They usually get paid within 2 weeks or so from the title companies. The title companies want to close out the file. The signing companies probably put the money in interest bearing accounts to collect at least one month interest.
That’s exactly what I do also. Their first offer is always lower than what they can really pay. I say counter… counter, counter.
Depends on the signer. Some would rather just have their digital copy, buy older people, or those who dont use computers in their daily life, may prefer paper. I ask when setting the appointment. I keep a supply of manilla envelopes for that. Then I label it and tape on a business card.
Yes I do that as well. As long as they have a copy I believe it still meets the instructions of the title company and checking with my real estate attorney they agree there is no legal repercussions.
Yup. I felt dumb. But, I have a hard time asking for more when I’ve already negotiated the fee. “I said I would do it for $125”. So, I felt obligated. On the other hand there are times when I get a 16 page seller package for $100. So, it all kind of works itself out.
My last Mortgage Loan – I told Escrow to send me the documents, as I was a LSA. Then I paid one of my notary friends to Notarize. (i made it super easy for my friend - took her 10 minutes) This saved me over $100. I think most Escrow folks are flexible – for your next refi.
Just wondering… you got hired by a title company and then got a notary friend to do it for you? And they allow that?
I don’t get the last sentence either. Can you explain?
“I think most escrow folks are flexibile – for your next refi.” Can you explain that?
That’s how it was done. Escrow shipped a full set of documents and a copy directly to a borrower, instructing them to hire a notary to notarize the legal documents. I got hundreds of calls from my yellow page ad to notarize loan packages. That was the early 2000s, and I remember my favorite loans were for Texas properties. I charged by the signature, and those loans were overloaded with notarized documents.
No veg, Escrow works for Expert1, who hired a notary to notarize his loan
If you are hired as the notary, you cannot subcontract to anyone else. There are services who will blacklist you for that. But I don’t think that’s what he was saying.
For this discussion, Veg is the borrower who can choose who notarizes his loan.
My base fee is $165 and I charge more as I travel further away from my home. I don’t go below it unless it’s around the corner from me or only 20 pages or so.
Did you ever get the link or URL for the video from the CEO of Snapdocs? If yes, will you please send it to me? [email protected]
Frustrating isn’t it. I had a service that wanted me to travel 50 miles round trip, print 123 page reverse application package, twice. Sign the docs, scan them back and then go and drop them for next day delivery, all for $50. I would have been the second notary to do this signing, but I declined. I have countered offers with this service and never receive a reply. I have started getting offers from two more services with the same demands and $50 offers. It has become an industry trend that is going to force us to diversify our businesses (which is a good thing) and at some point we will become less dependent on loan signings to support our business.
@takenotenotaryservices ===>>> On these types of Signing Orders [SOs], REMEMBER to double-check their payment interval.
Why (one might ask)?
Some business entities state in the fine print that the SO for the reverse application will be paid when (and if) the loan goes through AND if you receive the SO for the loan . . .
.
For most of us, that’s way TOO MANY RED FLAGS.
Caveat Venditor!
I’m not running to do any reverse mortgages. To time consuming and to much expense for the fees they’re paying, when and if they pay.
Oh! My response was based upon your statement (see excerpt above).
Just a cautionary note from direct experience . . .
Not just in the fine print - back when it was “a thing” to call the notary on the phone and this was said to me, I made it clear no, my fee is due and payable upon receipt of my invoice. I would not wait as there are too many variables that would interfere with my payment - loan doesn’t fund, I’m not available for final signing, I’m just not called for final signing, etc etc.
Nope nope - total no-go for me
Concur percent!
Concur percent!
It’s not only large companies that take advantage of notaries—many smaller signing services are doing it too. They agree to pay a full fee, but if the signer decides not to sign, they reduce your payment to $25–$35. This happens after you’ve invested your time, printed the documents, traveled, and assumed all the costs that come with running your business. That reduced fee often amounts that are a fraction of the original agreement.
Let’s be clear: you are not responsible for the lender’s or borrower’s last-minute decisions. If you fulfilled your part—preparing, printing, showing up—you’ve earned your full fee. It’s unreasonable to expect notaries to bear the financial burden of a failed signing that was out of their control.
If this happens to you, it’s important to reach out to the signing service and explain your position respectfully but firmly. Let them know that you expect full payment per your agreement and that you will reconsider accepting future assignments if they don’t uphold their end. More often than not, they’ll find a way to resolve the issue once they understand that local notaries won’t work under unfair conditions.
You deserve to be compensated fairly for the work you perform. Stand by that—professionally and consistently.