Can a notary legally charge a loan officer if the borrower signed the loan documents but the lender shut down a few days after so the loan didn't fund. The notary did her job but there was no agreement that she would get paid if the loan didn't go throuh.
2006-12-05 06:06:59 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Yes. If the loan closed, then everyone should be paid. If you were hired directly by the loan officer/bank, then send them the bill for payment. Remember: The Appraiser always gets paid even if the loan isn't even approved. What makes a notary any different??
2006-12-05 06:10:45 · answer #1 · answered by KC 5 · 0⤊ 0⤋
A notary public is only allowed to charge a nominal fee for service. It's hardly worth pressing the issue. It's usually only $1 or $2 at most.
2006-12-05 06:18:54 · answer #2 · answered by glitterkittyy 7 · 0⤊ 0⤋
Yes they can. I have never had any title agent charge for work that did not fund. But yes is the answer. Just as an appraiser can charge you after the fact for a loan that did not close if they did not collect from the client.
2006-12-05 06:16:14 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋
Yes, they can charge because they rendered service. Their job is solely to witness signatures and administer oaths if needed; it doesn't particularly matter to them whether or not the loan funded.
2006-12-05 08:55:24 · answer #4 · answered by Sithein 3 · 0⤊ 0⤋
ABSOLUTELY, NO QUESTION!!! Agreement is not required, fax him an invoice!!! Reference the borrower, the documents that was notarized, the date, etc.... That's all you need!
Good Luck with that tho! and its' little bit more than just $1.00 or $2.00!
2006-12-05 06:12:36 · answer #5 · answered by ALEGNA 3 · 0⤊ 0⤋
If you are the notary, you should be paid for your work.
2006-12-05 06:17:09 · answer #6 · answered by fcas80 7 · 0⤊ 0⤋