Does anyone know if there is a government entity that oversees Signing Services? I would like to talk to them about a signing service that has not (and apparently will not) pay for completed signings. I’ve heard that some deadbeat services close up shop and re-open under a different name. How do we hold the deadbeats accountable – and avoid encountering them under a new name?
This particular issue is not typical. I have had only 1 signing service that hasn’t paid me. I work with tons of great signing services that pay promptly and are wonderful to work with.
Close only for titles companies.
Great advice! When I started as a notary last year I was told to sign up with every company on the NotaryRotary list that has a high rating. I did so and have built a solid business. Many title companies don’t work with newbies, so I initially worked with signing services. It’s a great way to start, because they’re patient with newbie questions. Unfortunately, one of the services I worked for owes me about $300 and has not paid. I’ve contacted the title company involved in the signings and still have not been paid. I’m sure signing services are subject to government regulations and oversight, I’m just seeking to file a complaint. I realize I may never be paid for these signings, but I’d like to know that the signing service in question is stopped from taking advantage of other NSAs. If you search for “Notary Pool” you’ll see many postings here (and on other forums) showing they owe a lot of notaries for unpaid signings. When I conducted their signings, I took them via Snapdocs and did not check their rating on Notary Rotary. This was my error. Now that I’m a little more seasoned, I know better. As a new NSA, I was more trusting. In one of the forums, there’s a post that says the owners of The Notary Pool have started another signing service and will likely repeat their unethical practices there. I’d like to see the cycle broken.
NNA or AAN
Mortgage related transactions are regulated by the CFPB aka Consumer Financial Protection Bureau. When a signing company doesn’t pay they are connected to the title company that has hired them to dispatch that signing. Since the borrower has already been disclosed fees through the Closing Disclosure aka CD they are bound by Regulation X which is Real Estate Settlement Procedures Act aka RESPA.
It is illegal for them to charge the borrower and retain the fees without paying the service provider. This would fall under a violation of RESPA.
Tell them and the title company that you are going to file a complaint with the CFPB and that attitude will change.
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Excellent point, Jason! Like others, I rarely get “stiffed” - good accounting practices and faithfully reading forum posts help - and had not considered the CFPB link to the fee charged the customer per the CD. Future ammunition! Thanks!