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 Collecting trip fees when the loan doesn't go thru
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Lee-AR

Arkansas
678 Posts

Posted - 02/27/2012 :  7:00:51 PM  Show Profile  Reply with Quote
I do the work, I get paid full fee for no show/sign or RTC used. Seems to work for me provided that it's addressed prior to a problem occuring. And, yes, I do get paid without a hassle. Rarely, if it becomes a definite no-sign with just a few minutes table-time, I will offer a discounted fee even tho' they have already agreed to full fee.


Edited by - Lee-AR on 02/27/2012 7:06:19 PM
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leeinla

California
21 Posts

Posted - 02/25/2012 :  8:11:43 PM  Show Profile  Reply with Quote
I just got a call from an Escrow Co. and they agreed to my rate. I asked them if the borrowers don't sign will you pay me a trip fee? Their answer was no. If the loan gets cancelled than we will pay you a fee. I did have a situation where the borrowers did not complete the whole package and escrow refused to compensate me for anything. I think this is WRONG. I have to print the docs, drive, sit with the borrower(s) and if they refuse to sign, I get $0.00. Gee, what a great way to treat notaries. I find it odd that when escrow companies hire signing services they agree do pay a notary a cancellation fee, but when they deal with notaries directly they don't. Please post your opinions about this. How do you deal with signings that come directly from escrow companies?
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LindaH

Florida
1754 Posts

Posted - 08/19/2011 :  03:22:02 AM  Show Profile  Reply with Quote
My business policy is 50% of the agreed fee if a no-sign; 100% fee if the loan rescinds as that is beyond my control - I've done my job.

So far I've been paid in accordance with that policy.

Linda
http://www.notary.net/websites/LindaHubbell
http://www.columbiacountynotary.webs.com
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jbelmont

California
3106 Posts

Posted - 08/19/2011 :  12:12:48 AM  Show Profile  Visit jbelmont's Homepage  Reply with Quote
What have your experiences been collecting trip fees / travel fees when the loan doesn't go through or when the signer won't sign. I found I got cheated half the time and had a lot more trouble collecting in this type of situations. What about you?

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