Working In Harmony-Part II

By
Services for Real Estate Pros with Central Wisconsin Notary

 A Forest

Working In Harmony-Part II

To All Entities that Hire Notary Signing Agents

As businesses, we all have guidelines and requirements we follow in order to pave a path of success for our businesses.  In order for us to achieve high success, our business plans include what kind of service we will provide and also what kind of companies we will work for.  As a NSA, we extend credit to companies who hire us.  Payment can be anywhere from 7 days to 45 days.  Granted, the 7 days would be ideal for all accounts but that is not reality as a NSA.  This blog will inform you of questions or information a NSA might request of your company when you call to hire them.  Its information we use to run efficiently from signing to signing.

  • Company Name, Address, Phone Numbers, Owners Name

I personally keep all this information for the Companies I do a lot of work for.  Also kept is after hours phone numbers, fax numbers, email addresses, website addresses.  I also write down payment policy of the company so that I don't have to ask for this information every time a company calls me.  

  • What is Your Payment Policy to Your NSA's?

It is very important for us to know when we will receive payment.  The payment you provide us is what pays for the next signings expenses and it keeps revolving in that fashion.  We are not any different than anyone else, if we are told we will be paid at a certain time, we expect that payment to be there.

  • What are Your No Sign, Cancellation, or No Show Fees Paid?

This is an unfortunate situation for companies, but the NSA will need to know what your payment policies are in these situations.  NSA's differ on what they will accept or not accept and sometimes it can be contingent on different issues.  Remember a NSA has extended credit to do a signing.  They will have used out of pocket expenses of gas, paper and other expenses before they have become aware of a No Sign, Cancellation, or No Show.

  •  Special Requirements for Loan Signings

Do you have special requirements that NSA will need to be aware of.  Examples: the loan package needs to be initialed by borrower(s) on all pages.  An invoice sent back with the loan package.  A follow-up phone call after signing.

  • A Confirmation

This will give all relevant information(borrowers name, address, phone number) for the signing and will dictate the fee agreed upon from both parties.  Please read "Working In Harmony-Part I" to see why this information is important to a NSA.  The fee is put on the confirmation to serve as a contract of payment and also insures there is no miscommunication on the fee.  The confirmation can be sent via email or fax usually.

In conclusion, a NSA might need to research your company before they accept any signings.  The reason being is, we might not know of your company and need to make sure you are forthright in your payment policy.  It is a safety measure we have to take in order to protect our businesses.   Its no secret what the market is like today and unfortunately the NSA has the highest percentage rate of not being paid if a Company decides to close their doors.  You can read my blog titled "Are You a Good Company to Work For?" to understand where I am coming from.  

Lisa Kimmel Signature

 

 

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Lisa Kimmel

Mobile Loan Closer - Notary
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