Posted by Tudi/CA on 6/7/13 9:05pm
Msg #472596

You won't believe this...

I just got a call from a company I've never done business with and is not listed in signing central. They asked me to do a "refi" for $100. I said, sure...send over the documents. The documents arrive. Guess what? Not just a normal refi. Four signers, 500 printed pages (1 Lender + 2 BO copies), FORTY (40!!!) NOTARIZED SIGNATURES, plus numerous other non-notarized signatures throughout the 165 page document. For $100 ??? Are these people CRAZY ???
I sent it back to them.

Reply by Eva75Eva on 6/7/13 9:20pm
Msg #472597

They're definitely crazy. Sounds more like a commercial loan. Good thing you sent it back. I would have done the same.

Reply by Alz on 6/7/13 9:36pm
Msg #472599

It does happen....

As a business practice, I generally give new companies (new to me, that is) the fifth degree, i.e. a series of questions before accepting an assignment. There are just too many unknowns to wade through. JMHO.

Reply by Tudi/CA on 6/7/13 10:03pm
Msg #472602

Re: It does happen....

Just for the heck of it, I checked the notary fee being paid to the signing company for this assigment...$475!

Reply by LKT/CA on 6/7/13 10:46pm
Msg #472608

I would have told them that the fee of $100 is for the loan signing *discussed* and if the actual signing is different from what was discussed then I'd be calling back to quote a fee based on the *actual* signing. Either they would have just said, "never mind" or given all the details about the job and we negotiated a fee.

I once notarized 30 signatures for one person (GNW) and it took over 2 hours so I can only imagine notarizing 40 signatures AND collecting signatures on non-notarized docs.

Reply by 101livescan on 6/7/13 11:17pm
Msg #472615

Phew, sounds like you dodged a TORPEDO, not just a bullet. Your fee should have been $300, easily.

Keep their number for the next time they call you, and shoot for the moon.

Reply by Linda_H/FL on 6/8/13 8:48am
Msg #472632

Three things...

#1....did you at least give them the chance to adjust your fee? It's possible they were unaware of the size and details of the package and would have worked with you.

#2...you may not see them in SC but we might. It would be helpful to name the company so we can know and link it if possible.

#3..."I just got a call from a company I've never done business with and is not listed in signing central. They asked me to do a "refi" for $100. I said, sure...send over the documents." - you need to start getting more info up front from these companies to avoid this in the future. Only my very few known-to-me companies get the "sure send it over" reply without any questions about what's involved.


JMO

Reply by Tudi/CA on 6/8/13 12:01pm
Msg #472647

Re: Three things...

I spoke with the owner this morning to make sure she got my email yesterday. She said they've already reassigned it and not to worry. She said they never pay more than $100. for any signing because they get paid a flat rate per signing from the Title company. She said she she believes this signing won't take much longer to do than any other refi signing with 2 people. She said this knowing all the information that I posted here about the signing: 4 signers, 40 notarized signatures, 500 printed pages for 3 copies, 164 page document with lots of other non-notarized signatures. Yep, $100. is all she's willing to pay for this assignment...she says it won't take much longer than any other signing! She says she knows this because she's done a signing with three people before and it didn't take that much longer.

Reply by Linda_H/FL on 6/8/13 12:16pm
Msg #472649

Sure she got it reassigned...but will it close?

Did she tell the new notary ALL the info in advance? I bet not. And if she did and the notary still took it....oh well, what a shame that notary is working for a loss on this file.

Still would like to know the name of the company.

Reply by John Tennant on 6/8/13 2:53pm
Msg #472654

Yes, Tudi, pls name the company for all to benefit. n/m

Reply by JanetK_CA on 6/8/13 1:18pm
Msg #472651

You dodged a bullet

Either she's delusional or is trying to deceive. Doesn't much matter which, does it?

That owner comes across as someone who doesn't care a whit about the notary and has no respect for the work we do. A flat fee works for her because the amount of work involved for her company is about the same, regardless of all the extra work for the notary.

With my good clients who pay a decent fee, I might not charge more for 4 signers, figuring it will even out over time. But you add the size of the package and number of notarizations (plus printing one more copy than usual) and there is no way that fee comes close to reasonable. No decent client would expect a notary to handle all of that for the same fee as a typical refi.

Reply by Tudi/CA on 6/8/13 4:49pm
Msg #472659

But WAIT, it gets even BETTER!

Did I mention?? In addition to the 40 notarized signatures, there were an additional 146 non-notarized signatures and 48 initial lines. And... wait for it... wait for it.....it's a SPLIT signing!! Yes, after the loan was signed, I was instructed to carefully check it over at the table, because one of the borrowers is getting on a plane the next day to hand deliver the package to the next two other borrowers located in Southern California (There are a total of 6 people as borrowers in this transaction).

Reply by Yoli/CA on 6/8/13 6:08pm
Msg #472664

And, the question hangs. Who's the company? n/m

Reply by Tudi/CA on 6/8/13 7:33pm
Msg #472666

Re: And, the question hangs. Who's the company?

Sorry, but I don't feel comfortable posting the company name on the forum. It's an interesting story to be told, but I don't want to publicly bash anyone by naming them.

Reply by Yoli/CA on 6/9/13 2:26pm
Msg #472689

Tudi ~

About 2 posts down, you inquire about a certain company and state you've done your research on SC and the orange search button. Obviously, you rely, to some degree, on the experience of others and their posting that experience here on NotRot. Yet, you "don't feel comfortable posting the company name on the forum."

Don't like to reciprocate, huh?

Reply by GOLDGIRL/CA on 6/9/13 9:42pm
Msg #472706

Re: Tudi ~

Yoli's post is especially appropriate, Tudi, because you said in your original post that you have never done business with this company..... and after this experience, I can't imagine you ever will ... nor will they ever call you again.

So, you don't have a standing relationship with this company to protect ... and since you have taken advantage of others' posts where they name companies, it's really bad form not to out these guys because you're "uncomfortable." If they were in SC, then I'd suggest to post your experience there, but since they're not, all the more reason to stop protecting them.

At the very least, get them set up in SC, post your experience and maybe others will join.

Reply by LKT/CA on 6/9/13 10:08pm
Msg #472713

Re: Tudi ~

From the OP: "Are these people CRAZY ???" So.......you protect crazy people, Tudi....to the possible hurt of your fellow notary posters? You're concerned about "bashing" the company by reveiling their name? Well...newsflash - too late!! You've already bashed them in your first post.

Reply by Howard L. Jester, Jr on 6/9/13 10:19pm
Msg #472716

Did you ask them what they were smoking and to send you a pack?