| |
 Dear Signing Agents,
You need to REGISTER and have a password to post or reply to discussion topics. Please remember, your password for your listing on 123notary.com is NOT RELATED to and is different from your password on the forum. Your password on the forum can be whatever you want it to be.
|
|
  Be the first person to vote!
| Author |
 Topic  |
|
|
Renee
Michigan
549 Posts |
 Posted - 06/22/2011 : 04:18:48 AM
|
Agree, Bobbi (big surprise there!), and frankly this is something I've been waiting to see hit the fan. In addition to what you've outlined, the ACTUAL Notarial fee is a non-APR fee, while any additional fees (SS, travel, etc) related to that are APR fees - to be compliant with TILA, these would have to be parted-out of the Notarial/Notary fee. Just a whole other issue waiting in the wings.
What really surprises me is that the RESPA issue that these particular borrowers are heading to court with have gotten that far, unless a remedy WAS already offered, and refused. |
|
|
|
BobbiCT
Connecticut
135 Posts |
Posted - 06/21/2011 : 10:12:45 AM
|
"...The title company agreed on a set fee. (approximately 120.00) ... stating that this signing company over charged them. (Fees in this particular area are about a 1.00 per notarization and there were about 3 signatures x two people so fees would have been approximately 6.00 total. (thee are no restrictions or mention for that matter of travel in this states statues..."
I think the outcome will depend on
1. What was stated on the HUD-1. Was the service described as "title services," "notary signing agent" services, "notary services," or "notarization". If notary services or notarization was listed on a separate line, I see a PROBLEM; i.e., specifically states for notarizations, which are limited by state law. Any of the other choices the invoice for services rendered probably includes services BEYOND notarization, which one would hope are "reasonable"; i.e., courier services,e-mails, pdf documents, printing, postage/FedEx, scheduling time, calls, title review, recording, etc.
2. More important: There will be claim(s) on any malpractice, business or E&O policies. The more insurance carriers involved, the better for the plaintiff(s). Will the insurance company(s) fight or pay to get away? Decision will be from a bean counter deciding if it's less expensive to settle and payout than fight.
Bobbi in CT |
|
|
|
CopperheadVA
Virginia
420 Posts |
Posted - 06/21/2011 : 10:04:43 AM
|
My first thought was that if a signing service is charging only $120 to the title company, it's no wonder we are always getting called with lowball fees. That kind of fee is what the notary should have been getting paid directly from the title company.
CopperheadVA
|
|
|
|
crtowles
California
553 Posts |
Posted - 06/21/2011 : 09:38:20 AM
|
Had the strangest 123 call today. One of our notaries called in today with one of the most amazing story. First some background information. This notary runs a nationwide signing service. Last year this particular signing service sent out a notary located in a southern state to close a loan for their client; a title company. The title company agreed on a set fee. (approximately 120.00) Everything went well and the loan closed. Now this year a shocker. This particular signing service is named in a class action law suit. (Keep in mind no other parties are named in the suit) The borrowers who initiated the lawsuit are stating that this signing company over charged them. (Fees in this particular area are about a 1.00 per notarization and there were about 3 signatures x two people so fees would have been approximately 6.00 total. (thee are no restrictions or mention for that matter of travel in this states statues) And so 6.00 is what they felt they should have been paid; period. As far as I am concerned this is a bogas lawsuit. This is a first. I have NEVER heard of such nonsense. It is obvious this lawyer as nothing better to do with his time. And although I have some strong feelings about this I am curious to what all of you think?
~Carmen |
|
| |
Topic |
|
|
|
| Mobile Notary / Signing Agent Discussion Forum |
© 123notary.com |
|
|
|
Tips for using the forum
The most important feature on the forum is the search box. You can look up a particular word, phrase, name of a company, and see a potentially large list of search results with which you can obtain data. Filters are also valuable. If you want to find popular posts, you can use the number of views filter. You can also see whats new with the active topics link. Email us at info@123notary.com if you need any help using the notary forum.
Resources
The notary public resource page is valuable as it has links to all of the free information pages for notaries. Pages linked to the resource page include a page that teaches you everything you need to know to get the most out of your listing. Another page teaches you all the secrets of getting paid. There is a link to our free list of signing companies. There is also a glossary, learning tools, and much more.
If you are a notary, the free tips we give are invaluable.
Popular pages
If you visit 123notary.com often, you might want to visit some of our most popular pages such as the California notary, Texas notary, Florida notary, and New York notary pages to browse the site. We also have valuable pages for notaries such as the free list of signing companies, and the resource page. Please also visit our get notarized and notarized letter page.
|
| |
THIS IS UNBELIEVABLE!!!!
