Posted by Ireneky on 11/26/13 8:39am
Msg #494095

Refi direct from borrower

Got a call yesterday from borrower needing notary fro his refi docs. Meet with him. When doing the paper work I noticed that the docs came from signing service not title or lender.
My question is this signing service is getting paid to mail the docs and tell the borrower to find their own notary. It's ok with me I got paid cash money ( charge the same as overnight docs) but why is this signing service being paid ? A completed waste of money I'm sure billed to the borrower.
If this is going to be the standard, maybe I should open a signing service and get paid for going to the drop box.
HAPPY TURKEY DAY TO ALL !!!!!!!

Reply by MW/VA on 11/26/13 8:50am
Msg #494099

That's a new one. What was the borrower being charged

on the HUD? This one smells.

Reply by Ireneky on 11/26/13 9:05am
Msg #494105

Not sure didn't see

settlement statement or any docs that didn't need to be notarized. They were separated from other docs. I agree very strange. I did not feel comfortable with this.

Reply by MW/VA on 11/26/13 9:16am
Msg #494113

Then you acted only as a notary & not as a Signing Agent.

IMO you could only charge your allowed state's notary fee then, since you didn't act in any other capacity. Weren't you advised in advance on this?

Reply by jnew on 11/26/13 9:18am
Msg #494114

If you went to them you can charge agreed mobile service fee n/m

Reply by MW/VA on 11/26/13 9:22am
Msg #494116

Yes, you can charge a travel fee if your state allows. The

point I was trying to make is that she charged her standard "overnight docs" fee.

Reply by Linda_H/FL on 11/26/13 9:23am
Msg #494117

So you really don't know if this signing service is

being paid for this - that's an assumption on your part.

Mailaways are not unusual - and who gets paid is of no concern to you. That service may be in-house for title and paid out of the title company's fees - nothing for you to be uncomfortable about - it's a GNW appointment only with state-regulated notary fees and travel if allowed by your state. The rest is not your concern.

JMO

Reply by MW/VA on 11/26/13 9:26am
Msg #494120

I agree with Linda here. I think she misunderstood her

role in this transaction.

Reply by jnew on 11/26/13 9:43am
Msg #494125

Re: I agree with Linda here. I think she misunderstood her

I agree also. The text of the original post mentioned a signing service so I commented on that presumption. (the title of the OP said it was direct from the lender). I used to do a lot of mailaways when I was a title agent back in the stone age. We went to notaries because the lenders didn't like the idea of the customer having to find their own notary and a lot of notaries didn't know how to properly complete a notarization. (mostly recording concerns)
'

Reply by jnew on 11/26/13 8:56am
Msg #494101

This sounds like a left turn from the signing service to capture the entire fee for the signing expense. In effect, in my opinion, they are making the borrowers pay the fee twice. Once as charged through the title company on the HUD 1 and again when they paid you an undocumented closing fee. Since you have no obligation, other than directed by the borrower, you should be okay if it blows up. I think the borrower has cause to file a complaint against the lender for paying twice. The obvious culprit would be the signing service who stands to lose a customer or worse. In my opinion, they need to regulate the signing services and not the notaries.

Reply by CJ on 11/26/13 10:39am
Msg #494136

I agree with jnew.

Borrower most likely paid twice. That is unethical in my eyes. I don't know how this signing was handled, I'm sure the op did a great job, but I would have handled it like a regular signing, gone over the Note and HUD, and supervised all the signatures, explained docs and double-checked before I left. I would have also made a note of the signing service and title, and maybe give title a call to clue them in on the "great" job their ss did.

Reply by Ireneky on 11/26/13 1:22pm
Msg #494150

I will clarify

When borrower called I told him my fee , he agreed. My time and travel. I normally do not charge for notarizing as my states fees are ridiculously low. When @ the signing I asked if he wanted me to go thru the docs with him he declined said he would do it later even offer to drop the docs for him again he declined. He was one the that told he had to find his own notary.
I only brought this up because the first page clearly stated signing service name. I have done mail aways before also but they were from title or lender not a third party.

Reply by apsnltch on 11/26/13 2:08pm
Msg #494155

Re: I will clarify

Appears to me that Signing Service is taking a few people for a ride....The Title Company, the Borrower and the Notary......To bad you do not know who the title co is to report the SS. Would it be legitimate to put a post on the SS in Signing Central???? Just Asking....Don't Shoot Me....But Title Companies do their research as well sometimes through signing central, Don't They?