Posted by SDgirl_CA on 5/21/08 3:19pm
Msg #248265

Request from SS

I got a call from a SS that I have completed many signings for with an odd request. I need some suggestions on how to proceed.

SS asked that I bill escrow company directly (this was 1 week after completed) because they were having trouble collecting. This SS has most of their signings closed by this escrow company. They asked me to bill escrow double my usual fee.. and then send a check to the SS for their half. I said yes only because I want to get paid. I emailed invoice to escrow and just got my check (2 days later).

This just feels suspicious to me. Do you think I should ask the escrow officer what is going on? Why they would pay me but not the SS? I must close at least 6 files a month from this particular escrow company but through the SS.

Any comments?

Reply by Sylvia_FL on 5/21/08 3:22pm
Msg #248266

That does seem strange - unless the SS doesn't want a record of the transaction from the escrow company to avoid taxes (they may be doing it with several notaries). Just a thought.

Reply by Catnip/ID on 5/21/08 3:33pm
Msg #248267

Or the SS owes a bunch of Notaries money and they have called the Escrow Company who now chooses not to use Signing Services anymore.

Reply by Vince/KS on 5/22/08 10:33am
Msg #248346

SDGirl will need to send a 1099 to the signing service if

the stated frequency continues - does she want to be "the contractor"?

Reply by MW/VA on 5/21/08 4:00pm
Msg #248276

I can't believe you agreed to that. If they tell you that they are having trouble collecting from the escrow company & are going to let you handle the hassle and then send them their money. How did they manage to gets things in reverse here? I know things are very tough in CA, but how desperate is this?

Reply by nolanotary on 5/21/08 4:31pm
Msg #248286

You should contact the TC and just have them contact you directly with closings in your area and bypass the SS. Your fee will be better and you will not have problems getting paid through the SS. Obviously the SS has some problems which will eventually spill over to their signing agents. Jump ship and grab your life preserver.

Reply by ZeeCA on 5/21/08 7:33pm
Msg #248305

hmmm you get the check for double ... keep doing this and

at the end of the year you get to pay their taxes which will add up if they have you do this all the time....

this sounds too weird and major unethical... why are they trying to hide $$$? Maybe a court order for child support? or ? or ? or?????

jmo

Reply by SoCal Signing Co. on 5/21/08 7:51pm
Msg #248308

OR

It could be something else, I never receive a 1099 from title/escrow companies, remember escrow pay with borrowers money not escrow/titles money. So its not a case of having you pay their taxes.
There could be a few different reasons, and some might be very logical. But it could be they had some complaints with this escrow, and the escrow wants to assure less liability by paying the signing agent directly.

And cleary you were paid.
I have had escrow companies tell me they have to pay the notary directly as its their policy. Although this is very rare it could be other reasons.
Why are you concerned? you did the job, and you got paid. So now you send the SS their money and your done.
If you want to market this client , go for it. (unless you signed an agreement of non compete)
LB

Reply by ChristineHI on 5/21/08 8:01pm
Msg #248310

Weird

I probably would have done it once too so I got paid, but I would not do it regularly.
Technically, you got paid that and would have to pay taxes on that income.
I just would not do that again....just strange. I would have asked why as well, though. I am that type of person though...I want to know "why"?

Reply by JanetK_CA on 5/22/08 2:13am
Msg #248322

Re: Weird

I imagine that the amount paid out would be subtracted from income earned, so I don't think taxes would have to be paid on the full amount. But the question in my mind is why are they taking half if the notary is doing their part of the job, too?! Something doesn't smell right about this to me, either!

Reply by ZeeCA on 5/21/08 8:41pm
Msg #248313

MO: if a noncompete they voided the contract by having you

collect the $$$

again... jmo

Reply by jba/fl on 5/21/08 8:56pm
Msg #248314

Re: hmmm you get the check for double ... keep doing this and

Sounds like one of those email scams: you help me cash this check, send me my portion and keep the rest, then the check bounces and you are out all over, only now for their portion too. Just be sure it is collected funds prior to turning over their half, minus your service/handling fee (what, 50% since they were going to take 50% of you to begin? whatever...strange)

Reply by jba/fl on 5/21/08 8:57pm
Msg #248315

PS: you could even hold the money for 30 days, 45, 60? n/m

Reply by SDgirl_CA on 5/22/08 10:24am
Msg #248344

Re: Request from SS UPDATE

Thanks for your comments! I did contact SS and will be sending them "their half". I did ask why ...since it was not logical to me that they were having trouble collecting when i was paid in 2 days. I was told by owner of SS that the owner has a personal relationship with borrower and did not want the SS name to show on the Final Closing Statement to avoid personal feelings of how much they charge; and the borrower was not informed that the SS had a access to their docs. In other words they did not want borrower to know of the 3rd party invlovement at all. I told them their check is in the mail but I will not make a habit of this. SS was very appreciative and I feel better that I asked.

Reply by jba/fl on 5/22/08 10:52am
Msg #248349

Re: Request from SS UPDATE

I would still be sure that the check clears completely prior to sending. JMO