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PWinFL
Florida
469 Posts |
Posted - 09/02/2009 : 07:19:30 AM
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quote: Originally posted by gjk-fl
Why does a title company pay later anyway? They should pay when the loan funds not in 30 days like a signing service. They get their money, we should get ours then too.
Title companies often do not pay the signing agent/notary out of escrowed buyers/borrowers funds unless you are specifically named on the HUD. Signing agents more often than not are paid out of their operating account or general escrow account and paid according to their normal A/P schedule. Therefore, it may be anywhere from 2 to 4 weeks before you are paid. Business to business transactions are usually billed "Net 30", sometimes more, sometimes less, to allow the 'payer' time to process the payment through their A/P system.
Some companies will pay quickly if they don't want to establish a payables account for the signing agent. This is frequently the case with smaller companies, or those branches of larger companies that manage their own chart of accounts.
Never drive any faster than your guardian angel can fly.
I am not an attorney licensed to practice law in the State of Florida, and I may not give legal advice or accept fees for legal advice.
Visit us online at http://www.PAWnotary.com |
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gjk-fl
Florida
151 Posts |
Posted - 09/02/2009 : 06:09:01 AM
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I wouldn't accept anymore until they pay for the ones you've already done. Don't get in too deep. Why does a title company pay later anyway? They should pay when the loan funds not in 30 days like a signing service. They get their money, we should get ours then too.
gjk |
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10931
Tennessee
6 Posts |
Posted - 09/02/2009 : 05:36:49 AM
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Has anyone worked with Concord Title? I closed several loans for them last month and while I really like their phone manner, I don't know whether I should accept any more work before knowing their reputation on payment. They should not have sent payment yet, these were very recent. Just wondering if anyone has worked with them through this website and what opinions might be out there.
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