Posted by DellaCA on 6/27/05 8:22pm
Msg #48311

notary fee on hud

I was called by the LO to do the signing but on the Hud where it has notary has the name of a notary service and the fee is over 3 times what my fee is. Would anyone know the reason for this??

Reply by CA_Jeanet on 6/27/05 8:34pm
Msg #48317

There is only one reason and I think you're smart enough to figure it out.

Reply by DellaCA on 6/27/05 8:37pm
Msg #48318

Well i was really hoping that was not the case,but your right.

Reply by TitleGalCA on 6/27/05 8:40pm
Msg #48320

Della, I expect there's reasons figured easily, and some that aren't (like...why don't we get paid on time?)

To me, the bottom line is if the SS on the HUD will meet my fee (re-flippin-gardless of what they are charging) and I get paid in a reasonable amount of time, I am happy. I set my own fees, and reject those that don't. If an SS gets three times what I charge, then maybe I should look in that direction....but for now, just pay me services rendered.

Reply by Calnotary on 6/27/05 8:43pm
Msg #48322

One of the very first one I did when I started, I got paid only 60.00 and in the hud-1 had notary fee
275.00 and they took 60 days to pay me. Final Step sound familiar to you?

Reply by TitleGalCA on 6/27/05 8:56pm
Msg #48326

Yeppers.

Reply by Anonymous on 6/27/05 9:27pm
Msg #48338

this was done to the notary that came out to my house. I feel soo bad because I called her first instead of the broker and asked why her fees were soooo High. that is sad.

Reply by DellaCA on 6/27/05 11:16pm
Msg #48367

This one acully had a notary service'same on it and it was not me. A service was not used.

Reply by DellaCA on 6/27/05 11:16pm
Msg #48368

This one acully had a notary service'same on it and it was not me. A service was not used.

Reply by Was it... on 6/27/05 11:48pm
Msg #48381

"Eric's Signing Service" by any chance? I was told he was "THE BOSS" & it was a "JUNK FEE" to the Borrower! It was almost 3 times more than I was being paid by the Loan Officer. Very sad!

Reply by Katie on 6/27/05 11:55pm
Msg #48384

I did one recently, I was paid $100.00, notary fee was $500.00, that's right 5 big ones.

Reply by Luci/CA on 6/28/05 12:31am
Msg #48386

Sometimes the amount on the HUD is an estimate and is not the actual fee. I have had companies prepare the HUD before they had my fee and the amount was over and sometimes under what I quoted, but I still got paid my quote. In California, especially Southern California, it is very common for the HUD to be an *estimate.*

Reply by stamper_WI on 6/28/05 11:57am
Msg #48479

I may be wrong, but if it does not say estimate then it is the final figures. I know the IRS accepts Hud settlement statements for tax reasons. Therefore that extra money is going into someones pocket and not the indicated person...I believe this is illegal. I am guessing the IRS would be interested in who to tax on that money "earned". Padding fees is illegal.

Reply by Leon on 7/13/05 2:03pm
Msg #51686

I think those fees are charged from the lender or title company not for the SS