Posted by TacomaBoy on 12/18/09 2:09pm
Msg #314890

Reduced Fees

Some signing companies and escrow providers threaten to reduce agreed upon notary fees because of mistakes made during the signing. There is even one company that will reduce their fee if a copy of the SS card is not included with returned doc's. Do you even have a SS card? Well, mistakes do indeed happen at times. But, I wonder how clients would feel if all of their (escrow & Mortgage companies) mistakes were penalized? We could all retire to a villa on our own island! How about charging $5.00 per 30 minute delays of doc deliveries that cause us so much stress and delay of other our signings?

Reply by LKT/CA on 12/18/09 2:19pm
Msg #314892

I noticed that the companies I haven't heard from in awhile (previously had a 1+ year working relationship) will call me for a signing, meeting my fee without hesitation, and have a LOT of handholding and babysitting rules on their confirmation that were not there the last time I worked with them. I get phone calls before, during and after the signing. One company even went so far as to include visuals of certain docs. Another company that never before threatened to reduce fees for "missing borrowers signatures or improper notarizations or other Notary errors" now has that in bold letters at the top of their instruction sheet. I was amazed and thought "WOW, WEEEEE!!.

Reply by MikeLewis/AZ on 12/18/09 3:09pm
Msg #314901

It sounds to me like those companies might be hiring two-bit office notaries with no experience to do $40-$50 closings. I'd be very interested to know if it's working out for them or if they're having to deal with a lot of careless mistakes. If they're outlining procedures in caps and bold that are no-brainers to experienced notaries, then my guess is someone's getting headaches from rejected deeds....

Reply by MW/VA on 12/18/09 7:51pm
Msg #314942

I get so annoyed with the babysitting. I had a package again today that had a "sample HUD/VA app", showing the 2 places on p 2 for signatures. I've done hundreds of those (not that the companies know that). The thought always runs through my mind that if they were hiring experienced signing agents, they wouldn't need to do all that. It's a PIA.

Reply by Linda_H/FL on 12/18/09 8:07pm
Msg #314943

I had an instruction in a confirmation the other day

Notary: Please do NOT stamp each page of the note.

Reply by JanetK_CA on 12/18/09 3:59pm
Msg #314910

I've been seeing that, too. An even scarier thought is that some poorly trained notaries who now have some "experience" under their belt are making the same mistakes over and over, not knowing any better.

Reply by Les_CO on 12/18/09 3:40pm
Msg #314907

If I make a mistake….it’s rare, but it can happen. (forget a stamp, miss an initial, etc.) I go back and correct it on my dime. If they want to ‘fine’ me they can go fix it themselves.

Reply by desktopfull on 12/18/09 11:11pm
Msg #314954

It all comes down to the fact that if you accept the assignment you accept the rest of their PIA demands that go with it because they write the check. If you don't like the terms refuse the closing or kick it back. Not complicated at all, lifes to short to worry about the small things.