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Posted by Virginia/PA on 7/24/11 1:50am
I don't know about the notary laws of other states, but I quote my state's notary law whenever I have a no-sign dispute. This is what I put on my billing for a signing which had an agreed upon fee of $100.00 including e-docs:
"Please note regarding fees - no-signs, no-funds and recisions are out of my control. PA Notary Law [57 P.S. §165(e)(3)] states “(e) No notary public may act as such in any transaction in which he is a party directly or pecuniarily interested. For the purpose of this section, none of the following shall constitute a direct or pecuniary interest: . . . (3) receiving a fee that is NOT contingent upon the completion of the notarized transaction.” (Emphasis added). Therefore, my fee cannot be contingent upon the completion of the notarized transaction. In this case the borrower did not sign but I printed documents, presented them to the borrower and spent about one full hour with the borrower speaking on the phone with various representatives of the lender, the settlement company and the signing company in an effort to save the loan. I will accept a reduced fee of $75.00 ($50.00 for attendance and $25.00 for doc printing). If there is a redraw, my full fee will apply for that signing."
Had that happen just last week. Don't know the outcome of this one yet, but I usually do get paid since they don't want to violate our state's notary law.
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