Posted by Anonymous on 11/3/05 3:11pm
Msg #73999

Who should pay the notary.

I often do loan signings for an Eo. The Eo told me that the Lo and the Ec is not liable for paying the notary after the loan package has been signed by the bwr and that the bwr is liable for paying the notary. In this case what should the notary do? I'm thinking of putting some language on my invoice so if the bwr does rescind I can still get paid. Please advise.

Your advice is greatly appreciated.

Peace be unto you.

Reply by Roger_OH on 11/3/05 4:03pm
Msg #74030

Whoever hires you is responsible for paying you. Your fee generally comes out of the borrower's closing costs. Your agreement is almost always with a company, not the borrowers directly. As a notary, you cannot have a financial interest in the outcome of the loan; once you have performed your services, you should be paid for them, period.

Reply by Signaway on 11/3/05 4:29pm
Msg #74039

Thank you Roger for the advice. I thought that was wrong.