The proposed signing is a reverse mortgage application with approximately 275 pages. Newcomer Escrow indicated that if the loan doesn’t close for any reason, the loan officer will be responsible for the signing fee. As you might have guessed, I refused the signing based on the terms of payment. As enticement for me to accept the signing, Newcomer Escrow agreed to be responsible for payment.
Not being one to pass up an opportunity, I pointed out that notary services were contracted with Newcomer Escrow, and payment should be made accordingly. In my opinion, Newcomer Escrow is responsible to pay for the services they contracted, and the loan officer should pay Newcomer Escrow. The business arrangement with the loan officer is their own agreement, separate from my own, and one is not related to the other.
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