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Angela V
California
40 Posts |
 Posted - 03/17/2017 : 3:15:31 PM
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I have to disagree with you too, Narayan. The only thing I enclose with a signing package is my card, and possibly an invoice if it's going back to the person who hired me. Your terms of payment should be acknowledged in a written email, followed up by your invoice after closing.
Another suggestion for not getting ripped off, is to make sure you have been compensated by a company BEFORE you work for them again. Do not rack up a bunch of bills before you know the quality of a client.
Angela V
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KHSTjudi
Washington
34 Posts |
Posted - 03/08/2017 : 05:21:13 AM
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Narayan, sorry - you are incorrect.
When a notary accepts an assignment through a signing company they become a subcontractor for the signing company. The lender/escrow/title company is not responsible for payment to subcontractors. You can try a mechanics' lien, but the filing fees far exceed any amount due a notary.
Pressuring signing company clients is a good way to find yourself served with a lawsuit by the signing company, as well as have those clients refuse to allow you to close for them through ANY signing company they may contract for services.
Occasional nonpayments, while not right and not fair, are to be expected in any small business. Write them off and move on. |
Edited by - KHSTjudi on 03/08/2017 05:28:33 AM |
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Notary_Narayan
New Jersey
32 Posts |
Posted - 02/11/2017 : 09:11:04 AM
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Hello New Notaries..
If you are contacted by a signing company and if you can or cannot find any data, about payment and their practices, I have not made it a point to put a couple of these inserts, especially where there is special instructions to settlement agent. I have printed this leaflet and highlight important lines in COLOR and keep them handy and insert them in every loan package, that comes from a signing service. My goal is to have these signing services put out of the business and end notary's misery . If you are interested, copy the below and create your own notice of prompt payment
ATTN: SETTLEMENT/ESCROW/TITLE /LOAN OFFICER
If this closing has been contracted via a signing service
It is the responsibility of the SETTLEMENT/ESCROW/TITLE /LOAN OFFICER to ensure that the notary closing agent gets paid on time. That means upon settlement or upon disbursement of all fees.
Off late many signing services are not paying notaries.
A few have been folding up, or holding payments far beyond after disbursements has been done. Some signing services employ PONZI model of payment, by waiting on payments from future transactions to pay notaries as late as 45 days/60 days and beyond.
Credit terms for notary payment are never allowed & the above mentioned people will be held responsible for non-payment/default and other civil liabilities
Notaries must be paid for work done, irrespective of whether transaction consummates or not. Please ensure that the signing service pay the notaries promptly & that they have the financial stability to do so.
Some signing services continue to thrive on deception. They do this by changing business entity names and restarting this deception. There is currently lack of compliance and checks on signing services.
I am honored to be the closer for this & should you require my services in future. |
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How to not get ripped off
