Posted by Jon_PA on 12/16/05 9:00am
Msg #82994

Has this happened to you?

BWR calls me and asks if I am available to notarize loan docs. They were shipped to him and no explaining is necessary. Since I am only notarizing I can only charge him basic notary fees?
Right? He is coming to my office. Sorry if this was discussed before.

Reply by Roger_OH on 12/16/05 9:06am
Msg #82995

Correct. Since you haven't been requested to wear your signing agent hat, it's straight notary work with the appropriate state charges per doc. You could still charge travel fees if you were going out to him.

There are a number of companies that are having the borrower find their own notary (Wells Fargo is the one I see the most). The difficulty is when the borrower DOES need that signing agent hat, but just finds a basic, everyday notary who is unfamiliar with the nuances of loan docs.

Reply by Lee_CA on 12/16/05 9:06am
Msg #82996

It's happened to me before. You know these signings are actually not that bad!

I've notarized a refi for a couple and it was super easy. Thin loan packet, they provided all the papers, they came to me, they left to drop off the docs at kinko's and all I notarized was 3 things.

We get to charge more for this type of thing if we have to do all the legwork, I guess. Otherwise, if the BWRs are coming to you with everything and the most effort you have to put out is whipping out your seal and updating your journal, I would think it's only fair that you charge your basic notary fees.

Wait a second... Maybe I'm just working for free here... does anyone else have an opinion on this?

Reply by Art_MD on 12/16/05 9:07am
Msg #82997

Sounds like only notary fees. Who is shipping the docs? Any fax backs? ANY thing outside of the notary work? if there is, there's your basis for addition fee, otherwise, just notary fees.

Art

Reply by Jon_PA on 12/16/05 9:12am
Msg #82998

Thanks Roger, Lee & Art . Have a great day N/M