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 New LPS/LSI Notarization Requirement		  New Topic  Reply to Topic
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Dannotary

California
265 Posts
Posted - 02/07/2014 :  01:34:07 AM  Show Profile  Visit Dannotary's Homepage  Reply with Quote
I was told that LSI does keep a 'file' on us and a rating system. I think lots of them do the same.
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kellyjmt

Washington
22 Posts
Posted - 10/30/2012 :  9:00:56 PM  Show Profile  Visit kellyjmt's Homepage  Reply with Quote
I have completed five or six Chase closings with the new form for two different title companies and it's not as bad as I first assumed. It adds about 5 minutes to the closing. I too thought of increasing my fee but ultimately decided I am paid well for these closings considering the overall time I spend at the closing (40-50 minutes.)
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dannikj

1 Posts
Posted - 10/03/2012 :  04:35:10 AM  Show Profile  Reply with Quote
It isn't related to just LSI or their notaries. This requirement is a part of Chase's settlement agreement with the US Department of Justice and the States' Attorney General. It must be completed as a part of compliance on Chase loans completed by any title provider. LSI was likely just the quickest to inform their signing agent network of the new requirement being imposed.
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Saul

Illinois
46 Posts
Posted - 10/02/2012 :  4:06:16 PM  Show Profile  Reply with Quote
It is not LSI; it is Chase requiring this.

Saul
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jlaveral

3 Posts
Posted - 10/01/2012 :  12:19:54 PM  Show Profile  Reply with Quote
This past Saturday, 9/29, I received a Company email from LSI implementing a new requirement, beginning 10/1, for Signing Agents to complete a special Notarization Form, listing all the docs that require notarization, for Chase closings. I replied that if I am to be required to complete that form, my fee will increase for the additional time. It appears that LSI has been seeing repeated errors/discrepancies by some Notaries, and instead of addressing the issue with those Notaries, they are imposing this new requirement on all Notaries. As with me, I'm sure many of you do closings for other companies who give you volumn business. They have a system in place that ranks Notaries based on their error/discrepancy rate. The Notaries with the best ratings get the first call. They also have incentive programs for low error rates. I would think LSI could come up with a similar program that values attention to detail versus one that just implements new requirements across the board. Last I checked, no human is perfect and there's no requirement you could implement that would guarantee perfection. I do not intend to bend on this issue.
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