Posted by Joseph_CA on 4/30/05 1:48pm
Msg #35100

I got my first...

A SS called for a signing the following day. They asked how many I have closed. I told them
how many and asked my fee. I SAID 75.00 overnight. Ok I will call you back ok? They never called.

I been doing spanish speaking clients and its been taking me 2 hours to go every document, because they want me to explain what their are signing with so much details. I dont mind explaining, some time they ask for advise, but I politly decline.

Joseph

Reply by Carol_SoCal on 4/30/05 3:26pm
Msg #35121

I have had SS's say "Ok" and hang up on me when I tell them my price. I can't help but laugh. Since business has been soooo slow lately I have been accepting thier proposed fees without hesitation. $55.00 for a re-fi is better than nothing. Any signing is a good learning experience. Good luck.

Reply by Ted_MI on 4/30/05 4:31pm
Msg #35135

Joseph,

How do you happen to speak Spanish? I have not had any loan signings with Spanish- speaking signings yet, but I did notarize a Power of Attorney that was in Spanish. It was being sent to Mexico. The woman was totally bilingual, so we only spoke part of the time in Spanish.

Reply by ERNA_CA on 4/30/05 6:37pm
Msg #35152

Re: I got my first...win some loose some :)

Reply by Barry on 4/30/05 10:07pm
Msg #35178

I am not familiar with CA notary law, but in FL, it is against the law yo explain the documents. You can point to the answers in the documents, but can not explain them. Explaining the documents is considered practicing law in FL. You might want to check CA state law to be certain.

Keep your fee at $75.00. Do not be discouraged. I have found quite a few notary signing agents who are paid $150.00 per signin in L. A., CA.

Reply by PAW_Fl on 4/30/05 10:20pm
Msg #35184

You need to be more explicit in your statement about "explaining" the documents. You can certainly tell anyone, including the borrowers, what the purpose and use of any document or term is. You just can't go into the specifics of "their" loan. For example, you can show and tell the borrowers how an APR is derived, but you can't tell or comment on why the loan interest rate is what it is, or why the finance charge is $10,000 instead of $7,500. You can explain what PMI is and how it works, but you can't explain why their property was assessed at $xx which yielded a LTV higher than 80%, resulting in the PMI requirement.

The word "explain" is rather nebulous and ambiguous. I prefer to say, "I can tell what the documents are for, their purpose, but I cannot explain the contents as it pertains to your particular situation. For that, you will need to contact your broker or loan officer."

Reply by PAW_Fl on 4/30/05 10:32pm
Msg #35185

Attempting to define "UPL"

The American Bar Association, as well as the legislature in every state and in our nations capital, has been having major heartburn over trying to get a grip on UPL. I invite everyone to read the ABA article and associated articles on the attempts at defining the "Practice of Law" and the "Unauthorized Practice of Law". (For those not interested in digging into this, there is nothing cast in stone, not even day-old Jell-o, that really tells us what it is or what it isn't.)

A good starting point, imo, is http://www.abanet.org/rppt/section_info/upl/home.html