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| T O P I C R E V I E W |
| diana perez |
Posted - 10/14/2014 : 6:04:48 PM
I received a call to notarized a Mortgage Modification. Which documents I will need to notarized, do we need a witness, how much I will be charge? I'm in the State of Florida.
Your advice will be greatly appreciated.
Thank you
Diana
diana perez |
| 2 L A T E S T R E P L I E S (Newest First) |
| betty1957 |
Posted - 01/12/2015 : 11:51:26 AM
You will usually notarize two Loan Modification documents, and oversee the signatures and initials of all borrowers. You will also have a short period of time to accomplish this--usually two weeks--and YOU set the appointment with the borrower.
I have done about 15 Loan Modifications for FASS (Wells Fargo). I don't have to print, they overnight both copies and a FedEx package with the label, and they flag all signature/date and Notarized pages.
I haven't done any for any other lendors. FASS has gone through some breaking in for these. I was told last year, that ALL pages in the package were supposed to be intialed by all borrowers, and to avoid every barcode, so I used my own sticky notes. I have one in the process right now (TBS on or before 01-21-15), and now borrowers only initial where there is a space for any initial.
These are perhaps the fussiest paperwork jobs I do. I like them bc local borrowers are usually happy to come to me office for a signing, and I charge a flat fee of $50.00 in anticipation of any borrower who lives/works in Champaign or Urbana, bc they usually drive to me office, which saves me money.
I have taken two jobs where the previous NSA didn't oversee the borrower to sign their name correctly, and Wells Fargo saw this as null and void and needed to be re-signed. I have discovered that if you use a large, yellow sticky note and PRINT the borrower's name, as it is to be signed on the documents, as well as the date of the signing, and let them look at this, as a "cheat sheet." I write it bold using an ultrafinepoint Sharpie.
The lendors want you to contact the borrower immediately and bc the borrower has lapsed in their ability to meet their original loan agreements, you sometimes have to hunt them down.
KEEP COMMUNICATION OPEN with your Vendor.
Hope this helps. =D
betty j. dedman |
| LindaH |
Posted - 10/15/2014 : 08:13:59 AM
Hi Diana
Not sure if this will help, but...to address your points:
1. "would you tell me which documents"
Best bet is ask the hiring party exactly what is contained in their packages - each lender is different as to their modification and what paperwork is required. Also, make sure to clarify that this is the modification and not the initial paperwork for one - I've seen some where the initial paperwork is upwards of 50-75 pages. Finals are usually a lot smaller. At that time, also clarify who is printing - many times the final mod is sent directly to the homeowner.
2. ".. and how many I will need to notarized.." - again, ask the hiring party so you can formulate a fee.
3. "Also how much is the going rate." is whatever you determine is an acceptable fee for you once you have answers to #1 and #2.
4. "I'm in Florida we charge $10.00 per doc" - In Florida you can charge $10 per notarial act - not per doc.
Hope this helps and good luck.
Linda
http://www.columbiacountynotary.webs.com
http://www.notary.net/websites/LindaHubbell |
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