Fees pay to notaries

I need your opinion, I was offered $125 dollars for a signing, Settlement Statement showed “fee to Notary $275 dollars” I know that the Signing company that hired me had to make money but the problem here is that one of the documents in the package had the stamp that reads “Read and approved” and it was for me to sign and it was from Title Company and it showed that the fee for the notary was $175 dollars. I called the signing company and I asked them about it because I was signing something form Title saying that I was going to get paid $175 dollars not $125. They told me that $175 dollars was the total amount that they were getting for the order and, I told them that the total amount showing in the Alta Settlement Statement was $275 dollars. The agent was surprised when I said that, of course, and she told me that she was going to check on it and get back to me but, it has been about 10 days and I still haven’t heard back from them.

What exactly are you asking our opinion on? Did you agree to the $125 fee initially? Then, no offense, but you can’t get upset because you see that the signing company was getting paid $175 or even $275. You can refuse to sign the document stating that you were getting paid $175 but that’s about it. In my opinion if the signing company is the one who is getting paid $175 then someone from the signing company should sign that document, not you. Signing Companies are never going to pay you as much as they could, and you can’t get upset with them for making as much money as possible, it’s what we all do. You have to work on getting your own business directly from title companies and that way you can make what the title company would normally pay the signing company. 95% of my business now comes directly from title companies, I do less work and I make more money, and I’m even able to subcontract to other notaries and make money on their signings as well! You have to work and market to get direct title company business, but it is definitely worth it!!

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Thank you for your reply. I know that signing companies have to make money also, I am not arguing that. The problem was that they wanted me to sign the form stating that I was getting paid $175.

I would just inform the signing company / title company that I refuse to sign the form and explain because I am not getting paid what the form says. If the signing company wants to sign it because it’s what they are getting paid then they can do so. I wouldn’t lose any sleep over it, I’m sure that form isn’t something that is needed for the funding of the loan.

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I think you are making an assumption that the SS is getting paid the 275 because Title charged that amount to the client

According to RESPA Real Estate Settlement & Procedure Acts and also the local state TITLE INSURANCE ACT, the settlement statement AKA ALTA is actually the receipt (more or less) of Title premium and also other service fees etc

So providing false information to customer claiming $275 as notary fees is telling the customer that we are sending a notary for $275 to perform the services.
That could be considered unfair and deceptive practice. YOu are WELL within your right to actually complain to the Depart of Banking and Insurance in your state as to this practice and officially lodge a complaint as to unfair / deceptive practices.

I have seen many title companies sometimes says NOTARY Fee as $50, while i have been paid $125. IF i work with atitle company, I directly charge $175,
S250, If i have to pick up package, and checks.

Some title companies , generically charge an amount , I have seen as high as $365 as closing costs, NO Mentin of what notary fee is.

I guess the ambiguity of Settlement statements charges, is where the title company tries to take additional fees for services they have not provided directly , buy by you as notary.

So go ahead and file a complaint against this one, of you can let this go. As you seem fit.
The reason why notaries are getting screwed is that because , people have very LOW opinion and value about them.
The reason for that is because anyone, even one without a GED can become a notary…

SO for arguement’s sake:
A wallmart greeter who became a notary, $40 fee is a BIG JUMP. U See what I am trying to say.

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Just strike it out and sign $125.U cannot wring out extra cash after signing done. You can re-negotiate before the signing. Never after… ITs kinda a unsaid rule.

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See typical fee structure in NJ/ PA

NEW JERSEY TITLE FEES
Premium based on sales price/loan amount

Simultaneous Issued Lender Policy – $25.00
Examination Fee – $100.00
Standard Endorsement – 8.1 $25.00
Standard Endorsement – 9 $25.00
Standard Endorsement –Survey $25.00
Condo Endorsement (If Required) $25.00
PUD Endorsement (If Required) $25.00
Adjustable Rate Rider (If Required) $25.00
Closing Service Letter – $75.00
Notice of Settlement – Purchase – $50.00
Upper Court Searches – ($10.00 per name searched) $40.00
Tidelands Search – $35.00
Tax and Assessment Searches – $35.00
E-Mail package Fee – $50.00

Notary Fee – Buyer – $25.00

Recording Fees based on Number of Pages $400.00 – Estimate *

Settlement Fee – Up to 60 minutes – $475.00 – Estimate **

*Recording Fees are estimated based on number of pages. For actual fees, refer to the website for the County Recorder’s Office. You must know the exact number of pages in the mortgage and the deed, including the legal description and cover page, to quote the exact recording fee. If you do not know this information, you may use this figure to estimate recording fees. Please allow additional recording fee estimate if you are recording other documents such as a Power of Attorney or UCC-1 Statements.

**Time expenditures in excess of one hour are billed at the rate of $100.00 per hour (or fraction thereof). Time includes preparation for, conduct of, and the processing after the settlement, including travel time – There is an additional fee of $25.00 for out of office closings and $50.00 for closings held outside normal business hours. Additional fees, such as tolls, mileage, etc. may be added as well. Our estimate is based on a closing of more than one hour, held outside our office before or after normal business hours.

NEW JERSEY TITLE FEES (REFINANCE)
Premium based on sales price/loan amount

Examination Fee – $100.00
Standard Endorsement – 8.1 $25.00
Standard Endorsement – 9 $25.00
Standard Endorsement –No Survey/Survey $25.00
Condo Endorsement (If Required) $25.00
PUD Endorsement (If Required) $25.00
Adjustable Rate Rider (If Required) $25.00
Closing Service Letter – $75.00
Notice of Settlement – Refinance $25.00
Upper Court Searches – ($10.00 per name searched) $20.00
Tidelands Search – $35.00
Tax and Assessment Searches – $35.00
E-Mail package Fee – $50.00

Notary Fee – Buyer – $25.00

Recording Fees based on Number of Pages $300.00 – Estimate *

Settlement Fee – Up to 60 minutes – $475.00 – Estimate **