Posted by Rosemarie Martin on 10/3/06 8:26am
Msg #149918

no signs

I am wondering, I fulfilled all the requirements of tc including going to the appt. last minute- late at night TC offered me more money to do it last minute. Paperwork was not as bwr expected- result no sign. Should we expect to be paid the full fee, sign or not as long as it is not our fault?

Thanks for your replies

Reply by Jersey_Boy on 10/3/06 8:52am
Msg #149923

Do you have the borrower complete and sign a "refusal to sign" sheet?

I have found this to be quite helpful in collecting payment on no-signs.
PAW offers one on his website. Here is the link:

http://www.pawnotary.com/forms/Notice%20of%20Refusal%20to%20Sign.pdf

PS-- Thanks PAW...

Reply by Poppy on 10/3/06 9:12am
Msg #149924

Rosemarie,

It varies a couple TC's I work for won't pay at all if it's a no sign or if for some reason it doesn't close. (borrower recinds etc.)
Reason being they don't get paid. I get paid top dollar working with both of these companies and receive a decent amount of work from them so it's a risk I'm willing to take. Most of the deals go through so it works out for me. But that is a choice you will have to make on your own.
Another TC I work for pays 50% for no sign, no show, or a no close for whatever reason. However they don't pay nearly as well... Better than a signing service though and a lot less hassle...

It's best to work this out before you take a signing makes things a lot easier...

OT: BTW: Rosemarie are you by any chance in Northern CA?

Reply by Poppy on 10/3/06 9:24am
Msg #149926

Another point I should have made, is that both TC's that I

work for that don't pay for no signs will if it's rescheduled re-hire me and up the fee for the borrower. Usually by 50%.

Reply by Teddog/CO on 10/3/06 9:17am
Msg #149925

Rosemary,

I can only speak for myself. If I print, make the trip and then durning the course of signing bwr decides not to sign. I charge my full fee. Under the circumstances that you took the assignment (last minute) charge your full fee. We have done our job. I find all to often that it's the LO or doc prep. that has messed up. Incorrect interest rates, incorrect terms etc,... you name it I've seen it. You do your job and you should be paid.

Reply by Poppy on 10/3/06 9:31am
Msg #149927

Teddog is 100% correct. We should get paid 100% but

that's not always the case. We do however get to decide based on the companies policy as to whether or not we want to work with them.
In your case Rosemarie you could choose to bill them 100% especially since they did not inform you ahead of time of their policy. Or if you want to build a longterm relationship with them ask them what their policy on no signs is and if your happy with it bill accordingly. If you're not happy with it you need to make a choice as to whether or not you want to work with them again in the future.

Reply by Jason on 10/3/06 10:32am
Msg #149944

Go over terms w/ brwr before printing, driving

Around 2/3 of loans in my area are no sign due to surprises at table.

Lying LOs are cause every time.

Driving distances are huge here. No signs cost me lots of time + gas.

2 co's I work for never lie. I don't review terms b4 appt for their loans.

Reply by kathy/ca on 10/3/06 10:44am
Msg #149951

They should put their no sign policy on your confirmation,

at which time, I ask them to either add in a clause saying I wil be paid full fee whether loan is signed/closes or not, or find another notary. Each time they have agreed to pay me in full. If they did not disclose this upfront, I would be agreeable to be open to what they are willing to pay me, with the expectation of getting 50% at least.

Reply by Rosemarie Martin on 10/3/06 1:12pm
Msg #149980

Re: They should put their no sign policy on your confirmation,

Thanks this is helpful ...