Posted by wildflower on 10/18/11 12:09am
Msg #400805

I need my cash in my hand!

My parents have had a couple of refinancings& I have noticed that they always make sure they have a check payable to the SA- so my question is why are SA & Notaries waiting up & past 30 days to get paid? Is this the norm -can I ask for payment up front?

Reply by Buddy Young on 10/18/11 12:47am
Msg #400806

Usually when we do a closing, a Signing Service assigns us the order. The title company contacts the signing service to secure a notary to do the job. The title company pays the signing service and the signing service pays us. Yes some of the signing services, SS, taks a while to pay and we sometimes have to send them a reminder.

I don't know what your parents situation is or was and why they paid the notary.

Reply by Buddy Young on 10/18/11 12:50am
Msg #400807

You're parents may have had a check for the title company, TC.

It would be nice to be paid for work up front, but the only time I've seen that happen is when a SS who has a history of no pay or late pay, contacts me and the only way I'll do the job is to have them pay me first. Like maybe paypal.

Reply by Glenn Strickler on 10/18/11 1:39am
Msg #400809

Some lenders Fedex the loan docs to the borrower, then the borrower will look for and hire a notary. In that case, you would get paid at the table. If you are hired by a TC, SS or lender, you are going to wait.

Reply by MW/VA on 10/18/11 8:38am
Msg #400823

IMO you have a lot to learn about this biz. We do not

get paid directly at a loan signing. We are independent contractors, need to bill our hiring party (whether ss or tc) and wait for payment. This would be a dream job if the bo's paid us directly, but that isn't the case.
If we do general notary work we are paid immediately.
My best advice is to do a lot of research and reading on this forum. I think you have a complete misconception about the financial rewards in this biz. It's a tough biz, and I often question whether it's worth it or not? I just shredded about 300 pages of docs that were printed for a signing that was postponed. Yes, I did the signing & was paid a print fee, but it was hardly worth the effort.

Reply by wildflower on 10/18/11 9:52am
Msg #400826

Re: IMO you have a lot to learn about this biz. We do not

I am merely asking a question based on the examples that I have seen MW. As I have stated before finance is not my objective I have a blessed income source & I doing this for kicks & to help others, but I do appreciate the advice & that is why I am questioning the way things are done because of what I have witnessed. I think it is utterly ridiculous that any of you (us) should have to wait 30 days for payment, especially if a payment is given at the time of signing or if the company collects a payment from the client, then again I am just getting an understanding of how this stuff is done! LOL IMO (what does it mean please

Reply by HisHughness on 10/18/11 10:03am
Msg #400827

Re: IMO you have a lot to learn about this biz. We do not

***I doing this for kicks & to help others***

That sounds great! Let me suggest an alternative, though, that won't take away income from signing agents who actually do this for a living. My place can use a cleaning, so how about coming over and swabbing out my toilets? That would be really big in the "helping others" category, and I can supply a few gentle boots in the butt while you're bending over the toilet.

I just love it when things work out.

Reply by wildflower on 10/18/11 10:24am
Msg #400835

Re: IMO you have a lot to learn about this biz. We do not

Your Hughness-thnx but no thnx you can clean the (S)UGGA (H)ONEY & (I)CE (T)EA from your own toilet & dust the cobwebs out of your own nest! (LMBO) & trust there will be NO BOOTS IN MY BUTT & no BENDING OVER anyone else's Sugga Honey Ice Tea because it looks like your toilet has overflowed!!!!!!! How do I love you so!!!!!!!!!LMBO!

Reply by Linda_H/FL on 10/18/11 10:11am
Msg #400831

Just doing this for kicks...

then why ask "Is this the norm -can I ask for payment up front".....chalk it up to "kicks"

Reply by wildflower on 10/18/11 10:18am
Msg #400832

Re: Just doing this for kicks...

just because I do it for kicks doesn't mean that I can't get paid & doesn't mean that these funds are not allocated some where else!

Reply by Buddy Young on 10/18/11 10:50am
Msg #400841

Re: Wildflower, you're going to be fun on this forum n/m

Reply by wildflower on 10/18/11 10:32am
Msg #400836

Re: Just doing this for kicks...

because I enjoy what I do in every aspect of my life. Your work should not merely just be a job to you. Breathe, enjoy it & life too! My line of work will never take away from anyone else because what is meant for me is for me & what is meant for you is for you. this world is big enough to spread jam on everyone's toast & we all can drink from the same coffee pot or juice which ever. I am a blessed woman & I stay blessed because my hand is never closed to reaching out or giving to anyone. If your hand is closed it will never be opened to receive. Now, who wants a sip of my Blueberry Creme Coffee this morning & Linda this is no reflection on you- just sharing some thought this morning.

Reply by Frank/NC on 10/18/11 10:45am
Msg #400840

Re: Just doing this for kicks...

I'll have a large french vanilla with cream and 2 sugars. The problem is that my hand is closed so do you also have a straw? Oh, almost forgot to ask for strawberry jam on the toast.

Reply by NJDiva on 10/18/11 4:22pm
Msg #400884

"who wants a sip of my Blueberry Creme Coffee"...

is that coffee, brandy or whiskey? lol You're a BIT too perky...lol...that's what everyone says to me. So for ME to say you're too perky, girl, you need to take a chamomile tea and relax a little...lmao Just teasing.

Reply by MW/VA on 10/18/11 7:33pm
Msg #400906

ROFLMAO! IMO this biz couldn't even be close for

"doing it for kicks" & the only one's you're helping are the LO's to make their monthly quota.
Actually, we do get kicked around quite a lot, so if you're inclined to seek that kind of thing this may be for you. LOL

Reply by Stephanie Santiago on 10/18/11 10:10am
Msg #400830

Re: I need my cash in my hand!... :) n/m

Reply by Doris_CO on 10/18/11 2:57pm
Msg #400874

If you are hired by a Signing Service or Title company the cost of the signing fee is paid by the borrower through the loan and is listed on the HUD as an expense of the closing. Once the loan closes the title company is paid and they pay the SS which in turn pays you or if you're hired directly by the title company, you'll be paid almost immediately. The turn around for payment can be a couple of weeks to a month or more. If you're hired directly by the borrower, then you can demand payment at the time of signing.

If your small business is short of funds making it difficult for you to wait for payments, you might want to revisit your business plan and make some decisions on how you want to continue. Many of us have had to revisit our business plans and make changes in order to stay profitable because of the downturn in business these last couple of years.

Reply by Claudine Osborne on 10/18/11 9:48pm
Msg #400913

A couple of years ago my friend refinanced. I was not the SA..but she did tell me the SA that went there asked for a check from her for $150 told her she was supposed to pay him and he was trying to push her into purchasing Amway products.

She did not pay him and called the LO the next day and was told the SA was to be paid on funding..Wonder who that guy was and if hes still in business?
\

Reply by LKT/CA on 10/18/11 9:52pm
Msg #400914

5 Star Post, wildflower

<<<....because I enjoy what I do in every aspect of my life. Your work should not merely just be a job to you. Breathe, enjoy it & life too! My line of work will never take away from anyone else because what is meant for me is for me & what is meant for you is for you. this world is big enough to spread jam on everyone's toast & we all can drink from the same coffee pot or juice which ever. Smile I am a blessed woman & I stay blessed because my hand is never closed to reaching out or giving to anyone. If your hand is closed it will never be opened to receive. Now, who wants a sip of my Blueberry Creme Coffee this morning & Linda this is no reflection on you- just sharing some thought this morning.>>>

Totally agree!! Life's short, it's but a vapor or a whisper. Tomorrow is not promised to anyone so all should give thanks and enjoy it.

Now to answer your question - I have done several loan signings where the Notary fee is POC - paid outside of closing. The borrower can opt to pay the Notary directly or out of the escrow funds which the escrow or title office will then pay my invoice. The borrowers did not hire me, the Real Estate Broker, Escrow officer or Title company scheduler called me and contracted the job and informed me that the borrower will write me a check for my Notary fees at the table. It is not an arrangement I initiated. Those few ocurances were rare. Customarily, you get paid via invoice which is the standard.

Reply by Buddy Young on 10/18/11 10:23pm
Msg #400917

Re: Lisa, I want a sip of your blueberry cream coffee n/m

Reply by LKT/CA on 10/18/11 11:26pm
Msg #400922

Re: Lisa, I want a sip of your blueberry cream coffee

Sorry, there's no whiskey in it (at least not this time!)

Reply by Buddy Young on 10/19/11 1:09am
Msg #400924

Re: Lisa, I don't care about the whiskey n/m