Changes to RESPA
As you have likely read the Department of Housing and Urban Development (HUD) made changes to the Real Estate Settlement Procedures Act (RESPA) that are intended to make it easier for borrowers to understand the settlement process.
Here are some important changes taking effect 1-1-10. It establishes a standard 3 page Good Faith Estimate (GFE). Limits the fee associated with the GFE to the cost of the credit report. Establishes a 3 page HUD, with the 3rd page for the borrower to compare estimated charges from the GFE to the final charges from the HUD. Also Eliminated the 1% cap on FHA origination fees.
If you would like additional information on this topic here is a link,
http://www.hud.gov/offices/hsg/ramh/res/respa_hm.cfm
Sincerely,
Lisa Scanlon, CSA
941-447-7130
www.scanlonsigningservices.com
Wednesday, December 16, 2009
Friday, November 13, 2009
Notary Signing Agent Safety Tips
Safety tips for Signing Agents
As a Certified Signing Agent I would like to share some of my tips with you to help guide new agents through a safe and successful signing. You may ask why would I need safety tips, but if you are traveling to rural areas late at night or sometimes it could be the house around the corner you may find yourself in a precarious situation. Sometimes borrowers may have alot riding on that particular transaction going through. Here are some things that would stop a signing in its tracks. In-valid forms of identification, one spouse forcing another spouse to sign, or wanting to sign for the absent spouse, an elderly person being forced by another family member to sign a document they cant physically sign or don't understand.
You may be able to deter some of these situations by confirming ahead of time the type of identification required, and who needs to be present to sign the documents.
You may be pressured by the signers to perform an illegal notarization but you must follow your notary laws and code of ethics.If you need to terminate the signing handle with care. Here are some tips to keep you safe:
1. Always leave a log sheet at the office showing the addresses you will be at that day and make sure someone knows where you keep it.
2. Have your cell phone with you at all times.
3. When you arrive at the signing be aware of your surroundings, take note of all exits, dogs, other people in the house.
4. If at anytime you need to stop the signing ,call the company that hired you to confirm you halted the signing and if you need keep them on the phone with you while you vacate the property. They can alert police if you need help.
5. Check with your state laws first and if allowed carry pepper spray or some form of legal self defense.
I hope these tips are helpful.
Sincerely,
Lisa Scanlon, CSA
941-447-7130
www.scanlonsigningservices.com
As a Certified Signing Agent I would like to share some of my tips with you to help guide new agents through a safe and successful signing. You may ask why would I need safety tips, but if you are traveling to rural areas late at night or sometimes it could be the house around the corner you may find yourself in a precarious situation. Sometimes borrowers may have alot riding on that particular transaction going through. Here are some things that would stop a signing in its tracks. In-valid forms of identification, one spouse forcing another spouse to sign, or wanting to sign for the absent spouse, an elderly person being forced by another family member to sign a document they cant physically sign or don't understand.
You may be able to deter some of these situations by confirming ahead of time the type of identification required, and who needs to be present to sign the documents.
You may be pressured by the signers to perform an illegal notarization but you must follow your notary laws and code of ethics.If you need to terminate the signing handle with care. Here are some tips to keep you safe:
1. Always leave a log sheet at the office showing the addresses you will be at that day and make sure someone knows where you keep it.
2. Have your cell phone with you at all times.
3. When you arrive at the signing be aware of your surroundings, take note of all exits, dogs, other people in the house.
4. If at anytime you need to stop the signing ,call the company that hired you to confirm you halted the signing and if you need keep them on the phone with you while you vacate the property. They can alert police if you need help.
5. Check with your state laws first and if allowed carry pepper spray or some form of legal self defense.
I hope these tips are helpful.
Sincerely,
Lisa Scanlon, CSA
941-447-7130
www.scanlonsigningservices.com
Monday, August 3, 2009
Home Valuation Code of Conduct
HOME VALUATION CODE OF CONDUCT
This new code took effect May 1, 2009. It was drafted by the office of Andrew Cuomo New York attorney general. The critics of the HVCC including the National Assoc. of Realtors are gearing up for a fight in congress, requesting an 18 month moratorium.
This new code is linked to raising appraisal costs to consumers, use of inexperienced appraisers who are not familiar with specific neighborhoods, delays in closings or cancelled sales. The intent of this code was good but the cost of appraisals has increased and the quality has dropped.
I will keep you updated on this issue.
Sincerely,
Lisa Scanlon, CSA
www.ScanlonSigningServices.com
941-447-7130
follow us on twitter
This new code took effect May 1, 2009. It was drafted by the office of Andrew Cuomo New York attorney general. The critics of the HVCC including the National Assoc. of Realtors are gearing up for a fight in congress, requesting an 18 month moratorium.
This new code is linked to raising appraisal costs to consumers, use of inexperienced appraisers who are not familiar with specific neighborhoods, delays in closings or cancelled sales. The intent of this code was good but the cost of appraisals has increased and the quality has dropped.
I will keep you updated on this issue.
Sincerely,
Lisa Scanlon, CSA
www.ScanlonSigningServices.com
941-447-7130
follow us on twitter
Monday, July 20, 2009
New guidlines for Truth and Lending disclosure statement
New Guidlines for Truth and Lending disclosure statement (TIL)
The Federal Reserve has approved new guidelines for the Truth in Lending (TIL) disclosures effective July 30,2009.
Now there is a 7 business day waiting period from the time the initial TIL is issued to time of closing. If the final TIL does change then there is an additional 3 business day waiting period until close. If the new TIL is mailed the waiting period is 6 business days. Also prior to the issuance of the 3 day disclosures only a credit report fee can be collected.
A new statement will be added to the initial and final TIL "You are not required to complete this agreement merely because you have received these disclosures or signed a loan application"
These new guidelines apply to purchases and re-fi's.
I will keep everyone updated on this issue.
Sincerely,
Lisa Scanlon, CSA
941-447-7130
www.ScanlonSigningServices.com
The Federal Reserve has approved new guidelines for the Truth in Lending (TIL) disclosures effective July 30,2009.
Now there is a 7 business day waiting period from the time the initial TIL is issued to time of closing. If the final TIL does change then there is an additional 3 business day waiting period until close. If the new TIL is mailed the waiting period is 6 business days. Also prior to the issuance of the 3 day disclosures only a credit report fee can be collected.
A new statement will be added to the initial and final TIL "You are not required to complete this agreement merely because you have received these disclosures or signed a loan application"
These new guidelines apply to purchases and re-fi's.
I will keep everyone updated on this issue.
Sincerely,
Lisa Scanlon, CSA
941-447-7130
www.ScanlonSigningServices.com
Tuesday, June 9, 2009
Notary Signing Agents can help prevent mortgage fraud
With all of the mortgage fraud cases surfacing latley, some of these could have been prevented if an experienced Notary Signing Agent was used. I have heard of several cases where the borrowers were not informed of all of there loan terms. It is my job as a Certified Signing Agent to make sure that the borrowers understand there loan documents and if there are any questions I can not answer the loan oficer is called.
When I arrive at a signing one of the first steps I take is to go over all the important terms to make sure it is what the borrower has agreed to. We check the loan amount, funds I am to collect, the interest rate, whether it is a fixed rate loan or an adjustable rate, any prepayment penalties, payment amount and any escrowed items. If everything is correct then we proceed with the signing.
I heard that some states have tried to bar notary's from performing loan signings, but I think this would be a terrible mistake. I get paid whether the borrowers sign the documents or not so I would not loose hundreds or thousands of dollars just because the loan fell through.I One of my primary roles is to make sure the borrowers understand there loan terms.
I think Certified Signing Agents should be used for all loan transactions. Most of us take pride in the role we have and I know I take it seriously.
Lisa Scanlon, CSA
941-447-7130
www.scanlonsigningservices.com
scanlonsigningservices@yahoo.com
follow us on twitter
When I arrive at a signing one of the first steps I take is to go over all the important terms to make sure it is what the borrower has agreed to. We check the loan amount, funds I am to collect, the interest rate, whether it is a fixed rate loan or an adjustable rate, any prepayment penalties, payment amount and any escrowed items. If everything is correct then we proceed with the signing.
I heard that some states have tried to bar notary's from performing loan signings, but I think this would be a terrible mistake. I get paid whether the borrowers sign the documents or not so I would not loose hundreds or thousands of dollars just because the loan fell through.I One of my primary roles is to make sure the borrowers understand there loan terms.
I think Certified Signing Agents should be used for all loan transactions. Most of us take pride in the role we have and I know I take it seriously.
Lisa Scanlon, CSA
941-447-7130
www.scanlonsigningservices.com
scanlonsigningservices@yahoo.com
follow us on twitter
Tuesday, May 19, 2009
Why choose Scanlon Signing Services
Why should I choose SCANLON SIGNING SERVICES
Why choose Scanlon Signing Services?
What sets us apart from other mobile notary
and loan signing company's? I would like
to discuss all the reasons new and
existing clients should always choose
my company over all others.
Sincerely,
LISA SCANLONSCANLON SIGNING SERVICES941-447-7130
Why choose us for your Loan Signing Requests
Tired of Signing Agents who are not professional, late, or who do not dress appropriately. I understand that I represent you and your company and always want to give the best impression possible. Most of the time I am the only person the borrowers actually meet face to face.
I always promptly confirm with the borrowers and go over anything I am to collect, such as copies of id's ,cashiers checks, and any documents. Special instructions are carefully reviewed and followed. All documents in each package are fully explained to the client and if there are any questions I can not answer, the title company is immediately contacted. Any fax backs are promptly sent and packages are always dropped off on time.
I make sure the borrowers are happy and have no questions before I consider the job complete. I believe in going that extra mile for you. Together we can make an awesome team.
Why Choose us for your field inspections
Tired of field agents that you can not rely on or who are not professional. We take our field work seriously. We don't just leave letter on front door and consider it done. We will canvas the neighborhood to find your collateral or to verify occupancy. Photos of collateral are always taken. If contact is made with borrower we always handle with care and respect.
I would like to thank all of our existing clients and if you have not given my company a chance yet please try us out I guarantee you will be satisfied with our services.
Lisa Scanlon SCANLON SIGNING SERVICES
2009 18th ave westBradenton, Florida 34205SCANLON SIGNING SERVICES941-447-7130
Why choose us for your loan signing requests.
Join us
You can now follow us on facebook and twitter
Why choose Scanlon Signing Services?
What sets us apart from other mobile notary
and loan signing company's? I would like
to discuss all the reasons new and
existing clients should always choose
my company over all others.
Sincerely,
LISA SCANLONSCANLON SIGNING SERVICES941-447-7130
Why choose us for your Loan Signing Requests
Tired of Signing Agents who are not professional, late, or who do not dress appropriately. I understand that I represent you and your company and always want to give the best impression possible. Most of the time I am the only person the borrowers actually meet face to face.
I always promptly confirm with the borrowers and go over anything I am to collect, such as copies of id's ,cashiers checks, and any documents. Special instructions are carefully reviewed and followed. All documents in each package are fully explained to the client and if there are any questions I can not answer, the title company is immediately contacted. Any fax backs are promptly sent and packages are always dropped off on time.
I make sure the borrowers are happy and have no questions before I consider the job complete. I believe in going that extra mile for you. Together we can make an awesome team.
Why Choose us for your field inspections
Tired of field agents that you can not rely on or who are not professional. We take our field work seriously. We don't just leave letter on front door and consider it done. We will canvas the neighborhood to find your collateral or to verify occupancy. Photos of collateral are always taken. If contact is made with borrower we always handle with care and respect.
I would like to thank all of our existing clients and if you have not given my company a chance yet please try us out I guarantee you will be satisfied with our services.
Lisa Scanlon SCANLON SIGNING SERVICES
2009 18th ave westBradenton, Florida 34205SCANLON SIGNING SERVICES941-447-7130
Why choose us for your loan signing requests.
Join us
You can now follow us on facebook and twitter
Wednesday, April 29, 2009
Scanlon Signing Services goes Green
Scanlon Signing Services believes deeply in not wasting materials, re-using, and recycling. We want to keep the planet clean for our children. Therefor we donate all our used toners cartridges to the local performing arts school for recycling and all of our shredded documents are donated to the local animal rescue center for animal bedding. There are always places within your community that are in need of the things we just throw away, seek them out and you will be suprised how many organizations are in need. You will be doing your part to help the planet and your community.
I have also obtained my electronic notary seal and laptop for paperless notarizations and loan closings. Its the future of secure documents.
I have also obtained my electronic notary seal and laptop for paperless notarizations and loan closings. Its the future of secure documents.
Lisa Scanlon
941-447-7130
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