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Bancserv | What You Need To Know About Bancserv

The following article discusses the various facets of the Affidavit fraud and the convictions of several employees of Bancserv. In addition, the article also covers some of the legal issues surrounding the Mobile Notary who was recently removed from Bancserv’s approved list.

Affidavit fraud

If you are a mortgage aficionado, you have probably been the target of a number of scams. These include those involving the signing of your documents and/or those involving the delivery of your funds. Unfortunately, you may not have been the only victim. As a result, you may experience some form of adversity down the road. In order to minimize your losses, you should take the following steps.

First, you should close any accounts that have been affect by the scheme. You should also take the necessary measures to avoid any future occurrences. For instance, you should consider using your own escrow officer. Besides, you can get a better deal on your own compare to a third party. Next, you should consider hiring a competent attorney. Although it’s not easy to find one, a seasoned professional can help you navigate the waters and avoid any pitfalls. Finally, don’t forget to sign up for email notifications and alerts. This is one of the best ways to keep in touch with the people who are going to be handling your future financial transactions.

Conviction of bancserv employees

The federal government has recently announced a federal jury has convicted five former Banc-Serv employees in connection with the fabled Small Business Administration loan guarantee program. The indictment also alleges that Banc-Serv ripped off clients for nearly $5 million over the course of a decade.

The five indicted are: Nicole Smith, Michael Henson, Thomas Davidson, Ryan Slater, and Kelly Isley. Each defendant is charge with one count of the SBA’s small business administration loan program, along with two other lesser charges. Each defendant faces a maximum sentence of 20 to 30 years in prison. A sentencing date has yet to be set. As the name implies, the Small Business Administration’s loan guarantee program is a major source of funding for small businesses in the United States.

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Aside from the actual crime, the aforementioned indictments provide the government with a valuable resource, namely, a record of the activities of former and current employees of Banc-Serv. Aside from the aforementioned indictments, the government has been able to levy criminal fines against some of the company’s employees for their roles in the alleged fraud. In total, the government has secured more than $50 million in penalties. This is the largest fine impose by the government in the last eight years. While the monetary penalty may be less than the tens of millions of dollars that are paid out each year by the bankrupt Banc-Serv, the damage that this entrant caused to the SBA is likely incalculable.

Considering the countless shady practices and petty cash thefts that have tarnished the name of Banc-Serv over the years, it is no wonder that the federal government has sought to take a hard stance against them.

Mobile notary removed from bancserv’s approved notary list

A couple went to a mobile notary to sign their loan documents. The couple was marrie and both had previous experience working with the notary. The couple was give a loan document with errors, including a rescission period that was four days after the signing. They also received another loan document that had more errors. Their mortgage broker then chose to work with a different notary. After reviewing the loan documents, the wife discovered that the notary had not sworn her husband’s signature on the Notice of Right to Cancel. Her husband’s signature on the form was not a match for the other borrowers’ sign documents.

When they attempted to have the notice re-sent to the notary, they were unable to do so. It was only when they emailed it back to the notary that they noticed that the signature on the document was similar to the wife’s. While the notice was not an error on the notary’s part, the mortgage broker had already chosen to reject their file, and they would have to start over. As a result, the notary was remove from the Company’s approve notary list.

Bancserv has a comprehensive quality control process that includes a rating system for their notaries and an application process. The applicant is then test on their knowledge of notary laws and procedures, their experience as a notary, and their ethics. If they fail the test, they are remove from the list. There are also ongoing tests and review of notary performance. Notaries can be remove if they repeatedly make mistakes or fail to perform their duties properly.

Detail Of Application Process

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During the application process, a Notary Public is require to provide their name, email address, and phone number. In addition to this, they are ask to submit a copy of the document that they will be notarizing. These documents are check to ensure that they conform to statutory requirements. For instance, if a document requires the borrower to be present, the notary must have someone to witness the signature. Also, the notary must check the voicemail regularly.

On a daily basis, BancServ mobile notary services handle a variety of signing appointments. The company’s notaries are pre-screen and monitored for accuracy. However, when there is a problem with a notary’s work, the company’s compliance department handles the matter. Several factors are consider in the process, such as customer satisfaction, the agent’s performance, and the notary’s overall rating.

Using a company like BancServ is a great way to ensure that the documents you are signing are don so properly. But, it is important to keep in mind that even an approved notary can make mistakes. You can avoid this by taking a careful look at the documents you are requesting to have notarized. If there is a problem with the documents you are requesting to have notarized, contact the escrow administrator and/or the notary to discuss your concerns.

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