I am going to have to reconsider performing any loan signings for Mortgage Connect. Today, I received this email notification.
"Dear Valued Partner:
The Mortgage Connect closing packages will now include the Signing Agent Errors & Omissions document. The document will allow Mortgage Connect to make updates to documents (outside of the acknowledgment(s)). Notification will be sent to all notaries advising that a change was made based on this document rather than contacting you for permission." Here’s an example of the copy of the document in question:
“Signing Agent Errors & Omissions Document”
"Prepared by: Mortgage Connect,
Borrower(s): Jane Doe Property
Address: 1234 Miller Street,
Coraopolis, PA 15108 Loan Number: 012345678
Order Number: 3333111
SIGNING AGENT ERROR AND OMISSIONS / COMPLIANCE AGREEMENT
The undersigned Signing Agent or Agents for and in consideration of the above-referenced Lender funding the closing of this loan agrees, if requested by the Lender or Closing Agent for the Lender, to fully cooperate and adjust for clerical errors, any or all loan closing documentation if deemed necessary or desirable in the reasonable discretion of the Lender or Closing Agent.
The undersigned Signing Agent or Agents agree to comply with all above noted requests by the above-referenced Lender/Closing Agent within 30 days from the date of mailing of said requests. Signing Agent or Agents agree to assume all costs including, by way of illustration and not limitation, actual expenses, legal fees and marketing losses for failing to comply with correction requests in the above noted time period.
The undersigned Signing Agent or Agents further grant Mortgage Connect, LP as the settlement agent or their designee and, or LENDERNAME as lender, authorization to correct all minor typographical or clerical errors including initials and, or dates discovered in any or all of the closing documentation required to be completed by the undersigned at settlement.
In the event this Agreement is exercised, the undersigned will be notified, and if requested by lender or borrower, will receive a copy of the document corrected on their behalf.
This Agreement may not be used to modify any terms of the loan and, or security instrument. This Agreement shall automatically terminate 180 days from the date of recording of the undersigned’s mortgage loan.
DATED effective this ___________ day of
(Signing Agent) _____________________
(Signing Agent) _____________________"
I am not comfortable allowing any company to make corrections to documents that has my signature or notarized without reviewing them first.
That isn’t flying with me and I will not sign it. Several of us have had a discussion on that document today and it would not be in compliance with the state ORC.
very true I got the same message I get lot of last minute cancellation or nsa takes thwe assignment and no show have done closing at 11.30 in night because notary did not show up at scheduled time and then I get this
Apparently Mortgage Connect has been experiencing a large volume of errors in their returned loan orders. Which is slowing down things for their borrowers.
Maybe if their offers weren’t so low then they would get SA’s that knew what they were doing. $30.00 for a signing out in the sticks is ridiculous. Unfortunately, there are newbies out there accepting these low offers and more than likely messing them up.
Thank you for sharing this!
A great lesson for brand new notary signing agents who are reading this forum – just because your hiring company is asking you to sign or to do something, doesn’t necessarily mean it is ethical or legal. And it is our duty to decline unlawful requests.
(And I am glad to hear the company eventually rescinded the request.)
Yes, they rescinded the E&O for signing agents, but I can’t trust them now. Not that I trusted them before with the low fees, but still. They have lost any credibility.
You nailed it! I’ve got a few that know better and offer me a reasonable fee but I still get these ridiculous low offers…3 hours driving…350 Page printing…$30.
I’m like seriously? I’m 1/2 mile off the road and won’t go to my mailbox for that. Do they know what equipment, office supplies, dependable vehicle, gasoline, repairs (maintenance & upkeep for all) & insurance for all…do they know the expenses? Of course they do. And the low ballers soon realize they aren’t being competitive, they are doing it for free and they are not getting offers because on inaccurate work and they move on. BUT THEN, there’s the next new one…$30 for a 150 mile trip and 200 pages. SMH.
Totally agree with you as I have gotten many many offers $20 for yes over 100 pages. I plug in a realistic much higher fee for our area, pages, drive time and they often assign to someone else willing to work for less.
Most don’t offer enough for me to drive out to my mailbox. I can stay home for what they offer! Why go in debt to say I did a closing? Not in this to do favors. If I had that kind of money you wouldn’t see me here!
I have noticed some company will not negotiate the price.we as a notary do the"leg work", with printing travel price gfor 2 hr. trip plus your time 80,90 dollars is insulating. These are the one I would low ball shoppers. That said, you get what you pay.
percent! 
