Posted by Moni on 8/1/05 11:55pm
Msg #56324

getting paid

What is the protocol for getting paid when the loan does NOT fund? Should the notary be paid anyway?

Reply by bp/wv on 8/2/05 6:19am
Msg #56341

I feel you should get paid even if the loan does not fund. There is one exception though: If there is a notary error and the loan does not fund due to the notary error, then I would not expect payment.

Reply by DA/VA on 8/2/05 10:04am
Msg #56377

Yes, we should be paid if it is not a notary error (or a major notary error). However, I make SURE that is the case with the signing services that I work with. I make sure their policy is to pay the notary if the borrower does not show or if the borrower cancels or the loan does not fund. So, you should know the policy of whoever you work for.

Reply by Moni on 8/2/05 1:59pm
Msg #56444

Thank you for your input. There was no notary error, but being realatively new to the biz I wasn't sure if they all had to pay or could opt not too if the loan doesn't fund. I'll ask up front next time... thanks again!

Reply by Marie on 8/2/05 2:41pm
Msg #56451

Yes, the notary should be paid a trip fee.