Posted by Bonnie_FL on 11/30/05 3:43pm
Msg #79337

Title Company and notary fee

I negotiated my rate with the last couple of signings I did for title companies and accepted a few dollars less than I normally charge, however it was not that much of a difference. I was willing to accept the signings and establish a relationship with them. However, I noticed on the HUD the notary fees being charged to the Borrower are $75 MORE than I am being paid. Who is keeping the additional money, the TC now? There was no SS involved in either of these transactions.

Reply by ReneeK_MI on 11/30/05 3:50pm
Msg #79340

I hate to tell you this, but ...

Reply by NM_CO on 11/30/05 4:04pm
Msg #79345

lol Renee.

One of the tc's that I work with charges 350 on the hud and pays 150 to me. What you're seeing is normal.

Reply by BP/WV on 11/30/05 4:53pm
Msg #79368

NM - your a signing service right? So, let me get this right, your company gets $150.00 for signings. Out of that you pay your SA to do the actual signing, so depending on edocs and mileage, (lets take the average signing for example) $100 plus $25 for edocs = a small profit margin for a SS. What I dont understand is why Title companies just dont find the signing agent, cut out the middle man, and put the actual notary fee with signing agent name right on the HUD...

This makes me feel blessed that I am in an attorney state

Reply by NM_CO on 11/30/05 6:39pm
Msg #79385

BP, yes. That is only for one of the tc's that I am talking about. This particular tc I have worked with for a LONG time and I love all of them to death so I don't mind only making 25 bucks a pop when I contract it out. As for the other tc's, it's usually more about saving time. A tc usually does not have the time to "find" notaries, especially at the end of the month so in a sense it's actually cheaper for them to use a service.

Reply by Tina_MA on 11/30/05 11:19pm
Msg #79470

>>>"...makes me feel blessed that I am in an attorney state.<<<

I agree wholeheartedly.

Reply by TitleGalCA on 11/30/05 9:48pm
Msg #79414

LOL Renee. Yep, sometimes even I have to face the truth....still, it's comforting to hide my head in the sand now and then.