Posted by Cindy on 9/1/04 8:04am
Msg #7121

Docs go to table, dont get signed, notary charge?

I recieved a signing direct from a title company. Printed e-docs 1 set with borrower copies. They went to the table, but didnt get signed. Informed Title company, the told me to hang on to docs to see if lender/borrower could work things out, then go from there. If the loan cancels what should I charge the title company? In addition, if I go back with same docs, or new printed docs, (borrower wanted a fixed, loan was variable, so would have to print new docs) do I charge double since I have already went to the table once? and if I have to print a whole new set?
Any suggestions would be appreciated.
Cindy NSA Colorado

Reply by Butterfly on 9/1/04 8:26am
Msg #7123

I do charge for signings that cancel especially when the borrower was expecting a fixed rate and loan was an adjustable. If the Loan Ofcr. did not do his job, I make his company pay my bill in full. I also let the Title Ofcr. be aware that my bill is due on the Escrow just on the outside chance another Notary is called in to do the re-sign (if they do and do not call you or if you are not available) the next time. If they do call you back, I usually charge the edoc fee (if there is a new set) plus a trip charge (based on how close to home)plus the original fee. If you showed up to sign the borrower off and the set of docs are not what they were told they were going to be........it smell a little like fraud. The Broker for that reason is in a position to pay the fee regardless.

Or.... If this is a Title Company is a place you will be expecting a large amount of their business, just hang tight. Let things ride. Working for a Title Company is GREAT I make between $125 up to $350 per signing! Work with the Title Ofcr. side by side build a new business contact and ask for her business!

Reply by Cindy on 9/1/04 10:20am
Msg #7130

Thank you for your reply's. Yes Butterfly this is a Title CO and it was set for a $125 sign, so I dont want to burn any bridges, since I actually never get a Title Co signing call, just SS. Yes, the loan docs looked pretty fishy-expecially the origination fee-outrageously high. Anyway thats the lenders business not the Titles, so I do want to keep good with them, just wondering how to bill all of this since with a SS. I usually only get $25-$50 when there is a no sign, but print and travel.
Thanks
Cindy

Reply by PAW Notary Services on 9/1/04 9:15am
Msg #7128

I invoice for work completed. My invoice is broken into three items (sometimes more, sometimes less):

Witness Signing
Email doc printing
Travel

If the borrowers refuse at the table after starting the signing process, then all three steps have been completed and billed accordingly. If the appointment cancels before sitting at the table, but the trip was made, then are reversal of the signing fee is shown on the invoice. Same if the appointment cancels after printing the docs, but before the trip is made. If the loan is canceled within a certain time frame, a "cancellation" fee is added to make up for the loss of potential income.

Most title companies and lenders have not had a problem with this.

Reply by Brenda J Khan on 9/1/04 9:52am
Msg #7129

I recently had an incident like this, first trip out, borrower refused to even sit down, stated not tonight and slammed the door! I called ss, informed them, was told to hold docs, rescheduled for next morning, same docs, borrower cancelled appointment, rescheduled for following evening. Now I needed to print all new docs, go out 2nd time to borrowers home, was informed by borrower they had cancelled this appointment, I was not informed of this or my ss! I informed ss not to rescedule me for this same borrower, and charged for no sign trip $50,(half of my agreed upon fee of $100) and a reprint fee of $25. I did not charge for travel for second trip out to borrower as this ss does give me lots of assignments at good rates, that usually work out fine! Hope this helps! BK-FL