Posted by Calnotary on 10/6/06 10:55am
Msg #150703

Trip Fees

When SS tell me that they only pay a trip fee when no sign or no show. I always ask for 50.00 dollars or 1.00 dollar per mile both ways, and what ever is greater. But 100% of my fee even if borrower rescinds. Am I been unfair?

Reply by cassiewi on 10/6/06 10:58am
Msg #150704

I don't think so, not at all.

Reply by Merry_CA on 10/6/06 11:06am
Msg #150705

You did what you were commissioned to do. It is the responsibility of the LO and TC to be sure that the documents they send you out with are correct and reflect the terms that the borrower agreed to. They are responsible to be sure that there is not a no sign. You get paid in full for completing your part of the agreement. If you do not get paid in full, write that company off as a bad debt and do not accept further assignments from them.

Reply by Charm_AL on 10/6/06 11:14am
Msg #150707

I have to agree with Merry 100%.

Reply by jlissem on 10/6/06 11:34am
Msg #150709

For a no show I charge a trip fee. All others charged full fee. If they don't pay I send a complaint to Sec of state. I belive they violate the law in N.J. by trying to make a notary a "financialy interested party" to the trasaction.

Reply by Jersey_Boy on 10/6/06 12:33pm
Msg #150723

ATTN JLISSEM

The Secretary of State no longer has any authority when it comes to Notaries Public. This authority was transferred to the State Treasurer

You should be writing to:

NJ Division of Revenue
Business Support Services/Notary Section
PO Box 452
Trenton, New Jersey 08646

Reply by jlissem on 10/6/06 12:44pm
Msg #150727

Re: ATTN JLISSEM

My slip. It did go to Sec. of Treas.

Reply by Mike Photon on 10/6/06 12:02pm
Msg #150715

I recently had a signing where the bo signed a few docs. Then seeing the early line closure fee got freaked out and said thats not what he agreed earlier. Said he is not going to sign anything until this gets cleared. Of course it was 10:00 PM friday night and nobody was reachable (guess it's just us notaries who don't have a real life )

Before starting, I had given him a chance to go through the whole doc and he said, "yeah, yeah, I know what's in here, I've already talked to the LO, let's get goin' "

Long story short, he decided to sign anyway.
My question is if he aborted signing half way, is it considered refusal to sign and do you just charge the trip fee? What if you had notarized a few docs so far? I'm glad I now leave notarization to the very end.

Reply by Merry_CA on 10/6/06 12:27pm
Msg #150721

You did your job. You are entitled to payment in full. Make it clear with the company that commissions you what your terms are. If they are not in agreement, don't take an assignment from them. You will drive yourself crazy trying to negotiate a fee with everyone who calls you. Determine what your fees are... keep it simple... and stick to your guns.

Reply by PAW on 10/6/06 12:52pm
Msg #150729

The way I look at it, I did my job. Docs prepared and presented. That's what I'm paid for. It makes no difference to me if the borrower wishes to sign them or not, or later rescind. I was hired to print, provide and present. That's all. If I get to the table, I expect to be paid.

Quite often, when a borrower refuses to sign, the time at the table is actually longer than if they had signed all the docs in the first place. So taking a reduced fee for more work doesn't compute.

Reply by Roger_OH on 10/6/06 6:52pm
Msg #150793

Re: Trip Fees - another view

I absolutely agree with the premise that if the borrower SIGNS and then rescinds later, then we have completed our agreed-upon services, and are entitled to the full fee.

I have a slightly different outlook for a no-sign, though. As I present the Note, HUD, and TIL, I generally know within the first 10 minutes if there is an issue, and certainly hope the BO's call to the LO will resolve things. If it doesn't though, and a TC is paying me for a first and a second at say, $225 (overnight docs), then I don't, in good conscience, feel that I should charge the full fee when I have not, for whatever reason, delivered the notary services they are paying me to provide. I will charge usually 50% of the original amount as a trip fee for my time and travel in that particular situation. Hopefully, everything gets corrected, and I go back for the re-sign at the full fee a few days later. I agree that we are there to perform the SA duties of printing, providing, and presenting, but in addition we also have to notarize, and can't do that without signatures. To me, the job is not complete without those signatures and notarizations.

This is practical for me, as I see relatively few no-signs, so it's not as much of an issue for me as it might be for someone else who sees more of them. I guess I'm willing to take the occasional 50% trip fee if it maintains the larger picture of steady volume from an otherwise reliable company.

Reply by MichiganAl on 10/7/06 1:44am
Msg #150858

I despise trip fees, but I totally agree with you Roger

It's not a frequent occurrence, especially for those who know how to deal with issues at the signing table. So for the rare times it happens, it's not worth the fuss. You keep the good will with your client, and probably end up right back there for the re-sign. And on the no signs where I've ended up spending an excessive amount of time at the signing, I request full fee and I've gotten it every time.

Reply by ReneeK_MI on 10/7/06 3:50am
Msg #150862

Absolutely agree w/ Roger & Al

all I have to add is that, as an Independent (key word, with all our business decisions), every job and every fee is at my discretion. Hard & fast 'rules' or policies regarding fees don't always make good business practice - there's always room for considering each relationship and each situation.

Also like both of you, the no-sign is a rarity for me as well.

Reply by PAW on 10/7/06 7:59am
Msg #150865

Re: Trip Fees - another view

As a normal course of events, I do offer discounts (rebates, sort of) if I don't spend the time with the borrowers at the table. It is only good business practice to charge for work completed. If we only get through the HUD or Note (always presented in the beginning) and the signing is adjourned, then a reduction of fee is noted and invoiced accordingly. Same goes for a piggy-back. If we don't get to the second, I certainly wouldn't charge for the time that I didn't spend on it.

As with you, I see very few no-signs. In looking back, less than 1% of my closings have been aborted at the table.

Reply by Ernest__CT on 10/6/06 12:55pm
Msg #150730

When the borrower(s) sign, we deserve our full fee, no matter what happens after we leave the signing table, as long as we have done our part WITHOUT MISTAKES. If the borrower(s) rescind(s), that has nothing to do with our having done our job.

If we make a mistake, we must correct the mistake without additional charge, and with as little inconvenience to the borrower(s) as possible.

If the borrower(s) refuse to sign at the signing table, then we deserve a trip fee plus edoc fee (if any).

You may have trouble collecting a trip fee if it was not explicitly negotiated beforehand.

Reply by BrendaTx on 10/8/06 10:19am
Msg #151007

Re: Trip Fees - I negotiate for a full fee

where I feel it might blindside me...for instance, I long, long trip with a new company.

However, I reserve the right to negotiate it down where it's warranted. I tell them this. I just don't ever want to get into a situation where my fee for a huge investment of time hinges on me getting that loan signed. The "appears" to be a situation where I might be "tempted" to urge a signer to sign and might appear to exert pressure on them to do so.

Last month after negotiating a full fee for a job, due to no fault of my own, there was not a full package of documents. I told the company, just cover my gasoline for that one - $25 will be fine as long as I get the re-sign. The fee was $225.00 so I figured $250 for two trips was okay for 60 miles...not great, but okay.

They were naturally thrilled that they would not have to pay me $450 total for two trips so they offered me the re-sign.

Well, I could not take it b/c of my schedule. My mom was coming into town and I don't miss those precious days with mom...she's getting on up there...so I asked that the signing be sent to a Texas Network member. The SS did not have to but they paid me $50.

Now, once all the numbers were in at the end of the day, I took a trip fee on a 60 mile (120 rt) trip. But, it was MY choice to do it.

When companies treat me like a professional, I act like a professional. When they treat me like I am a dumb@ss who ought to work for peanuts, I decline their offers.

I WANT to be guaranteed full fee just in case I feel it is warranted, but in *no* circumstance have I ever demanded full fee once something went awry--which is very, very seldom. I just ask for the re-sign and then I'll take a trip fee.

However, in most cases I was paid full fee just because the company was a good company who wanted to work with me again and there was no re-sign. There's not a lot of notaries covering the rabbit trails of North Zulch, Texas, you know.

You read a lot bull$hit on this board about what people do and don't do. Once I figured out how the game was played this is how I started working my business. It's fair, and it keeps me in control of my own business.

Reply by Paul_IL on 10/6/06 3:20pm
Msg #150753

Charge full fee regardless of the outcome of the closing!

You did your job and should be fully compensated for your time