Posted by GL/CA on 1/6/06 12:42pm
Msg #86671

Signings that go bad/please comment I need advice

I do signing for a Company "ABC" Not a SS......This particular co has this program that allows the bwr to "pick a payment". Ok fine.....So going through the loan with the bwr, we come across the pick a paymnent , $1023.60"...ok no problem then we get to the"escrow account statement", which says. "Your monthly payment for the coming year will be $1023.60 to be applied to your mortgage and $253.75 to be deposited in your escrow account. The combined total for each payment is $1277.36." etc etc. So now the bwr is irrate!! He's under the impression that his payment is $1023.60 including escrow amount. No one ever explained that he was going to have to pay an additonal amount. Bwr steaming mad, screaming I'am trying to save money here not pay more. yadeyade....So needless to say the loan signing has been stopped. On the way I go. This has happended to me several times with this particular company. Now mind you they do not pay for "no signs". And I travel 100 miles round trip....sometimes.... Any suggestions?
What they tell me is next time I do a signing for then, "make it up" with my next invoice.
geeezzzz. In other words, with my next invoice, charge the next brw a higher amount for my notary services. geeezzzzzz. They do allow me to charge well.

Reply by Anonymous on 1/6/06 12:51pm
Msg #86680

If you have done signings with this company before should'nt you know to tell the borrower when they are picking their payment that that does not include escrow?

Reply by Anonymous on 1/6/06 1:10pm
Msg #86689

You are saying that you get nothing at all for a no sign. If that is true I don't think you should work for companies that pay nothing for your time, travel and printing if that was the case. And if these are sketchy loans you may never get one to close.

Reply by John_NCal on 1/6/06 1:12pm
Msg #86690

<<<If you have done signings with this company before should'nt you know to tell the borrower when they are picking their payment that that does not include escrow?>>>

Whatever the case, the loan officer did not do their job, they are the one who is supposed to let the borrower know the parameters of their loan, not the signing age. The LO is the one making the big bucks on the loan, not the SA. Sounds like a lazy greedy LO and company to me.
If it's worth it to you to take the gamble for an unpaid no sign, then do it. Otherwise, I think I would negotiate something to compensate for your time and expenses with your lender or whomever.

Reply by CaliNotary on 1/6/06 1:17pm
Msg #86693

Suggestion

Call the borrower when you get the docs and tell them what the loan payment is, what the impounds are, and what the total payment is and make sure that they're ok with it before you head out.

Reply by GL/CA on 1/6/06 2:28pm
Msg #86714

Re: Suggestion

Thank you sooooo much. This is a great suggestion! I think also I will communicate with the lo and ask them if their bwr know that the pick a payment does not include escrow impounds. Thanks again. Great idea!

Reply by Shane_OH on 1/6/06 1:19pm
Msg #86695

They have to pay for your services. There is no such thing as not paying for no-signs, unless you signed some sort of contract that stated such, and were agreeable to it at the time.

If you didn't, start sending them invoices, payable in 30 days or an additional late fee is charged, after 90 days turn them over to collections.

File a small claims suit against them if you have a bundle... usually its only $30-40 to file downtown.

Reply by Anonymous on 1/6/06 2:20pm
Msg #86710

Re: Signings that go bad/LO stupidity=no pays

Posting as anon b/c reps from the responsible co lurk here. Got a call to do an owner occ 1st
in hubby's name w/wife as vested owner. Called bwr & got directions & he said call back before I hit the road. Got e-docs pulled, copies and assembled, called bwr back and said on my way...make sure you & wife have ID available. Says he ...what wife?? she isn't here...left long ago & sure won't be signing anything....doesn't even live here! Called LO & he says was unaware that a wife was in title....says I, didn't you get a title/property report ?? He says let me pull that.....oh, yeah...she's on there. Now I have wasted 2 hours of my time printing close to 200 pages on my paper with my toner b/c this jamoke doesn't know how to originate loans. I could just SCREAM!!!!!!!!

Reply by Anonymous on 1/6/06 2:24pm
Msg #86713

Re: Signings that go bad/LO stupidity=no pays

Happens all the time and they expect not to pay. It's has been happening to me more and more. I think these LO's are about 12 with no experience. So many errors and surprises lately. Desperation must be setting in.

Reply by JanetK_CA on 1/6/06 7:06pm
Msg #86762

Re: Signings that go bad/LO stupidity=no pays

The number of signers to be present (and whether or not they have necessary ID) is one of the things I always check with the borrower when I confirm an appointment. If they say it's just them signing, I'll check the docs real quick to make sure before I set out. I've avoided several potential nightmares that way. (Learned the hard way once!) I still occasionally run into someone with improper ID who had assured me it was no problem... (Usually a comment follows about how they've refinanced 3 times but no one ever said anything before about the fact that their name is different on the ID than the docs! ;>)) On the phone especially, I'm careful about not being confrontational about it. It's saved me a number of potentially wasted trips.

BTW, I think you're right about desperation setting in. Expect it to get worse as competition increases for them, too...

Reply by PAW_Fl on 1/6/06 3:12pm
Msg #86723

Maybe for you it's only $30-$40 to file. Here, by the time it's all said and done, it will be around $150-$200 in cost.

Reply by JM_NY on 1/6/06 6:04pm
Msg #86748

Small claims court

When you file and win your case here in NY all your costs are applied to the claim. So the cost is nothing to you.

Reply by Tess/ME on 1/6/06 6:16pm
Msg #86750

I had a closing 10/21 - edocs - and when I arrived at the borrower's house she said "I hope they got everything right, let me see the paperwork". Right away she was on the phone saying she wasn't going to sign the papers because they were all wrong. I spoke to the L.O. & he said he had to go over things with her and to leave borrower's copies with them and the closing would be at another date and I would be "compensated". Well, 140 pages twice is a lot of edocs and the trip was over an hour drive. I went on to my next appt. which I called and they said "fine come early" so while I am there the L.O. calls and says "go back" they want to sign right now. Told him I couldn't & probably not for a few hours, which they said
they wouldn't wait that long and changed their minds again. O.K. I report all to the SS & have tried to get paid, even cut my "no sign & edocs" to a meager $85. and still can't get a dime from the SS nor the Mtge. Co. They won't even answer my emails, phone calls or faxes. So.....is it worth it to put money into court costs? Secure Signings did pay me the other monies they owed for earlier closings though and I haven't done one since, nor will I ever again.

Reply by Mike_AZ on 1/6/06 6:39pm
Msg #86757

I do what CaliNotary does.

Plus

At bottom of each invoice I list a date I need payment by. Then I say if no payment by that date $x late fee is charged each week.

$x is the filing fee for sm claims court here.

Plus

I don't work for no-close, no-pay co's. I don't agree to trip fees. Full pay. Period.