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LindaH
Florida
1754 Posts |
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ceb193
Pennsylvania
13 Posts |
 Posted - 12/03/2013 : 5:46:32 PM
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Linda,
First let me say that you seem very bitter. I see you responded to Ken with no intelligent reply, so I can only attempt to clarify myself so maybe you will understand.
In the title of my article it clearly states "illegal and unethical practices." No where in my article did I state it was illegal to not list "certain" fees.
Take your time, take a few deep breaths, and re-read what I wrote again, and try and assimilate it!
From the negativity you portray it sounded as if may be affiliated with a signing agency. However from viewing your website I would say its highly unlikely.
I have my law degree, teach at PSU and choose to perform closings on the side in my spare time.
That being said, I am educated and try to work for the common good of people. If I choose to practice law, I would just be one of the bottom feeders and attempt to hold myself to a higher standard.
Its not that we need more laws, we need more ethics. Unfortunately no one will sanction or regulate themselves, as if they did, we would not have the economic or social issues we have today. We certainly would not have a need for a site that discusses on whether or not a signing company will or will not pay you or how long it takes to be paid. We all know loans fund after the right to rescind is over with. Why does it take so long to be paid? Because companies are shady. They wait to be paid to pay you and hold money as long as they can after they do get paid. If a signing agency doesn't get paid will you? Its a roll of the dice with these companies that hire you and its not right.
Everyone knows that this business is going downhill due to signing agencies. Fees are getting hacked and standards are being lowered.
Regulations are hopefully coming and its my personal "opinion" that signing agencies should be outlawed or at the least regulated.
There are people calling themselves signing agencies making deals with title companies that just are not paying notaries (as we all know). God only knows what they are doing with documents.
Anyone who is truly in the business, knows the industry has changed in the last few years.
I will choose not to post again as I don't wish to get into discussions with people that try to tell you their opinion of the law minus their education in law i.e. a Juris Doctorate Degree.
Good luck in your endeavors all!
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LindaH
Florida
1754 Posts |
Posted - 10/30/2013 : 06:02:06 AM
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First off, if SS is paid from the operating account from title/escrow, then the fees ARE included on the HUD - they're included in the total fees collected by title/escrow. How they disburse their payments and to whom is their business issue. Nothing at all illegal about it. The accounting of those funds comes from title/escrow when they reconcile their books and when/if they're audited by insurance regulators.
I have never been put in a position to "make the loan happen" because I don't allow it. It's not my job to do the loan officer's job and I'm not there to sell the loan.
And, do you REALLY want more federal legislation? I don't. So I'd be careful about pushing to "federal laws to protect us all in the field" - they won't...
JMO
Linda
http://www.columbiacountynotary.webs.com
http://www.notary.net/websites/LindaHubbell |
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ceb193
Pennsylvania
13 Posts |
Posted - 10/29/2013 : 9:33:27 PM
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HUD statements are supposed to contain what the borrower is being charged for the closing. 3rd party "Signing Agencies" quote title companies a flat fee for all signings. This is illegal and title keeps the change i.e. theft. Meanwhile the borrower is being lied too for the rate they are being charged and therefor is highly illegal. There are also many attorneys that hide charges in closing costs and don't break down the fees. TIL is supposed to protect borrowers (and us in this case) but its not working properly when there are loopholes that shady companies use.
Notaries are also being put in positions by signing agencies to make the loan happen no matter what or they will not be paid. According to law the purpose of a notary is to be a neutral party. It’s unethical and criminal to not pay a notary their full fee if the loan does not fund or the borrower does not sign. Often “trip fees” are paid to a notary if something happens beyond our control where a loan does not fund. With a notary that simply wants to be paid they will then become less ethical and simply get the signatures which breaks down the entire process. Put pressure on the people that hire you and report the to your Dept. of state and do so anonymously for the record.
I am speaking to a local senator about these issues and several others related to our field. If you have an valid legal matter such as the above I have address please reply with your matter. I am attempting to have federal laws enacted to protect us all in the field. |
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illegal & unethical practices
