Posted by Janis Smith on 11/28/05 10:39am
Msg #78891

A new situation

The other day I had a call from a friend who knows that I am a notary, she asked if I could notarize a couple of things for her. I said, sure, when she arrived she had loan paperwork in her hand. The company that she was doing business with sent her all the paperwork, highlighted the places that she should sign and told her to get a notary to sign the mortgage and AKA statements. Seems as though this is taking work away from us, I said, well, I'm only responsible for the documents that I notarized, isn't this company taking money out of our pockets and is this practice going to become more prevalent. I sure hope not.

Reply by srnotary_CA on 11/28/05 10:47am
Msg #78896

It may very well be taking business away from us. But in Ca at least people are aloud to choose their own notary instead of using the one that the loan company or title company provides. Some people after seeing the fees think it is cheaper to get their own notary because they believe we actually get the fees stated. I had a borrower one night say she should become a notary because of the $300 that was stated on the HUD. When in fact I didn't get all of that at all. I just shook my head.

Reply by Glenn Strickler on 11/28/05 11:05am
Msg #78897

I had one of those last week

I was out and about when I received the call and the borrowor told me what they had. I don't really like to do signings where I don't control the documents as sometimes when I get there, the borrowor thinks they are going to save a lot of time by signing ahead of time, so I quoted $100 thinking I would get turned down. She said ok.
While driving over there, I started feeling bad as my normal fee for local is $85 then I add the edoc fee to that. Everything went fine and I charged the $85 and the customer paid cash thinking they were getting a deal even though I explained that this is my normal fee. This was the first time that I ever got paid the same day as the signing. It could be a good thing.

Reply by Janis Smith on 11/28/05 11:28am
Msg #78900

Re: I had one of those last week

Well, that puts it in perspective. I was quite taken aback because I hadn't seen a situation like that before. If it hadn't been a friend I'd probably have treated it differently. I appreciate your insight and ideas. Thank you for responding. This business never had dull moments. Jan

Reply by Roger_OH on 11/28/05 11:58am
Msg #78909

Note the difference...

I've done a number of those "find your own notary" packages; Wells Fargo does a lot of them.
You need to establish what the borrower wants done; if you only notarize the pertinent docs, then it's just general notary work and you are limited to charging your state's notary fees per doc and reasonable travel. If, however, you include a signing agent role whereby you go through the whole package with them, then you can charge your normal signing agent fee.

Reply by Glenn Strickler on 11/28/05 12:05pm
Msg #78912

Thanks Roger, I should have mentioned that.

Reply by deb_MD on 11/28/05 12:06pm
Msg #78913

Re: Note the difference...

I have done several of these loans also and all have been with different lenders. In all both occasions, the borrowers were frantic to get the loan package signed and mailed as they had waited until the last minute and then stated they had a hard time locating a notary. I perform a lot of closings and have seen in packages where the borrower can obtain their own notary. It's easy work and you you are paid that day.

Reply by Anonymous on 11/28/05 12:13pm
Msg #78916

Re: Note the difference...

Depending on what the package is you can actually get more for charging per doc notarized plus the travel fee.

Reply by Anonymous on 11/28/05 2:43pm
Msg #78931

srnotary...had this conversation with my 11 yr old


" But in Ca at least people are aloud to choose their own notary instead of using the one that the loan company or title company provides."

it should be: allowed - NOT aloud

He was allowed to do it.
He said it aloud.

Reply by BetsyMI on 11/28/05 2:56pm
Msg #78935

Re: srnotary...had this conversation with my 11 yr old

Why post anonymously?

Reply by Anonymous on 11/28/05 8:16pm
Msg #78954

Wells

Ditto on the Wells Fargo and a couple other HELCO lenders they send the docs to the client and them them to get them notarized. I was cashing a check one day at a bank, when someone walked in with a loan from another bank looking for a notary. I hope the new bank talked them into a different loan. Anyway, I have done a number of these. Also one of the $50.00 signing companies is starting to send documents to the clients and then hunts for a last minute notary. A trend of the future. Sigh.

Reply by srnotary_CA on 11/28/05 11:50pm
Msg #78973

Re: srnotary...had this conversation with my 11 yr old

Heaven forbid I make a typo. At least there is an english teacher on the board.

Reply by BrendaTx on 11/29/05 9:46am
Msg #78995

Re: srnotary...had this conversation with my 11 yr old

**Heaven forbid I make a typo. At least there is an english teacher on the board.**

Srnotary, I think you hit the nail on the head regarding "teacher" as it matches one I am aware of...anyhow, I think this is a good thread/topic on why there should be no anons. The good part is that if an anon is too outrageous Harry can easily convert all their stupid posts into their name like he did that KH character's.

It doesn't bother me for an anon to call me a high school tramp (earlier post last week) or tell me what a terrible person I am, but I find it really disturbing for an anon to start correcting spelling.

Reply by eXpedN_TX on 11/29/05 10:02am
Msg #78998

Re: srnotary...had this conversation with my 11 yr old

Did you notice that the Anon poster wrote HELCO instead of HELOC??? LOL!!!

Reply by srnotary_CA on 11/29/05 10:08am
Msg #79000

Re: srnotary...had this conversation with my 11 yr old

Yes I know what you mean. They post anon and insult away. I am not bothered by petty things usually. But over something as silly as a typo when there are notaries backdating and lowballing. Well I guess that just gets my dander up.

Reply by eXpedN_TX on 11/29/05 10:13am
Msg #79001

Re: srnotary...had this conversation with my 11 yr old

I have to admit, a typo is a typo and should not be a big deal on this site, but some times I copy and paste my messages in word so I can check spelling. People really should not feel so picky unless they are typing up a message to a customer. I once wrote a note to someone at work about meeting for lunch. I typed "Count me in", only I left out the "o". I noticed it as I clicked send and the spell checker never caught it. I was mortified....hence, the copy and paste in to word.