Posted by Hugh Nations Signing Agents of Austin on 11/30/07 2:27pm
Msg #223813

Conditions for acceptance of assignment

I have, a couple of times in the past, sent the following letter to TCs or SSs when I was a bit concerned about their payment practices. I am considering making it a standard part of my response to an assignment.

For my regular customers, it's unnecessary, since we long ago worked out all of the matters that the letter covers. For others, I recognize that schedulers might be miffed at having the shoe rammed on the other foot, with a signing agent attempting to impose conditions on THEM (a couple of schedulers who got the letter jerked the assignment; I didn't weep). On the other I might lose some of that business, it isn't business that I really want anyway, I think.

Please let me know your thoughts and suggestions.

Dear scheduler:

Thank you for the attached assignment. I think you will be as satisfied with the services of Signing Agents of Austin as our many other customers.

An assignment to SAA is contingent upon the scheduler’s acceptance of the following:

1. Payment of the scheduler’s standard cancellation fee if the assignment is cancelled within two hours of the scheduled time.

2. Payment of the scheduler’s standard travel fee if the signing agent makes the trip but the signing is cancelled.

3. Payment of the full fee if the signing agent makes the trip and the signing begins, but is aborted.

4. Payment of the full fee if the signing is completed, regardless of whether the loan funds.

5. Payment of the full print fee if the documents are printed, regardless of when they are printed.

Please respond to this email indicating your acceptance. The assignment will not be complete until a reply is received.

Thank you for your patronage, and I really look forward to working with you.

HUGH NATIONS
Signing Agents of Austin

Reply by noteclub/MD on 11/30/07 2:39pm
Msg #223814

Hugh Nations,

My two cents (constructive not destructive) says that you could say this in about 75- 100 less words. Also the sentence before the last should read completed.

Reply by Deborah Hicks on 11/30/07 3:04pm
Msg #223818

I like this. Mind if I copy.

Reply by Cynthia/CA on 11/30/07 4:18pm
Msg #223826

I think this is a great idea.

We as notaries are being taken advantage of and its unfair. We probably make the least of anyone in the loan industry chain and are getting treated the worse. Our services are taken for granted.

Reply by Tish/CA on 11/30/07 5:03pm
Msg #223833

Having just been through this nonsense myself, I really like your format and wish I'd had this kind of agreement in place b4 taking the signing I did last night. I don't think it is too long, it's thorough and fair..this is what I was getting at when I talked earlier about standards in our industry. I've never been a proponent of price fixing or anything of the like but I do think it's crazy that we stick our necks out with no firm means of covering ourselves. This is a great step in the right direction. Would you let us know how it goes after implementing?

Reply by Susan Fischer on 11/30/07 4:54pm
Msg #223831

May I offer the following 2 cents worth:

Capitalize Scheduler in the salutation.

1. What if the scheduler has no cancellation policy, standard or otherwise? Perhaps you could set it.
2. Same response. (I don't have one standard travel fee because I cover a large area.)
3-4. What 'full fuel' fee? Do you have a full fuel fee?
5. I.e. printed after notice of cancellation?

As another poster suggested, maybe just shorten the whole thing: "Full fee not dependent upon funding of loan." "Trip fee due if cancelled at the table." [however, some pay full fee in this event...] "Print fee charged in all circumstances."


Just some thoughts.

Reply by JanetLA on 11/30/07 9:22pm
Msg #223848

Great idea...

Do you mind if I use it? I want to add that I should receive payment within 45 days or a late fee will be assessed... Do you think that would be too much?

Reply by Cipa on 12/1/07 12:01pm
Msg #223881

Hugh - wonderful

way to take care of the contingency fee issue on the disinterested party topic.

Reply by Catherine Peterson on 12/1/07 2:01pm
Msg #223888

I think all notaries will HAVE to start sending notices to SS!

Per Proposed Section J 'not suggested by any party the Borrower use the recission period to read Loan Docs.' Read: a whole lot more time at the borrower's house.

And what about 'Suspicious Activities'? I really don't think that we should have to give up half our fee, because we spot something (ie: they really don't live there).
This is a conflict of interest.

Our fees can not be contingent on the signing or funding of the loan! Maybe that should be pointed out to the MBA.

Reply by DianeCipa on 12/1/07 10:30pm
Msg #223935

pointing out fee for services as part of the UCI

Catherine - You are absolutely correct. I think this is a big issue to raise. If state laws or regulations require that notaries be disinterested parties with that distinction being tied to contingency fees, the we've got a real issue that can't be ignored.

In other words, you can't perform the duties asked of you if you are working under a contingency fee.

I think NOW is the time to teach lenders that they should disclose certain fees to consumers up front as payable at the time the service is rendered.

Reply by pan/nd on 12/1/07 7:47pm
Msg #223926

I man be dense or a dunce or both.

But I don't see the letter doing much good if the SS or whomever has already decided to stiff you.

It probably would give you more legal standing should you have to go to court to collect.

But, certainly if a SS doesn't want to pay for whatever reason, the letter won't do diddly.

It may put them on notice that if they don't pay you'll probably take them to court.

But, beyond that..I don't see it doing much of anything.

If it's less hassle you want...the letter in and of itself ...isn't going to cut it.

Much better to be dillegent about which SS or Title Co you say "yes" to..before you say it...than to have to resort to the letter or court to collect.

Reply by MistarellaFL on 12/1/07 8:55pm
Msg #223930

Not that you are wrong about anything you ask for

But it's been my experience that schedulers don't have the authority to accept any of our terms and conditions.

Reply by ReneeK_MI on 12/2/07 10:56am
Msg #223956

That was my first thought, too ...

The bigger the company, the farther away from anyone with the authority to sign and most 'underlings' operate under "Sign NOTHING w/o prior approval" directives.

Reply by SharonMN on 12/2/07 5:13pm
Msg #223978

"Scheduler's" in the first two points noted below should be "signing agent's." Otherwise you may have some scheduler insist you owe them if the signing is cancelled! Also, suggest spelling out these fees ($10? $100? ) or there is no real agreement.

1. Payment of the scheduler’s standard cancellation fee if the assignment is cancelled within two hours of the scheduled time.

2. Payment of the scheduler’s standard travel fee if the signing agent makes the trip but the signing is cancelled.