Posted by CAtitlegal on 6/18/05 4:01pm
Msg #45881

Signing last nite.....Mr. Nosy Borrower

Arrive at brw's home and introductions were made. I start my speil about my role as an impartial NSA and he cuts me off saying 'yeah, yeah, I know all about you guys. I'm in the business too, retired investor and still have my hand in it'. My heart sinks a bit at hearing this - signing could either be easy, or painful depending on his level of ego. Then he says in sort of a demanding way 'hey, you guys make a lot of money doing this don't you?' Now, I hadn't even opened my bag at this point, but at least we were sitting down. Then he says 'so, what's the going rate for notaries now, you makin' a lot?' I was floored - first that it was said at all and sort of demanding way, then wanting to know my fees and/or income - all of it before we even got started.

I found myself mentally zig-zagging going through all those posts I've read here...$50 notaries, fees to high, fees to low, no pay/slow pay, difficult TC's/LO/brws, all the hurdles we all go through - including sheep thieves - all the efforts we make to be pros, my own experience, etc. I paused for just long enough to let his question hang there in the universe for a while, smiled sweetly and said "I really enjoy what I do". I think he got it - he never asked what I thought the next question would be - 'so, how do I get into this'?

I have to commend the NNA for their massive marketing campaign to encourage folks to become NSA's and make a million. It's been very effective.

Reply by Sylvia_FL on 6/18/05 4:06pm
Msg #45882

I have run into this. I tell them all the equipment I must have, how some companies want around 2 years experience as a signing agent. And then I drop the "clanger"

"And some companies will pay up to $35 for us to do this".

But the thought of doing this for $35 is enough to put some people off. But it is true, there are some companies paying such lowball fees. But the borrower gers the idea that we only get paid $35 to go out and it "isn't for them"

Reply by CAtitlegal on 6/18/05 7:00pm
Msg #45916

I'll remember that next time it happens...lol $35.

Reply by Tess/ME on 6/18/05 9:26pm
Msg #45960

I had Mr. Nosy Borrower Thursday evening. He said "so how many of these do you do in a week?" I told him it varies, sometimes a couple a day, sometimes none for a couple of days. Then he says "you must get paid well for doing this" and I said "It's not too bad". Then he asked "how much DO you get paid to do one of these?" And that is when Mrs. Borrower spoke up and said "IT'S NONE OF YOUR BUSINESS HOW MUCH SHE GETS PAID, Just shut up and sign the papers". He did.

Reply by AngelinaAZ on 6/18/05 6:08pm
Msg #45904

Re: Lots of Nosies lately

I had a lady look at me last week when she saw the Notary Fee listed on the Settlement Stmt and say, "Well you've got your fingers in the pot don't you."

Have you seen the new (I think it's new, it's the first time I've encountered it) form in the Title Docs asking the borrower to cover the Notary Fee themselves if the loan doesn't fund?

Reply by BrendaTX on 6/18/05 6:11pm
Msg #45905

Re: Lots of Nosies lately

***Have you seen the new (I think it's new, it's the first time I've encountered it) form in the Title Docs asking the borrower to cover the Notary Fee themselves if the loan doesn't fund? ***

Hmmm...a good lawyer would have a field day with that one in Texas. It's could be considered coercive to those with very poor credit and unable to pay a notary fee of even $50 much less the $200+ that some subprime lenders would pay a notary.

Reply by AngelinaAZ on 6/18/05 6:47pm
Msg #45912

Here's the Wording...

I was speaking from memory and it looks like it doesn't say anything specifically about funding but rather **in the event the escrow transaction cancels**. Seemingly, this would make them responsible for the notary fee no matter what... but I'm not an attorney. Seems cheesy!

Mobile Notary: Borrower(s) herein agree that the mobile notary sign-up has been arranged as an
accommodation for the parties herein. In the event the escrow transaction cancels, Borrower(s) herein agree to
handle payment in full outside of escrow with the notary company direct. Borrower(s) hereby indemnify and hold
harmless Escrow Holder and title company of any financial or legal obligations in connection with said
accommodation arrangement.

Reply by CAtitlegal on 6/18/05 7:00pm
Msg #45915

Re: Here's the Wording...

I'll ask about this on Monday. Probably stems from the unpaid notary issue the EO's have to deal with after the escrow cancels. I can't blame them - I see on a daily basis how hard these EO's work to accomodate everyone. The good ones deserve every break they can get.

Reply by AngelinaAZ on 6/18/05 7:19pm
Msg #45921

Re: Here's the Wording...

I do know that the EO works extremely hard... I did not mean to insult them if that's what I did. The EO's that I have worked with have been my favorites in the 'process' so to speak.

BUT...

The only cancels that I have had have been where something was not right with the information contained in the Loan Docs. "It was supposed to be a fixed rate"... "I won't sign any loan with a pre-payment penalty, period."... "I didn't know anything about a $72,000 balloon payment.... what is a balloon payment?"

I understand that sometimes it IS the borrower that gets cold feet or has a 'neighbor's sister's friend' that got a great rate so they decide to go with another lender. In that case... maybe they should pay for my time.

But more times than not, from what I have seen... the ultimate problem hasn't been with the borrowers.

If the borrower doesn't sign, period, but the reason is that the info was wrong and they lost assurance in the company... who should pay?

If the borrower doesn't sign because of a problem in the docs, the problem is fixed and I get send out again... is the HUD adjusted for my second fee and if so... was it the borrowers fault if the lender didn't get it right the first time?

If I was the borrower I would not be happy signing this form.

Reply by CAtitlegal on 6/18/05 7:38pm
Msg #45927

Re: Here's the Wording...

No! did not even think any insult implied - just an observation for why the language may be originating from the title company. They just don't want to deal with the issue after the fact, regardless of where the fault lies.

***was it the borrowers fault if the lender didn't get it right the first time?***

No question about it..it's not. I shake my head when borrower looks at me and says 'but I only wanted $40k....not $80K' and lender has to be called. It's as tho there was no communication prior to docs being drawn.

Agreed as to your comments about the ultimate problem, and getting the docs right the first time, nor would I want to sign an agreement like that.

Like I said, I'll ask about it next week to see if this is common w/the company I work with.

Reply by AngelinaAZ on 6/18/05 7:42pm
Msg #45929

Personal... for CAtitlegal

I am such an ass!

Have you ever taken one of those tests where you look at a picture and answer what you see...(Do you see a vase or two people talking?)... Well my mind must be in the gutter because all of this time "Title Gal", I've been thinking of you as a very busty lawyer..."California Tit Legal".

AssAngelinaAZ needs some rest!

Reply by CAtitlegal on 6/18/05 7:45pm
Msg #45930

Re: Personal... for CAtitlegal

LOL! Dam, I'd rather be that than the earlier "cattle gal" someone else suggested!! Hope Hugh doesn't read this, otherwise he'll be sending me private emails asking me if I own a liquor store and a bass boat.

Reply by AngelinaAZ on 6/18/05 7:48pm
Msg #45931

Re: LOL!!!! Do you have a bass boat? Be honest now!

Reply by CAtitlegal on 6/18/05 7:48pm
Msg #45932

suggestions please...

TitleGalCA (can that be messed up)
TitlehoCA (speaks for itself)
CAtitlate (I need a date)
CAss (initials...sounds like momma cass - now I'm fat)

help

Reply by Ernest_CT on 6/18/05 8:12pm
Msg #45939

One vote for TitleGal_CA. n/m

Reply by kim_nj on 6/18/05 8:43pm
Msg #45948

Re: Personal... for CAtitlegal

LOL!!! I thought the SAME thing the other day!! Funny how our minds work!! LOL!!

Reply by CAtitlegal on 6/18/05 9:04pm
Msg #45952

Re: Personal... for CAtitlegal

well, all I can say is...ya'll have awful polite about not saying anything about a name like that! And they say people here are rude.....

Reply by SarahBeth_CA on 6/18/05 10:14pm
Msg #45968

Re: Personal... for CAtitlegal

I thought I was the only one who didn't get it. I too like CA Title gal. I was reading it the same as AngelinaAZ was. Even now that I know what it is I still see it the other way...

Reply by TitleGalCA on 6/18/05 10:18pm
Msg #45969

Re: Personal... for CAtitlegal

Problem Solved. Thanks to all (especially Ernest) for not allowing me to continue sounding like a big-chested attorney. There are too many of those already

Reply by AngelinaAZ on 6/19/05 12:21am
Msg #45990

Re: Personal... for CAtitlegal

Well Title Gal... you and Ernest have just FORCED my mind out of the gutter. Now it's back to just contemplating Interspousal Transfer Deeds and Signature Affidavits. What a shame!

Reply by TitleGalCA on 6/19/05 7:18pm
Msg #46082

but Angelina...

The gutter can be a fun place after deeds and affidavits! You gave me the best laugh yesterday and saved me from further humiliation (not to mention the savings from Dr. 90210).

Reply by CAtitlegal on 6/18/05 6:48pm
Msg #45913

Re: Lots of Nosies lately

No, haven't seen it - then again, I don't prepare the escrow docs. Haven't seen it at signngs either.

Thinking outloud here - on a conventional purchase where buyer has to deposit funds in escrow for third party charges (credit rpt, appraisal, termite, etc) why not? (On those sales tho by the time the docs get drawn, I doubt if the loan wouldn't fund). On new home tract sales, which I do most of the time, I would guess approximately 75% of of the docs I see are for 100% finanacing - scary, but most of these are first time buyers and I don't know if borrower could cover notary fee there either. A few days ago, one buyer put $1 into their purchase - had to laugh at that one.

I agree w/Brenda on the refi aspect tho.

Reply by Nancy in Florida on 6/18/05 7:21pm
Msg #45922

Re: Lots of Nosies lately

I have had borrowers when the look at the HUD and see the settlement fee for $225.00 or whatever it is and will look at me in shock and say is that YOUR fee! I say no that is paid to the Title Company. Some borrowers are very noisy and I had one say to me, "So you get what about $50 bucks for doing this?" I smile and say "no I don't get paid $50!" Acting like that is so much for this work. I know they are paying the fee but the Settlement fee they are actually paying is disclosed on the HUD and there is no need for them to know my fee. When I worked in NY the Attorney I worked for would charge $500 to the borrower for representing the Lender at the signing. Regardless if an Attorney conducted the closing or if I did neither of us could give any legal advise to the Borrower because we represented the Lender. You would not believe how many borrowers thought that the Attorney fee lised on the GFE meant that the Lender appointment them legal counsel!

Reply by DellaCa on 6/19/05 2:13pm
Msg #46042

Re: Lots of Nosies lately

I have Angelina They seem ok to sign it if they are completely happy with the docs but if they are thinking about using the 3 day at all they laugh and say no way, And will not sign it.

Reply by CaliNotary on 6/18/05 8:14pm
Msg #45941

"I have to commend the NNA for their massive marketing campaign to encourage folks to become NSA's and make a million. It's been very effective."

It certainly has been and I know I'm enjoying saying "I'm CaliNotary, millionaire. I own a mansion and a yacht".

Reply by AngelinaAZ on 6/18/05 8:55pm
Msg #45951

I have a bass boat... and a sheep! Do you want me to tell you how to join the NNA?

Reply by Julie-mi on 6/18/05 10:54pm
Msg #45981

I just tell the nosy ones that there is barely any business and that I'm going to look into Mary Kay, Pampered Chef, PartyLite, et al, and if they would like to have a party, I'll leave my number. This usually shocks them into silence. Although it's not like a few years ago, when borrowers would tell me they just got their "notary license"-----nails on the chalkboard!!!!!!!

Some people have no manners.