Posted by Larry/Ca on 3/3/07 12:11am
Msg #178014

Borrower calls

He said he was sent his loan docs and told to find a notary. I have had several of these recently. I forgot who the lenders were. Are others seeing an upswing in these lately?

Reply by christiSocal on 3/3/07 12:15am
Msg #178016

I've done a couple of Wells Fargos like that. But that was awhile ago.

Reply by Stamper_WI on 3/3/07 12:37am
Msg #178019

I think it was Wells Fargo that used to talk them through the signing. When I got there all I had to do was notarize.

Reply by sandi/WA on 3/3/07 5:56am
Msg #178035

Yes, I have had one recently also. Not a bad deal.

Reply by bfd110_IN on 3/3/07 8:04am
Msg #178058

I had a heloc that I did that the borrowers told me that the lender ask them if they knew a notary. It was an E-Loan deal.

Reply by Sylvia_FL on 3/3/07 9:12am
Msg #178065

I had one call me yesterday. Said she needed a notary and what my fees were - she woud come to me. I told her I charge the fees allowed by the State of Florida, which is $10 per notarial act. She said there was more than one document that needed notarizing. I told her I would charge $5 for all others after the first one. She then said it was a Home Equity loan from USAA. I told her there are very few docs in that one that needed signatures notarizing and it shouldn't cost her more than $30 at the fees I quoted her. She said thanks but she really didn't want to spend a bundle just to get the docs notarized so she would check with a friend who is a notary and have the friend take care of it.

I get calls almost daily for regular notary work and lately once they get the $10 per notarization fee they don't bother coming over. I actually had one lady come over one time, I did the two notarizations and charged her $15 - first was $10 and I did the second one for $5. She paid me but said she had a cousin who was a notary and she never charged her anything.
Then on the upper side I have had those who didn't think my fee was enough and have paid me extra.

Reply by Janet Sobers on 3/3/07 2:06pm
Msg #178133

Just an interesting aside. In Louisiana we have no maximum fees. We are able to prepare docs, including wills and mortgages, and can charge for the same. We can do a will for a person and notarize it and charge $250 or more, depending on the complexity. On the downside, the test to become a notary here is a bit much, takes four hours and TONS of studying. I didn't realize that other states had maximum fees, although I was and remain keenly aware of the differences between civil law notaries and others. People say that our abilities here are more like paralegals in other states. Have a good weekend!

Reply by MelissaM_FL on 3/3/07 6:05pm
Msg #178172

I get calls for loan doc notarizations from borrowers about once a week. I always quote them $10 per notarization and offer to come to them for a minimal trip charge, especially since I'm on the road more than at home (where my office is located). My occupational license actually specifies that I do not use my home office to see customers, so I try not to have people come to me if possible. Don't want to lose my occ license!

Reply by LawrenceOK on 3/3/07 9:44am
Msg #178069

Yes Larry, I have had 3 calls like this this week. The bummer is I can only charge per notarized act and a travel fee. But it's money in the pocket when I walk out the door.

Reply by BetsyMI on 3/3/07 9:48am
Msg #178072

I also have numerous calls for notarizations and I always state my Michigan allowed fee of $10 per notarization plus minimal travel fee, and it's rare that anyone takes me up on it.

I guess people don't think our time is valuable. For me it's an annoyance to have to get out of jeans and get 'dressed' just so I can drive somewhere to meet someone looking businesslike and earn a whole $10 or $20. Not worth the time, and they are welcome to find someone who will do it for free.

Reply by LawrenceOK on 3/3/07 10:07am
Msg #178083

Mine seem to be mostly on the weekends and in my rural area, there are not many places to go to get your loan docs notarized. Banks won't do them due to possible conflicts of interest and you sure wouldn't walk into a tag agency expecting them to do it. When I tell these callers that I do this full time for TC's and Lenders, they are more then glad to have me come out to them.

Reply by Laura Vestanen on 3/3/07 12:31pm
Msg #178119

Re: Borrower was told to find notary

I love these. I have a piggyback coming at 11am.

No late eDocs. No FedEx drop. No driving all over heck and back.

Even if I give a discount for total number of notarizations, the pay is better than work through TCs.

Reply by ewing2surf on 3/3/07 12:52pm
Msg #178123

Without going into too much detail I had a client call me off my ad to meet at a house in Del Mar. The signer and his family were staying there while purchasing a house in Rancho Santa Fe for 5.6 million. The lender had overnighted the loan docs to him with preprinted instructions to call a mobile notary. This was a PURCHASE and there was a point to the loan broker on the settlement statement but no one there at the house but the borrower and I.

Reply by Ilona_OH on 3/3/07 2:35pm
Msg #178137

In Ohio it's 1.50 &2.00.Never make a living like that. n/m

Reply by LawrenceOK on 3/3/07 4:26pm
Msg #178163

Re: In Ohio it's 1.50 &2.00.Never make a living like that.

In Oklahoma it's $5.00 per signature (per SOS) and an agreed to travel fee. Meaning that the travel fee must be negotiated and agreed to by both parties. I've walked out of a few borrowers homes with a $100 bill in my pocket more then once.

Reply by Roger_OH on 3/3/07 7:43pm
Msg #178181

Re: In Ohio it's 1.50 & 2.00. It complements my loan work;

car titles, insurance claims, immigration papers, adoption documents, affidavits, etc all can add up to be fairly lucrative with travel fees and if you plan your geography well. I provide a public service and meet a number of interesting people (some more than others!!) along the way. I'm the only mobile notary in the Yellow Pages for a metro area of a million people, so it keeps me hopping and happy along with the loan signings. I get some hits off of PAW's car sign as well.

Reply by moburkes on 3/5/07 12:55pm
Msg #178324

Re: In Ohio it's 1.50 & 2.00. It complements my loan work;

Roger, what city are you in? I'm in Cleveland. Just curious to know if I can see how you're doing this. I'm finally at the point where I'm getting ready to turn this into a full-time occupation along with inspections. Thanks!