Posted by Anonymous on 9/9/05 11:00pm
Msg #64492

Not sure how to handle this...

I have done several HELOC closing assigned to me from a TC. The Mortgage co is local and I have done numerous closing out of their local office and also in borrower's homes. This Mortgage Company really likes my work and has requested that the TC use me for all their closings, the TC agreed. These are very simply HELOC with only 2 docs requiring notarization. The pay is $60 and since these only take 20 minutes I am okay with that fee within my City only. (They are always overnighted to me, never edocs) I am now getting called for closings that are not in my City, I do travel to other location for the right price but some are an hour away and I will not do it for $60 especially now that gas is so high. The TC called today for a closing next week and it was 45 minutes away and the tolls alone would be $10 RT. I asked if the fee could be increased for tolls and I was told no but their client (the mortgage co) really wants me to do their closings. I am not trying to be difficult, as soon as I was asked do all of their closings I could have tried to up the fee at that time but I didn't and now that they are asking me to travel for that fee I am refusing the assignments. I am sure they are not telling the Mortgage Co why I am refusing the signings, they are probably telling them I was unavailable. I really have developed a good relationship with this mortgage co., do you think it would be wrong to tell them why I am refusing some of these closings? I really enjoy these closings and I want the work but not if I am going to end up taking a loss. Would it be unethical or wrong to let the Mortgage co know?

Reply by Les_CO on 9/10/05 3:18am
Msg #64509

You say you've worked for both companies in the past, if so you should feel free to speak with both. If you can't do the out-of-area ones and make a little something, I'd let your contacts at each company know. I believe they both would rather pay more, and have the job done correctly, than chance problems with another notary. You need to check on who/how you actually get paid. (Yes, we all know the borrower pays, one way or the other) Does the Title Company pay you out of their "closing fee" or does the lender "pick it up"? Or do they charge the borrowed directly. Normally the Title companies don't much care about (someone else's) fees, it's the lender that they are important to. You're in business, just as they are, you should be able th discuss these matters with them. No, don't just say you're busy on the out-of-area ones, tell them the truth.