I had a heart to heart with a signing company representative about their payment
delay. The nice guy on the other line explained it’s because some title companies are going out of business and not paying them. He said “Some title company owners have the courtesy to
call and tell us their going out of business and others don’t.” I said “Thanks so much for letting me know.” and he said “Thanks for your patience and understanding.”
. WOW This is really happening you guys. HOLD ON AMERICA…
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And that is a totally unacceptable answer - your fee should not be contingent upon the signing service being paid. No, it’s not true - that’s just another one of the stall tactics used by SSs - all his explanation indicates, to me, is this company is underfunded.
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Really!?!?! Shocking So theyr’e supposed to have enough income to cover for that??
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Sorry but that is pure BS. Escrow closes and everyone gets paid that is on the settlement statement. If what this ahole said was true then no one on the ALTA received their money which you know didn’t happen. They aren’t managing their cash flow properly…plain and simple
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They are full of BS. That is the title companies job to make sure everyone gets paid and on time. They are governed by the insurance commission and would never get away with that. These SS’s are a joke!
I’d be calling back and demanding my fee!
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Yes! Most SS’s don’t and that’s why we have to beg for our money. Any business should make sure they have the funds to pay regardless if they get paid or not. Poor business practices there!
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thanks for the info 
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That is the biggest lie. I work with many Title Company and my BFF is a Vice President for the biggest Title Company in CA. They are required by law to disbursed all the Clients Funds including the Notary who closed the loan as soon as the Escrow is closed. These are a bunch of criminals stealing your hard earned money. You work hard for that signing. They need to stop stealing. Someone need to put an end to this criminality and pay the Notaries as soon as they get the money from Title Companies
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GET THE CRIMINALS Maybe I should give that signing service owner a call and TELL HIM OFF!!!
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I’ve said for some time now, when the usual pay cycle starts to lengthen be vigilant as this is an indicator of a cash flow problem. As some have discovered that pay cycle has lengthened to infinity.
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I executed a signing for NB Notaries in September, and still have not received payment. I reached out to him 12/8 he claimed the check was mailed in October and he will cancel it and resend it until today I have not received the payment. This is despicable. If you can’t manage your cash flow, you shouldn’t be a SS.
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So miss the days of averaging 5-6 closings a day. Now? Maybe 2 a month. The payment delay is BS, just an excuse. I have done over 5k closings, and can pretty much weed out the BS companies.
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What a coincidence I just got an email from a signing service stating that they were going to change their pay schedule!!! DUN DUN DUN DUN
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Which is the very reason that a lot of them are shutting down.
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I contacted a SS yesterday and was given some BS excuse blaming title. I said I was going to contact title about non payment and low and behold I had an e-check literally 1 minute later.
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well that does it. I need to make phone call
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Care to name names? I don’t work for the non truthfull.
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Well, according to what I learned here, any signing service that makes you wait more than
30 days is a candidate for non truthful. or is it 45 days…
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I don’t believe the part about not getting paid by title companies or the bad checks part.
I was in the title business for 40 years. Owned my own company for 15 years. The fee to a notary service or a mobile notary should be a line item on the CD and, if so, that money remains in the title company’s escrow account (a trust account) and is used solely to pay the items listed on the CD. A violation of that trust (such as using the funds to pay business or other expenses) opens the title company to criminal charges and it’s title insurance underwriters will terminate the company’s contracts to write title insurance, which puts the company out of business. The title insurance underwriters audit the title companies’ escrow accounts at least once a year.
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Those hired by a SS are paid by the SS - and I bet the SS is paid out of the operating account of the title company - so, funds disbursed from trust account to title the monies paid from title to SS out of separate account. No auditing of the operating account.
@RodinDestin what you describe is how it worked in CT when I was working real estate for a closing attorney - they had two accounts - firm account and trust account. And yes, every penny in the trust account had to match the CD (HUD at the time)…or held in the trust account if not disbursed immediately for whatever reason.
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