Good day all! I am curious if anyone else has been advised that there pay will be delayed by Safe Secure signings. I have over $350 due to me and was advised last Thursday that Freedom Mortgage has changed the way they pay SS and this is the reason for the delay. I reached out SS again on yesterday for an update and am now being told that they are playing catch on payments and that they are up to May payouts and to be patient. They also reminded me that the 45 NET Pay can come with additional delays beyond their control
Does anyone know if there is a way to be compensated late fee for past due payments? I am beside myself because I had to negotiate an increase in pay on all of the assignments and now this.
In my experience “late fees” are not easy to collect. Is it 45 calendar days or business days? Unfortunately, as notaries we have to be prepared to absorb a payment here or there that falls beyond the preferred net 30.
Have you contacted Freedom Mortgage to check on what you were told? Sounds more like that SS doesn’t have the necessary funds to run a business. They should not have to wait on being paid to be able to pay their notaries. You were hired by Safe Secure Signings. Safe is responsible for paying you at the agreed-to interval regardless of when their client pays them.
The way it usually works is: lender pays title/escrow company by funding the loan in an escrow account; title/escrow company pays the signing service; signing service pays the notary.
I would suggest you contact the title/escrow company and the lender (Freedom Mortgage) and inquire if they’ve paid Safe Secure Signings and advise them of what you’ve been told. As a word of caution: you may lose Safe as a client; but, they’re not paying you anyway so what difference does it make.
