Posted by JPG_CA on 7/4/05 4:00pm
Msg #49783

I dont see notary fee in the HUD-1

So how much is the borrower really get charged? I work mostly for SS but no fee in the settlement
statement.

Reply by Sylvia_FL on 7/4/05 4:02pm
Msg #49784

They don't always list a notary fee in the HUD. Sometimes it is in the "closing" cost.
So no way of knowing how much the SS is getting.
And as long as we are paid whatever fee we are asking for I don't worry what the SS is getting.

Reply by oldhippie_IL on 7/4/05 4:13pm
Msg #49785

Sometimes I see in the hud the notary fee. It is more than what I'm getting. What does that mean?

Reply by Sylvia_FL on 7/4/05 6:59pm
Msg #49796

Probably what they are paying the signing service

Reply by Paul2/FL on 7/4/05 7:17pm
Msg #49798

I agree with Sylvia. Aside from the curiosity factor, what does it matter what it says on the HUD or anywhere else regarding what the SS is getting as long as you get what you contracted for?

Reply by pa notary on 7/4/05 8:47pm
Msg #49804

I am not so sure of that, as I work for many title companies directly that charge $650.00 for me to go to the borrowers house. I do not get that kind of money and no ss was ever involved. My best guess is that they have people check my work etc and are charging for that. Also, I see that they charge maybe 20 to 40 dollars for a notary fee of which I do not get either!!!

Reply by Paul2/FL on 7/4/05 9:29pm
Msg #49808

Again, you are getting paid what you contracted for. If you think you deserve more then charge more. The SS/TC can charge whatever they want and remember they have overhead and other charges to pay for that you may not have. Maybe someone from a T/C or a SS can explain this better.

Reply by BeccaFL on 7/4/05 11:05pm
Msg #49812

Paul is right. The TC will have overhead that is included in the closing fee which will include working up the HUD, getting a funding number, and preping the docs for the post closing department...

Reply by LawrenceOK on 7/5/05 10:10am
Msg #49837

I agree with Becca and Paul2 for the most part, but what does it tell you when you see an SS listed on the HUD for $250, and all they are willing to pay a notary is $50. I will only do 50's if they are overnight and in my hometown and yes, I have seen this on the hud. I have also had calls from SS's that want to pay only $50 for a 100 mile 1-way signing. (get real) I also have overhead, maybe not as much as a TC or Lender. Just because I am a home based business does not mean I have low overhead. If I agree to a fee, I agree to a fee. But it still chaps my Butt to see that they are charging the clients three times more then what they are paying. I have said enough, could get on a roll and go on & on.

Reply by CarolynCO on 7/5/05 9:56am
Msg #49834

I don't usually even look at the fees on the HUD (i.e., notary fees). As Sylvia, Paul2 and Becca have already pointed out, as long as I'm getting my agreed-upon fee, and getting paid in a timely manner, then I'm happy. If you feel you want more money, then the time to ask for more money is in the initial call when accepting the signing.

Reply by Luci_CA on 7/5/05 9:02pm
Msg #49948

Remember in Southern California the figures on the HUD may be estimated and not the final or actual fee. As a signing agent, we never see the final HUD which is sent to the borrower at closing. On another note, I was contracted by a lender to do an appointment for which I charged $125.00 - this was over 45 days ago and still no payment. I wrote the borrower a letter with a copy of my invoice and when she called me back she said that they did indeed charge her $350.00 for the appointment. Interesting. I don't really care, but I hope their final closing statement did not show that $350.00 being paid to me! Some of the companies I work with pay me from their escrow fee or from their operating account and do not charge the borrower. So the HUD may not always tell the whole story.

Reply by CarolynCO on 7/5/05 9:17pm
Msg #49949

Re: I don't believe this was the appropriate thing to do

Luci_CA wrote *I was contracted by a lender to do an appointment for which I charged $125.00 - this was over 45 days ago and still no payment. I wrote the borrower a letter with a copy of my invoice and when she called me back she said that they did indeed charge her $350.00 for the appointment. Interesting. I don't really care*

I don't know how everyone else will feel about your statement, but I for one feel that you overstepped your bounds because you not only contacted the borrower, but you sent them a copy of your invoice. You were hired by the lender (I'm assuming it was a Signing Service and not a Title Company for the $125 fee) and your invoice has nothing to do with the borrower -- whether you sent it for payment, or whether you sent it for their own information.

If you do a Search, you will find posts regarding why it is wrong to work up a contract for the borrower to sign "just in case the SS doesn't pay and the borrower will be responsible for your payment." For the same reason this is improper, contacting the borrower and enclosing your invoice is worse, IMO.

I do, however, agree with you that the HUD may not always tell the whole story.