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Posted by Linda_H/FL on 5/19/19 8:28am
To answer your initial question, most RMs have a first and second mortgage and those must be recorded properly in order to establish proper lien position; first mortgage gets recorded first, second mortgage gets recorded second, thus establishing first and second lien position. Since you in LA are required to do recording, as you stated, this footnote is probably addressing that issue.
So, your fee structure and negotiations are going to require you to advise hiring party of this requirement imposed on you by your state and, if I were you, I'd get a copy of the statute regarding this requirement and keep it on hand to provide to any hiring entity. Your fee is going to have to reflect the additional work and out-of-pocket charges you will incur.
Also, you said - "Further compounding this matter is the fact that I live in the only Parish in the state that requires recording within 2 business days and recording costs $250 and up. The rest of the state allows for 15 days. " - this is something else you will have to make sure your hiring party is aware of.
My last piece of advice to you is don't believe everything that association tells you - they've been wrong more often than not. I'd find a more reliable source for reference re Louisiana real estate and notary law.
Good luck in your new endeavor.
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