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Questions and Answers from NSA's - Article 22 |
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Covers a wide variety of topics. Make sure you read them all to get all the information. by Victoria Ring---Bio Dear Victoria: How do I go about receiving payment from a title company? The loan officer who I did the loan signing with is not responding to my request for payment and I gave the loan officer my invoice, which was suppose to be inserted in the envelope with the Loan Documents. (Brenda) Dear Brenda: My first question would be: Did you check back with the loan officer to make sure you did not make any mistakes that would decrease any payment for your services? Secondly, are you listed on the HUD for payment? Thirdly, never rely on other people to deliver your invoice. You should mail one to the title company (or fax it.) Then, follow up with a telephone call to make sure your invoice is received by the proper party. Every title company has different procedural operations. If you plan to continue working for this company on a long-term basis you need to become familiar with their operations and who pays you so you can ensure prompt and proper payment of your services. --------------------------------------------------------------------------------------- Dear Victoria: Where do I go to get help regarding signing companies that don't pay for your services and lie to you every time you contact them regarding the money they owe you? (G.G.) Dear G.G.: This is where you need to have your business practices in place and decide whether or not it is enough to pursue or write off. What I recommend is to send an invoice at the 30 day point with a polite letter inquiring about payment. At the 60 day point, send a stronger letter along with another copy of your invoice and again after 90 days. Always give the company 10 days to pay or theaten that you will be filing a small claims case. Send the 60 and 90 day letters certified return receipt or UPS or FedEx and require a signature confirmation so you will have proof of delivery if you should file suit. Again, for a $50 signing appointment it may not be worth pursuing. This is where you have to decide what is good for YOUR company. Or, consider joining PrePaid Legal Services at http://www.prepaidlegal.com/ and they can help handle future collection matters for you. --------------------------------------------------------------------------------------- Dear Victoria: I have been asked to notarize a Power of Attorney. I have not done this before. What are some things to be careful of? (Jana) Dear Jana: Make sure you make the proper identification, read the certificate and fill it in correctly. --------------------------------------------------------------------------------------- Dear Victoria: I am just getting into this part of the notary business and am unclear about the 3 day cancellation period. Am I correct that the period starts on the day following the date of signing? For example if the borrower signs on Wednesday at noon then the 3 day period starts at 12:01AM on Thursday and ends at 12:00PM on Saturday (barring any holidays and Sundays )? Is this correct? (R.G.) Dear R.G.: If a borrower signs on Wednesday the Right To Cancel will begin on Thursday and end at midnight Saturday. Of course if Thursday is a holiday such as Thanksgiving, you would skip to the next business day and the Right to Cancel would end at midnight Monday. --------------------------------------------------------------------------------------- Dear Victoria: What is the requirement for becoming a Maryland Notary Signing Agent? (Lawrence) Dear Lawrence: You will need a title producers license and your notary commission. Click here for more information. Also, it is recommended that you purchase the training materials at Just Point and Sign http://www.justpointandsign.net to learn the actual documents used in a closing. Training in marketing your business can be purchased at 50 State Notary http://www.50statenotary.com. --------------------------------------------------------------------------------------- Dear Victoria: I am new to this business. In effort to provide myself with the proper training, I have purchased books and videos from various places. All of them seem to only scratch the surface and do not provide comprehensive training. I know that not all issues could ever be addressed, but I feel like I am floundering. I tried getting a mentor in my area, but the only one that would agree to help me now has a new baby, and therefore she has no time. Is there a good foundational and comprehensive course available? I must be frugal in the items I purchase for a while as I have now had to purchase a new computer. I don't want to waste time and money looking for such a course. I thank you in advance for whatever information you may be able to provide. (Becky) Dear Becky: That is why Victoria Rivera spent 100s of hours developing the extensive training materials at JustPointandSign.Net which are available at http://www.justpointandsign.net. She was also tired of the sparse training available to notary signing agents and decided to do something about it. On the front page of her website is a comparison chart to show you the cost comparisons of the different products. The material with JustPointand Sign has been designed to take the beginner and teach them the nuts and bolts of the documents and how to do a closing and keep control of the situation. The training program is complete and comprehensive. There is nothing more to buy. Additionally, there is a screen shot sample of the book on the front page of the website in the bottom left corner so you can see some of the details in the book before purchasing. I am sure you will see the big difference in the quality of the training materials when you purchase JustPointandSign.Net's. --------------------------------------------------------------------------------------- Dear Victoria: I have handled several closings recently that required the use of a lawyer or title company's office. I don't understand why they have a requirement to handle the closing at their office because they don't participate in any way. Do you know the purpose behind some loan companies handling closings like this and others, with the same type loan, sending the signing agent to the client's home? It seems to defeat the purpose of having the closing come to them since they are now coming to us. (Patricia in Texas) Dear Patricia: Below is the explanation provided from the Texas Finance Code Chapter 39. If an individual is pulling equity out of the house (they always will because they pay their closing costs from the proceeds of the refinance) then it must be done at an attorney's office or title company: Home solicitation transaction This will save you wear and tear on your vehicle and the cost of fuel so there is a silver lining in the law for you. --------------------------------------------------------------------------------------- Dear Victoria: Does "(seal)" mean I have to stamp it in acknowledgment when there is no signature line for the notary? For example on Riders. (Sherry) Dear Sherry: Below is the common law definition of a seal: SEAL, SEALS - A seal is an impression upon wax, wafer, or some other tenacious substance capable of being impressed. Lord Coke defines a seal to be wax, with an impression. " Sigillum," says he, "est cera impressa, quia cera sine impressione non est sigillum." http://www.lectlaw.com/def2/s133.htm The above link will give you more history and definition under the legal term of "seal". On the type of documents you mentioned, "Seal" means their signature or their mark or as stated in the above definition, an impression upon wax. If there is not a notarial certificate that you are filling out and signing you would have no reason to place your notary "seal" on it. --------------------------------------------------------------------------------------- Dear Victoria: I am in South Carolina and I have seen many people advertise that they can go to signings and are not lawyers. When I contacted the state office they told me it would be UPL (unauthorized practice of law.) How are these notaries getting around this? I am confused about how I can actually help people and myself. What can I do in the state of SC to actually earn money in this field? I have my commission and I haven't used it yet. (Tish) Dear Tish: Currently South Carolina is one of the states that is an attorney only state. Call a few of the notary publics in your state and check to see what they are doing. There are other ways on making money as a notary and one is to offer marriage solemnization's. Many notaries in the state of Florida such as myself have additional services we offer in performing weddings for people -- especially if you live on the coast line. --------------------------------------------------------------------------------------- Dear Victoria: I am a certified loan document specialist who is now looking to expand into forming my own "signing company" where I will contract out other notaries to do signings and I want to go nationwide with this business. Can you help? (Rosemary) Dear Rosemary: I would suggest contacting a few of your signing companies and see if they will assist you in understanding their business. Some of them will be more than happy to talk to you if presented in an interview format rather than an attempt to steal business away from them. I don't know of any books that will tell you how to start up a signing company. I will tell you that you need to make sure you have a solid cash flow to meet the monthly bills (notaries, phones, computers, network, E&O Insurance etc). Running a signing company is not as easy as most people think. Your reputation goes out on the line every time you send someone out on an appointment. One person's mess up can cost you a client or even your entire business. Additionally, some of the title companies will use you and not pay you. They prey on the new person so make sure you set limits on how much credit you are willing to extend to each company. Have a business plan. As you well know, there have been many signing companies come and go and this is mainly due to the fact they did not research the signing agent business before opening one and bit off much more than they could possibly chew. --------------------------------------------------------------------------------------- Dear Victoria: I am a notary signing agent in California. Normally I work directly with title companies in the Sacramento area and I pick up and deliver the docs to the office. I have the capability to receive and print edocs; however I have never done it. I am now receiving forms from signing agencies in southern CA wanting me to register with them, where I could possibly have to accept edocs. My question: How do you know when to change from standard to legal size paper? For instance the Deed of Trust is about 15 pages, no problem, but before that is some legal size documents. The pages are all intermingled. I have a HP1320 laser printer and will have to physically change the drawers. Does the program the signing agencies use tell me when to change paper? (Charlotte) Dear Charlotte: Check the software that came with your printer. Some printers will automatically prompt you to insert legal-size paper before the page will print. If not, I usually just load legal size paper and print everything on legal. --------------------------------------------------------------------------------------- Dear Victoria: The NNA has pulled their Certified Notary Signing Agent status from Virginia notaries. I became Certified by the NNA while a Dear Susan: CNSA is a created marketing title not a "national" credentialing. VA requires the CRESPA which carries much more weight in the marketing arena as well as keeping you out of trouble in VA. I wouldn't worry about not having the CNSA designation. Just Point and Sign does offer a test (CACE) which is by far a stronger test of knowledge. For more information visit http://www.justpointandsign.net/cace.htm --------------------------------------------------------------------------------------- Dear Victoria: I referred you to a gentleman named Ron Mueller, who wrote a tax book for home based businesses called It's How Much You Keep That Counts! He is starting a teleconference series but needs help in recording and saving the discussions. I told him about your excellent telecourses and recommended that he contact you. I hope you don't mind. By the way, his book would be an excellent resource to recommend. If you'd like to see check out his website, it is: http://www.homebusinesstaxsavings.com Thanks for all that you do for us, and God bless. (Makini) |
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