Posted by pat/WA on 12/13/13 1:39pm
Msg #496043

Bancserv

Anyone familiar with Bancserv documents.
We received documents today and there is a billing invoice that has read and approved line
Bancserv asks that this be presented to the borrower as a notary invoice. Although it covers not only our fee but Bancserv's fee.
How do you present this document to the borrower?

Reply by Judith/NY on 12/13/13 4:06pm
Msg #496057

Gosh, I don't remember ever seeing anything like that in BancServ packages, and I've done quite a few of them. Interesting.... maybe some new procedure.

Reply by HSH/WA on 12/13/13 4:15pm
Msg #496059

Re: Tell the BO about the invoice on the confirmation call

and hand it to them at the outset of the closing. So is this POC or is it included in the funds due from BO on the HUD1? It would be necessary to know that when you talk to them about it. Sounds like it would tend to highlight specific charges which are usually lumped in with all the other charges. If so, I wonder why?

Reply by Buddy Young on 12/13/13 4:17pm
Msg #496060

Bankserv is actualy one of my favorites. Yes, I've seen that form before. I just tell the borrower to sign it and I tell them I don't get that much.

Bankserv lists that as a notary fee but I believe they charge more than that.
PM me and I'll tell you how much they charge.

Reply by CJ on 12/13/13 4:21pm
Msg #496062

notary invoice

I've seen this too. It is usually with a bunch of other invoices that escrow has to take care of. I always just thought they were making a paper trail showing the expenses and who is getting paid through the title company. I don't make a big deal about it. If they ask, I tell the truth: Title hired Bancserv and Bancserv hired me and this is the invoice for Bancserv, not for me.

Reply by JanetK_CA on 12/13/13 4:35pm
Msg #496064

Re: notary invoice

I agree. I don't work for Banserv, but that invoice might also include other notary services required for other parties to the transaction. (Is there a seller's pkg? A Subordination Agreement?) Regardless, it shouldn't be something that would require fees to be paid outside the HUD.

I see lots of different types of invoices thrown into a package from time to time (usually on a purchase), and those are there for documentation or sign-off by the buyers and/or sellers. All costs and fees should be either lumped into an existing category or itemized on the HUD.