Posted by KKinNoCal on 6/30/08 11:47am
Msg #253663

I may be wrong

I am going to let the Secretary of State tell me. For the few companies that put in their confirmation that the notary does not get paid if the loan does not close-I think this may be in violation of notary laws or rules. How can you be a neutral witness if payment is dependent on the outcome of the transaction? The one company in question is not paying me for two grant deed i was sent out to get signed. I was not involved with the loan closing and now they are refusing payment because the loan did not close? So I sent a letter to the SOS and enclosed the company confirmation. It will be interesting to see the response-I will keep you posted.

Reply by ME/NJ on 6/30/08 12:18pm
Msg #253665

What a company owes you

If you went to a table and BO cancels after the fact, the company owes you what (your state allows you to charge) per notary act.

This is the main reason why they pay half the fee (it should cover all states legal notary fees)

So if your state allows $2.50 per act and you did 2 deeds, that would be a whole $5.00 bucks.

Good luck... It will cost you more to get the min legal fee per state.

Reply by davidK/CA on 6/30/08 12:51pm
Msg #253666

What I believe the company owes me

I believe that it is wrong for a signing service. lender or title company to contract with a notary/NSA to perform a complete loan signing at an all inclusive "package price"and then alter the terms of the contract and pay the notary/NSA less (or nothing at all) than was agreed to between the parties.

The notary/NSA fee includes not only the act of notarization of some certain documents but all the many other NSA things we do that are related to the signing. Are we going to have the signing service, lender or title company parse the value of each part of the complete project? So much for printing each page, so much for driving to the borrower's home and another fee for driving to FedEx to drop the documents, another fee for each notarization and a different fee for each of the other documents signed by the borrowers that have a date, and again a different fee for those documents signed without a date?

One could go nuts making those calculations. Nobody wants to do that, so we agree to a single fee for all the tasks necessary. That's what we should get paid, period.

Reply by SoCal Signing Co. on 6/30/08 4:04pm
Msg #253676

Re: What I believe the company owes me

the problem you face is what you agreed to do. If you agreed to the confirmation its a contract you have with them.
If it states you do not get paid if the file does not fund, you dont get paid.

NO ONE should agree to those terms EVER!
if a SS is in a legitimate business they have the resources to cover non funded files.

The state, can only ask about Notary Fees only, they do not deal with Signing agents fees.

Reply by KKinNoCal on 6/30/08 8:21pm
Msg #253712

Hi Lisa

Here is my question-as a notary we are suppose to be a neutral witness without an interest in the outcome of the transaction. In a situation like this we now have an interest in the outcome? Like a commission? Also-I WENT out and signed some deed for these folks. i had no involvement with the loan signing and they are telling me the loan did not close-so I get nada!! In my letter to the SOS I pointed out what i said above- that our fee is in jeopardy and it changes things and the notarynow has an interest in the deal?

Reply by CaliNotary on 6/30/08 10:19pm
Msg #253718

Re: Hi Lisa

"Here is my question-as a notary we are suppose to be a neutral witness without an interest in the outcome of the transaction. In a situation like this we now have an interest in the outcome?"

Pretty much, but that's the reality of the industry. And the reality of being a business owner is that you're gonna get stiffed occasionally.

Reply by KKinNoCal on 7/1/08 12:05am
Msg #253721

everyone complains about lowballs and then

roll over for no pays. I don't know about you guys. I would rather get a smaller fee then get cheated. The only companies that have stiffed me are the ones that have gone under. i got paid by all the flakes- LIA, One Touch Accusigning, and Getitsigned, The Final Step- I am a dog lover and when they try to stiff me i turn into a pit bull!!!

Reply by WDMD on 7/1/08 5:47am
Msg #253731

Re: everyone complains about lowballs and then




"Everyone complains about lowballs and then roll over for no pays. I don't know about you guys. I would rather get a smaller fee then get cheated. The only companies that have stiffed me are the ones that have gone under. i got paid by all the flakes- LIA, One Touch Accusigning, and Getitsigned, The Final Step".

If I worked for all lowball companies then yeah, I would be worried about the once in a blue moon no pay at $50. My profit margin, if any, would be near the break even point and I would have to have it.

But by working for title companies who pay a fair and profitable fee I can afford to let the occasional fee go because of borrowers cancelling, as they more than make up for it with their many profitable signings.