, Schindler's List, Oskar Schindler recalled his father saying that there are three things you need in life: 'a good doctor, a forgiving priest, and a clever accountant.'
If you asked a notary signing agent what those three things are, they might say: a cell phone, a computer, and an automobile. There are some other things that we need, but those are near the top of the list. Especially the automobile, which is why I try to take good care of mine. Without it, I'm out of business.
So I went to the VW dealer yesterday and made an appointment … (3 comments)
|
NNA conference 2009: make it available to the masses - 12/30/08 05:16 AM
The National Notary Association conference will be held in Las Vegas in 2009 -- from June 9 to June 12. You can read all about it if you received the January issue of The National Notary. Or visit the National Notary Association Conference 2009 website. There will be many speakers to listen to, and many workshops to attend. There will be so much going on over those 4 days that the people attending the conference will certainly miss some events.
And many of us will miss all of it.
I wasn't able to attend last year's conference in Los Angeles. And I … (3 comments)
|
Foreign language training for notaries - 12/29/08 08:55 PM
I received the January issue of The National Notary, published by the National Notary Association. In it (on page 24) is an article about opportunities for notaries who know a foreign language.
I agree that knowing a foreign language can be a benefit. I've even submitted a few articles on this subject in my ActiveRain blog. Although the article in The National Notary has some merits, there are several things that I have to take issue with.
It mentions the difficulties of learning dialects. For example, Chinese. It states: "Even to many Chinese, these dialects can be as alien as a … (0 comments)
|
Update your profiles for 2009 - 12/29/08 02:49 PM
It will be 2009 in a few days. Be sure to update your profiles on the sites where you are listed. Even if you just did so recently.
The reason: When companies view your profile, you don't want it to show that it was last updated in 2008. It will still appear that it has been a year since you were active.
Start the new year off right, as far as your notary signing agent business is concerned, and have all of your profiles indicate that you updated it in 2009.
Have a prosperous new year.
… (0 comments)
|
Why notary signing agents get burned - 12/29/08 10:28 AM
Jack had just completed his training to become a notary signing agent. He was anxious to get started doing loan signings, so he signed up with dozens of signing services -- as many as he could find. He didn't care who they were, or what their policies were. He just wanted to do loan signings.
It wasn't long before Jack finally received a call to do a closing. It was his first closing assignment, and he was very excited. He did the closing and dropped off the loan documents. He did all of the administrative things that were required from the company.
… (7 comments)
|
Considering a career change? Consider teaching - 12/29/08 07:59 AM
I came across an article in the news this morning about the need for math and science teachers. It was projected that schools will need 200,000 teachers over the next decade. There is a need for teachers in other subjects as well, but the article focused on those 2 subjects.
One of the new teachers who was mentioned in the article was a career changer. His career before becoming a science teacher: a loan officer.
Why on earth would a loan officer want to become a science teacher?
A desire to teach is one possible reason. But there are also financial … (0 comments)
|
Microsoft OneNote for Notary Signing Agents - 12/28/08 05:37 AM
Microsoft OneNote is a great tool for organizing all types of notes and information, regardless of your occupation. I had already been using it for organizing personal information, then decided to create workbooks for my Notary Signing Agent information.
The beauty of OneNote is that it is simple to use, yet powerful.
This is how a workbook appears on the screen.
To the left you have tabs for all of the workbooks you've created. At the top are the sections in the workbook. To the right are the pages for each section. It's like having a 'table of contents' at … (2 comments)
|
Handling difficult questions from borrowers - 12/27/08 07:05 AM
Any questions that notary signing agents will be asked by the borrowers at a closing fall into 3 categories:
those that can't be answered those that can be answered, and those that shouldn't be answered Questions in the first category are usually easy to deal with. These questions are the kinds of questions that the loan officer should answer. And that is the person we refer the borrowers to.
It's the questions in the last 2 categories that notary signing agents have to be prepared to deal with. And it's not always easy, because questions that can be answered, might also … (2 comments)
|
What does your car say about you? - 12/24/08 04:53 AM
I see these kinds of articles from time to time. Someone will write an article about what a car says about its owner. Or what different car colors mean.
And if you are the Duggar family, with 18 children, you no doubt have more than one car. Or a bus?
It got me to thinking about notary signing agents. No matter how big our family, what kind of lover we are, or how aggressively we trade stocks, we perhaps drive a vehicle that is ideal for the kind of work we do -- remote closings.
So when we … (2 comments)
|
Trust your instincts - 12/23/08 09:20 PM
One of the most important lessons that I have learned in life is to communicate. It has gotten me into some trouble at times, because I'm the kind of person who doesn't mince words. I will say exactly what is on my mind. But communicating has also gotten me out of a lot of trouble too.
I got a call this afternoon to do a closing at a mortgage company. The closing was scheduled for 4:45 p.m.. When I called the mortgage company, I was asked if I could do it at 5:30 instead because they needed more time to get … (0 comments)
|
Assessing risk when called to do a closing - 12/23/08 08:42 PM
Which would you be more inclined to do -- accept a closing assisgnment from a company with a poor payment history that offered you $200 to do a closing a mile away, or accept a closing assignment for $150 from a reputable company that pays quickly, and the closing is 10 miles away? Both closings are on the same day, and at the same time.
Well, if you do the math, it sounds like the closing a mile away for $200 is the better deal. Personally, I would take the $150.
This is a hypothetical situation, but it's based on something I read on … (0 comments)
|
One Deed of Trust -- Two different notaries - 12/22/08 07:30 PM
No, this is not a bout of 'Tag Team Notaries' that I'm about to describe. It's what can be done when 2 signatures need to be notarized for the same document, but each of the signers are in different locations.
I got a call from the title company regarding a closing I did last Friday. The person wanted to know why the wife didn't sign the Deed of Trust. Her name was on it.
I explained that the wife didn't sign the Deed of Trust because she was not at the closing. I had her husband write a note explaining the … (1 comments)
|
Preventing costly errors at closing - 12/22/08 02:12 PM
I was reading on one of the notary message boards about a notary signing agent who was asked to backdate documents because the Deed of Trust was initially left out of the loan documents at closing.
First of all, backdating is illegal. It is never permissable under any circumstances. So there is no way for the notary to resolve the problem by notarizing the Deed of Trust using the original date of the closing. The company that hired her can plead all they want. It's illegal.
But I couldn't help thinking that the problem could have somehow been avoided.
One … (1 comments)
|
Holiday Season: Do title companies know where you are? - 12/22/08 12:23 PM
I received an email last week from LSI, one of the companies that I work with, asking notary signing agents to send them the signing agent's holiday schedule:
It's a good idea. No one wants to make a call to a signing agent, only to find out that they will be out of town.
However, sending all of the companies a holiday schedule can be difficult. After all, as independent contractors we work with literally hundreds of clients. There are a few things that we can do to reach out to as many clients as possible.
Phone message
Prepare a … (0 comments)
|
Long distance closing assignments, and the problems involved - 12/22/08 09:21 AM
Recently I wrote about a closing I did more than 90 miles away in Rocky Ford. Although the closing went smoothly, getting there wasn't without its problems. So I decided to write another post on some of the problems of doing a long distance closing assignment, or a closing in a remote area.
Cell phone coverage
I was making good time on the highway, when all of a sudden I saw a police car racing down the road with its lights flashing. At first I thought the officer was going after someone who was speeding. It turned out to be an accident. One … (0 comments)
|
Signed, Sealed & Delivered: loan documents - 12/22/08 08:51 AM
You've just completed all of your closings for the day, and you're ready to deliver the documents to be shipped. The packages look nice and neat when you drop them off.
But will they look that way when they reach their destination?
Packages of loan documents take a beating en route to their destination. This is what the package looked like from a closing I did recently. The loan documents were sent to the borrower.
Not only was the package damaged, the loan documents were damaged as well.
A lot of the closings that I do involve stacks of … (0 comments)
|
eSignings: getting the BIG picture - 12/22/08 07:23 AM
I have done many closings for borrowers who are visually impaired. I recall one woman who had to use a magnifying glass just to see where the signature line was on the document. Reading the print on the documents was even more difficult. It was a very frustrating experience for her.
Unfortunately lenders are not going to increase the size of the fonts they use on the loan documents. So a magnifying glass is something that I carry, just in case the borrower has trouble reading the loan documents.
But what about an eSign (eClosing)?
If it's hard to read loan … (3 comments)
|
Errors & Omissions Insurance for notary signing agents: How much is enough? - 12/22/08 06:52 AM
I recently did a closing for a lender who required that the notary have a minimum of $500,000 Errors & Omissions insurance.
Unfortunately I only carry $100,000. But I was able to do the closing because I was covered under the insurance policy of the signing service that hired me.
And there are companies that require that the notary signing agent have $100,000 E & O insurance:
When I first started as a notary signing agent I bought the E & O insurance that came with the notary supply package that I purchased through the National Notary Association. It was … (0 comments)
|
Setting a cutoff time for confirmations - 12/22/08 06:23 AM
There's an old saying: 'A bird in the hand is worth two in a bush.' Notary signing agents operate on a similar principle.
Only for us, the 'bird' is the confirmation.
My motto is: 'Without a confirmation, there is no closing.' If you've been in this business long enough, you've experienced situations where a company will tell you that they agree to your fee. Then the moment you hang up the phone, they are looking for a different signing agent who will do the job cheaper. Or they will call you to do a closing, but they don't have the documents … (0 comments)
|
RESPA signings: hope for the best -- prepare for the worst - 12/21/08 01:14 AM
I have been doing quite a few RESPA signings lately. I had one on Friday, and another one on Saturday. And there will probably be more to come, according to this story I read last week:
"Homeowners around the country are scrambling to refinance their mortgages at the lowest rates since the early 1960s ..."
RESPA signings don't involve any notarizations, so I never have to take my notary stamp out of my bag. And the set of documents is usually around 40 pages, so it shouldn't take very long for the borrower to sign them.
But not always
Something that … (0 comments)
|
If you can't trust a notary -- who can you trust? - 12/20/08 12:13 PM
How would you feel if you saw an ad in the paper for a business that advertised it was open 24 hours a day -- but when you got there at 11 p.m. the doors were locked, the lights were out, and there was a sign that said: 'Sorry, we're closed.'?
Not only that, but when you looked at a sign on the window that showed their hours of operation, it showed that they close at 10 p.m.
But wait. That's not all. Right beside the sign that shows the hours of operation, there is a sign that reads: 'Open 24 … (4 comments)
|
How far is too far to do a closing? - 12/19/08 08:27 AM
The primary reason why remote closings take place is because the borrower cannot make it to a title company to sign their loan documents, and have those that require notarization notarized. It's also a convenience for those people who are in positions where it is difficult for them to leave work. Or for people who have disabilties and must stay home.
This is where the notary signing agent facilitates the closing -- by taking the loan documents to the borrower and conducting the closing. And if you ask any professional notary signing agent, they will tell you that they will go … (2 comments)
|
Signing services that 'get it' - 12/19/08 05:21 AM
Signing services have a bad reputation. Just the mention of the name 'signing service' and many notary signing agents think of greed, slow pay, hand-holding, disorganization, ... and a lot of other negative things.
I said that signing services have a bad reputation. But I didn't say that signing services are bad.
There are many good signing services out there. Just last night I did a closing for a signing service. Not only that, but I did it for less than what I normally charge. Why? Because it was one of the good signing services -- one of the ones that … (7 comments)
|
Error-free loan signings: Is there such a thing? - 12/17/08 06:46 PM
I was reading on one of the notary message boards about a notary signing agent who had to go back out to the borrowers 3 times in order to correct errors that she (the signing agent) made in a closing. It's bound to happen that a signing agent may have to go back once to correct an error. But never twice. And certainly not 3 times.
I was trying to imagine what kind of errors she made that would necessitate going back that many times. Also, what could she have done to prevent making the errors? I would summarize the answer … (1 comments)
|
Cutting costs: Using a separate toner cartridge for appraisals - 12/17/08 08:45 AM
If you've ever printed out an appraisal that came with the loan documents, you know how much toner is required. These documents contain a lot of photos, maps, and other graphics.
I have always refilled my own toner cartridges, and try to get as much use out of them as possible before they wear down. But even when they begin to wear down, they can still be used. So I save one or two cartridges for those times when I get an appraisal to print out. Or any other documents that contain graphics, such as printouts from Mapquest.
The text … (0 comments)
|
Total monthly payment. It's enough to make you cry. - 12/17/08 05:12 AM
The borrower's wife was in tears. I felt bad. There was no way to console her.
I had a closing last night. Everything was going smoothly. That is, until the borrower discovered how much his total monthly payment would really be. I stress 'really', because he was told that his monthly payment would be something different -- a much lower amount. It's the only reason that he refinanced with this particular lender.
There are several figures that can make up the total monthly payment -- 'Principal and Interest' being just one of them. And sometimes, that is the only amount the borrowers … (12 comments)
|
'Door to Door', or 'Door2Door'? - 12/17/08 04:12 AM
There are so many signing companies in existence, that it seems they have run out of names. So they copy the name of another company, but change the spelling.
The problem is that, companies don't necessarily do this because they can't come up with a different name. Many times it's done to deceive unsuspecting notary signing agents.
If a company has a very good reputation, another company will try to capitalize on the good name of that company by using a similar name -- with a slightly different spelling. For example, a company can use the suffix 'docs' by changing the … (4 comments)
|
Sometimes you have to be a 'squeaky wheel' - 12/16/08 02:03 PM
On one of the message boards there was a post from a notary signing agent who hasn't been paid. That's not so unusual. Getting paid is one of the biggest problems in this business.
What is unusual is that it has been ... 10 months.
That is entirely too long. Yes, the company should have paid her by now. But, what has she done to get paid? It's hard to imagine that she has been very aggressive about getting paid. If all a person does is send a fax or email, then sit back and wait -- that is not enough. … (4 comments)
|
Still in business: touching bases with old clients - 12/16/08 10:41 AM
Several of the calls that I have received recently have started with the question: 'Are you still doing closings?' I assure the caller that I am.
These calls are mostly from companies that I have never worked with. My guess is that they have called other notary signing agents and discovered that the person is no longer doing closings.
It's a fact: Many notary signing agents have left the profession as the number of closings have decreased dramatically. But many of us are able to stay in business, and we need to let companies know this.
One of the best and … (7 comments)
|
Signing the 4506T - 12/15/08 06:12 PM
The question was raised: How should a husband and wife sign the 4506T?
I have done many closings in which both names appeared on the 4506T:
In this case, I have the primary borrower sign the top line, and the spouse sign the bottom line:
What I sometimes see is that the lender will provide a separate 4506T for the spouse, in addition to the one that had both names on it:
For this form, only one signature is required -- the person whose name appears on the document. That person will sign two separate 4506Ts -- one … (4 comments)
|
Payment problems? Follow the 'Chain of Command' - 12/15/08 02:40 PM
If I have a payment problem with a signing service, I believe in working directly with the company. I believe the problem can be resolved without going over their head.
Not all notary signing agents agree
It's frustrating when you've done everything asked of you to get the closing completed, then have to wait more than a month to get paid. Out of frustration a lot of signing agents will contact the Better Business Bureau. Or they will contact the title company to see if the signing service was paid. Of course, in so doing they let it be known that … (2 comments)
|
Regrets for not doing a closing - 12/15/08 12:00 PM
I got a call a couple of weeks ago to do a closing up in Highlands Ranch, Colorado. I didn't do it.
As you can see from this map, it's much closer to Denver and Littleton than it is to Colorado Springs. I don't think the caller was aware of how far it was from Colorado Springs. There are very many notary signing agents up in that area.
I recommended that he try to locate a notary signing agent up in the Denver area. Not only would it be more convenient for the borrower and the signing agent, but the company would … (2 comments)
|
FHA Title 1 home improvement loan closing - 12/13/08 08:12 AM
I had the opportunity last night to provide remote closing service for some people in Rocky Ford, Colorado.
This map will give you some idea just how remote the location is, and how important it is that people in this area have someone come out to them. It's over 90 miles from Colorado Springs:
My assignment was to do the closing on a FHA Title 1 home improvement loan. To be honest with you, it was the first time that I had ever done a FHA Title 1. But it wasn't difficult. There are several documents that are unique … (0 comments)
|
Name your own fee: blank check received - 12/13/08 05:09 AM
Wouldn't it be nice to receive a blank check for doing a closing? I could fill it in myself. Imagine the possibilities.
Well, miracles do happen. I got a check yesterday for a closing I did, and there was no dollar amount filled in:
To be honest with you, the person did write out the amount, but they forgot to fill in the figure for that amount.
I'll take it to the bank today and see what happens. This is the first time I have ever gotten a check like this, so I'm not sure what to expect. Hopefully … (3 comments)
|
Working for companies with no reputation - 12/11/08 02:02 PM
When signing agents accept a request to do a closing from a company they never heard of, one of the first things they do is check the message boards to see if they can find any information on the company. They want to read what other signing agents have to say about the company. Does it pay in a timely manner? Does it pay -- at all? Etc.
What if there isn't any information?
There's a saying: 'No news is good news.' Well, in this business, no news isn't always good news. But it isn't necessarily bad either.
That is the position … (0 comments)
|
Charging extra for Sunday closings - 12/11/08 10:38 AM
Like many notary signing agents, I do this full time, and am available to do closings 7 days a week. My fee is basically the same, whether the closing is on Monday or the weekend. I'll charge an additional fee for long distance travel expenses, if applicable, but that's the extent of my extra fees. In short, I don't feel the need to 'nickel and dime' my clients for every thing I do.
Apparently not everyone feels this way.
I came across a profile on one of the notary signing agent websites (SigningAgent.com). The signing agent posted a lot of exorbitant … (3 comments)
|
Certification and Background screening for notary signing agents - 12/10/08 02:36 PM
When I first started in this profession I wasn't sure which certification to get.
There are more than one?
Yes, at the time there were several. Each organization thought there's was better. 'Our certification is more rigorous.' 'This certification is more widely recognized.' Yada yada. I decided on the certification offered by the National Notary Association (NNA).
At the time there was no background screening that came with it. You were a 'Certified Notary Signing Agent.' You received a certificate, the right to use the 'CNSA' designation, and the right to use the logo. There were also some supplies and other … (0 comments)
|
How's the economy?: a look under the microscope - 12/10/08 11:46 AM
I'm not talking about the nation's economy. We know that's in trouble.
I'm talking about your personal economy. And I don't mean your net worth.
I was reading a news article this morning. The headline reads: 'California running out of money.' It goes on to say: "... if legislators don't pass some plan to increase revenues or cut spending or both. California will run out of operating cash in March, ..."
Excuse me? Are we talking about California -- the most populous state in the nation? Beverly Hills, Hollywood, Silicon Valley, ... that California -- a state that is synonymous … (3 comments)
|
I repeat: I do not work for the lender or title company. - 12/10/08 09:21 AM
One of the things that I stress when making a confirmation call to the borrower is that, I do not work for the lender or title company -- that I am a notary signing agent.
This is very important, because when I come to their home, or wherever they will be signing their loan documents, I am usually the only person whom the borrowers have had any face to face contact with regarding their loan. Everything was handled over the phone and through the mail. A lot of borrowers have many questions to which they haven't received answers.
Or they … (0 comments)
|
Notarizing a Power of Attorney -- in Russian - 12/10/08 06:58 AM
I wish I knew Russian. It's a beautiful language. But I don't know Russian, which is why I turned down a request yesterday for notary service.
It wasn't so much because the document was in Russian. I have done a copy certification of a Russian document before. The reason I turned down the request was because the Russian document was a Power of Attorney.
A Power of Attorney -- in any language -- is a very powerful document. And the risks of abuse of this power is very high. This is why I am very cautious when notarizing … (0 comments)
|
Deutsches Radio: Hör zu! - 12/09/08 06:28 PM
Im Moment höre ich deutsches Radio zu. Ich fühle mich, als wäre ich in Deutschland.
Ich habe eine Wahl von vielen Programmen, zum Beispiel: Bayern Aktuell, Deutschlandfunk, Hessische Rundfunk, und ein paar anderen. Und Programme nicht nur aus Deutschland, sondern auch aus Oesterricheich, die Schweiz, ... aus aller Welt!
Wie ist das möglich? Ganz einfach. Ich habe den 'Noxon Player' herunterladen und installiert.
Eine Minute später konnte ich das Radio zuhören. Alles ging ganz schnell und einfach. Und es stört nicht ihre andere Programme, während es spielt. Es spielt im Hintergrund.
Wenn Sie sich dafür interessieren, hier ist ein Link … (1 comments)
|
loan modifications - 12/09/08 06:22 PM
As a notary signing agent I occasionally get calls to take loan modification documents to borrowers for signing. There are usually about 10 pages.
After the signing is completed I return the documents to the lender. It's a good feeling knowing that a borrower will find some relief through a loan modification.
I felt good, ... until I read this headline today:
Homeowners who modified loans are in trouble again
"More than half of all homeowners who had their loans modified to make the payments more affordable in the first half of the year are already in default again ..."
For the … (0 comments)
|
Notary Public, or Notary "Private": Do Notaries discriminate? - 12/06/08 05:59 AM
Let's not waste time. Yes, notaries discriminate. There's your answer.
If you go into a bank and request notary service from the notary on staff, they will no doubt want to verify that you are a customer of that bank. Otherwise they may refuse you.
'Sorry. Customers only.'
But a Notary Public is supposed to serve the public. Isn't that discrimination to only notarize for a select group of people? Yes. By definition it is discrimination. But it is a practice that is tolerated.
If an employer pays for the notary's training and supplies, and to be commissioned, the employer expects … (5 comments)
|
Can I notarize a document for a Spanish-speaking person? - 12/05/08 04:18 PM
Absolutely.
Can I notarize a document for a Spanish-speaking person, if Spanish is the language they will be speaking?
Absolutely. If you speak and understand Spanish.
Can I notarize a document for a Spanish-speaking person, if Spanish is the language they will be speaking, but I don't know Spanish?
No!
At least not according to Colorado Notary Law.
I received a call today from a woman who wanted me to notarize a document for her mother. No problem. Let's make an appointment. Then she told me that her mother only speaks Spanish, but that she could interpret for her mother.
… (3 comments)
|
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.
;)
;)
