I had a closing with borrower. He made several attempts to call the loan officer on her cell phone and left several messages. After that he decided not to close. I contacted Marcy and she attempted to explain his disclosure documents to put him at ease. This did no good. When I questioned her about my pay she told me that I was only to get one half of original fee of 100.00. I told her this wasn’t fair. We had a email fight and then she threatened to not pay me at all. I received an email asking wht did the notary do . I answered the email stating I drove to the borrowers home, printed 2 sets of documents and even used my iPad to take pictures if his disclosure documents to send her the pictures so that she provided an explanation to make the borrower feel at ease. Marcy is quite unprofessional and she didn’t have anything in writing nor told me verbally that if the borrower refuses to sign, that I wouldn’t get my full fee. According to National Notary Association, this is illegal.Marcy told me that since I kept emailing Closures who sent me the email that I should not have continued calling them and she said I was harassing them. Never take an assignment from her alleged company.
You should get a travel fee and a print fee.
Usually travel and print some companies only pay 25bucks so if she offered 1/2 the fee consider yourself lucky. Its the nature of this busuness.
These companies are paying for our time. There should be no such thing as a “trip fee” especially in a situation where the lo made himself unavailable. The cost of sending a notary out when a no-sign occurs should be built into the company’s cost of doing business. We shouldn’t have to provide charity work to signing companies.
What about in cases of REFI when the borrower exercises his 3 day right to cancel and the loan does not consummate? Does one get paid full notary fee? Any one had that experience?
The appraiser still gets paid even if the loan doesn’t close or the signer exercises their right to cancel after signing. The surveyor still gets paid even if the loan doesn’t close or the signer exercise their right to cancel after signing. The lender and title company understand that some expenses still have to be paid even if the loan doesn’t close.
I personally require my full fee if I completed the signing and the signer exercises their right to cancel. I did the job I was hired for, I expect to get paid, however in my experience this hasn’t happened very often.