| I frequently have title companies and s.s. ask me to charge half when a loan does not sign since no notarization occurred. The problem with this is that many times the loan is not what the borrower wanted and the loan goes down. If they want me to drive far away then I have basically spent my own money for ink, paper and gas, plus my time which could be four hours if it is far away. So, I would break even. As a result of this, I have dropped the number of counties that I cover from 14 down to 7. It's just not worth the gas money and time when they don't sign. Is it legal for the notary to have a financial interest in the outcome of the loan? Isn't that the whole purpose of having an un-biased third party to witness the closing? Any lawyers out there that can answer this? |
