Posted by snoopdogMs on 6/3/11 8:18pm
Msg #385127

Has anyone done one of these? Hope this has not been

previously discussed. This post is in reference to a 'company"' that is hired by lender to go over documents with the borrower i.e. another piece of the pie taken out. I get a call (good title company) for a closing where at 4pm the borrower will go over the documents with some service and then at 5pm I will go and notarize documents with no explanations necessary. The fee is $60, no printing. I asked title about this, and they said that the lender is hiring someone to call at 4pm to go over the documents while the borrowers sign and that lender wanted the borrower to go to UPS for their notarization's. Title did not like the idea (they said) and said they would find one of their notaries. I looked on the HUD and down in the title services on one line item it said "signer" but no fee listed. Out next to "signer" it said Eagle Consulting Services. Anyone heard of them? The title was getting $600 POC for settlement and closing and $585 for other services. My state allows $5 per signature and there were about 20 signatures and I drove 25 miles total , 1 hr. total driving, signing, back home.

Reply by Lavergne Manuel on 6/3/11 8:51pm
Msg #385128

I did one yesterday also at 4:00. It was supposed to be done at her home but she wound up in the hospital and they have to keep her several days to do tests and she wanted to go ahead and do it so the doctor signed a statement saying that she was capable of making decisions and capable of doing the signings so I went to the hospital and notarized the documents only and came back home. The hospital was 40 miles farther than her home for a total of 100 miles one way. They paid my full fee minus the $25.00 print fee because the only thing I printed out was my confirmation. I would like to get a bunch more like that.

Reply by Lavergne Manuel on 6/3/11 8:53pm
Msg #385129

I meant I notarized her signature on the documents. There were 10 notarizations.

Reply by snoopdogMs on 6/3/11 9:09pm
Msg #385131

Might this "signer" be an individual in a law firm

or what might be the qualification of this "signer" on the HUD who explained the document? It was not the LO.

Reply by Lavergne Manuel on 6/3/11 10:25pm
Msg #385137

Re: Might this "signer" be an individual in a law firm

I have done signings before where someone from the Mortgage Company explained the docs to the borrower but I was there and it was a conference call and I could talk to the person. This was done before I got there so I don't know who it was. The Title Company who hired me told me they had to find out if the person who was to explain the docs could do it at 3:00 pm before I called to confirm my appointment at 4:00 pm and I did not ask who it was. I was so glad that they agreed to my full fee for so little work that I didn't really care.

Reply by JanetK_CA on 6/3/11 11:16pm
Msg #385143

This is a sad commentary on our business

Unless these people ARE LOs or attorneys, it seems to me that the implication is that NSAs are being perceived as incapable of walking a borrower through a loan package or they don't want to take the chance. So they've figured out a way where all they need is a "point-and-sign" notary. Very sad...

Reply by Lavergne Manuel on 6/4/11 7:32am
Msg #385150

Re: This is a sad commentary on our business

I have done quite a bit of work for this Title Company and they may be trying out something new by doing this. But I don't think I was treated as a point and sign notary since they paid my full fee. So if they paid someone who is not being already paid by Title or the lender, then they paid a lot of extra money.

Even though I was not required to do so, I went through the package again to make sure they had not skipped anything and they had not. This was a Reverse Mortgage and it could be that too many errors are being made by some of these signing agents who claim to know everything and do perfect work all the time.

If you do good work, you do not have to brag about it. The people who pay you know who you are and they are the only ones that matter.

Reply by Notarysigner on 6/4/11 8:34am
Msg #385157

Re: This is a sad commentary on our business

Well since someone is "suppose"to go over the HUD1 with the borrower maybe title is having someone go over the rest of the Docs at the same time. It wouldn't be hard to do, hire a notary and have them sit at a desk and go over Docs all day long over the telephone. Like Linda says (I believe) may they had problems with notaries and trying to bypass the NSA process.

Reply by Linda_H/FL on 6/4/11 7:41am
Msg #385153

Maybe the company has had issues with notaries

and signing agents and has decided to take a positive approach and fix it.

This makes it no longer a loan signing but a general notary appointment where, IMO, I'd ask that all docs requiring notarization be placed on top, I'm in, identify, notarize and leave. I would not go over any of the docs with them (nor would I have looked at the HUD - not my business)

Fee for me in FL would be based on $10/notarization (I'd probably discount after the first few certs - not full fee for all), travel to and from appointment, and if they expect me to drop the package then additional travel fee for that plus a "courier" charge. So here (I'll assume husband and wife) 10 certs plus travel, time, no printing, - minimum $100 for this job...FOR ME

Honestly? I like this idea.

MHO

Reply by Lee/AR on 6/4/11 8:12am
Msg #385154

$60 is what was offered & accepted n/m

Reply by Linda_H/FL on 6/4/11 8:22am
Msg #385155

I know Lee - based, I'd suppose, on her state's

allowable fees - you'll notice I said in FL, for me, the fee would be....