Questions and Answers from NSA's - Article 7

Covers a wide variety of topics. Make sure you read them all to get all the information.

by  Victoria Ring---Bio

Dear Victoria:  (This question was asked at the Notary Conference) What should I do if I go to a signing appointment and the borrower's house smells bad? --Unknown

Dear Unknown:  Grin and bear it. You will only be there for 30-45 minutes. In a business you must be prepared for anything. You also must be flexible. Of course if some rats come out of the closet and start knawing at your ankles, I would ask the borrower's to meet me at a convenient, quiet restaurant to complete the signing.

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Dear Victoria:  Love your book, love your website. Anyhoo, do you know where one could find out information about the different types of loan documents required for a refi, line of credit, 2nd, etc?  I think it would be really helpful to have a checklist of what docs should be with each type. Thank you and God Bless. --Patty

Dear Patty:  Because of the extreme variances in state laws as well as the ever-changing world of the real estate industry (including new federal regulations) it would be impossible to keep samples of the various types of loan documents current.  In addition, because every loan package is different and unique, it would also be impossible to cover every possible type of document that could be included in a loan package.  There are some notary instructors who provide sample mortgage documents in their classes and seminars, but you will not readily find this type information except from people working in the real estate field field.  Your best direction is to seek a notary mentor who will educate you on the standard documents used in your area as well as forms required by your state to be in every standard loan package.

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Dear Victoria:  I went to a title company this week to assist in a full day of closings. It did NOT go well at all! The first Borrower came in and was a first-time home buyer. His realtor accompanied him. She was very abrupt from the beginning. As I began to hand the Borrower (B) his docs to sign, I read the title of the doc, and pointed where to sign. He started asking technical questions about the docs and I explained to him and his realtor that I am the notary and I do not work for the title company, therefore I am unable, by law, to interpret the docs or even try to explain them. The realtor got upset and left the room and got the title officer to come in and explain the docs to the B page by page. They were all upset with me that I would not do this and especially the title officer who thought I was there to do this job for her! The realtor made it a point to stand outside the door of the room and make comments like, "the notary doesn't know what to do." This is not true. I know what I am allowed by law to do and that's all that I will do! I've done about 200 closings so far. I think I know where to tell people to sign! She meant that I didn't know how to explain the docs, which is what she and the title officer expected me to do. (To pretend that I work for the title company). Anyway, I finished that closing, handed the file to the boss, and left! I immediately contacted the signing agency that staffed me out to them to let them know that I left and that I did not appreciate what was expected of me and that I felt it was illegal. I will NOT overstep my boundaries as a notary and risk losing my commission just to help a busy title company for the day. I then emailed the FL State Attorney General, Charlie Crist, for his opinion about what I can and cannot do during closings. I know what I can do, but I want to hear it directly from the A.G. and pass it along to TSC. Am I wrong? Or is this a common practice when working with title companies? Where the title company/Lender expect you to explain the docs and then get angry with you when you don't? What would you have done? I appreciate your comments on this. Thanks! --Melonie

Dear Melonie:  Since I only know your side of the story it would be impossible for me to determine if you or the title company were in the wrong. And since I was not there to hear the tone of your voice and your answers to the questions I cannot provide you with an unbiased opinion as to why the situation occurred. However, from the information you provided I think you went a little too far when you contacted the Attorney General's office. There are professional ways of handling situations where you can still answer questions enough to satisfy the borrower and your customer (title company) but still operate within the law of a notary signing agent.  If everyone was agitated with you, you could have done something wrong and not realize what it is.  I suggest you find a notary mentor in your area and practice conducting a signing with him or her. Ask your notary mentor to point out ideas that will help you when you encounter these situations again.

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Dear Victoria:  I've read your "How to Start a Virtual Bankruptcy Assistant Service" book and I've ordered the training CD.  But now my question is...What are my chances of getting business when I have no hands-on experience?  What is the best way to get your foot through the door?  One of the suggestions you provided for marketing this service is to let the attorney test the service and opt not to pay if they are not satisfied with your work.  This appears to be a very good strategy but I was wondering if you have no experience, would this technique work?  Thank you in advance for your response. --Renee

Dear Renee:  My first question is how much time have you dedicated to training yourself in the drafting of bankruptcy petitions?  If you are going to open up a pizza shop, you need to know how to make pizza.  If you are going to start a bankruptcy forms processing service, you need to know how to draft bankruptcy petitions.  That is why I put all the training in the front part of my book and left the marketing information at the end.  After you have practiced and know how to draft petitions you will be in a position to "talk the language" when you start marketing to attorneys. Next, you need to determine if you are going to target your services to local attorneys in your area or other states. Each marketing technique will be different depending on your goals.  I suggest you sit down and think out your marketing strategy, run your ideas by someone who is more experienced than you, and then implement those ideas and find out what works for you in your particular area.