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Posted by Kay/IL on 7/22/11 10:04pm
I've been very fortunate that the companies I work with have been fair with no-show/no-sign borrower situations in that they pay at least trip and print fees. This is indeed owed in part to NR's Signing Central ratings of signing services, title companies, etc. and companies who want to maintain good vendor relationships with their notaries. From my experience, signing services will pay at least a trip and print fee for your time. Just discuss it with them. If they refuse, chalk it up to experience and never accept another signing from them. But next time, with any new company, ask them what their policy is on no-show/no sign borrowers and get it in writing.
According to your profile, you have been a signing agent for a number of years. I'm not sure whether you do this already, but one suggestion I learned from reading this board is to start your closing with the "money documents" (note, HUD, mortgage/deed of trust, RTC, TIL, Itemization of Amount Financed) on top of your stack. That way, if there are any issues with the loan amount, interest rate, settlement charges, etc., you can call the title company, loan officer or processor or signing service with questions or concerns and/or stop the closing entirely before you spend too much time with the borrowers. |
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