Posted by Marsha Group W Consulting, LLC on 4/18/11 2:00pm
Msg #380268
National Loan Closings
I did a closing for National Loan Closings on 1/26/2011 and still not paid. They do not respond to emails or faxes. Anybody else having problems getting paid by them?
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Reply by Eva75Eva on 4/18/11 2:37pm
Msg #380274
Are you referring to National Loan Closings out of Iowa?
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Reply by Marsha Group W Consulting, LLC on 4/18/11 2:47pm
Msg #380276
yes
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Reply by Eva75Eva on 4/21/11 10:09am
Msg #380809
Thanks. Sorry for the delay. I had done many closings for this company and usually invoiced them at the end of the month. Although pay is slow, it does eventually come. I just recently received an option to sign up for direct deposit and went ahead with that. Hopefully that will speed things up a bit. Otherwise, I admit, waiting 45-60 days to be paid is getting old.
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Reply by David Bonner on 4/18/11 2:59pm
Msg #380277
Send them an email telling them you will take the borrowers to small claims court unless you receive a check in 10 days. Be sure to add late fees to your request. Anything over 30 days is past due. Everytime I threaten to sue the clients I get checks very quickly. Last thing they want is for the client to be sued. I also get my late fees of $15 per month too. Good luck. Sucks when they try to stiff you.
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Reply by Linda_H/FL on 4/18/11 3:05pm
Msg #380278
I strongly suggest you don't use that tactic
"Send them an email telling them you will take the borrowers to small claims court unless you receive a check in 10 days."
Unless you want to give them a good laugh - you have no recourse against the borrowers - and they know that. Borrowers have paid your fee. Your gripe is with title and/or the company that hired you...not the borrowers.
By the way, borrowers are not their client - title companies are...
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Reply by Saul Leibowitz on 4/18/11 3:45pm
Msg #380285
2 things
1. Linda's correct;
2. They always pay me on time which is the end of the month following the closing. You did a late January closing and should have been paid end of February. Give them a call and ask about this file; if you have a continuing problem shoot me a p/m tomorrow.
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Reply by mwm143 on 4/18/11 4:48pm
Msg #380295
It's been a while, but I recall they have an online invoice policy or something of that nature.
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