Interesting how the companies vary in how they "disclose" notary fees charged to the borrower/seller/buyer.
At one company I do work for, there is now an inhouse notary signing agent who completes a form, much like Chase's form.
She tally's the number of notarizations in every package she signs. Turns it into management. They must be doing some calculation of what they are charging the client and what they are "absorbing".
Remember yesterday I posted that settlement agents make most of their $$ on title fees, they are fixed based on the loan amount. I can't tell you how many people wrestle with this charge when they've refi'd numerous times and get this hit each and every time...they dubb it "highway robbery"...None the less, it is a legitimate charge.
How many times I've gone out to a client numerous times on the same file, forgot to get the interspousal grant deed signed. Need a subordination agreement signed, I have wracked up $400 on one file which started out as $150.
How is that all disclosed? It isn't! The co absorbs it, cost of doing business.
Also a lot of title/escrow companies also make money on such line items as: Flood Determination Report, Tax Report, Subescrow fee, yada yada...
So I'm not sure, but maybe it isn't their priority to list our notary fees every time. I would love to hear some of your views on this, especially those of you who have worked in escrow. One thing for sure is escrow is a lot different now than it was 10, even 5 years ago. |
