Not getting paid if the loan cancels

[mkmobile]

One of the newest issues I have come accross more recently is the fact that some companies do not want to pay the Notary if the loan they did for them recinds or cancels within the three day period. I have found it stated on a couple of the confirmations the companies send when you accept a job. It is something to start asking when you accept a job with a company that you haven't worked for before. When someone cancels, it has nothing to do with the job you where hired to do. You did what you were supposed to, and you should get paid. If you missed something, then you know about it right away. And you have to fix it. If you travel to an appointment and they dont sign, you should get paid something. It depends on how much time you spent there, and on the company. Just watch out. I have called these companies back and told them I wont do it.

[JohnW]

Our Payment on cancels is usually based on the following:
trip to closing =$25 if you made the trip; $0 if you didn't
printing =$25 if you printed the docs;$0 if you didn't
time at table =$25 if more than 15 minutes;$0 if < 15 min

So you can be paid up to $75 (the sum of trip+print+time).

We also bill the TC for these cancels, and most of the time, they pay us.

BTW: our signing company makes $0 on cancels; we take no markup, but still do the billing to TC & payment to the closing agent.

[jlissem]

John W
That is a fair policy.
Jim Lissemore
www.Flexo-Notaries.com

[RetNavyChief]

That sounds fair to me. My question would be, do you pay extra for mileage? Say you have to travel 80 miles one way?

[joriecolyer]

Mileage would be paid if you go further than you advertise or state you will go. I have never had a problem with a company paying for mileage. I advertise that I will travel 50 miles and anything over that will be additional. With fuel prices these days, it is only right.

[JohnW]

In addition to our cancellation pay policy, as listed above:

We tell our TC clients that our basic fees include:
1- closing within 25 miles of Signing Agent (50 r/t)
2- usually +$25 for each increment of 25 additional mi.
3- if edocs, printing includes 2 copies (lender,borrower)
4- added copies = +$25 per set of 1 or 2 copies.

Note: added mileage charges (#2 above) should be paid even on cancellations at the table, since the SA made the trip.

[mkmobile]

One of the newest issues I have come accross more recently is the fact that some companies do not want to pay the Notary if the loan they did for them recinds or cancels within the three day period. I have found it stated on a couple of the confirmations the companies send when you accept a job. It is something to start asking when you accept a job with a company that you haven't worked for before. When someone cancels, it has nothing to do with the job you where hired to do. You did what you were supposed to, and you should get paid. If you missed something, then you know about it right away. And you have to fix it. If you travel to an appointment and they dont sign, you should get paid something. It depends on how much time you spent there, and on the company. Just watch out. I have called these companies back and told them I wont do it.

Sorry this was placed in the wrong forum.

[ebaynmore]

How do you figure your mileage costs? Do you charge like $.30 a mile or do you charge a flat rate?

[mkmobile]

Everyone is different. If the job is in an area that I'm not sure of, I ask them to Map quest it for me, address to address, and ask them for the minutes and miles. Then I decide from there if I am charging $10-$20 more. I have been caught a few times when I relied on the name of the town. There are many areas here that have grown and towns have extended the zip code area. After two or three times of traveling to an address that was not even close to the town they told me, I learned to ask for the minutes not just miles. If I cant map quest it myself, they are more than happy to do it. It helps if I have to worry about my time between closings also. You have to have a set mileage range that you will travel for your standard fees. And then add on from there. If it is futher than my normal, I tell them that and ask how much they are willing to pay. These days I ask this question before I ask anything else. Some companies dont want to pay enough to begin with, no matter how far.

[JohnW]

In response to Mar 30 question from RetNavyChief:

SLB Signing pays $25 for each increment of 25 miles r/t; Examples: first 25 miles r/t = $25; if 26-50 miles r/t then $50; if 51-75 miles then $75, and so on. These increments seem to be acceptable to most TC's.

[elitemobilenotary]

[quote="ebaynmore"]How do you figure your mileage costs? Do you charge like $.30 a mile or do you charge a flat rate?

[/quote] I would ask your tax prepayer if you are going to price by the mile. I can't remember what the IRS says you are allowed to charge per mile but I know it is a LOT more than 30 cents a mile. I go by drive time myself. A closing can be 15 miles one way but if I know that it will take me thirty + minutes to get there it is 25 dollars more.