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 How does TRID affect our compensation		  New Topic  Reply to Topic
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LindaH

Florida
1754 Posts
Posted - 10/03/2015 :  05:52:06 AM  Show Profile  Reply with Quote
Only if you're listed on the HUD as a specific line item

If you're paid out of title's operating account, which happens most of the time (I can't remember the last time I was specifically named on the HUD) then the added fee should not impact the disclosures at all.

JMO

Linda
http://www.columbiacountynotary.webs.com
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32297

Arizona
15 Posts
Posted - 10/02/2015 :  4:10:46 PM  Show Profile  Visit 32297's Homepage  Reply with Quote
Since the TRID disclosure needs to be sent to the borrower 3 days prior to signing and since we are not hired as a rule by title but by third party companies, has anyone thought about how that can affect our compensation. When pricing a signing assignment I take into consideration several things:
1. How big is the package
2. How far do I have to travel
3. If I have to travel a long distance how much other business do I anticipate losing because of time constraints.
At present I find I am able to negotiate a more legitimate amount. With TRID, I believe escrow cannot change the notary fee once the disclosure is sent out . If they have to change then a new disclosure must be sent ergo a delay.
I would appreciate thoughts on this subject.
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