Another letter received via Certified mail today from Signing Service going out of business. Was going to reply to a previous post; however, I feel that this needs to be a separate one.
This is exactly why I want a law passed that we are put on the HUD/Closing Disclosure to ensure that we get paid for our services. The last time I posted this I got slammed by others that I/we can not speak for them and they don't agree with me. I am SO tired of doing a great amount of closings for a company with great past performance and a few new companies in a short amount of time (within a reasonable time period) and then have them just decide not to pay me or go out of business.
Signing services don't want us to be listed on HUD for obvious reasons. Many of them charge $200-$350 for our services and want us to do them for as little as $40. I know this because some of their fees are listed on CD and some accidentally sent invoices to me. If we are listed on the settlement statement, they wouldn't be able to justify to give the notary $40 while they collect $350 (as an example). The good ones could be listed as for example:
Great Signing Services $75,
Jane John Doe, notary $125.
The benefit would be for us. We would receive the money within days when loan funds.
I have some awesome Signing services with whom I work; however, have been burned way too many times by both title companies and signing services. The title companies were the ones that didn't have me listed on the HUD/CD just a lump sum listed as closing services.
Again, this is not aimed at the company I received the letter from today. I have done a lot of business with them (and did receive the letter). It is aimed at ALL that hire us.
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