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October 8, 2013

Interview with Title Source

Filed under: Best Practices,Loan Signing 101 — Tags: , , , — admin @ 11:06 am

Me: “Many of our notaries like working with you. Can you tell me why? What do you do that is so good?”

Zee: “Notaries are intrigued by our system, our technology. We try to put it in order in our edocs. About 95% of our closings will require notaries to print out. We get things done in a timely manner. Our website is easy to logon to and provide a service. We also try to give notaries work within their area– within 20 miles.

I do instruct notaries that they can contact our scheduling team and get them to the lender as needed if there is an issue at a closing. Someone is always available. I do ask notaries not to discuss any specifics of docs with our scheduling team.

We give notaries a score 1.5 to 3.5. 1.0 is the best. If they earn a good score they get more work or a raise. Their score includes completion time–including dropping the package at FedEx; quality of work: if there is a signature missing, that would be a defect. Confirmation-turn time is also important. The fee they charge is also part of that. A good fee for us is $65, and another $20 for edocs. A refi might be $90. I pay my national companies $125 for a signing; I would also pay that to a good notary. I have to have a loan assigned to a notary within 2 hours. I let the notary tell me what fee they want. I can’t guarantee them they will get many orders at, say, $125. But if I build you a profile today, I will put you at the top of the page. Our site will help you build your profile. There is no fee to do that. We call those who say $85 before those who say $125.

When we look on 123notary we may look by zip code or by city, but lately we are limiting the notaries to those who are NNA or Lexis-Nexis background screened. Those background screenings are the best.

We give instruction sheets. If there is something specific the client wants, we put it on the instructions.

We usually do not hire notaries who have fewer than 2 years of experience (fewer than 500 loans). We absolutely would hire a new notary with experience in a financial area. Any experience with the mortgage industry. Sometime real estate people have good experience. We close loans all over the country. We have a quiz or test that we give first if a notary wants to sign up– about 10 questions. You have to listen to something before– various questions about situations: they look at a video (2-3 minutes) and then answer questions. They have to get all the questions right. ”

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December 25, 2010

e-Documents Definition

Filed under: Signing Tips — Tags: , , , — admin @ 9:42 am

e-document definition 
 Documents that are sent electronically to the signing agent are called e-documents. There are a number of different common viewers necessary to view and print e-documents. Typically, a notary will receive documents and immediately need to print them and then go out to complete the signing with the borrowers. E-documents are typically sent at the last minute. Notaries typically charge extra to print out e-documents as it takes time, paper, and creates wear and tear on their toner or ink cartridge. E-documents have nothing to do with e-notarizations. An e-notarization is done purely online while an e-document signing is done with physical documents face to face with the borrower. E-signings are done with some of the documents being signed online. E-document signings are generally completed after the documents have been printed.
 

Issues with e-documents include the fact that a notary might have to go all the way home just to print documents.  Many companies send documents at the last minute and there are sometimes delays that add to the headache of doing a signing.  Some of our smarter notaries have mobile offices so they can print on the road while others have a kinko’s account so they can find a kinko’s near where they currently are to print documents on the run.

Here are some related posts you will like:

edocs – worth it or not
http://www.123notary.com/forum/topic.asp?TOPIC_ID=632

PLC-6 for edocs
http://www.123notary.com/forum/topic.asp?TOPIC_ID=19

“edocs”
http://www.123notary.com/forum/topic.asp?TOPIC_ID=3432

e-documents definition
http://www.123notary.com/glossary/?e-documents

Mobile Offices from A to Z

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December 19, 2010

e-Documents Information and Discussion

Filed under: Technical & Legal — Tags: , , , — admin @ 10:17 am

Should you always use legal paper for e-docs?
 
This topic started as a forum post about e-documents.  It was so popular and got so many responses, that I’m making it into a blog entry.
 
Many notaries have dual tray laser printers, while others have a single tray printer. Is it bad to use all legal size paper for printing loan documents while only some of the documents need to be on legal sized paper? Has anyone gotten complaints for using the wrong sized paper?

Additional reading about legal sized paper:
http://www.123notary.com/forum/topic.asp?TOPIC_ID=3576
 
Commentary from notaries 

crtowles
It is advisable to use legal paper if you dont have a dual tray printer. This way you dont cut off any of the legal size docs. The other problem with this option is that you will spend more on legal size paper than letter size paper. It is way more cost effective as well as more professional on your part with the companies you work for to use a dual tray. It is just best in the long run to just save and get a dual tray. Once it is set up it is a dream to print loan doc’s. Keep in mind if you dont have the money just yet it is still ok to print on legal size paper. Most companies usually dont mind.

 
PWinFL
Yes, printing on all legal may be a problem in some jurisdictions. Pinellas county (FL), for example, has switched to ALL letter size. That means the recordable documents, e.g., deeds and mortgages, must be printed on letter size paper. Otherwise there may be additional costs or the recording request may be rejected. Many other jurisdictions are starting the switch as well.  Some title companies and lenders are aware of this situation and may separate the recordables into another file so it can be easily printed on letter paper.
 
If a signing agent cannot print both sizes, then printing on all legal would be the preferred size. However, I’ve noticed it more often now that companies are asking if we have dual tray printing capabilities. So, not being able to support mixed-size printing may cause a loss in assignments, but I don’t think it’s too great a problem yet.
 
The problem with that is if the document is printed in the center of the page, then it is difficult to cut both tops and bottoms of the pages. Most of the time when that happens it is because one of two issues: (1) The documents are letter size but scanned to legal size – which means there is nothing the signing agent can do about it; and (2) the signing agent’s printer settings may be incorrect – which is something that can be fixed in many cases.

Renee
Agree, dual-tray is what a true professional would use. There really isn’t that much investment to make when you start-up a signing agent business, and at least one good work-horse laser printer with the ability to print letter & legal is a pretty slim minimum, IMHO.
 
MoneyMan TX
I have had some companies want all letter sized, others state any size, and others state print exactly as scanned in (letter or legal). Printing all legal can also create issues with certain lenders, I know it did when I was a loan officer.
 

Lisa T
A couple of times, I’ve been sent the edocs for a signing where the files were separated, one was letter size and the other legal size. I have two laser printers so I can load one with legal paper and print on that laser printer while at the same time printing the letter size file on the other printer.

I don’t know for sure, but I would guess that a TC should have a paper cutter and just cut down the specific legal size papers down to letter size. Who can tell the difference?
 
Lee-AR
In a word: No. Print to size if you can. Otherwise you default to legal. My experience has been that there are a very few companies who will include the instructions to either use all letter or all legal. Although, previous posters are correct, too.

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