Posted by Buddy Young on 1/25/12 10:52pm Msg #409888
Question
I've read posts here before talking about SS trying to get rich by offering low fees.
First of all, I don't work for the lowballers.
I check the notary fees on every loan I accept, and I've been seeing notary fees in the $125-$150 range. I've read posts here before stating notary fees of $200-$300. Am I missing something or are the SS fees seperate. I'm not defending any SS, just wondering.
I printed out docs tonight for a signing on Friday and the notary fees are listed on the HUD1 at $125. accepted the signing for $90 which is lower than I normaly charge because it's a SS that I work regularly for and they have always paid me fairly and quickly.
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Reply by ReneeK_MI on 1/26/12 6:12am Msg #409896
Must be a CA thing ...
I almost NEVER see a notary fee parted out on the HUD. I often wonder if those who post about $200-300 fees are looking at the Settlement/Closing fee (line 1102)?
Are you saying that in CA, they part out "Notary Fee" as a separate line item?
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Reply by HisHughness on 1/26/12 6:43am Msg #409897
I'm with you, Renee
The only times I will routinely see the notary fee specifically cited in on sales. Oherwise, it is quite rare. I actually prefer that; I don't want my fees advertised to borrowers.
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Reply by Lee/AR on 1/26/12 7:20am Msg #409899
Re: I'm with you, Renee
Rarely do I see it as a line item--usually lumped in with other fees. But I just had one from a nat'l TC yesterday where the HUD said "Signing Agent Fee" and the amount was what I'm being paid. I prefer the 'lump', but comments on this from B are rare.
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Reply by Dorothy_MI on 1/26/12 7:56am Msg #409903
I've started seeing it more
just this past month or so. They either list notary fee, signing fee or my name.
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Reply by Nancy L. Winninger on 1/26/12 8:29am Msg #409904
Re: I've started seeing it more
I've seen this recently as well; line item specified Notary Fee as ... which led the borrower to believe that was what I was actually being paid <which raised a few eyebrows>.
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Reply by Nancy L. Winninger on 1/26/12 8:30am Msg #409905
Re: I've started seeing it more
Correction: Notary fee listed as two hundred seventy five dollars ......
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Reply by janCA on 1/26/12 9:39am Msg #409910
Re: I've started seeing it more
I see it both ways. Recently as Signing Agent Fee, along with E-Doc Fee. Usually totals between $250-$300.
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Reply by ReneeK_MI on 1/26/12 4:29pm Msg #409954
Across the board, or one particular client?
I can't remember the last time I saw it parted out. Years ago, when "Notary Fee" was a line item, I'd see it now and then.
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Reply by Belinda/CA on 1/26/12 10:47am Msg #409917
Lately...
some HUDs have my name on them. "Notary Public Fee paid to Belinda Davis." Then the borrowers who pay attention want to know why I make so much. They don't understand we only get a piece of the pie in most cases. A couple of times my actual fee was listed but that is rare.
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Reply by Buddy Young on 1/26/12 11:01am Msg #409918
Sorry it wasn't on the HUD1, it was on another statement called the borowers statement.
I actually found it on 2 different statements in that package.
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Reply by MistarellaFL on 1/26/12 11:12am Msg #409921
"Most" Notary Fees Are Not NSA Related
They are on in-house closing HUDs too. They're just another TC fee.
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Reply by BrendaTx on 1/26/12 9:38pm Msg #409988
Misty - Yes! I think that when a SA fee is listed on a HUD
in the notary fee line, it is a mistake and it shows inexperience.
I believe that the legendary PAW Notary agreed with that. The notary fee would be the fee that a notary charges for 'notarizations' not the fee that a notary charges for signing agent services. That should be listed on another line, if at all. In my experience, the signing agent fee is wrapped up in line with a vague description that does not itemize what they are for. The amount is usually about $350-$1,000. The notary fee on line 1160 (?) should be about $60-$75, if at all. Back in the day, title companies did not charge for the notarizations. At least not in my experience. (Notary fee and courier service is usually one on top of the other.)
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Reply by Luckydog on 1/27/12 10:07am Msg #410029
Re: Misty - Yes! I think that when a SA fee is listed on a HUD
Most SS I work for give me 2/3, they keep 1/3 and I am fine with that.
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