Phil: Do you have a sample letter that you use to send to the title companies for work? I would love to avoid the middleman. Thanks for your help and your advice. Kimberly.
I believe it’s in the top left corner of your dashboard.
Regarding SnapDocs, I’ve had them take me off their site because the fees offered are ridiculously low and some of the signing companies have negative information posted about them.
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You need to send them a Formal Demand Letter for payment and if not paid in the time frame outlined in your letter, you need to pursue collection efforts! We can NO LONGER ALLOW THIS!!!
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That’s the best I heard!!!
Better yet, send a letter to your State and Federal legislator/representatives asking for Federal and State legislation to regulate these “signing service” agencies. Whether they pay or not is not the issue. It is the fact that there is absolutely no regulation of them. Many of them start a business, collect the money from the lenders and then file bankruptcy, never paying the notaries they contract to do the signing! Then in another month or so they open a new business under a different name and repeat the same cycle! Unless and until we get legislation to regulate them, this practice will continue unabated. In your letter, name all those that are slow to pay or no pay at all, along with any names, addresses, phone numbers, websites, and any other information you can gather. I am recommending a $1 million bond be posted with each state where the signing service does or intends to do business. At least that way, the notaries can file a claim with the bonding company for payment. I also recommend that the signing service be prohibited from hiring any notaries until they have repaid the bonding company for any monies paid out to notaries, bringing the total amount of the bond back up to $1 million. Notaries should not have to spend their time doing collections. The signing services get paid within days of the title company disbursing the funds, so why are the notaries not being paid?
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After 60 days and no pay, we sent them a overdue invoice, and cc’d the title company and we were surprised that the title company sent Signing Stream an email, saying we do a lot of business with you folks, please pay this notary for his service and a check came right away.
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I let them know thru the invoice if they don’t pay the client will get the bill.
Yes, and it doesn’t matter if you receive his phone call while navigating through traffic.
Thanks for the information.
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