Posted by nt/ca on 3/13/05 9:56pm
Msg #25316

Borrower contacts SA directly

Out of curiousity ...How often do y'all have the experience of having the borrower seek you out to sign documents - meaning no SS or Lender referred them to you directly. Simply, they have the papers and found you in NotRot or the Yellow Pages.

Reply by BarbaraL_CA on 3/13/05 10:28pm
Msg #25317

I have borrowers contact me often from my website.

Reply by Nancy in Florida on 3/14/05 7:28am
Msg #25326

I have never been contacted by borrowers as of yet but I have had friends and relatives that refinanced and the Lender sent docs directly to the borrower and had indicated where they need to sign. The only request of the Lender/title company was to have certain docs notarized and it was the borrower's responsibility to find a Notary and not necessarily someone to explain each form. I would think when the lender lets the borrower search for themselves that the lender is only concerned about notarization. My firends had gotten a Notary that was a family law paralegal and didn't know anything about the docs.

Reply by me on 3/14/05 9:11am
Msg #25335

You can't notorize for friends or family correct?? This is a question.

Reply by Art_MD on 3/14/05 9:37am
Msg #25338

Re: Borrower contacts SA directly -family ?

The laws vary from state to state. Check in your notary handbook.
It is not illegal to notarize for friend/family in MD. You are cautioned against it, but it is not illegal. It's up to the notary to decide if they want to do it. e.g. I have no problem notarizing a bill of sale for a car for my daughter.


Art

Reply by Lee/AR on 3/14/05 10:14am
Msg #25346

Just once... and he nearly choked when I quoted my fee! Apparently thought I'd travel 25 miles 1 way for $5. Never did find out what he wanted notarized.

Reply by John_NorCal on 3/14/05 10:57am
Msg #25352

In CA, you can notarize anything for anybody as long as the rules are met, including, HAVING NO FINANCIAL INTEREST in the transaction. Better avoid notarizing for a spouse because of community property laws. Many years ago I notarized the final divorce decree acknowledgement for my mother-in-law, don't know if that was good or bad..So far there hasn't been a finacial interest in that act, but wait and see, she hasn't moved in yet! heh-heh!

Reply by Becky on 3/14/05 9:55am
Msg #25341

I've been contacted by borrowers directly too (all for HELOC). Apparently there are some lending institutions, e.g. Wells Fargo, who would send docs to borrowers and let them seek a notary. In these situations, borrowers take control of signing and point out to you what docs they need notarized. I don't usually see the entire package - borrowers pulled out docs for notarization.

Reply by Sylvia_FL on 3/14/05 11:47am
Msg #25358

I have had those Wells Fargo ones, and the instructions to the borrower has said to sign the docs in front of the notary. I always tell them it is not necessary to sign the docs in front of me, that they only need to have the ones with an oath on signed in front of me.

When the borrower has called on those, I have told them it is $10 per notarization and I am only acting as a notary public, if they want me to go over the docs with them, then I give them a signing agent fee.

Reply by calipat on 3/14/05 1:48pm
Msg #25379

I have had it happen only once, but for some reason today I got 2 phone calls to do them. One was for a HELOC and the other was for a re-fi. Still waiting to hear back, they probably are hunting around for the cheapest, which they should. I gave them a fee of $10 per signature for the notarizations plus a travel fee. For the whole package I gave them my regular fee, plus a travel fee. So I shall see if either one calls back.

Reply by CA on 3/14/05 2:30pm
Msg #25391

Re: Borrower contacts SA directly..? for calipat

Being new, what is your regular fee and travel fee. Is this in addition to the $10 per signature? TYIA