Posted by Ilene C. Seidel on 12/2/07 9:53am
Msg #223949
What do you all think?
Since we are having such problems with SS and Title companies getting paid if we were to insist on our name and amount to be listed on the HUD so when the loan funds we are paid off HUD? I know TC Title in Clearwater does this. That way if they don't pay they are violating the state law and we can go to the insurance commissioner. They are more likely to pay us from the escrow account then the operating account to avoid any violation.
Or especially for SS companies ask for payment thru paypal up front as a general rule for all signings.
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Reply by CTS10866 on 12/2/07 10:20am
Msg #223953
Re: What do you all think? (Paypal comment)
Great talking points. It never occured to me to use my paypal account for notary/courier assignments. I've got Virtual Terminal Pro with my merchant account with them as well. If there is a problem or a bogus charge-back, they step in and deal with the credit card companies on your behalf. I'm going to ty this with my next two car accident insurance release packages.
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Reply by Lisa Prestegard on 12/2/07 10:26am
Msg #223954
Paypal and chargebacks
I've used PayPal as a method of pre-payment when accepting assignments from Mortgage Brokers directly (as they seem to "forget" payment often) and have been charged back both times. While PayPal WILL go to bat for you and deal with the credit card issuer, remember that the final decision rests with the deadbeat's credit card company. Now, who do you think they're going to strive to please?
As for being listed on the HUD, it is something I request on each assignment. However, such as in the case of EFS, if the TC is going broke and plans on closing their doors, they aren't going to be concerned with a few RESPA violations (such as not disbursing according to the HUD).
I am becoming more disenchanted by the business practices of these TC's with each passing day. Almost half the TC's on my extensive list are no longer in operation 
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Reply by CTS10866 on 12/2/07 11:01am
Msg #223958
Re: Paypal and chargebacks
If you have a contract, the credit card company will eventually rule in your favor. I had an AZ attorney who initiated a $1250 Amex charge back the same day the goods were delivered to the address on file because his son used the company credit card to purchase gold bars from my online store. He claimed it would be a cold day in h@#$ before he paid the bill and I saw my money. I sent two emails requesting payment, then forwarded the contracts with the emails and proof of delivery (a) to the dad's company address and (b) with a secretary's signature for the insured mail. Amex refunded the account, the 30 year old "kid" he claimed I took advantage of was kicked off ebay and daddy had to eat his words and worry about the torts of interf w a business contract, def, libel and slander based upon the threats contained in his emails and initiating a bogus Amex complaint. You can also go after the "chargeback offender" for the costs of fees, time and other reasonable reimbursements to get the money that was originally due you if the action was unwarranted. In NY, the eCourt pdf files make it relatively easy to file a motion for summary judgement in small claims court, especially if you have a prima facie case. Court clerks are extremely helpful and resourceful. Use them. They will save you lots of money. Because I know the value of having an attorney inquire on your behalf, I also joined pre-paid legal services to deal with Notary non-payment issues ($25 per month tax write off). Believe me, if a deadbeat company found a marshall or sheriff standing at their door with a court order to seize property to pay for a judgement award, this nonsense would slow down, if not stop altogether. My neighbor is a notary as well. She got a judgement against a guy who refused to pay, filled out a pdf court form and gave it to the deputy sheriff who prompty querried all of the neighborhood banks, found an account with money in it and used the court order to debit the funds and immediately pay her. Every state has their court information online. Take advantage of the information and use it carefully. Pro Se or attorney is up to you. (I suggest going for the free consultation or joining a reasonable law program like pre-paid legal.)
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Reply by Charles_Ca on 12/2/07 12:18pm
Msg #223964
Re: Paypal and chargebacks - Good Points
becasue of the ltigiousness of the American people I have seen a sharp increase in my pre-paid legal sales. I offer pre-paid legal to my insurance and financial services clients and it has worked very well for them.
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Reply by Charles_Ca on 12/2/07 12:18pm
Msg #223965
Re: Paypal and chargebacks - Good Points
becasue of the ltigiousness of the American people I have seen a sharp increase in my pre-paid legal sales. I offer pre-paid legal to my insurance and financial services clients and it has worked very well for them.
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Reply by Charles_Ca on 12/2/07 12:21pm
Msg #223966
Double post, sorry! n/m
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Reply by ReneeK_MI on 12/2/07 10:59am
Msg #223957
Double-edged sword, being named on the Hud. I love it, personally - but I also have to accept (and do) that I won't be paid if the loan rescinds. I accept that w/out hesitation BECAUSE I have yet to have it happen in the last 2 years. If it does - I'm good with it.
When I hit a string of them in '05, I quit closing that mtg broker's loans - that's where the problems were stemming from, not the lender and not the settlement agent.
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Reply by Cynthia/CA on 12/2/07 11:08am
Msg #223959
Ilene, going forward unless the SS or the Title Co is one of my regular clients that is the exact request that I am going to make to them. There are too many notaries getting burned from SS companies while they are collecting from title or escrow and we are not getting paid. If the SS or title co. does not accept those terms, what have we lost - nothing. They are probably one of the companies that would not have paid anyway.
On the other hand, if the Title co goes out of business, I can accept that a lot better than someone who won't pay the notary that they hired to complete the loan.
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Reply by Lee/AR on 12/2/07 11:20am
Msg #223960
I've been burned, but when dealing with a new co., we must behave like a business. Check 'em on on boards, read & heed. I can think of no other business where it sometimes seems that every client is just automatically 'trusted until proven otherwise.' Not being paid is part of being a self-employed person, but, as such, it is UP TO YOU to protect yourself--whatever it takes. If enough of us refuse to work with the weasels, the weasels will go out of business. Or the weasels will contribute to the unbusinesslike person's going out of business. Into which category are you putting yourself?
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Reply by Demore on 12/2/07 1:45pm
Msg #223970
I support your reasons and sway your provocative and convincing line of reasoning.
It is understandable that something need to be established to respect a notary public fee. At the time that am participating and reading members¡¦ discussions about default payment from vendors which it is somewhat an issue to be extremely important and/or needs someone¡¦s consideration to repair this type of insult to a notary public.
I have wrote in my profile and am serious about that a notary public is a sworn public official of the state, and as such is permitted and restored for the withholding and/or nonpayment of notarial services which constitutes theft, punishable as a civil act. Then, hereinafter called Commitment) within _____ days from the date here of and acknowledges . . .
Think about it and hope it helps! -ļ
La Vida E¡¦Bella!
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Reply by sue_pa on 12/2/07 2:21pm
Msg #223974
I think
you all will be out of business very quickly because you won't have any clients
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Reply by CaliNotary on 12/2/07 5:02pm
Msg #223977
The most sensible post in this thread n/m
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Reply by Ernest__CT on 12/2/07 7:12pm
Msg #223985
I'm with sue_pa and CaliNotary. n/m
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Reply by CTS10866 on 12/2/07 7:19pm
Msg #223986
Re: I think
Hi Sue. Very interesting view (smile).
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Reply by Linda_H/FL on 12/2/07 3:28pm
Msg #223976
Re: I like being listed on the HUD, but
that doesn't mean it always happens - as long as I can come to a comfortable agreement with the people contracting my services (TC and SS alike), I'm okay with not being listed and I'll continue with that practice. I'll ask to be put on the HUD, but if I'm not it's not a deal-breaker. Personally, I'd prefer the borrower NOT know what I make on their signing. So far, thankfully, I haven't had anywhere near the collection problems I read about on here - guess I'm just very lucky in that I've worked with some very good companies - my tune may change if I start running into all of the problems some of you have had.
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Reply by Demore on 12/2/07 6:07pm
Msg #223981
Re: I like being listed on the HUD, but
Hi! Linda,
Hi! Linda,
I concur with you. I have more than one signer trying me by asking me how much I have been paid to get to their assignment table. I paused for a second and answered by telling them to focus on the signing and that I have instructions to follow up.
Also, I have made my mind if she continues with such a ridiculous question. Also, I am get ting ready to have a different approach from the signing table by call the company who hired me to report the episode.
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Reply by BrendaTx on 12/2/07 6:13pm
Msg #223982
Re: I like being listed on the HUD, but
Just use Sylvia's line: "Sometimes I make as much as $35 per appointment."
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Reply by Sylvia_FL on 12/2/07 6:44pm
Msg #223983
Re: I like being listed on the HUD, but
""Sometimes I make as much as $35 per appointment"
Actually it is part of my response to borrowers who think becoming a notary and doing loan signings would be something they would want to do.
I point out everything they need (Laser printer, fax machine etc) and how expensive it can be. Then I mention that some companies are willing to pay $35 per signing.
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Reply by BrendaTx on 12/2/07 7:12pm
Msg #223984
Thanks for the correction, Sylvia...I knew it was something
of that nature.
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