Posted by Yoli/CA on 2/12/13 4:43pm
Msg #455529

What's this mean?

In January, did a signing for a 4-star TC with no issues. All other jobs with this TC have been paid within 2 weeks. When this payment was not received as per payment history, I emailed and was told: "This file has not disbursed yet but is scheduled to by the end of this week, a check will be sent then."

I wait 'til today's mail. Nada. I email them again asking if check went out at the end of the previous week as stated. Their response: "Sorry Yolanda, this file still has not disbursed." So, then I take it a little further and ask what seems to be the problem, if it's something I did. And, they say: "No it has to do with their loan."

What's your take on this? I'm getting an uneasy feeling this loan may not fund.

Reply by Gregory/CA on 2/12/13 4:51pm
Msg #455530

To me, it sounds like you will not get paid unless it funds. Does your confirmation or other agreement indicate payment is due regardless of funding status?

Hopefully, it's just a minor issue that can be resolved soon and payment is sent quickly. Fingers-crossed.

Reply by HSH/WA on 2/12/13 5:24pm
Msg #455534

Re: I try not to sign for "contingent" SS. Our fees are too

reasonable to be contingent. At a minimum we need a print and trip fee.

Reply by GOLDGIRL/CA on 2/12/13 5:24pm
Msg #455533

IMO, you don't get paid if the loan doesn't fund. Most TCs have no funds (that they're willing to part with) to pay notaries if there are no disbursements. They don't have a "Gee, we feel sorry for the notary who went to all the work to print and get docs signed and notarized fund." They're not interested in whiney notaries who expect to get paid for their work, when they, the TC, didn't get paid for their work, either.

All of which is why I finally quit a FATCO office I worked with because I was sick sick sick of this, plus the fact they didn't pay trip/print fees for no-signs, redraws, etc.

Reply by SheilaSJCA on 2/12/13 5:32pm
Msg #455538

It sure sounds like the file hasn't closed yet, for whatever reason, and they are hoping you will sit patiently waiting, for if it ever does. I hope it does, because it sounds like they will not want to pay you unless it does close.

Reply by Yoli/CA on 2/12/13 6:12pm
Msg #455548

Yep, yep. That's what I thought too. Dummy me have not discussed with this TC that I get paid regardless of loan funding and their confirmation makes no mention of it. Gotta get more hard-nosed about that.

Anyway, found out what the situation is. TC website gives access to notes on this order. Seems these borrowers have a 2nd HELOC that needs to be paid off prior to funding. You'd think this would've been discovered and dealt with prior to signing. Ahhh ... in a perfect world ...........

Lesson here: Regardless of TC/SS great reputation, cover my @$$ and get, in writing, payment guarantee.

Reply by JanetK_CA on 2/12/13 10:47pm
Msg #455602

For what it's worth, I've found myself in that situation before with a title co once where, after more months than I can recall, I got a check in the mail from them. So much time had gone by that at first I wasn't sure what it was for.

It took a very long time, but the file finally did close and I eventually got my full fee. I hope that's what happens for you, too!

Reply by Ronnie_WA on 2/12/13 8:30pm
Msg #455582

Assuming you did not accept an assignment specifically contingent upon a successful closing ...... They hired you - the borrower didn't. Be patient, be diplomatic, be firm. If need be - in time, go up the chain of command ... the escrow manager, the operations manager, etc.. If the closing fails due to a lender error, escrow can include your fee in the escrow cancellation fee that they bill to the lender. They only lose the money if the failed closing is due to their own error.