Posted by GotToGo on 8/9/07 5:49pm
Msg #204798

Contacting Borrowers regarding payment--

Have any of you actually called or contacted the borrower in order to receive payment from a signing company?

Reply by Sylvia_FL on 8/9/07 5:59pm
Msg #204800

No, that would be unprofessional! The borrowers are not responsible and should not be brought into any conflict with a signing company. If you must call someone, call the title company!

Reply by GotToGo on 8/9/07 6:04pm
Msg #204802

Thank you Sylvia--

Reply by GotToGo on 8/9/07 6:05pm
Msg #204804

Actually, I did call title... They said they had paid the SS, just too bad for me I guess.

Reply by Becca_FL on 8/9/07 8:29pm
Msg #204835

With all due respect, Sylvia, I have contacted a borrower on one occasion re: payment. I was hired directly by the loan broker and the broker's office owned the TC doing the deal. I was called to do a 4pm @ EOM back in February. I showed up at 4pm and the borrower said the terms were all wrong. We called and spoke with the broker, but the borrowers (a super nice guy and a super nice lady) decided not to sign.

Two hours later, and two signings later, the broker called me back and said that the HUD had been revised, the docs had been fixed, could I go back out. I said yes, but not until at least 8:30pm. I made it back by 9pm and the borrowers were very happy. I closed the deal and informed the broker.

It was not until 30 days later that I found out that the broker did not agree to my fees. After numerous emails and phone conversations, I sent a SERIOUS collection letter, certified, RRR to the broker, and cc'd the TC, the broker's registered agent, the brokerage owner AND the borrowers. I recieved a call from the borrower saying he would pay me. I told the borrower that it was not up to him to pay me as he had already paid my fee in his closing costs. I was paid for the job w/i one week.

Not normal proceedure, I agree, but I felt justified in doing so.

FYI & FWIW

Reply by docs1954CA on 8/9/07 6:04pm
Msg #204803

I had one signing go south on me.The loan failed to fund for some unknown reason.When I asked the Title company for payment they told me the borrowers were responsible, not them. I advised them that they, not the borrowers contracted with me for the services, so they were responsible. They refused to pay. I took them to small claims court and won.Then they paid not only for the signing costs, but the court fees and the process service to boot. Cost them almost twice as much to fight me, probably more since they had to send their rep to court to argue their losing case.

Reply by GotToGo on 8/9/07 6:06pm
Msg #204805

We are in different states.

Reply by DellaCa on 8/9/07 8:54pm
Msg #204838

I had a signing just today that had a form the borrowers signed saying they would be responsible for payment if the loan did not fund for any reason, they signed it personally I would not have signed it but they did.

Reply by Todd/OH on 8/9/07 7:01pm
Msg #204824

Actually - -

Depending on what state you are in, and assuming nothing else works, you were a contractor performing professional services that benefit the owner. Placing a mechanics lien on the property becomes an option. The amount must be worth your while and it usually isn't. Ohio happens to be a state in which notice must be given and a host of other things must happen. It's a difficult state to do this. But, it is an option.

Calling the borrower about your outstanding invoice? Nah - - never do that.

Reply by GotToGo on 8/9/07 7:24pm
Msg #204825

Re: Thieft of Service

I've heard of that. I've also heard of Thieft of Service. When someone contract you and you are not paid for your services.

Reply by GotToGo on 8/9/07 7:25pm
Msg #204826

Re: Sorry, Theft of Service

I can't spell today.

Reply by NJ_Notary on 8/10/07 5:05pm
Msg #204976

What about ..

What about the basis of quantum meruit? Maybe Kevin can shed some light on this? I may be be way off base with quantum meruit but for some reason its sticking in my head. Sorry in advance if im way off base and wrong and dont know what Im talking about ;-) LOL