CMO40 Document Retrieval

Signing Service 411
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For the third time today, a certain signing service is posting a job offer on SnapDocs saying Type: CMO40 Document Retrieval; approximately 12 pages; required scan backs; and offering a whooping $25 for this “Opportunity” (yeah, right :frowning_with_open_mouth:)

My question: What is a CMO40 Document Retrieval? TIA!

BTW, nope. Didn’t even bother to counter-offer.

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Sounds to me like it’s just a clever/sneaky way of not letting you know what you got yourself into…for 25 whole bucks.

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CLO appears to be mortgage-speak for Collateralized Mortgage Obligation also known as Collateralized Loan Obligation I think… I had to Google it LOL
https://www.rocketmortgage.com/learn/collateralized-mortgage-obligations#:~:text=A%20collateralized%20mortgage%20obligation%20(CMO,to%20investors%20called%20a%20security

12 pages or not, we still have to print 2 copies, drive there, present the document(s), execute/notarize, and then do scanbacks, and return originals. All for $25? It would be a hard pass for me too.

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Thank you for that info, Carmen! I was only Googling CMO40. With your info, I went a little further and searched CMO40 REAL ESTATE and came up with more explicit information. To wit: What Is CMO? A Popular Mortgage Option Explained | Real Estate News & Insights | realtor.com®

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I remember these from my time in mortgage banking. This is regarding loan that are sold on the secondary market.

For instance, your original lender is ABC company, then a while later, you receive a letter advising that your new loan servicer is DEF company.

This is because your loan was sold to a new investor on the secondary market.

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I’ve got those a couple of times just recently, I am in Oregon. I just too far on one, the other I just ignored, especially when I saw the $25 offer.
Thank you to whomever looked it up!:blush:

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Awesome! One thing for sure in this business is the opportunity to LEARN new things. Love it! :wink:

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I actually accepted a signing from this company, it was close enough to my proximity. This is what they described it as in the signing order:

"Our clients are involved in a nationwide Taxotere (chemotherapy drug) hair loss case. The judge is requesting additional documents from our clients. It is your job to reach the client and set an appointment, meet with client, and get these documents signed. Print the attached documents and take them with you to the appointment.

You are the only notary that is assigned to this case. It is your task to call and make an appointment with the client. These documents and photos must be signed and delivered back to us in a timely manner. If the client does not answer your call, go directly to the address given and door knock. Please see notes below for the call script. If you’re unable to reach the client by phone, immediately do a door knock.

INSTRUCTIONS AND TASKS - READ CAREFULLY. FOLLOW ALL INSTRUCTIONS.

  1. Willingness to Participate Certificate – print and take with you to the client; client will initial blanks that require initial, and printed name, signature and date on the areas provided – TO BE SCAN BACK AFTER THE APPOINTMENT

  2. Expert Medical Declaration Form – bring this form and leave it to the client, they can call our office later to get further instructions on what to do with this form.

  3. CMO40 – PRINT AND GIVE TO CLIENT – LEAVE IT TO THE CLIENT

  4. DEATH CERTIFICATE – ask if the signer/ executor has a copy of it, if not available, they may send it later via email, tell them to contact our office

  5. PROBATE DOCUMENTS (Letter of Administration / Letter of Testamentary) – ONLY IF AVAILABLE "

And yes, they are asking too much for just $25 vendor pay. It’s a total pkg of 7 pgs, but I’ve always been leery about door knocks without speaking to signer. Thinking about canceling.

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