Posted by kathy/ca on 12/4/06 6:43pm
Msg #163834

CANCELLATIONS! I cant believe how many I have had. I got 2

calls today for sigings tonight, everything printed, both cancelled. This has been going on for the past couple weeks and most of the time it has been because the lender has misinformed the borrower on various issues. Is it just me or are you guys having this problem too?

Reply by LkArrowhd/CA on 12/4/06 6:48pm
Msg #163836

Re: CANCELLATIONS! Kathy I hope you get your print fee? n/m

Reply by kathy/ca on 12/4/06 6:52pm
Msg #163838

Susan, yeah me too, but how am I gonna make any $ at this

rate, even cut my Xmas shopping short and left the mall to get to my office to print the docs, ha ha. If this is my biggest complaint, wow, am I lucky!

Reply by DD/OR on 12/4/06 7:11pm
Msg #163842

Re: Susan, yeah me too, but how am I gonna make any $ at this

Kathy, I know what you mean. It's an occupational hazard.I did one a couple weeks ago the company owes me for. I went out once, sent signed docs back. The BO wasn't happy so I was supposed to go back out again with new printed docs. Right before I left, BO cancelled everything. Company owes me for 1st trip plus the printed docs for 2nd trip. Who knows if I'll get paid? Right now, I'm pursuing 3 companys for past payment.
Susan, I'm here. Today I got to try out our new payment policy. Fass called me awhile ago and offered me $50.00 for overnight. I was experimenting. I said 'No' at first, then I said I'll accept $50.00 if the BO pays when I get there. She declined. Sue, I was wondering, if we ask for our fee from the BO, wouldn't it have to be on the HUD so BO could be reimbursed. If so, how could we accomplish that?

Reply by LkArrowhd/CA on 12/4/06 9:03pm
Msg #163859

Re:DD/OR I'm making it crystal clear to all who hire me and

again this will not apply to the ss or titles that have a good pay history with me, I will continue to work for them under guidelines and rules as before as I have previously done.

Now Fass only occasionally calls and when they do it's let me see if I can get this approved, sometimes they call back, other times they don't but they have always paid me in less then 30 days and paid the fee I asked for, once they called back a second time but I don't do much work for them. I understand they want to pay lower fees and that is fine but I won't work for their fee. I can't control the fees companies pay and I can't control the notaries that work and accept 50 dollar signings....but I can control what I accept.

Now many ss or titles are not going to go for the new payment plan and that is fine, I'm prepared.

This is what I'm doing, the ss or title calls, I right away say, I'm implementing a new payment plan that you may not like but find of late I need to do something to prevent my not getting paid and or chasing dollars. I will accept your work order under these conditions, you and or LO will need to make it clear to the borrower, the notary fee(my portion only, the fee ss or title and I have agreed to pay me) needs to be paid upon my arrival, the notary fee is non refundable whether the loan closes, cancels, or simply doesn't fund. I printed, I drove, I arrived as scheduled, I witnessed signing, I notarized, my work is complete.

I can't tell you the times borrowers have ask do I pay you?

This must be made clear, I then follow up with my confirmation call and remind the borrower of my fee I will accept a check. Once completed borrower gets a receipt for my services and ss or title sent a receipt mark paid. I will see how it works......again as we discussed nothing to lose. And this loss will be less then ss or title not paying and taking them to court......

Now there may come a time when the borrower refuses to pay because they have decided to not sign after looking at docs and that will I guess be my loss. However in my area I have few of those.

DD/OR I began thinking about this more and more when I ran an ad and I got several calls for borrowers calling in their own notary for their loan docs, the loan docs came via FedEx directly to them and they called me to notarize the packet.

Also I have been getting calls from lawyers of late to do some work, they enclosed the check prior to the work being done, the more I did the more I liked working this way.
So this is what really got me in this mindset.

Now I do have a few select signings services I work for, no payment issues at all, I will take all I can get from them......they are wonderful!

But I have also been getting calls from sub contracting notaries, they don't make this clear up front but it's not rocket science to figure this one out and for the most part they will pay you as they please......if at all.

You know the routine, you get a last minute call, you either take or you don't and of late I have opted to not take it. So now I will implement this plan and they can either take it or not.

Reply by PL on 12/4/06 10:32pm
Msg #163870

I find your idea interesting, but the feds say in Reg z

d) Effects of rescission. (1) When a consumer rescinds a transaction, the security interest giving rise to the right of rescission becomes void, and the consumer shall not be liable for any amount, including any finance charge.

(2) Within 20 calendar days after receipt of a notice of rescission, the creditor shall return any money or property that has been given to anyone in connection with the transaction and shall take any action necessary to reflect the termination of the security interest.

The second part of this is fairly specific about who gets to keep their money and who doesn't and I don't see any wiggle room.

The website from which this comes is:
http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=964e4754718f8ae1863f12f8d0021b59&rgn=div8&view=text&node=12:3.0.1.1.7.2.8.13&idno=12

Reply by Elizabeth Soliday on 12/4/06 8:16pm
Msg #163852

Hey, me too, what's up with this?

I just printed my docs and they email that they are short funds.

Reply by DD/OR on 12/4/06 9:24pm
Msg #163860

Re: Hey, me too, what's up with this?

Hi Elizabeth, it looks like we're neighbors since we're both in Oregon.