Posted by jojo_MN on 9/18/07 9:34am
Msg #211734

Closeline - Rockville, MD - DO NOT WORK FOR THEM

I did a closing for them on 2/7/07. Two loans, almost 500 pages including borrowers copies. I was asked to bill them for the FedEx shipping. After the closing I had faxbacks. I drove to the customers house and spent over an hour and a half there. As you can see, I put a lot of time and money into this transaction. They owe me $207.52. Talk about theft of services.

The borrower rescinded. They are refusing to pay because they said I signed a contract stating that I don't get paid if it rescinds. I DID NOT SIGN ONE. They said, "I will pay you more if you close more loans for us in your area. " "No other notaries have an issue with our payment policy". WOW !!!

Reply by CJ on 9/18/07 9:36am
Msg #211736

Closeline . . .

There seems to be a "just hang them out to dry" joke in here somewhere.

Reply by janCA on 9/18/07 10:57am
Msg #211749

Re: Closeline . . .

It is usually stated on the confirmation that if the loan rescinds, you are not paid. Did you sign the confirmation, and if not, have them fax you the "supposed" signed contract.

Reply by jojo_MN on 9/18/07 12:12pm
Msg #211761

Re: Closeline . . .

No. I told them that I would not work for them if they didn't pay cancelled loans once I made the trip. They sent me the docs anyway. So I did the closing. I quit signing contracts four years ago for companies with that policy.

Reply by Sylvia_FL on 9/18/07 12:28pm
Msg #211764

Re: Closeline . . .

After they had sent me the docs I would have contacted them and reiterated that you had to be paid if you did the signing, and if they didn't send confirmation of that then they could have someone pick up the docs from you as you would not do the signing under the conditions they set.

Reply by Todd/OH on 9/18/07 1:07pm
Msg #211773

Re: Closeline . . .

Once you accept the docs AND do the closing, you are essentially agreeing to their terms.

Reply by Above and Beyond Closings - Alice on 9/18/07 6:25pm
Msg #211831

I do several closings for Closeline. Their "terms" are located in a link format in the confirmation email that they send to you. They are usually last minute with their docs but they are actually really nice people to do business with. I too have experienced the loan not closing and me not getting paid but they make it up on the next couple of loans for you. Instead of paying $100 for a closing they would give you 2 at $150 each to make up for what you lost. I don't always agree with this policy but they have always made good on what they promised.

Reply by Teresa/FL on 9/18/07 7:22pm
Msg #211844

If they are making enough margin on each closing to pay you

an additional fee for subsequent closings, they should just pay you for the no-sign when it happens instead of later.

Their current policy gives you an interest in whether the loan closes or not and is not a good practice.

If you know you will be paid, whether the loan closes or not, you will be more likely to accept assignments from them.

Reply by jojo_MN on 9/18/07 8:23pm
Msg #211855

Re: If they are making enough margin on each closing to pay you

Exactly my point. They don't do business very often in my part of the country, so I may never have a chance to get the money back. I also asked them if I would get paid if the NEXT customer rescinds. Of course, their answer was "well, no--we don't pay if it doesn't fund".

I paid over $60 in out-of-pocket expenses for that closing after taking in consideration two loan packages (each a full set of docs), the gas to get there and to top it off, the FedEx charges (expensive since it was two large sets of docs being sent back).

Like Teresa pointed out--it makes us an interested party if our fee depends on whether or not the loan funds.

Reply by Teresa/FL on 9/18/07 9:19pm
Msg #211865

You paid the FedEx charges and are not being reimbursed? n/m