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Grandy
North Carolina
32 Posts |
 Posted - 02/15/2014 : 1:53:18 PM
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| Actually, I'm responding to the name of the signing company, Old Republic. What is this with all the fax backs? I'm getting hit with them over and over and, unfortunately, forget to ask that question on top of what is the fee for this signing. There are between 25 and more pages - have to look at length of some of the forms. This is new to me and just ridiculous. From now on, I will charge 25cents for each fax back over 5 pages on top of my regular fee to pay for the cost of ink. |
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edelske
New York
815 Posts |
Posted - 09/05/2013 : 08:20:15 AM
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quote:
Originally posted by kandy1099
BIG QUESTION:
My invoice states that payment is due within 30 days, and after that there is a $25 late fee. I have YET to get anyone to pay a late fee. How do you do it? For the most part now a days, I am lucky to just get paid from all these deadbeat companies out there that hire and then never pay. My outstanding list just keeps getting bigger. But when a company forgets or docks a check by accident, how do you get the extra late fees?
I would love to here the magic words that get me paid :)
The magic words are: "You must pay me prior to my printing the docs to my PayPal account".
If this is a RUSH job, RUSH to pay!
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
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kandy1099
Pennsylvania
121 Posts |
Posted - 09/05/2013 : 07:35:05 AM
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BIG QUESTION:
My invoice states that payment is due within 30 days, and after that there is a $25 late fee. I have YET to get anyone to pay a late fee. How do you do it? For the most part now a days, I am lucky to just get paid from all these deadbeat companies out there that hire and then never pay. My outstanding list just keeps getting bigger. But when a company forgets or docks a check by accident, how do you get the extra late fees?
I would love to here the magic words that get me paid :)
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edelske
New York
815 Posts |
Posted - 08/08/2013 : 09:52:08 AM
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quote:
Originally posted by LindaH
Don't be so quick to assume you're at fault and accept it. If her name is not typed on the form, and there are no instructions that she is to sign it, how would you know? Since it's a variable from lender to lender, unless you've had them signed for this particular lender before you wouldn't know.
If the name is not typed under the line, and there are no instructions saying have it signed, I do not automatically get this signed by the NOBS. The TIL, yes - this form, no.
I would not let them penalize me if there were no clear instructions and no name typed under the signature line. Why should you take the rap for title/lender's omission?
JMO
Linda
http://www.columbiacountynotary.webs.com
Disagree (slightly):
I ask for every place possible to be signed. If they don't like that it's easy for them to print a blank page without signature. When in doubt GET the signature.
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
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bynnette
Kansas
10 Posts |
Posted - 08/07/2013 : 8:46:57 PM
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| Thanks Linda and Big Tom - I am calling them tomorrow to argue my penalty. Tom - Yes it was Bank of America & Old Republic Title. Thanks for the tips! |
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BigTom
6 Posts |
Posted - 08/07/2013 : 08:01:18 AM
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| If the lender is Bank of America, there is a known system issue that sometimes causes the name to print on the TIL but not the Itemization. So on Bank of America closings, have everyone who signs the TIL also sign the itemization. |
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LindaH
Florida
1754 Posts |
Posted - 08/07/2013 : 07:36:36 AM
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Don't be so quick to assume you're at fault and accept it. If her name is not typed on the form, and there are no instructions that she is to sign it, how would you know? Since it's a variable from lender to lender, unless you've had them signed for this particular lender before you wouldn't know.
If the name is not typed under the line, and there are no instructions saying have it signed, I do not automatically get this signed by the NOBS. The TIL, yes - this form, no.
I would not let them penalize me if there were no clear instructions and no name typed under the signature line. Why should you take the rap for title/lender's omission?
JMO
Linda
http://www.columbiacountynotary.webs.com |
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bynnette
Kansas
10 Posts |
Posted - 08/07/2013 : 06:20:20 AM
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| Yes you are correct. It is called ITEMIZATION OF AMOUNT FINANCED. I was just wondering if it was required for the non borrowing spouse to sign if their name wasn't on it. It was for Old Republic Title. You answered my question, some title companies want it signed and others don't. I guess it was my fault not having her sign?! Thank you! |
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LindaH
Florida
1754 Posts |
Posted - 08/06/2013 : 7:28:45 PM
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I wish I could help more but I don't know what the "amount to be financed" form is.
If it's the "Itemization of Amount Financed", that form itemizes the eligible costs used in calculation of the APR. If you look at the TIL, you'll see "amount financed", which is different than the loan amount - it's the loan amount less certain eligible costs. Those costs are itemized on that supplemental form. Some lenders want the nonborrower or spouse to sign it, some don't. I would say it's not one of the usual NOBS forms that gets signed.
Hope this helps.
Linda
http://www.columbiacountynotary.webs.com |
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bynnette
Kansas
10 Posts |
Posted - 08/06/2013 : 5:02:44 PM
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| The non-borrowing spouses name was printed on the TIL, but not on the Amount to be financed. Is the amount to be financed an addendum to the TIL? Thanks for your response Linda! |
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LindaH
Florida
1754 Posts |
Posted - 08/06/2013 : 4:56:17 PM
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quote:
Originally posted by bynnette
I had my first penalty in over 3 years.... Is it a requirement for the non-borrowing spouse to sign the "Amount to be financed" page, even if her name was NOT pre-printed on the page. The spouse was on the Mortgage, but not the NOTE. Help, am I missing something? I got paid $25 less for it.
"amount to be financed page"??
If you mean the TIL (Truth-in-Lending) Disclosure, yes. I've also had some where the non-borrower had to sign the Itemization of Amount Financed too..
Linda
http://www.columbiacountynotary.webs.com |
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bynnette
Kansas
10 Posts |
Posted - 08/06/2013 : 4:50:00 PM
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| I had my first penalty in over 3 years.... Is it a requirement for the non-borrowing spouse to sign the "Amount to be financed" page, even if her name was NOT pre-printed on the page. The spouse was on the Mortgage, but not the NOTE. Help, am I missing something? I got paid $25 less for it. |
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nkleeger
California
34 Posts |
Posted - 08/01/2013 : 12:03:58 PM
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quote:
Originally posted by 22459
Hi Joannie,
I would like to see the ruling too. I've looking for it and can't find it. I was trying to sign up with a highly rated company this morning and one of their docs was a "Penalty Schedule" the says:
Fee Penalties
$25 Missing borrower or notary signature
$25 Missing notary stamp
$25 Missing witness signature
$25 Failure to return documents by stated deadline
$25 Failure to report status to ABC on time
$25 Failure to properly execute any deed
$25 Failure to collect from the borrower when the HUD document calls for funds collected
$25 Adding name(s) or initial(s) to documents when it is not printed
$25 Failure to have the borrowers’ initial changes they have made to the loan documents
$25 Failure to obtain a signature when an individual is named on the loan
I about fell out of my chair, lol...
Teri W.
Neil L. Kleeger |
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amcbride
Maine
31 Posts |
Posted - 07/30/2013 : 6:40:28 PM
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I have never had a penalty taken. If they did I would make sure I told everyone. We can put them out of business. We can make them pay us better.
Anne McBride |
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22459
California
48 Posts |
Posted - 07/15/2013 : 10:17:50 AM
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Hi Joannie,
I would like to see the ruling too. I've looking for it and can't find it. I was trying to sign up with a highly rated company this morning and one of their docs was a "Penalty Schedule" the says:
Fee Penalties
$25 Missing borrower or notary signature
$25 Missing notary stamp
$25 Missing witness signature
$25 Failure to return documents by stated deadline
$25 Failure to report status to ABC on time
$25 Failure to properly execute any deed
$25 Failure to collect from the borrower when the HUD document calls for funds collected
$25 Adding name(s) or initial(s) to documents when it is not printed
$25 Failure to have the borrowers’ initial changes they have made to the loan documents
$25 Failure to obtain a signature when an individual is named on the loan
I about fell out of my chair, lol...
Teri W. |
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LindaH
Florida
1754 Posts |
Posted - 01/15/2013 : 07:44:50 AM
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quote:
Originally posted by joannieh
Linda, you are VERY, VERY Wrong about the impact of the ruling. It is the only ruling of it's king. It was in Orange county Ca. And, yes it can be used as a reference to ruling in any state. If you have ever read legal briefs they often contain citations of rulings in other states if the laws are similar and would have the same impact if the judgment had occured in any other state.
There is NO state that I have found that does not have a Financial Interest rule in the notary legislation.
This ruling affects every notary in every state of the union.
The level of the court does not matter unless the matter was appealed to a higher court. This one was not.
You may not allow yourself to be placed in a position of Financial Interest.
Period.....
Joannie
You're right - I cannot allow myself to be placed in a position of Financial Interest. The only way to avoid that is to be paid in advance for all notarizations, which with loan signings, isn't going to happen.
However, after the fact, I still don't understand how the notarizations are at risk. Once they're done, they're done - it's over and there's nothing you can do. You can't revoke or invalidate your notarization due to non-payment.
I'd still like to see that Ameriquest ruling.
Linda
http://www.columbiacountynotary.webs.com |
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joannieh
Michigan
40 Posts |
Posted - 01/15/2013 : 07:10:16 AM
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Linda, you are VERY, VERY Wrong about the impact of the ruling. It is the only ruling of it's king. It was in Orange county Ca. And, yes it can be used as a reference to ruling in any state. If you have ever read legal briefs they often contain citations of rulings in other states if the laws are similar and would have the same impact if the judgment had occured in any other state.
There is NO state that I have found that does not have a Financial Interest rule in the notary legislation.
This ruling affects every notary in every state of the union.
The level of the court does not matter unless the matter was appealed to a higher court. This one was not.
You may not allow yourself to be placed in a position of Financial Interest.
Period.....
Joannie |
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joannieh
Michigan
40 Posts |
Posted - 01/15/2013 : 07:05:49 AM
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OK, Now, to specific posts. David, if they gave you the wrong address they are at fault and you should upcharge them for their mistake. The address should be verified by the scheduler before they even call you. Send them an invoice and charge at least one half extra for their error.
And, excuse me, docked for a missed initial on the instruction page of a W-9. Please. I'd upcharge them for the insult of docking your pay. Only I'd upcharge them 10 times the amount they upcharged you.
Remember to add to your invoices a note about late fees AND short pay fees. If anyone short pays me I charge them $25.00 AND all payments received are applied to late fees and short pay fees FIRST, then to the closing fee SECOND.
Remember, until you are paid your full notary fee the notarizations are at risk due to financial interest.
PERIOD....
Joannie |
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LindaH
Florida
1754 Posts |
Posted - 01/15/2013 : 06:01:52 AM
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quote:
Originally posted by joannieh
By the way, if you are ever presented with a contract that indicates a reduction for any reason you are required to cross it out. At the least that part of the contract is null and void due to the notary laws that prevent notaries from accepting a position of "Financial Interest".
Since the ruling against Ameriquest is the only known court case it can be applied to all states that have a notary law prohibiting "Financial Interest".
And remember, "IF FOR ANY REASON A NOTARY WOULD NOT BE PAID THEIR FULL FEE A FINANCIAL INTEREST EXISTS".
Joannie
I'd like to see this case - do you have a link?
IMO if it's a Supreme Court ruling, that's one thing. If it's a state court ruling that's another and has more limited impact. Something decided in CA won't impact me here in FL.
And again, I don't believe notarizations are invalidated after the fact.
JMO and TIA for the link.
Linda
http://www.columbiacountynotary.webs.com |
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joannieh
Michigan
40 Posts |
Posted - 01/15/2013 : 05:39:54 AM
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By the way, if you are ever presented with a contract that indicates a reduction for any reason you are required to cross it out. At the least that part of the contract is null and void due to the notary laws that prevent notaries from accepting a position of "Financial Interest".
Since the ruling against Ameriquest is the only known court case it can be applied to all states that have a notary law prohibiting "Financial Interest".
And remember, "IF FOR ANY REASON A NOTARY WOULD NOT BE PAID THEIR FULL FEE A FINANCIAL INTEREST EXISTS".
Joannie |
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joannieh
Michigan
40 Posts |
Posted - 01/15/2013 : 05:35:19 AM
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OK. People. Do we all have short memories? Especially in the State of California???? Come on!!!
Have we all forgotten about the Judicial Ruling against Ameriquest Mortgage, I think it was in 2004 or 2005??????
IF FOR ANY REASON A NOTARY WOULD NOT RECEIVE THEIR FULL FEE A FINANCIAL INTEREST EXISTS.
People, you can't accept less than your full fee or a financial interest exists and the notarizations are at risk. Yes, at risk because of the actions of the title company or whoever is docking your fee, but at risk none the less.
You are not allowed to accept less than your full fee at the option of the person paying you. You may of course choose to discount your fees, this is acceptable. But, you may not allow anyone to dock your fees.
Get a back bone and use that ruling for ALL that it is worth. And, most companies don't know it even exists. Notaries working for Ameriquest at the time should. It was big news in the Notary arena.
Remember, "If for ANY REASON" Therefore, there is NO reason they may dock your fee. They may choose to not use your services in the future. But they MAY NOT reduce your fees
Joannie |
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TGS1985
California
208 Posts |
Posted - 12/31/2012 : 4:31:57 PM
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Whats a ridiculous fee? Are we talking $5.00 or $100.00 for a missed initial?
I think companies are intitled to charge between $1.00-$10.00 for most mistakes. We're paid to do a job and we're expected to do it right the first time. That said everyone makes mistakes once and awhile and sometimes those mistakes can end up costing us time and money. It comes with the territory.
That said If they're trying to charge you a majority of the signing then yes that is weezely and I would demand that they "justify" how one missed inital on a 100-140 pg signing voids full payment of your services because 99% of that package is correct and you better believe they're still going to process those correct documents.
Unfortunately it might say straight out in the contract you signed with them or the confirmation letter that any mistakes will null and void the majority of your payment. In which case the fact you signed that contract or accepted the signing means you pretty much s.o.l. Doesn't make it right but it's YOUR fault for not reading the terms completely and must be chalk up to a learning experience.
Also did they offer you the opportunity to fix the mistake to avoid any penalties to your fee? If they did and you decline then I think that also hurts your case. Again as a professional notary if you make a mistake you also responsibility to fix it. If you choose not to then I don't think you should be surprise if you penalized the costs of hiring another signer to go and correct the mistake. I personally would not go out to have one document signed for less than $40.00. Notarization or not.
Finally I have to say your attitude is not the one you should have. You should really treat ALL documents as important. Yes there's sometimes surveys from the lender and whatnot but if it's in the packet and requires a signature then it important to someone in lending/title/escrow or it wouldn't be there.
Companies are just like us in many ways. As we hate to be screwed out of fees due to us, they hate to get signings not completed as promised and some company are more fed up than others just like some notaries are more than others.
In regards to myself I have made mistakes, especially in my first year, and I would say 99% of the companies I worked for didn't see it as an issue or gave me the opportunity to correct it without penalty. But then again I'm probably more cautious regarding the companies I work with than most notaries.
- Tyler Soares -
Notary Public & Loan Signing Agent
www.mobilestocktonnotary.com
www.saccitynotary.com
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LindaH
Florida
1754 Posts |
Posted - 12/30/2012 : 10:39:15 AM
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quote:
Originally posted by davidlwilliams
I had one company stiff me $90 when I was late...the address they gave me did not exist and the GPS sent me to a neighboring town. Turns out the signer named his driveway(!!!) and not only did not list it with the town, did not even put up a sign.
Did you not confirm with the borrower in advance and review/confirm directions at the time of the confirmation call? Seems to me this situation could have been easily avoided.
JMO
Linda
http://www.columbiacountynotary.webs.com |
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davidlwilliams
Massachusetts
47 Posts |
Posted - 12/30/2012 : 09:58:28 AM
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I believe these penalties exist to cheat notaries. If this sounds harsh, then so be it. The number of times I have been stiffed, not merely for errors, but alleged errors is appalling.
I had one company stiff me $90 when I was late...the address they gave me did not exist and the GPS sent me to a neighboring town. Turns out the signer named his driveway(!!!) and not only did not list it with the town, did not even put up a sign.
Guarantee this was a way of keeping my pay.
Full time gig? It is unlikely with the fees the agencies will pay. Do the math: work maybe 5 or 6 days a week, so...maybe $600 a week or a bit more. Subtract gas, cell charges, certification, other expenses? I do not see it and I get maybe 20 calls a month. |
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Evadiva
Pennsylvania
3 Posts |
Posted - 05/02/2011 : 3:57:56 PM
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Is anyone lese experiencing ridiculous penalties and fees after a signing? I was penalized for not getting initials on the 2nd page(instructions page) of the W-9 page! Hey, If I miss a notary stamp, a signature, initials on the mortgage, the note or other IMPORTANT doc, but the instruction page to the W-9 request? I thought I could make this my full time gig, but, I am not lookin for a regular full time job. In the last 6 months the fees have decreased, dispite the rise of gas and the requirements like background checks, E&O, and continuing ed, all at our cost, and now they penalties are harsh and uncomprehensible.
Yvette Williams |
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Topic |
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Dear Signing Agents,
Unfair penalties
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