Posted by Kate/PA on 3/6/13 11:02pm
Msg #459717

Mini Loan signing, relativley new notary to the industry.

So I got contacted from a law firm in California two different times in February. I agreed to do the job, than received clients information through an email, printed the clients documents out. Went to the clients house, went over and notarizied the documents, gathered clients personal financial and expense and tax records, finally sending them out to Fedex.
The first job paid $65.00 & the second paid $70.00. Both jobs were 1-2 miles from a house. Is this a typical signing? I only printed
16 pages for the first one & 21 for the second I did. Is this the typical earning for a signing? I've only been a notary since August, and this is my first "signing"

Forgive me if sound silly. Serious inquiry.

Reply by Buddy Young on 3/6/13 11:35pm
Msg #459719

Sounds like a debt resolution contract you had signed. That's not a typical real estate signing. A typical real estate signing would be more $$ than that.

Only you can decide how much to charge but it sounds like you made some money on the deal.

Reply by pdl/cali on 3/6/13 11:46pm
Msg #459721

A Loan signing has about 150-200 pages to print x2, and pays in the $$$.$$. But with the amount of pages you printed, and locations very close to each other, then IMO, you made out well. Congrats , and shoot for more $$$.$$ next time.

Reply by sigtogo/OR on 3/7/13 10:23am
Msg #459774

not always the case. I get plenty under 100 pages. n/m

Reply by CopperheadVA on 3/7/13 6:30am
Msg #459732

Yes it does sound like a debt resolution signing - I choose not to accept those appointments. Do a search here to see why.

Reply by MW/VA on 3/7/13 9:47am
Msg #459765

Ditto. I sounds like they took advantage of a newbie. IMO

it isn't always about the money. There are certain kinds of transactions I won't do at any price.

Reply by 101livescan on 3/7/13 9:09am
Msg #459757

Kate, I think that you were paid fairly, but I'm not sure this is the kind of work you want to do going forward. Debt resolution work is not the most stellar, honorable work for a notary to be involved in. These attorneys kind of prey on notaries, especially new ones, because they know we are commissioned, have integrity and will get the job done. We should not compromise our ethics or our commission by being involved with these shysters.

Hang in there, go for the big desserts, not the crumbs.

Reply by sigtogo/OR on 3/7/13 10:28am
Msg #459776

was it debt resolution Kate? did you also fax back?

as others have said, if debt resolution, do your homework before accepting another. I accepted one early on, did some research and found they were not licensed to do business in Oregon-thus fraudulent! please be careful. There are legitimate, non-profits that offer debt resolution.

Reply by jba/fl on 3/7/13 10:40am
Msg #459781

It was asked if debt res - never stated as such. A bit of

jumping the gun here. There are many reasons attorneys ask for an assist. It could have been lawsuit related or.....???

Reply by Linda_H/FL on 3/7/13 10:46am
Msg #459782

Re: It was asked if debt res - never stated as such. A bit of

She said the jobs paid $65 and $70...and also said

"Went to the clients house, went over and notarizied the documents, gathered clients personal financial and expense and tax records, finally sending them out to Fedex."

I thought debt resolution or modification. Possibly RESPA signing - but from a law firm? Would she gather client's financial information for a lawsuit?

She also called it a "mini loan signing" - ??

Reply by Lisa Cirillo on 3/7/13 11:00am
Msg #459783

Re: It was asked if debt res - never stated as such. A bit of

I've done a few structured settlements where personal and financial information was required. May not have been a debt settlement.

Reply by sigtogo/OR on 3/7/13 11:01am
Msg #459785

so true n/m

Reply by Kenny Services - Dawn on 3/7/13 11:30am
Msg #459789

Re: It was asked if debt res - never stated as such. A bit of

I refuse these kinds of "signings" the pay (if you even receive it) is not worth the mental anguish of -did these poor people just get taken advantage of because the are desperate to save their home, so they are willing to pay some shyster lawyer $1000's of dollar to attempt to work out a resolution with no guarantees. At the end of the day, I care about people too much, I am too honest, and I want to put my head on my pillow and sleep. Can't do that if I think good people were just robbed. Not saying all attorney assisted debt resolutions are like that, but ..my integrity forces me to just avoid these all together instead of sorting out the good from the evil. Just my two cents. and i'm just saying...

Reply by 101livescan on 3/7/13 11:02am
Msg #459786

Re: It was asked if debt res - never stated as such. A bit of

Smacks of an illegal "modification" by some bottom feeding lowlife lawyers extorting $$ from hopeful defaulted borrowers these shysters will save the day and their home. Property located in CA? likely? Hard to say. Assuming a lot here, but I always consider all the possibilities, and I won't stretch my neck out there to have my head on the block. Not worth it.

Our CA Gov. Gerry Brown aggressively prosecutes attorneys who accept money UPFRONT from people for the purpose of saving their homes from foreclosure and/or deb resolution where there is absolutely no basis for doing so.

Be careful, you do not want to be the notary in these events. Not worth the fee you will earn.

Reply by Kate/PA on 3/7/13 12:44pm
Msg #459804

Re: It was asked if debt res - never stated as such. A bit of

Yes, "Mini" loan signing. I was told that a typical loan signing is 150 to possibly 300 pages. So 16-21 pages is relatively "lightweight"

Reply by Linda_H/FL on 3/7/13 2:32pm
Msg #459839

16-21 page loan? I have never seen a loan that small

Modification yes - full loan...nope. Shortest one for me was a HELOC - usually 50-70 pages.

OORRRR - you got called to go back out and get additional docs (or corrective docs) signed for a full refi that already signed.


JME

Reply by sigtogo/OR on 3/7/13 2:35pm
Msg #459841

I have done this size pkg for attorney-owner carry loan.

but the request for all the financial stuff sounds like something else.

Reply by Kate/PA on 3/7/13 8:39pm
Msg #459955

Re: 16-21 page loan? I have never seen a loan that small

I think it was a loan modification, debt retainer. I'm reading that a lot of people turn down these jobs. Perhaps I was choose as a last resort. Two different clients in two different houses. On a plus side, it paid well for a beginner & was a mile from my house.

Reply by Linda_H/FL on 3/8/13 7:20am
Msg #459997

Kate, so what I'm gleaning from your posts is

you have absolutely NO idea what type of signing you did. Please take some time to search and read here, learn the different types of assignments that may be offered to you and what they entail.

"On a plus side, it paid well for a beginner & was a mile from my house" - is absolutely worthless to you if you're doing something that illegal in your state - OR if you never get paid. Also worthless since you now have experience in....what? You don't know.

Please, for your own sake, educate yourself on these types of assignments and other types of "signings" you may be called on to do. And you can start right here.

Reply by sigtogo/OR on 3/7/13 11:00am
Msg #459784

that's why I asked :) n/m

Reply by Kate/PA on 3/7/13 12:45pm
Msg #459805

Re: was it debt resolution Kate? did you also fax back?

No faxing, just Fedex.