Question: Are you a collection agency?
Answer: We are not a collection agency and we will not ask you for any payments. In fact, clients may authorize us to offer you money as an incentive to help us.
Question: Are you a law firm?
Answer: Although we have attorneys on staff and we work with many law firms, Ursus is not a law firm.
Question: Can I call your client to validate you are a legitimate company?
Answer: Absolutely, just ask your representative to provide you a number to call.
Question: Why is Ursus contacting me instead of the title company that I closed the loan with?
Answer: OMany times we do work with your local title company in fixing the problem. However, often these companies are no longer be in business or changed ownership. Additionally, depending on the type of title problem, they may not be in a position to help.
Question: I am with a new lender… so this has to be a scam. The loan was service released.
Answer: This is not a scam. We are not seeking money from you. In the mortgage industry, when a mortgage is transferred to a new lender, the old lender is often still responsible for fixing the title problem if they knew about it. The new lender will want this to occur as well because it is the prior lender who is paying for the resolution.
Question: Can URSUS arrange for a notary to come to my home or office so I don’t have to find one?
Answer: Yes, URSUS will make the necessary arrangements for notary services.
Question: Do I need to have my documents notarized?
Answer: When a notary is required, a Notary section will be indicated on the document(s) you are provided. Ursus will also advise you when a notary is required.
Question: Do I have to pay a Notary to notarize the documents?
Answer: No, you will not pay any notary costs out of pocket as URSUS will make the notary arrangements and coordinate payment of notary services directly with the notary.
Question: Can I be reimbursed for the overnight mail service I used to send the package back?
Answer: URSUS will provide prepaid overnight mail service envelopes and shipping labels to you so no out-of-pocket expense on your part is necessary.
Question: If I’m late on my mortgage payment, can URSUS help me get a loan modification?
Answer: URSUS only assists with curing title issues. Please contact your lender for more information on loan modification services.
Question: Will URSUS take my mortgage payment or is URSUS seeking a payment from me?
Answer: No, URSUS does not collect or seek mortgage payments. Please contact your lender directly for payment options.
Question: How long does it take your client to sign and documents?
Answer: Usually less than 30 days.
Question: Why is this issue just coming up?
Answer: Many lenders are undergoing audits of their portfolios and with millions of loans that process takes time. As they find document deficiencies, they hire us to fix them.
Question: Do I need an attorney to handle this?
Answer: You are certainly welcome to consult an attorney and we are happy to discuss the situation with that attorney as well. We find that the process is easier if another lawyer is involved to help explain the situation.
Question: How long does it take for documents to be recorded?
Answer: That varies greatly by county. Some counties take less than a week, others are many months behind. If you are concerned about the timing of the recordation, please notify your URSUS representative and we can try to expedite the process or find a solution that helps you.
Question: Does signing documents obligate me to this loan?
Answer: That would greatly depend on what you are signing and your URSUS representative can better explain your particular circumstance. In most instances when we hear this question it is from a prior seller of the property and we need them to execute a new transfer deed as the original one is lost so there is a gap in the chain of title. This does not obligate the prior seller on the new loan.
Question: What can happen to me if I do not sign?
Answer: That depends on the facts and circumstances of your individual file. If we can’t convince you to help us then the lender will normally file an insurance claim with the title company who was involved with your loan closing. Once an insurance claim is filed, then the clients have little control over what happens and most of the time the insurance company will retain a lawyer to initiate litigation on the issue. The litigation is normally just an attempt to clear up the title problem and get an order from a Court clearing up the issue, but may require you to attend hearings or answer discovery requests. Obviously, our clients do not want their consumers to go through this process so they hire us to try and avoid those circumstances. Our clients would rather take a loss by paying us to fix the issue than have their consumers subject to possible litigation from the insurance companies.
Question: Can I make comments on your website?
Answer: While we do not have a comments section, we welcome you to submit any comments or concerns to firstname.lastname@example.org@ursusadvisors.com. Please include your reference number in the subject line.