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Posted by cdcforms on 11/2/2007, 1:55 pm
Link: http://www.cdcnewsletter.com
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A few days ago I read a very disturbing blog entitled “Buyer Beware When Hiring Notary Public" In my opinion, all notary signing agents should check it out for themselves. Please feel free to send us your feedback at inbox@cdcnewsletter.com. Below please find our response to Diane Cipa of The Closing Specialists.
In response to your blog “Buyer Beware When Hiring Notary Public”. My first reaction was to ignore you. I figured you were someone who knew better but wanted the attention. However, as a notary signing agent I had to respond for the sake of my fellow notary signing agents who have worked very hard, but are never appreciated. As a notary public, if someone comes to me and ask me to notarize documents I charge them the state regulated fee which for me living in New York is $2.
However, when a lender calls me and asks me to take documents to borrowers who in most cases live at least 30 minutes from my house it is ignorant of you to say that it is fraud for me to charge $125.00. First the lender will email me the documents which are usually about 50 or more pages of which I am asked to print two sets. I am asked to call the borrower to confirm the signing. Most lenders expect me to have errors and omission insurance, and in addition to completing the state requirement for becoming a notary public, the lender asks that I take it a step further and get certified. Most lenders require background checks. After the closing I have to fax back documents to the lender.
For your information …
The lender does not pay for my notary supplies.
The lender does not pay for my certification.
The lender does not pay for my errors and omission insurance.
The lender does not pay for my background check.
The lender does not pay for the pages they ask me to fax back to them.
The lender does not pay or provide the paper for me to print more than a 100 pages.
The lender does not provide the toner for my printer.
The lender does not pay my internet service so that I can access email ...accessing the loan documents.
The lender does not pay for gas or toll for me to get to the location most convenient for their borrower.
The lender does not pay maintenance for my car.
Some lenders do not pay me if the borrower does not show up.
Some lenders do not pay me if the borrower refuses to sign.
Some lenders do not pay me if the loan never gets funded.
Some lenders do not pay me at All!
Its easy for an ignorant person to describe the notary signing agent’s duties as a “point here sign here job” but when the borrower ask me questions such as “What is my interest rate”, “What are my monthly payments”, “When is my first payment due”, “Where should I send my payments among other things”, the lender expects me to know the forms and be able to show the borrower where to find that information.
Lets not forget the borrowers who decide to read the details of the loans documents which means I have to sit there for more than an hour. Ms. Diane Cipa, I am sorry but my notary signing agent fees of $125 is more than reasonable!
Regards,
CD&C Business & Legal Form Processing Services, LLC., http://www.cdcformsprocessing.com
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