Posted by James Dawson on 9/16/10 10:03am
Msg #352867

“highly skilled profession loan signing agents”

Interesting conversation. Yesterday my neighbor called me to ask if I could notarize some Documents. He has applied for a RM and getting ready to finalize everything. He tells me that when they were going over the fees and he saw “notary fees” he thought I’d rather pay my neighbor instead of someone he didn’t know.

The person on the phone told my neighbor he couldn’t do that because not every notary had the skill set to complete the signing. He added that they “contract” to a company who hires “highly skilled profession loan signing agents” to do that. That’s why the notary fee ($250.00) was so high. I dropped the telephone. LOL

Reply by Yoli/CA on 9/16/10 10:22am
Msg #352872

I wonder if that fee covers the original notary who facilitates the application and then whichever notary (may be one and the same) works the final signing. If so, that fee makes sense. If not, I'd sure be interested to know the company they "contract ... who hires highly skilled profession loan signing agents."

I've never handled the whole transaction. All I've been privileged to work is the final signing and my fee was no where close to that!

(privileged because it's an honor to me to work with our senior citizens and listen to their interesting bits of history)

Reply by Linda Juenger on 9/16/10 10:32am
Msg #352875

I have handled both the application and actual signing, and yes, my fee was $250 and the best part was the borrower came to me. He did not want me coming to his home. It took about 3 weeks for all to be finished.

Reply by sanjqnvly on 9/16/10 10:44am
Msg #352877

I agree Yoli the pleasure of meeting the seniors for the RM far outweighs the $ we are paid!

Reply by Kim_CA on 9/16/10 10:51am
Msg #352879

I too have handled both the application and signing and that is in the range I negotiated as well. I'd be interested in finding out the name of the company too.

Reply by James Dawson on 9/16/10 10:49am
Msg #352878

The application part was 1/2 that amount. Like you, I have never done the App and the finalization part. The point I was trying to make was although THAT might be our individual fees, that is not what's being offered to unsuspecting notaries. This company is on Wilshire in L.A. It's been mentioned here before.

Reply by MW/VA on 9/16/10 11:40am
Msg #352886

Your neighbor can request that you handle the signing, but that's no guarantee you'll get it. I'm thinking your neighbor didn't clarify (because he wouldn't know the difference)) that you are a Notary Signing Agent, not just a Notary. We hear that all the time, "Oh, I know someone who is a notary". That doesn't mean they are NSA's. You might find out who the LO is, call them yourself, and find out what tc is handling the transaction.
I had an RM signing yesterday at a local Wells Fargo Mortgage Office. They were very impressed with the level of skills by which I handled the signing, and made comments about other NSA's inferior performance. All in all I love to do RM's.
As far as the fee is concerned, I've never seen a fee of $250. My usual fee the for signing is half that. It used to be $150-$175, but the market has shifted.

Reply by James Dawson on 9/16/10 12:18pm
Msg #352896

It says so on my business card,..he knows what I do....we're neighbors / 28 years.