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April 24, 2011

Business Licenses

Does your business have a business license?

Having a “real” business like a store or restaurant requires you to have a business license and perhaps some other permits.   Being a notary public is easier.  You don’t need a liquor license unless you want to offer unique wines from Mendoza that you stash in your trunk to your notary clients. It might help them get through a stressful signing, you never know.  But, most notaries do not have a business license, and legally, you should probably have one.

Company names?
Its good to have a notary company name / notary business name.  It gives the impression of professionalism.  Our notaries often put a company name on their listing, but many keep changing the name every several months.  I begin to think that they are not licensed, and they just improvise on the name as they please.  This can get you into a heap of trouble. We already had a threat of a law suit because one notary used someone else’s name (gulp).  Notaries with a company name get about 17% more clicks than those that don’t.  Removing your personal name to replace it with a company name can lose you some brand recognition in the short run though.

Business licenses
Its doesn’t require a degree in nuclear physics to ge ta business license. Just waltz down to your county clerk’s office with a check and register your business name.  You have to check to see if the name is already in use.  If not, then register your choice of name. Its good to think for a few weeks what you want to name your business, so you can start off with an auspicious name.  Registering your business on a lucky day will help your business for life too, so have a good astrologer pick a lucky day for you with some good constellations. Make sure Mars is in the right house.. or else!  You have to list your business name in one or more newspapers in your area, but the county clerk will take care of that for you.  You fill out a few quick forms and write them a check, and then you are done.

Name ideas
Its sometimes a good idea to have a unique name.  Many companies in our industry have a name so similar to someone else’s name, that when the “other” company does something wrong, the new company is effected by the bad reputation of the other company.  Unique names are good, and names with geographical terms are sometimes a good idea too.  Its best to pick a good name, and then keep it for life.  Many companies like to keep changing their company name, and this causes a lot of confusion for the customers.  There is a train station in Bombay that changed its name three times in the last several years.  I don’t know whether to call it “Fort”, “VT”, or “Victoria Station”, yikes.  I’ll have to call it, “The railway station formerly known as Victoria Station”.  That will not help me when I try to look it up on the internet.

Do names have energies?
The mystics think that names have powerful energies, and that if you pick a good name, that will help your business. Personal names have karma too, and if you want to change your karma, the first thing to do is to change your name.  Number combinations have energies too.  Names also make quite an impression, so if your name seems unique and also gives the client confidence in you, you are on the right track. Considerate Notary Services, Astute Notary, Meticulous Signing Services, Simi Valley Signatures…  These names may be a bit funny, but they are good names in my opinion because of the impression they give.

When you are ready!
Think hard about what type of notary company name / notary business name to get. Ask your friends and your cat or dog what they think too.  Meditate on it.  Then, when you are ready, register your business name!

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http://blog.123notary.com/?p=4173

Choosing a name for your business license
http://blog.123notary.com/?p=7103

You could get sued if you don’t have a business license
http://blog.123notary.com/?p=7100

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April 17, 2011

Seal Forgery – it happened to me!

Seal Forgery – it happened to me
I notarized a set of loan documents for a company back in 2003. It was a regular signing and nothing went wrong. You know how companies sometimes request that you send them another “Jurat” if the stamp isn’t clear on the initial one? California notary law requires that certificates be attached to the original document for security reasons. This means stapled. But, the loan companies protest whenever you ask them to send you back the document and ask why you are being so difficult. For many signing companies, the idea of obeying laws means you are being difficult. The company that forged my stamp did not ask for a loose Jurat, they were in a hurry and pulled a fast one.

I heard about it from a third party
A third party contacted me asking if I had notarized a loan package for a particular borrower. I couldn’t find the information in my journal for the specified dates, or even for the specified month. We figured that it must be a company that I had worked for before that had an impression of my seal on one of their loan documents, since I didn’t notarize that particular borrower’s loan that was in question. We had to be detectives to figure out what had happened.

Copying my seal
This company copied an impression of my seal that was on someone else’s loan, and copied it onto an Acknowledgment certificate for an entirely different loan that I had never had anything to do with. It was hard to tell since photocopiers are so good. I asked the third party to send me the notarized document and its Acknowledgment certificate. The forging job was so pathetic, it was funny when I saw it. The seal looked legitimate to my eyes, since I couldn’t tell it was copied. However, there were tell tell signs that I had not notarized this document.

(1) I always used an embosser on every page of every document. Embossers leave a raised impression in the paper. This document had no raised seal on it.
(2) The signature was a very girly signature which didn’t match mine even slightly. The lines of the signature were very curly and the i’s were dotted with cute little circles that only a girl would make like that.
(3) The acknowledgment certificate wording didn’t have the he/she/them and (s) verbiage crossed out where appropriate indicating that the person who fudged this job couldn’t have been a notary, or at least was a really pathetic notary.

I told them:
After I saw this pathetic attempt at something which is not even good enough to qualitfy as forgery, I told the third party that I had definately not notarized this and that it was fraud. Additionally, there was no journal entry to back up this job, and I took journal entries for all transactions in all cases.

My advice
If you always use an embosser on all pages of all documents, you deter the switching of pages after the fact on documents you notarized. You make it almost impossible for someone to get away with forging your notarizations. Additionally, you impress your clients with how thorough you are which can gain you more business. An embosser is less than $40, so get one today! Some states will require a government issued authentication of permission to get an embosser, so apply now!

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April 15, 2011

Leave a few spaces open in your journal?

Leave a few spaces open in your journal
 
Have you ever heard this phrase before?  These are the words a lender will tell you when they want you to backdate.  If you leave a blank page in your journal a day before the signing, then it will look like you really did notarize their loan documents on the date that you claimed you did.  This is completely illegal, but this is what many lenders will ask from you when they are in a pinch.
 
The lock
Lenders can offer their borrowers a particular rate, but there are expiration dates.  If a loan has a lock that expires on the 28th at midnight, and the loan documents were not ready to be compiled, sent, printed, etc., on the 27th or 28th, then the lender is in a bind. They will have to redraw all of the loan documents all over again and have a slightly higher rate, and an irate borrower. To save themselves this nightmare, they will often ask the notary to fudge a date when in this situation.
 
It’s your notary commission
If you get involved in this type of fraud, you could get fined by your state notary division, lose your notary commission, or perhaps even be looking at jail time.  Since there is no intent to harm anyone, jail time doesn’t seem probable, but laws differ from state to state, and the laws are always changing.
 
Lose the client?
I was asked to do this a few times.  I said no, and lost the client. Maybe I’m better off. Lenders love notaries who will lie, cheat, and steal on their behalf.  They will love you if you can look at a loan which is an obvious rip off and say nothing while the borrower is signing it. Of course, its not your job or entitlement to make commentary about someone else’s loan. You will be making someone lose thousands by butting in, and its not your right.  Lenders also love someone who will forge an initial or put yesterday’s date on a Jurat certificate upon request. You would not believe how many Title company staff members have forged omitted initials on Deeds of Trust, and other documents that require initialing.  Few of them would dare forge a signature as that would involve jail time, but some feel that its open season on initials.
 
Just say no
Don’t get involved in this nonsense. Its your life, your karma, and your commission.  If you get armtwisted once, you could easily get in the habit, not to mention feel ashamed for the rest of your life.   Additionally, it is recommended that you avoid screwy companies like the plague. These are exactly the same companies who will have no qualms about cheating a notary out of their pay for little or no reasons at all.

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Index of posts about journals
http://blog.123notary.com/?p=20272

Notary Public 101 – Journals
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Everything you need to know about journals

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March 19, 2011

What to say and what not to say.

Filed under: Etiquette,Posts With Many Comments — Tags: , , — admin @ 5:43 am

Notary Etiquette – what to say and what not to say
 
Politeness is hard to gauge in any society.  In a social environment, if people don’t like your comments, they just won’t associate with you.  But, in a business environment, you will lose valuable clients.  Personally, I am the worst person to write this post, because I am notorious for saying the wrong thing at every given opportunity.  On the other hand, maybe thats why I am the perfect person to write this article — I know what one has to lose by opening their mouth!
 
Being professional
Some people treat professionalism by being overly uptight, no fun, and addressing people as Mr Smith, and Mrs. Sutterfield.  They never crack a joke, and never express an opinion.  They will dress well, and get their job done, but were they a pleasure to deal with? Sometimes I really tune into this issue at the Japanese restaurant down the street. 
 
The Japanese restaurant

Its less than two miles away — a Japanese restaurant so good, its worth walking a mile to get to.  With the lack of parking, sometimes I do walk at least half a mile, and then wait to be seated. They are the best cooks, and are very professionally dressed in their black ninja outfits.  Politeness is never an issue, but there are never opinions, and small talk is …. well… “small”.  Then, a new guy started working there.  He is ultra friendly and talkative while being extremely polte.  We talk about every topic under the sun (not the rising sun).  He can talk about any subject while being careful not to criticize others.  Maybe he should be writing this blog entry!
 
Being friendly!
To get good reviews with the signing services, you need to be  a pleasure to work with.  Being human and friendly is part of the game — of course without sacrificing professionalism.  I really want to get responses from this blog on what the notaries consider the “right amount” of being friendly.  The trick is knowing what to talk about and how to talk about it.  With me, I’ll quickly digress into some inappropriate political discussion: a big no-no.  But, weather is a much safer bet.  But, even weather can be controversial.  Talking about rain is safe, but should you wait for the other person to bring up the subject of tsunamis just to be safe?  If its me, I’ll even ruin the subject of weather by bringing in the concept that God is upset with humans and thats why we are having the tsumani.  I’ll alienate borrowers even with the safest of topics.  Maybe I should stick to hurricanes.  At least with hurricanes I can blame the government for being neglegent about building levies, and leave God out of it!!!
 
Safe topics
Traffic is a safe topic, especially for me, since its clearly the fault of humans and not God’s wrath. But, what if you are late and talk about traffic.  Then, its no longer fun conversation — its an excuse… There’s a no-no!  Only talk about traffic if you are on time!  If its me, I’ll ruin even a nice conversation about traffic, by blaming the government for keeping gas taxes so low.  After that remark, even the socialists will outcaste me!  But, its true — if gas were $7 per gallon, there wouldn’t be any traffic — ever!!!
 
Fashion – is it safe?
Fashion could go either way.  It depends on whether the other person has the same tastes as you.  But, sticking to more “universal” topics like where the best sales are for general items is relatively safe.  Talking about general items is politically correct, but when it gets into tweed blazers, you are entering an area of sociological barriers.  The professors will like the conversation, and everyone else will raise their eyebrows!
 
Guns and Religion?
Obama really blew it with this comment.  Religion teaches peace, so how can religious people love guns so much?  Do they want to fight for peace? Don’t talk about this at a signing!  But, if you can pull off talking about what happened at church last week without alienating those of a different caste, creed or faith, I’ll be impressed.  If you can make this type of conversation “universal” in nature, you are a professional at knowing what to say and how to say it.  I would personally give you a reward!
 
Politics?
OHG… stay away!!!  The most political statement you can get away with is how you bumped into Obama at the swimming pool.  That will work.  You can mention how he out swam you.  I heard he keeps very fit!

If you follow these tips, you will be a more professional notary!

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March 10, 2011

Going on vacation?

How to lose half your clients while on vacation!
 
Are you going on vacation?  Smart notaries call all of their regular clients up and let them know that they will be away.  Its good to let people know when you will and won’t have phone or internet access just in case.  Smart notaries give everyone a “heads up” in any situation just to let people know what to expect.  The worst thing for a signing company is to be left high and dry by a notary, and it happens all the time.
 
Will you lose your clients?
If your clients love you and swear by you, you are in good shape.  Sure, they will use a substitute while you are gone, but if you are loyal and good to them, they will go back to using you when you come back, especially since you gave them a  “heads up” before you left.   Not all notaries are so clever though. Many notaries just leave when they feel like it, and when their regulars call, they get an answering machine and no call back.  Thats a no-no!  The main thing is to give great service when you are in town, so that everyone will wait for you during the periof of time when you are going to be away.
 
When should you go on vacation?
Its good to get away regularly.  If you are on a budget, even a nice camping trip will do you a lot of good. There is nothing better than being around trees, rocks, grass, and animals — so long as the animals are not bigger than you (or hungrier).  Keep your food in a bear container if bears are around. Nature replenishes the body’s qi supply and replenishes the mind and soul.  Your mind needs a break and needs a few days to think about something completely different than phones, work, pressure, and problems. 
 
I recommend going away no earlier than the 4th of the month and no later than the 14th of any particular month.  The first few days of the month sometimes have some clean up issues from problems during the end of the month rush.  Going towards the end of the month when people need you is suicide. Of course, since the economy is so bad, the end of the month rush might not be such a rush.  But, in general, go when its quiet.  December is generally a slow month in general, and people expect that you might be away for the holidays anyway.
 
Excuses, excuses.
Don’t be an excuse maker.  Nobody wants to hear it.  Whenever notaries fail to call a signing company back, the signing company often comes to me, and I always get the same types of excuses. 
 
(1) “I was on vacation in Panama and didn’t have access to a phone”. 
Commentary – you could check into an internet cafe every few days.  Internet cafes exist in almost all countries.
 
(2) “I was at a funeral, and couldn’t step out”
Commentary – Did the funeral last for the 72 consecutive hours that you were not able to make your call for? — Did someone had a gun to your head who wouldn’t let you go to the bathroom either during this time? Give me a break!
 
(3) “I was in the hospital and couldn’t make a phone call”
Commentary – If you are not incapacitated, and want to keep your customers, call them NO MATTER WHAT!
 
Be accountable for your last job.
Notaries often get in trouble when they are on vacation. They forget that they have to be accountable for the last few jobs that they did.  Maybe there was a mistake.  Its usually a mistake made by the Title company or Lender, but the notary still needs to be responsive.  Many phone plans will charge you $2.00 per minute to answer calls overseas.  $2 is less expensive than losing a client!  Stay in touch, and keep your clients.  Getting clients is hard, but losing them is easy.  Just be unresponsive while on vacation!
 
Maybe its good to not do any jobs for 48 hours before your trip!
In this economy you need all the jobs you can get.  But, if you do a job, and are in Japan the next day, what if there is a problem with the loan?  The lender will need you to go back and fix the problem with the loan whether its your fault or not, and if you are in a Zen garden in Osaka with no phone, this will be difficult.  At a minimum, let the signing company know that if there is any type of problem, you will be staying in Kyoto and that they can call the hotel there if they need you.  Then say, “Sayonara”.
 
Map out where the internet cafes are.
Its tough when you are on vacation.  There are tight itineraries, foreign languages, strange customs, and even stranger people depending on where you go!  Just getting off the plane and getting to your hotel without an intestinal challenge can be a mouthful in itself in many countries.  Should you schedule time between your museums and culinary adventures to spend thirty minutes at an internet cafe?  If could save you a client.  Then, go back to your trip, enjoy the scenery, enjoy your tours, savor your nights out, and then enjoy the pleasures of reverse culture shock and jet lag once your plane lands and you arrive back on American soil!
 
The main point is to warn people ahead of time regarding where you will be and when.  When you are not around, its much better if you are accessible through one means or another too.

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March 6, 2011

Notary confidence

Filed under: Business Tips — admin @ 9:43 am

There is real confidence and there is a false sense of security. Many Notaries go through many stages in the evolution of their Notary confidence.

Complete beginners go through terror and a complete lack of confidence. They don’t know what to do. I remember being there back in 1998 and 1999. Those were the days. The solution is to take courses and get experience with companies who will babysit you. These days there are many companies ready to micromanage you. Treat it like a blessing.

Then there are those with a little experience who get too confident when they know very little. They boast about how dependable they are and their .0001% error rate. Both of these claims are completely unverifiable and anyone can make those claims making them not worth saying. But, the least dependable and least knowledgeable notaries tend to make the highest quantity of BS sounding claims. It is counterproductive to make these claims. Having a false sense of confidence is bad. It pays to be modest until you have some verifiable evidence that you are awesome.

Next, there are those that studied hard and mastered basic notary and signing concepts. They might have book smarts, but do they have life smarts? Many cannot function in real life situations and may or may not have good phone etiquette or business skills. In the notary business, those with masterful business skills tend to do well. Those who were successful in another career tend to transfer that success on over.

Finally, there are Notary Signing Agents with 5000 loans signed, and that have passed many different certification tests from different agencies. These Notaries can masterfully answer any notary question and don’t whine when you ask them technical questions to verify their ability. These Notaries realize how critical it is to verify their skill because these are the Notaries who clean up after other Notaries who are idiots who make a mess out of Acknowledgements, Jurats, and people’s loans.

A Notary who has Notary confidence doesn’t need to boast like the other novice Notaries. They have an air of confidence. They are more than happy to indulge you with even the most nit-picky and annoying of technical notary questions and give you the most professional answer without making it a point to inform you that they are, “very professional.” They routinely show up on time to all of their appointments and get documents back in a punctual manner without needing to inform you that they are, “reliable and dependable.” These Notaries show you how great they are with their behavior and question answering capabilities without all of the song and dance that the other Notaries give — always trying to show off and give you an answer five times as long as what you asked for so they can squeeze in more information that you didn’t ask for. Always doing a sales pitch is annoying and a sign that you have fake confidence. Someone with real Notary confidence knows it all, but doesn’t need to advertise it — it just shows. So, don’t be like these cheap sounding Notaries always boasting as much as they can and covering up for what they don’t know. Know your stuff, pass some certification tests, get some experience and be a signer with real Notary confidence!

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March 3, 2011

Mobile Offices from A to Z

Mobile offices and their advantages
 
One of our notaries in Maryland commands higher prices for his loan signing services due to his expertise in signings and also because he has a mobile office which facilitates last minute notary jobs and last minute quick changes to documents.  This notary has state-of-the-art equipment that comprises his mobile office in his pickup truck.  He has a scanner, regular sized printer, laptop, extra toner, paper, a special inverter, cables, a powerful alternator, and extra heavy duty fuses.  His internet connection is courtesy of Verizon Wireless Broadband.  Additionally, he considers it really important to have a really powerful battery because the equipment puts a heavy load on the battery.  Another interesting fact is that he uses a police squad laptop holder so he can work comfortably while in the drivers seat.   He prints by putting the printer in the back seat.  His wires are directly wired to the car’s electrical system instead of using a plug in that would go in the cigarette lighter.
 
What are the technical issues of a mobile office?
This notary started his mobile office in 2004.  He has lots of experience with mobile offices and the issues related to them.  He claims that someone with a regular car might not have enough battery or alternator power to handle the load of a laser printer.   He used to blow fuses to do overload, but learned that buying top of the line heavy-duty fuses and having a state of the art alternator he could handle the demands of the job.  Our Maryland notary public learned that it was not technically feasable to run a printer and laptop simultaneously using his mobile office.  So, what he does is to put the laptop on battery only while printing documents
 
Printing
With a mobile office, a signing agent can download documents while you are driving.  Imagine the time you can save multi-tasking.  Our Maryland Notary Public uses a regular sized printer without any issues.  However, the printer gets hot, so a firewall is necessary.  He uses wood covered by velcro to make sure that no fires are created when he places the printer on a seat or on the floor. 
 
How does this help his business?
You can get more money for signings having a mobile office because you can do last minute quick prints of last minute documents.  Imagine that the lender has a quick change to the Settlement Statement or other critical document.  No problem, it can be reprinted at the signing.  What if there is a quick name variation change, or change for a critical figure in the loan.  Again, this is easy to printout at the last minute.  Many loans have to be completely rescheduled due to the notary’s lack of equipment, but not if you have a mobile office!
 
What does it cost?
You could spend $2000-$3000 for a mobile office.  The inverter is about $100 and thats critical for good electrical flow.  Scanners and printers a few hundred each.  The biggest expense is the laptop, and those can run anywhere from $500 to $2000 per unit.

Tweets:
(1) One of our notaries commands a higher fee simply because he has a sophisticated mobile office!
(2) Having a mobile office is perfect in the “unlikely” event that a lender sends you docs late when ur on the road.
(3) You could spend up to $3000 for a really good mobile office. Don’t forget to start w/an inverter!
 
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Erica’s mobile office story

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February 25, 2011

Borrower etiquette from A to Z

Filed under: Comprehensive Guides,Etiquette — Tags: , — admin @ 10:16 am

Borrower etiquette from A to Z

A year or more ago I wrote a blog about notary etiquette from A to Z. The topic arose from a very interesting and detailed discussion about where it is polite to park. The discussion went on and on, and everybody made really interesting points! But, a discussion on NR broke out about borrower etiquette, and I’m surprised that I didn’t publish this topic first, since I love the topic of etiquette (even though I don’t have very good etiquetee myself). In any case, there are many points to consider in borrower etiquette — so, here they are.

PREPARATION

(1) Make sure you finish your meal and clean up your kitchen before the notary arrives. Make sure the smell of your cooking is somehow ventilated.

(2) Make sure you have communicated adequately with the LENDER before the notary arrives. You should be off the phone, and have listened to all of your messages before the notary arrives, especially messages (if any) from your trustworthy lender.

(3) Have all dogs, cats, snakes, birds, cockroaches, vermin, and other creatures behind a securely closed door at least 30 minutes before the signing — for good luck. Many notaries do not like dogs jumping on them. Additionally, if there is an angry or over-zealous dog in the driveway, the notary might be afraid to get of of his/her/their car.

(4) Tell your children not to come into the room of the signing. If they must come, then make sure they are quiet, dressed, and don’t make any sudden movements. Please find a way to deal with screaming babies too as that can be very distracting during a signing.

(5) The TV, radio, and all other noise should be silent during the signing so that people can focus and not make mistakes

(6) There should be a clean surface for the signing, preferably a dining room table. The ENTIRE surface should be free of any clutter and have been cleaned with 409, or Fantastic, etc., immediately prior to the signing.

(7) Make sure that all of the parties involved in the signing are there 30 minutes in advance and have their ID’s ready.

(8) Make sure you know what your rate and APR are supposed to be BEFORE the notary shows you the corresponding pages with that information.

COMMUNICATION

(9) Leave your outside lights on for night signings, so the notary can intuitively know which house to go to.

(10) It is polite and helpful to let the notary know where to park

AT THE SIGNING

(11) Offer the notary a drink right away. Most borrowers are cheap and inconsiderate — it takes them 30 minutes to figure out that, “Oh, did you want something to drink?” And then, they offer you tap water. Why not offer the notary something of a higher quality such as fruit juice, soda, or coffee? Unless you are so poor that you are dying of malnutrition, it is cheap behavior to only offer tap water.

(12) Keep drinks off the table. We have had in-depth discussions about spillage, and what happens when you spill your latte on the deed of trust. Check our forum and blog for older discussions on this topic. Keep the drinks on a chair, or an adjascent table.

(13) Don’t read documents for two hours. The notary came for a signing appointment, not a reading appointment. Your borrower’s copies are for reading. Behave in such a way that the signing will take 45 minutes or less. Read the key points, and the rest can be read on your own time.

(14) Don’t blame the notary for the faults of the lender doing the old bait and switch, or for other problems you have with the lender.

(15) Don’t make phone calls or leave the room during the signing except to go to the bathroom.

(16) Smoking during the signing shouldn’t happen. If it is a really long signing, and after an hour you need a smoking break, perhaps one quick smoking break might be reasonable.

(17) (State specific for MT and TN) It is poor etiquette to expose a gun or other weapon at the signing, or to discuss guns. Notaries usually don’t feel comfortable around guns — at least the notaries that I know!

(18) Don’t discuss politics, gender issues, or anything else controversial at the signing.

(19) Don’t have an argument with your spouse, kids, or anyone else at the signing.

(20) Sign your name as it is typed below the signature line — don’t argue with the notary about this. This should have been discussed with the lender a long time ago.

(21) Don’t make a fuss about being thumbprinted

(22) After it is all said and done, visit the notary’s page on 123notary.com and write a very glowing review about how wonderful and capable the notary was.

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February 24, 2011

Erica’s Mobile Office Story

Erica’s Mobile Office Story
 
Erica has been a full time mobile notary for 17 years in California’s central coast.  She enjoyed driving her BMW to signings, and the gas mileage was not that bad.  But going all the way up to Northern San Luis Obispo county and all the way down to Santa Barbara Couny, and then all the way up and down and up and down for e-document signings got to be ridiculous.  She said to herself, “I’ve been doing this business for a long time, and there must be a better way to do this”. 
 
A few years ago she decided that a mobile office was the way to do business.  That would eliminate all of the traveling back home each time she needed to print documents.  She could print on the road while driving and multi-task which would make her time work even more efficiently.  There was a particular vehicle that she had had her eye on for a long time — the Chevy HHR.  It was a cross between a SUV and a Hatchback.  But, its main feature was that it’s battery was in the BACK, making it easy to add an inverter and power strip.  This would allow her to have printers, computers and other equipment in the back receiving enough power to all function at once!!! 
 
Long distance travel
Although her BMW got better gas mileage than her new “truck”, she didn’t have to go all the way back home each time she printed docs using the truck!  Erica’s range was 120 miles up and down the coast, and many times she would have to go up and down multiple times per day when business was faster (in the old days).
 
The inverter
Initially, she wanted to get a generator, but thought it would be too loud for night signings.  But, then after she bought her more powerful vehicle, the generator was no longer necessary.  She started out getting an inverter on ebay for $79, but it didn’t have enough Hertz.  Then, she got serious and made a pilgimmage to Oxnard, California to get a heavy duty 2000 watt inverter for $129 which did the trick.    This inverter had enough power for all of her equipment.
 
Her equipment
Erica’s arsenal of equipment includes: (1) a netbook, (2) a three-in-one scanner, printer, and fax (3) HP Laserjet 2430dtn printer that prints a whopping 35 pages per minute! Wow! That’s the fastest I’ve ever heard about.  She has SIX of these and gets them for pennies on ebay, but they might cost up to $1000 in a store.  She get’s her toner for $20 on ebay which costs over $100 in stores.  The other things she stocks in her “truck” include extra legal paper, letter paper, toners for each weapon, staplers, tape, rubber bands, shipping supplies, post-it notes, and dozens of pens.  She also keeps an extra journal in her car just in case!
 
The warranty
Erica is a seasoned electronics customer and gets a square trade warranty whenever she buys something online.  Personally, I would go with the triangular one (to keep things simple), but the square one seems to be the industry standard.
 
More work capacity
The bottom line of this story is how Erica refined her operation to have maximum efficiency.  She can now accept last minute assignments.  And, by eliminating the back and forth, she can now do nine signings per day, when the maximum she was able to do in the old days was five.

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February 15, 2011

Cross-out happy; Not a good idea

Some lenders allow cross outs. Others will fire you after the first cross out. Some signing agent courses recommend that you cross things out without a second thought. Others don’t. Even our loan signing course teaches you to cross out wrong dates in the right to cancel document. But, if you work for Provident or other lenders who don’t allow cross outs — you’re fired! Gulp?

Don’t worry, just read the instructions. Many loans have an instructions sheet. If there is no letter of instructions, then ask before you cross, okay? Don’t assume that you can just cross anything out. First of all, remember the golden rule of cross outs. Don’t cross out unless: (1) you have permission and (2) it is a last resort.

What about the 1003? The 1003 loan application has endless wrong information. It is my personal belief that the clerks they hire are required to make endless mistakes — otherwise they will be fired on the spot. If they get your social security number right they will be laid off immediately, right? In any case, the 1003 is not binding in the loan, but has to be sent back signed. Borrowers whine endlessly about this carelessly prepared document. What is the solution? Cross out and initial? Hmmm. Not sure…

My take on the 1003 is that you will cost yourself 30 minutes of wasted time if you call your contact person about anything, so don’t call unless you really need to. Otherwise you will never get out of the signing. If the lender allows cross outs, you will not endanger your loan by crossing out in the 1003 or for wrong dates on the right to cancel. If the lender doesn’t allow cross outs, then don’t do it.

Trick question

Q. What is the only document the is in a completed loan package that REQUIRES cross outs?
A. Acknowledgment certificates require the notary to cross out the his/her/their, etc.

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