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crtowles
California
553 Posts |
 Posted - 03/04/2009 : 7:27:07 PM
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Hi Marlene,
You don't need an electronic seal to do the e closing that they are talking about. An e closing just requires you to have a laptop and an air card. As far as I know nobody is doing the real e notarizations that require you to have the electronic seal.
Carmen |
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basker1
North Carolina
5 Posts |
Posted - 01/27/2009 : 06:31:43 AM
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I am having problems getting my electronic seal with the National Notary Association. Something about the software. Is there another company that offers this solution to the Mobile Notary?
Marlene Basker |
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edelske
New York
815 Posts |
Posted - 10/13/2008 : 12:08:31 PM
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Electronic Closings fail the Cost Benefit Analysis - for the Notary.
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
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vince
Kansas
324 Posts |
Posted - 10/02/2008 : 09:03:18 AM
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| I typically (not last month) do 1 to 3 of these a month for an additional $10 to $25 each. That almost covers the cost of the wireless aircard. Too many do not go as planned - mainly due to connection problems at borrowers location. So far have managed to cover most of these using the wi-fi nearby. Many are on borrowers computer if they have broadband. |
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Renee
Michigan
549 Posts |
Posted - 10/02/2008 : 02:31:25 AM
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Lee - they're shaving off more than a day, more like a week to 10 days+ from table-to-market. Those e-signed Notes go into a 'virtual vault' that's immediately accessible by the secondary market - might not be immediately ready to purchase, but available the instant it is.
I know AmTrust sells to Fannie Mae, but I don't know if they're funding with their own money, or using a warehouse line-of-credit (correspondant lending). Regardless, money isn't cheap and interest adds up fast. Saving 10 days interest X ? loans a day = e-signings are more than likely the future. |
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crtowles
California
553 Posts |
Posted - 10/01/2008 : 10:04:09 PM
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Unless they are willing to pay for all of this extra work. I will not be doing any of these. This is getting out out hand. More work less pay. It just seems like much to do about nothing. I could see it if it was a true e notarization closing with everything done on the computer with no printing. But until everybody (like the county recorders) gets on the band wagon then that is not going to happen. I have read that some of the lenders are penalizing the loan officer 250.00 if they don't force this. I just don't see the point of these.
Carmen
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Lee-AR
Arkansas
678 Posts |
Posted - 09/10/2008 : 08:52:37 AM
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It was a 'private reply' to a question I asked... AmTrust said 'no need to o/n docs IF you scanned & uploaded'. I don't think sooooo, for the reasons you & I have already stated.
As to what are they 'saving'? One day's time in selling it on the secondary market. Big whoop, imho. And we must spend more time/money & yes, I think 'aggravation', so they can do this, but they don't want to pay us what the job is worth.
Good luck to the folks who decide to do these, but I won't be one of them.
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LindaH
Florida
1754 Posts |
Posted - 09/09/2008 : 3:05:39 PM
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Lee - in FL they would absolutely need the original docs back as they need the original to record in those counties not set up for e-recording as yet. And I didn't hear them say anything about not overnighting docs back - they did say the notarized docs needed to be faxed or scanned & e-mailed back to them (yet another step in the process as most times the packages don't come home with me)...
What I really didn't like that I heard was "print a copy of the package for signatures just in case there's a technical glitch at the table with the website OR an internet interruption"...what have we gained here??...nothing IMO
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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Lee-AR
Arkansas
678 Posts |
Posted - 09/09/2008 : 1:58:50 PM
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Just finished the AmTrust webinar. Oh, yeah, it looks like a whole lot more work & time spent 'at the table'. If B's have their own computer & hi-speed 'net, may be OK, but if you have to provide equipment & aircard...expensive! And more time later, too, as it seems they want the wet-signed docs scanned & uploaded back to them. Of course, you don't have to overnight them, they say. (Frankly, I have my doubts about whether or not such an uploaded mortgage with no real signature or notary cert/stamp would be recordable---at least in my state.) The webinar confirmed my thoughts on this--I really don't want to go there. At least, not now nor in my state.
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LindaH
Florida
1754 Posts |
Posted - 09/09/2008 : 1:00:34 PM
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If you can't use the borrowers' computer you'll need a laptop and internet capability (meaning wireless connection and an aircard). You'll be reviewing documents online (at a secure lender or tc website) and they'll be accepting docs by clicking a button after signing in and verifying their identity online. In addition, you'll still need to print out a certain number of docs and get "wet" signatures as most counties in FL do not accept e-recordings yet and unless you have your e-seal you'll need to print out hard copies of all notarized docs for your notarization. You'll most likely also have to print out a set of docs for the borrowers unless they have a computer setup and can read their docs from a cd. The criticals, IMO, should still be given to them via hard copy (HUD, Note, Mtge, TIL, RTC, etc) to avoid any problems (I couldn't read the CD and I wanted to cancel!!)
If you want to do e-notarization I think the only place to obtain that at the moment is the NNA...
I did the AmTrust webinar on e-signings - it seems easy enough but, from what I've read on many boards it sounds like it could turn out to be more work than just hard-copy signings. For the additional work, coordination and technology I feel these should command an additional fee for the accommodation.
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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LIZBETH
Florida
19 Posts |
Posted - 09/09/2008 : 12:35:54 PM
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I am interested in training to do ELECTRONIC DOCS. (NOT E DOCS) I have a laptop, and would like to learn as much as I can about doing that service. How do I sign, how do I put my stamp, etc.
I have had calls, and had to turn them down since I am unsure.
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