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rpvnotary
California
13 Posts |
 Posted - 04/26/2009 : 5:18:37 PM
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quote:
Originally posted by Lisa T.
I've been in that situation a couple of months back....borrowers had to find their own Notary...met with them at 6:30am and was paid cash at the table...wife is a pharmacist and husband a dentist. Very nice couple. I have no problem with the borrowers paying me at the table - that's money on the spot with no waiting. I don't have a problem accepting their check...I have their driver's license info and know where they live! I wish all of my signings were paid for at the table...because that means I walk out borrower's door with payment.
I've done a couple of Charles Schwab bank HELOCs for local borrowers who needed to find their own notary. They found me on some online notary directories. It is great to be paid for your services right after everything is done instead of pestering signing companies who do not pay on a timely basis. |
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edelske
New York
815 Posts |
Posted - 04/02/2009 : 1:35:52 PM
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quote:
Originally posted by jbelmont
If the borrower is willing to pay you, then ask what type of payment they intend on using such as check or cash.
I have them pay on my web site prior to doing anything. Same for a "callback" from a mobile notary job that did not like the fee. I know they will spend every moment prior to my arrival looking for a lower fee. Having them pay on the web site eliminates many problems.
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
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Lisa T.
California
391 Posts |
Posted - 03/23/2009 : 9:58:29 PM
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<<<If the borrower doesn't like the loan, they won't pay you because they will consider themselves to not have received service of value. Make sure theyknow the rate, APR, and closing costs before you drive there because your time and patience will be spent whether you get paid or not.>>>
I typically will ask a borrower (who already has the docs) if they've reviewed ALL of the paperwork and if they had questions, did they contact their LO or title co. to have their questions/concerns addressed. This keeps me from going to a signing where the borrowers have the docs but didn't bother to review them. If there's something they don't like in the docs, this is discovered in the phone call, not when I show up at their door.
Today I had a structured settlement and of course I asked the usual questions about ID and how the name reads and since this struc settl was an edocs (and usually they're O/N to client) I asked the client if the company emailed him copy for his review, if not I would drop a copy by and he could review it before our appointment. I would need to see his driver's license before handing him the paperwork. Turns out he was emailed a copy which he gave to his attorney for review. This signing was postponed.
I refuse to sit and waste my valuable time with a borrower who has documents for which they were too lazy to review before I arrive.
The two times I had borrowers POC (paid outside of closing), they already knew they were. One paid in cash, the other by check and his business is two blocks from my home so he has no where to hide anyway - heeheehee!!
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jbelmont
California
3106 Posts |
Posted - 12/12/2008 : 2:20:23 PM
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If a company wants the borrower to pay you, be careful. You should get paid 50% more for such a signing. You must first contact the borrower and ask if they consented to paying you. If there is any confusion, then you should decline the job. If the borrower is willing to pay you, then ask what type of payment they intend on using such as check or cash.
If the borrower doesn't like the loan, they won't pay you because they will consider themselves to not have received service of value. Make sure theyknow the rate, APR, and closing costs before you drive there because your time and patience will be spent whether you get paid or not.
Be careful in this situation. I have gotten burned many times like this.
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joanbergst
California
360 Posts |
Posted - 12/10/2008 : 10:59:55 PM
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I was posting that if borrowers have a 800 plus credit rating and are getting a lower interest modification to stay with the same lender, because the lender doesn't want the borrowers to refiance with another lender,(as they did on 2003-04 I would take a check 100% of the time.
If the borrower is in foreclosure in 2008-09 and I were doing some sort of loan modification I would insist on cash 100% of the time!
Joan Bergstrom
24/7 To Riverside & San Bernardino Counties.
State Notary exam teacher for www.notaryclasses.com
www.joanbergstromnotarypublic.com
joan.bergstrom@yahoo.com
Cell: 951-522-4919
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azdocsign
Arizona
89 Posts |
Posted - 12/08/2008 : 06:52:52 AM
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I agree with Linda. I only accept cash from borrowers who call me direct for their loan closings. In these instances, I always instruct the borower to submit the package as typically they usually ask for bargain basement pricing.
Just a reminder: I never allow a borrower to bring me the notarized pages only. I always insist in watching them sign the complete package even if they are a notary signing agent as well. Just want to remind us all to protect our liability.
Happy Signings!
Kathy Fletcher
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LindaH
Florida
1754 Posts |
Posted - 12/08/2008 : 05:25:51 AM
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Wells Fargo still does this, Joan - we're in the process of refinancing with them and we're going to have the docs sent to us and need to find a notary...
I do want to comment on this, though:
"If they are you won't have to worry about a bounced check from someone with a credit score of 800." - we aren't privvy to their credit scores, nor can we request it when they call requesting our services. The people we meet could well have a very good credit score and, in this economy, still be in foreclosure or close to it...that Lexus in the driveway doesn't guarantee money in the checking account. For that reason I'd require cash payment (or bank check - if their personal check is good they can get the money for me)..
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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joanbergst
California
360 Posts |
Posted - 12/07/2008 : 8:15:27 PM
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When Interest rates were dropping 2003-2004 I did several of these loans for borrowers. Wells Fargo is one who comes to mind who directed the borrower to find a notary on their own and pay the notary at the table.
2003-04, the borrower(s) were given this option because they had the "best credit scores" and the lender didn't want them to go to another lender for a better interest rate. They want the borrower(s) to stay "in house" and they gave them modification loans and were usually approx. 25-30 pages and easy to do.
2008, are these the same type of loan modifications being done because interest are declining?
If they are you won't have to worry about a bounced check from someone with a credit score of 800.
On the other hand if it is loan modification for someone who is in foreclosure I think I would want cash!
T
Joan Bergstrom
24/7 To Riverside & San Bernardino Counties.
State Notary exam teacher for www.notaryclasses.com
www.joanbergstromnotarypublic.com
joan.bergstrom@yahoo.com
Cell: 951-522-4919
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edelske
New York
815 Posts |
Posted - 12/07/2008 : 4:53:19 PM
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One thing we all want to avoid - making a trip to a "cash at the table" and not getting paid. I have "cash at the table" use the credit card checkout on my site prior to my departure. The client gets a very nice receipt from the system and, even better; I am paid prior to departure!
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
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vince
Kansas
324 Posts |
Posted - 12/05/2008 : 3:10:39 PM
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Several have called in the last year saying they were told they would receive documents directly and then they should then schedule a local Notary. A few web sites were provided to them suggesting where they may find someone. One couple asked what day I might be available and were surprised that the instructions to them really did mean that the documents were date sensitive. I’ve only accepted a couple of these as some were from a distance that didn't make sense for me to do - instead suggested others they might call that were substantially closer. Those that were done were great to work with and the pay was ready up front.
One couple wanted to negotiate a fee to below an unacceptable level - so, we then discussed how they might consider going to a local UPS Store and seeking help there from the staff Notary... |
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Lisa T.
California
391 Posts |
Posted - 12/04/2008 : 8:46:33 PM
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| I've been in that situation a couple of months back....borrowers had to find their own Notary...met with them at 6:30am and was paid cash at the table...wife is a pharmacist and husband a dentist. Very nice couple. I have no problem with the borrowers paying me at the table - that's money on the spot with no waiting. I don't have a problem accepting their check...I have their driver's license info and know where they live! I wish all of my signings were paid for at the table...because that means I walk out borrower's door with payment. |
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LindaH
Florida
1754 Posts |
Posted - 12/04/2008 : 6:16:46 PM
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I've never been in that situation...is it a closing or a structured settlement signing (those sometimes are paid differently)....
Either way, what I'd do is confirm with the borrower that he will have a cash or a bank check in the amount of $xxx.xx payable to you at the table..and no I wouldn't trust his personal check...
Boy, don't we all dream of getting paid at the table??? Wow...
Good Luck.
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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Edited by - LindaH on 12/04/2008 6:18:27 PM |
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theinsurancelady
Washington
38 Posts |
Posted - 12/04/2008 : 2:15:06 PM
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I received a call from a title company for a clsong and was told that the borrwers would pay me when I got to the signing. I should have been nicer and asked politely to be put on the HUD, but instead I brushed him off. Now I'm having second thoughts...have you ever had anyone ask you to do a signing with the borrowers to pay you when you arrived?
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Dear Signing Agents,
Borrower will pay you?
Be the first person to vote!