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LindaH
Florida
1754 Posts |
 Posted - 10/26/2008 : 7:14:10 PM
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Many times they weren't told by the LO that they needed 3 months of bank statements (originals) or a copy of their Social Security award letter (had one guy hand one to me at a RESPA signing last year - award letter was from 2001..LOL)...I don't mind waiting a reasonable about of time but there IS a limit...for me, these usually take 45 minutes or so, which includes digging up the required information. Any longer and I'm giving them the LO's fax number.
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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edelske
New York
815 Posts |
Posted - 10/26/2008 : 3:39:57 PM
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quote:
Originally posted by LindaH
If they can't find some of the documents you need you'll have to wait while they find them.
I agree with everything Linda said (I usually do) but wait for folks to find papers is just "not me." If something is not available when I am there, or in 15 min - it can be shipped later. That is the L/O's job or the title Co. - setting the stage and having things ready. For what we are paid, I certainly am not a secretary, and if OP is listening - please put me on your "do not call" list.
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
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theinsurancelady
Washington
38 Posts |
Posted - 10/23/2008 : 09:53:19 AM
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I have completed over 50 closings within the last 18 months with O.P. and I have always received payment within 20 days.
It had been awhile since I heard from them, so (being pro-active)I called them. Gina said one of her largest clients had gone out of business and so things slowed down for her. Signing Companies are feeling the slow-down just like we are...in cash flow. Just because notaries are negotiating doesn't mean we're going out of business and the same is true of signing companies.
I have crossed RESPA's off my list of assignments I accept. The borrower is never prepared whether they are reversed mortgages or not. The borrowers seem to expect me to sell them the loan. Not my job.
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LindaH
Florida
1754 Posts |
Posted - 10/03/2008 : 07:50:37 AM
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I should add a couple things here out of fairness to Ocean Pacific -
1. I did a job for them last year - they paid quickly (paid within two weeks of signing) and were great to work with;
2. The job mentioned in my previous post - they DID raise their offer to $125, but that was still well below my fee for out-of-county reverse mortgages - they couldn't go any higher and I couldn't go any lower.
Just for your reference, too, I've also heard payment is slow - this is not from personal knowledge or experience but just what's been heard recently. You'll need to do your own research on the company on other boards to confirm that.
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Edited by - LindaH on 10/03/2008 08:58:40 AM |
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Rebecca Kalsow
Indiana
10 Posts |
Posted - 10/02/2008 : 8:27:11 PM
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Thank you Linda..I was thinking the same thing and was very unsure about the company all the same!!
Thanks for putting it into perspective for me!!
Rebecca Kalsow |
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LindaH
Florida
1754 Posts |
Posted - 10/02/2008 : 5:56:21 PM
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No one can make this decision for you, Rebecca, but consider this:
1. You're printing 120 pages - time spent printing plus paper, toner, etc.
2. Only 50-60 need to be signed - sounds wonderful BUT signing 50-60 pages is till time at the table.
3. Gathering supporting docs - copy of ID, social security cards, homeowners' insurance, mortgage statements, bank statments, photo of property, and any other documents required by lender. If the people don't have the copies ready when you arrive do you have the ability to copy on site - if not, how will you handle that. If they can't find some of the documents you need you'll have to wait while they find them.
4. These are elderly people (must be at least 62) - they may be fine, they may not - you have to allow additional time.
5. How far do you have to travel and how long will that take you? (Example: 15 miles for me is a 30 minute drive - one hour round trip)
I, personally, would not do these Reverse Mortgage Respa's for $65 - IMO they command a much higher fee. But remember, this is Ocean Pacific - they offered me $100 to do the final signing so they don't pay much - I've been removed from their database because they can't meet my fees. And I also would be concerned about working for ANY company who tells me outright that funds are limited.
Your call, Rebecca...
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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Rebecca Kalsow
Indiana
10 Posts |
Posted - 10/02/2008 : 4:26:41 PM
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I received an e-mail from this company asking for someone experienced in Reverse Mortgages. I e-mailed and informed them I was available but not experienced as I just went online and have never done a Reverse Mortgage. They informed me I could have the job but funds are limited so they could only pay $65.00. This is an application only and they need no notarizations. There will be 120 pages and some are attachments and some are downloaded from website. Only 50-60 pages need signed. I will need to collect copies from borrowers and possibly a pic of property.
Being that I am just getting started...I am not sure as to whether I should do this or not..
Could you please help me decide??
Thanks in advance for your help.
Rebecca Kalsow
Rebecca Kalsow |
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