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  1 person liked this post.
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BobbiCT
Connecticut
135 Posts |
 Posted - 09/22/2009 : 05:05:39 AM
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Great job!
Now remember each time you use their office to bring a box of doughnuts (morning), chocolates or other "thank you" treats as you notice what the title company employees prefer.
Bobbi in CT |
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vwarren
Texas
11 Posts |
Posted - 09/21/2009 : 11:23:06 AM
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| I've been granted use of a title company's conference room for free! |
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BobbiCT
Connecticut
135 Posts |
Posted - 08/19/2009 : 05:34:13 AM
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"I can see the reason for it but since it's a requirement, I think it ought to be up to the lender or LO or SS to find an office for you to meet with their borrowers."
The lender assumption is that by requiring closing in a law or title office there is an Attorney or Licensed Title Agent available to answer any of the borrower's legal questions. Problem later on, Lender response: #1 YOU, the borrower, should have asked the attorney or title agent whose office you were closing in and #2 Blame the attorney or title company for not helping you (i.e., complain about them to the Texas Attorney General, not us the "innocent" lender - you made the choice of location and you didn't direct your questions to them).
I agree lenders or signing schedulers should find the office - resulting in attorney/title company wanting to close the loan at XX fee. They're not in the business of renting short term office space (PIA for bookkeeping purposes, too - and possible local building and zoning permit issues). It is Far CHEAPER to make a non-attorney signing agent do the work and pay the bill. Sadly, any complaints will logically result in "only an attorney or licensed title agent can 'close' HELOCs in Texas" rather than the current loosey goosey "in office" requirement.
Bobbi in CT |
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LindaH
Florida
1754 Posts |
Posted - 08/18/2009 : 5:27:11 PM
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quote:
Originally posted by vwarren
Thank you for the verbiage, LindaH! I've contacted several title companies and none are interested in leasing desk space.
Actually, you may want to reword your presentation...you're not leasing desk space...you're requesting the use of their conference room for an hour or two for a mutually agreeable fee for a HELOC (or whatever) signing as required by Texas law. You'd might throw in the possibility of a long-term arrangement for any signings that come up in the future.
I agree with Bobbi, though...you're basically taking money OUT of their pockets - you're paying them but nowhere near what they'd be paid if they did the signing. Personally, I think that requirement in Texas really stinks...I can see the reason for it but since it's a requirement, I think it ought to be up to the lender or LO or SS to find an office for you to meet with their borrowers.
My opinion, as usual.:)
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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vwarren
Texas
11 Posts |
Posted - 08/18/2009 : 4:42:27 PM
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Thank you for the verbiage, LindaH! I've contacted several title companies and none are interested in leasing desk space.
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vwarren
Texas
11 Posts |
Posted - 08/18/2009 : 4:40:34 PM
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WOW! This is an eye opener! Thank you for your response, Bobbi! I am schedule to talk with a lawyer; I'll update the thread with the results of the meeting.
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BobbiCT
Connecticut
135 Posts |
Posted - 08/18/2009 : 10:20:08 AM
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I'm not Carmen or from Texas, but I've worked in law firms and with attorneys for many years. Not to discourage, but here's a few things the managing attorney will or should consider when you make your request.
1. Liability: Most lawsuits against notaries use the deep pocket theory to get to the "owner" of the business that the notary (or signing agent was sitting in); i.e., the law firm allowed you to use their office and you paid rent, although not an employee, there may be a "responsibility" risk. Last year's CT lawsuit against an "independent" immigration paralegal pulled an attorney in as a defendant party (with a deeper pocket) and succeeded because the attorney had used the paralegal for some of his work AND allowed the paralegal to work unsupervised within the confines of his "office."
2. Confidentiality. A BIGGIE at law firms. Lawyer has to make sure you have NO access to his files, anything left out on anyone's desk, computers and that you cannot overhear anything that is being said by anyone within the firm - clients or employees. If it's a family law office, there are times when the clients do not want to be seen. (Worked in a firm where we had a separate door on a separate floor of the building for clients who did not want anyone to know they were going to see a divorce/litigation attorney until after the lawsuit was brought.)
2. Malpractice. If the lawyer has to have his name on anything to do with YOUR loan signing, his malpractice insurance will be 100% on the hook (or not if there's an exception clause, in which case it's the attorney's personal assets at stake). The attorney may want more upfront than you want to pay in the event something in the future goes bad (think Ameriquest and Countrywide).
3. Competition. If it weren't for the likes of us non-attorney signing agents, the lawyer would have more income. You need to find an attorney who doesn't want this income; i.e., an attorney who doesn't use a staff person on salary for real estate closings and doesn't want all the real estate closing income.
I wish you luck. It may be very easy for you to find an attorney to agree to rent you a room. I just want you to be aware of the downside considerations. Let us know if you find a Texas attorney willing to share - maybe semi-retired who doesn't want any real estate business.
Bobbi in CT |
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LindaH
Florida
1754 Posts |
Posted - 08/18/2009 : 09:38:11 AM
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I'm not Carmen...but....I'll give it a go...
First off, I don't think it's up to you to come up with a reasonable fee to pay someone else for the use of their office space...it's up to the individual office to let you know what they charge for the privilege of using their space and possibly their facilities.
Second, I'd call some local law firms or title companies, ask to speak with the office manager or managing partner, and just put it out there...I'm a signing agent in <area you cover>....I'd like to know if you allow signing agents to use a room in your office for loan signings pursuant to Texas law and, if so, what is your charge for use of that room for 60-90 minutes (or however long you think you'll need it)? Or something like that...
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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vwarren
Texas
11 Posts |
Posted - 08/18/2009 : 06:12:39 AM
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Hi Carmen, In Texas, HELOCS must be conducted in a law or title office. Do you have any suggestions on how to figure a reasonable desk rental? And how should I approach a title or law office with this type of proposal?
Thank you! |
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Renting Desk Space At Law/Title Office
