Posted by Mung/CA on 11/1/05 11:46am
Msg #73402

Yet another journal question.

Good morning all. How was your Halloween? Did you dress up ? Get a lot of trick-or-treaters? Here is my question.

I know that w/in a loan package (say one couple purchase) there are numerous ack's and I believe a jurat. How do you enter that into the journal? Do you add 6+ lines of ack's and then a jurat? What about the price? Say you get $175 for the signing. How do you distribute that amount to cover all the notorial acts and not go over what the law allows? I know this has been asked probably many times but if you can take the time to reply while the questions are still fresh in your mind I would really appreciate it. As you can probably tell, I'm new and haven't done any signings yet. I anticipate I'll be doing them very soon though (my neighbor and my cousin are both brokers that actually got me into this trade). I think that I've been subconsciously stalling doing any signings. Please help!

P.S. I have the journal from notary rotary and I'm from Ca. Thanks!!!!!!!!!!!!

Reply by Brasring_Ca on 11/1/05 12:48pm
Msg #73419

If you are using the new modern journal from Notary Rotary, then it is easy! You will fill out one line for each signer and make sure they sign. Everytime you notarize a document, you will circle which one it is (where the list of different choices are) and then mark a check in either the (a) square for ack. or the (j) square for jurat. Sometimes, I will have to write in the (other) section what the document is because it may not be pre-listed and you check the appropriate (a) or (j) box for the (other) document as well. Hope this helps and best wishes on your new career. I too am located in California but Southern Ca. Jenifer

Reply by Jenny_CA on 11/1/05 12:53pm
Msg #73421

If you thave the Not Rot journal you check of the boxes that indentify the doc you are notarizing. If you are notarizing 7 forms your max fee per CA law is $10 x 7 = $70. You need to keep a separate log where you would include all fees including your travel/milage fee for your records (IRS).

Reply by PAW_Fl on 11/1/05 1:06pm
Msg #73425

>>> If you are notarizing 7 forms your max fee per CA law is $10 x 7 = $70. <<<

You are notarizing signatures, not forms. If I'm not mistaken, California allows a fee of $10 per -signature- notarized, so with 7 documents and two signers on each document, that would be a total of 14 signatures x $10 = $140. Other states, such as Florida, only allow a fee per -notarial act-, thus a single certificate may contain two names, but only one act, so it would be $10 for each. Some states have a set fee for the first signature and an incremental fee for each subsequent signature.

The bottom line is, you need to know exactly how your state allowable fees are structure and apply that accordingly.

Reply by Jenny_CA on 11/1/05 1:10pm
Msg #73426

You are right, I should have been more specific.

Reply by Giselle_CA on 11/1/05 1:13pm
Msg #73427

Yes. CA allows for $10/signature. Under your example, on journal (if 2 borrowers) would show $70 per signer.

Reply by Mung/CA on 11/1/05 1:35pm
Msg #73440

Thanks all