Posted by anon on 12/5/03 5:38pm
Msg #360

Up Front Payments?

What do you guys think about asking for--at least partial-- up front payments? It's very common in other industries, and would save many of us the problems and headaches of chasing invoices.

I'm tempted to ask that 1/2 payment be included in the FedEx. Sure the signing services won't like it, but think about it--we're extending 30-60 day 0% credit to these companies.

If enough of us demand this, we can make it commonplace.

Reply by Tina_MA on 12/5/03 10:24pm
Msg #364

Up Front Payments?
Posted by anon on 12/5/03 5:38pm

What do you guys think about asking for--at least partial-- up front payments? It's very common in other industries, and would save many of us the problems and headaches of chasing invoices.

I'm tempted to ask that 1/2 payment be included in the FedEx. Sure the signing services won't like it, but think about it--we're extending 30-60 day 0% credit to these companies.

If enough of us demand this, we can make it commonplace.


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I have had a few companies include payment with the docs, but not many.

It is my understanding, from someone who's done signings for many years, that co's used to prepay all the time. Problem was that many notaries were taking the checks, cashing them and never completing the signing, or not getting the docs back to the lender in a timely manner, or were doing shoddy work with the package.

In order to stop that, they stopped putting checks in with the packages.

I find it interesting that we notaries are supposed to be above reproach, full of integrity and whatnot only to find that there are many that do not possess these qualities.

Reply by Integra_Sign on 12/6/03 12:51am
Msg #367

In the Mortgage Industry, getting a company to pay you anything upfront does not fit into the thought processis of Mortgage professionals. They, for the most part are all on Commission Pay. If the loan doesn't close, they don't get paid. That thought tends to have a trickle-down effect.

As a former Mortgage Broker; I speak from experience that you will not receive any form of compensation for services rendered, if the loan does not close and is funded. If the company that you are doing business with is a Direct Lender, then, perhaps there is a chance. But in any case, it will never be advanced in any form. However, you should still have a written agreement on "pay for services rendered", even if they don't pay!

Furthermore, if you think that you're experiences a nightmare, consider what Attorneys go through. When the Broker wants to close and they're waiting for the Lender to forward the packet to Attorney, and the Attorney final gets the packet late! Most Law Firms will not make too many concessions on their operating policies. Generally, if the packet doesn't arrived the day prior to closing by 12 noon, it will not close that next day! Some Attorney's, depending upon the relationship, will make those exceptions to policy on a case by case basis. But now, because of this new genre of Signing Agents, we're simply experiencing the same frustrations as the Law Firms.

Think about when the abstractor from ABC Law Firm performs a title search on a particular property? That abstractor is either on contract, or is one of the para-legals on staff at the Law Firm. Now, the Law Firm is expecting to get paid for their work, but then the loan fails, now what? Some Law Firms just chalk it up. But others want to be paid, and they submit their invoice to the requestor! But do they get paid? Oftentimes, they never do! So, it's just one of those things that comes with the industry.

Reply by d. williams on 12/23/03 3:38pm
Msg #477

won't happen. if you disappear with the docs or don't send them in by funding date they have no recourse. signing agents have to start thinking like business owners - not like people who are looking to make a quick easy buck - doesn't happen that way. for the few bad signing companies out there, there are hundreds of idiot closers who are irresponsible in every possible way which will eliminate the future of this job for the rest of us!

Reply by Ninna Mantooth-Lopez on 12/23/03 7:05pm
Msg #478

I only ask for payment up-front when I've read about non-payment on notary forums. One company, who will remain nameless, wanted to know why I wanted payment up-front and I told them. They wondered why I would take the word of (usually) anonymous postings to determine whether or not I would trust them. I explained that these forums are our only way of finding out about companies not to work for or which companies should be asked for payment up-front. Needless to say, they were not willing to pay up-front, but I'm sure they found someone else to do it... it just wasn't going to be me without payment up-front.