Posted by DBozick/CA on 7/3/12 9:50am
Msg #425444

Contacting the escrow company

Has anyone contacted an escrow company directly to inquire about when they paid (or will pay) the ss they used? If so, what has been the result? I was to have been paid for a signing I did in June 'upon funding' but as of yet haven't recieved payment, nor can I get a response from the ss.

Reply by CopperheadVA on 7/3/12 10:31am
Msg #425447

When I have to contact the TC for this purpose, I call with their file number in hand so I can "confirm that this file funded". I identify myself as the notary that closed the file through XX signing service. If the file funded, I then inform them that I have not yet been paid by their signing service and ask for their assistance. A follow up thank you email to the TC, with CC going to the signing service, also produces results. (Only do this if you are prepared to sever ties with the signing service, as they will not be happy.) Some TC are helpful in these matters, others aren't.

Reply by HisHughness on 7/3/12 10:59am
Msg #425449

This is a continuing source of discussion on this forum

Regardless of what the SS told you about when you will be paid, here is the way it works:

Title companies disburse funds either immediately, if there is no rescission period, or after the expiration of 3 days if there is, <to those entities on the HUD>. A title company may or may not pay a SS at that time, depending on what is on the HUD.

Most businesses work on a 30-day cycle. They will pay all outstanding invoices on the 10th, or the 15th, or the 23rd, or the 30th, or the 31st. Most businesses do not single out an individual invoice to pay outside that cycle.

Thus, a title company may pay a SS or an NSA as part of that cycle if it so elects and if the party owed the payment is not on the HUD. They will be paid at the same time the title companys pays the monthly lease on its copier, the janitorial service that cleans its building, the office supply store that refills the jug of mints on the receptionist's counter.

An SS will also normally pay on a 30-day cycle. In the business world, despite what you will sometimes see expostulated on this forum, there is nothing wrong with receiving funds from a transaction on the 5th, and paying invoices due from that transaction as part of the normal payment cycle on the 30th. That is the way it is done in businesses across the world, whether it is a dry cleaning establishment, Exxon-Mobile, or your local bordello.

I realize you say you were told you would be paid on funding, and you are disappointed that you were not. However, <before you start raising hell with the title company,> especially if you ever hope to get business from this SS again, you should wait until the monthly cycle has run its course.

And in the future, unless you spot your name on the HUD, just expect to get paid as part of the normal business cycle. That's the way it's done the world over.

Nothing in this post should be construed to justify an SS paying only upon funding of the loan. That should have nothing to do with payment during the regular 30-day business cycle.

Reply by dutchcloser on 7/3/12 10:45am
Msg #425448

My approach would be to wait 30 max 45 days. If still no payment or response from the SS I would send a certified letter requesting payment and inform them you will contact the title/escrow company. If no results with that I would send a friendly email to the escrow company stating the issue and steps taken to collect payment. Luckily I had to only contact the title company once to receive payment, I then received the payment that week. Good luck!

P.S. don't forget to check out Signing Central to weed out the slow/non payers...

Reply by DBozick/CA on 7/3/12 1:19pm
Msg #425484

Thanks, Dutchclosure. I appreciate the advice and the tone in which it was given.

Reply by NJDiva on 7/3/12 1:43pm
Msg #425486

Contacting the escrow company

"Thanks, Dutchclosure. I appreciate the advice and the tone in which it was given."

As I mentioned, sometimes we reply ruff, gruff and tuff...but there are times when we can come from a loving place...tee hee

Actually, it was a great question. I think sometimes when it's a question that is/has been asked and answered numerous times it provokes the above mentioned response. Is it right? hmmm, I sometimes share in the frustration. I must admit, there are times when I have wanted to respond as such, so it's probably NOT socially acceptable, but as has been said here many times, we must have a tough skin in this business.

It's always good to grimace and expect the worst only to get the best, than to expect the best and get hurt or offended I suppose.

Quite honestly I'm not in a position where I need or expect payment within 30 or 60 or sometimes even 90 days. So I don't get crazy when I've not received payment right away.

But if someone tells me that I will be getting payment within a certain time and they don't deliver, it does tick me off. I can understand your frustration but would encourage you not to act too irrationally. If you need it THAT bad, chances are this is not the business for you.

One thing I try to live by is under promise and over deliver. It keeps my customers happy and my integrity/word respected. In other words, I feel good and so do they!

Reply by HisHughness on 7/3/12 1:46pm
Msg #425487

Interesting. Your first post in this forum ...

... you have two veteran NSAs who responded, and you managed to diss both of us. This from a clueless notary who is harassing a signing service for payment long before an invoice is ripe.

I suspect you will find a rocky path ahead if you accept other closings.

Reply by NJDiva on 7/3/12 1:50pm
Msg #425489

LMAO...and then there's Hugh!!! lol n/m