Posted by Marie_MN on 6/22/06 10:03am
Msg #127555

Who really owes for the signing.

I did a signing for a company that I have a confirmation from. I did the signing a month ago and have been calling for payment for two weeks now. I talked to one person who said "it just funded and your check will go out June 7". No check on June 15 so I call back and leave a message for accounting. June 19, I call again and talk to the assistant and was told, "I will make sure you get paid. This is not good business and if we need you in the future, we don't want any bad feelings." Yesterday I get a call from a gal who said she is only the middle person and that the borrowers will have to pay me because it never funded. So I call the borrower and yes, he was told that he had to pay me. He feels bad because I did my job and I should get paid but he doesn't have the money to pay me. SOOOOOOO, who really owes me the money? I would really appreciate all responses so I know where to proceed from here.

Reply by LawrenceOK on 6/22/06 10:09am
Msg #127557

The company that contracted with you to do the signing is the one responsible to pay you.

Reply by SharonMN on 6/22/06 10:10am
Msg #127559

Is the borrower responsible for paying the FedEx man, too?

Reply by Marie_MN on 6/22/06 10:14am
Msg #127562

I NEVER pay for fedex, the companies pay for that upfront.

Reply by SueW/Tn on 6/22/06 10:09am
Msg #127558

Marie, it is my understanding that the borrower can utilize the RTC without any financial repurcussions. The SS that hired you...is this their policy to not pay a print fee and/or appointment fee IF it doesn't fund? If that's their policy and you've signed a contract with them then you don't have much recourse. IF you haven't signed a contract with them I would put the ball back on them. Does it say anywhere on your confirmation that they don't pay if it doesn't fund? Is this an SS or a TC?

Reply by Marie Kyker on 6/22/06 10:13am
Msg #127561

No, there is nothing that states anything like that. As a matter of fact, I requested a confirmation in writing because they normally didn't send confirmations. (Imagine if I wouldn't have been adament about getting one). It was actually a mortgage company that hired me.

Reply by SueW/Tn on 6/22/06 10:18am
Msg #127563

ahhhhhh...it's been my sad experience that they do NOT pay if the loan doesn't fund. It's the only downside though and thankfully doesn't happen that frequently.

Reply by patricia on 6/22/06 10:24am
Msg #127564

no, they dont pay but I can charge much more to do the signing and so far have not had any not fund, I always ask the loan rep to go over the terms and figures with the borrower and make sure they do know whats coming.

Reply by patricia on 6/22/06 10:24am
Msg #127565

no, they dont pay but I can charge much more to do the signing and so far have not had any not fund, I always ask the loan rep to go over the terms and figures with the borrower and make sure they do know whats coming.

Reply by JanelWI on 6/22/06 10:29am
Msg #127566

If you completed the signing and the paperwork went back on time and it did not fund. You should get paid from the company that hired you! You should get paid your full fee. You completed the signing. It did not table and from what you said there is no contract that says otherwise. The lack of funding was not your doing.

The borrowers have the Right to cancel the transaction without any penalty. That is what the RTC is for. I find it extremely unethical that the Company TOLD the borrowers they had to pay you!! Unbelievable. I always include a line on my invoice that states: The transaction has been completed in full. Full payment for my services is required regardless of the outcome of funding. I also include a variation of this on my reply e-mail for confirmation receipt. They accept it or they don't, such is life. If there is no word specific contract stating what will happen if it doesn't fund. You make one! You should get paid from the company Marie, not the borrowers. Good luck, I hope it works out!

Reply by Marie_MN on 6/22/06 10:34am
Msg #127568

Thanks for your responses. I will call the borrower and let him know. He is a gentleman in his 70's and he is so worried about me not getting paid and feels really bad because they are telling him that he has to pay me and he doesn't have the money. We'll see what happens.

Reply by SueW/Tn on 6/22/06 10:39am
Msg #127570

Since you received mixed messages in the beginning...I would be curious to know IF it funded or not. IF it funded, get em! Perhaps you could think of a very nice way to ask this gentleman if in fact he utilized the RTC to find out did this loan NOT fund.

Reply by Jersey_Boy on 6/22/06 10:45am
Msg #127572

STAND YOUR GROUND... DON'T GIVE INTO THE BS.

The borrower owes you NOTHING!

The lender owes you FULL FEE. Betcha the appraiser got paid! Betcha FedEX got paid!

Don't ask to speak with the accounting office when you call, ask to speak to the COMPLIANCE dept. Inform the COMPLAINCE dept. that you were instructed to collect payment from the borrower who EXERCIZED HIS RIGHT to use the RTC. Let them know that if you don't receive payment immediately, that you will be in touch with your states banking commission.

Betcha you'll get paid.

I had to do this on a few occasions... works everytime.

Reply by AngelinaAZ on 6/22/06 1:47pm
Msg #127617

Sheesh.....

And does this method get you lots and lots of biz? Sometimes loans don't fund... on the rare occasion this happens to me... I'd rather keep the regular business then threaten the compliance dept. for one fee. Everybody knows that if you push hard enough, eventually you will get paid. But choosing to bend them over the barrel when they too are losing money is a poor choice of energy in my opinion.

BTW... In the time I have worked for Lenders... I have only had a few instances where the loan does not fund... but I've always been paid. I spoke with the LO and offered to reduce my fee to cover the minimal costs plus a little for my time. They have agreed and then I ask them who I should send the invoice to. I then call that department... talk to the person... explain the situation... fax the invoice... and I get paid (Usually about 30-45 days later... it gets put into the regular A/R).

I agree they owe the full fee... but you could always turn the situation to your benefit.

Reply by JanelWI on 6/22/06 10:45am
Msg #127574

Re: In his 70's!!! OMG! I am stunned. I feel bad for him! n/m

Reply by Anonymous on 6/22/06 10:49am
Msg #127576

Who really owes for the signing is the broker. If you threaten them with reporting them to the Department of Real Estate, the check will be in the mail the same day. Good luck

Reply by Marie_MN on 6/22/06 10:58am
Msg #127579

Whoever just called me from CA on this issue

I did not receive your e-mail and I wonder if maybe you didn't get the address correctly. Please call me back so I can get that info. from you.

Reply by Marie_MN on 6/22/06 11:02am
Msg #127580

Re: Whoever just called me from CA on this issue

I guess I just didn't wait long enough. I got your e-mail.

Reply by Kevin/Ct on 6/22/06 11:18am
Msg #127581

There are a number of different theories of contract law under which you could seek payment. Each theory depends on the facts of the situation. You have an express contract possibly written or oral with the signing service or title company that hired you. Your primary target would be the other party to your express contract provided all of the terms and conditions have been met. If the loan did not fund because of cancellation, your recovery would depend upon the terms of payment you negotiated in the event of cancellation.

If the loan funded you have additional avenues to explore. You could proceed against the signing service or title company that hired you. There are also theories of recovery under implied contracts against other parties. If the parties who benefitted from your services, borrower, lender, etc. knew that you were performing services, expected to be compensated for your work and they realized financial gain thereby, you could seek recovery of your fee under a theory of unjust enrichment.

Reply by Michael The Notary on 6/25/06 12:00am
Msg #128074

If you've ordered cable TV service at home, and, for some reason, never watched your cable, does this exuse you from paying your cable bill?? NO
THE SERVICE WAS ORDERED AND PROVIDED IN FULL. It must be paid in full!!! By whoever ordered it.
Yes, lender might try to collect some expenses from former mortgage prospect, but usually they nevetr bother to. ANYHOW, you have nothing to do with it. You did your part. Just like FedEx.
Good luck.