Notary and courier fee

Posted By: THEBANKERLADY

Notary and courier fee - 11/25/15 12:49 PM

We have a loan where we provided a list of providers with the Loan Estimate and the customer ended up choosing someone off that list. The Attorney charged both a courier fee and a notary fee. I am aware that once the customer chooses someone off the list, then they automatically go into the Services the borrower did NOT shop for on the Closing Disclosure. The only question I have is do the courier fee and notary fee go in there as well and also, what are their tolerances? 10%?
Posted By: rlcarey

Re: Notary and courier fee - 11/28/15 12:46 PM

My first question is why is a service provider that you have on your list charging additional charges over and above what you have already agreed would be charged??? That is why a service provided is on your list, because you know what they will charge ahead of time.
Posted By: swiggles

Re: Notary and courier fee - 11/30/15 03:47 PM

Confusing terms......some have been using "off the list" meaning the applicant did NOT choose from the list. Do you mean the customer did not choose from your list?....chose a provider not on your list?
Posted By: RR Joker

Re: Notary and courier fee - 11/30/15 03:57 PM

I expect to run into that problem because every deal is not the same. If they chose from your list, those fees will be 10% items.

It's best to discuss the particulars with the service provider before preparing individual LE's. Some will have courier fees and some won't...however the notary fee, if separately charged, should be a 'known' fee for each closing.