Posted by Calnotary on 9/10/06 5:38pm
Msg #144984

LSI, wants to lower even more our fees?

Attention



LSi Signing/closing vendors



COst of Document printing via email/internet



LSI would like to take this opportunity to thank you for your continued support and partnership. As a partner, it is important that we clearly understand the changes within our industry and reassess business practices to retain our market share.



LSI has experienced a significant increase in the volume of orders requiring loan document packages to be printed via email or internet by the signing network. Our industry is extremely competitive; lenders must find the competitive edge and clients continue to look to LSI to reduce fees and streamline processes.



It is IMPERATIVE that our signing network understands the challenge and makes the necessary changes to reduce fees. Printing of documents may incur additional cost – but not $15.00 to $20.00 per loan documents. Purchasing toner and paper in bulk will eliminate supply costs. Identification of costs must be reviewed and analyzed so that your processes are streamlined and fees are reduced. Adherence will provide continued orders as a viable member of the LSI provider/signing network.



Attached is a pricing information sheet that requests signing fees. Please review your current fees and adjust these fees to meet the changing requirements of our clients. Upon receipt LSI will review and contact you if we find that the pricing is not acceptable to continue our relationship.

Reply by DellaCa on 9/10/06 5:55pm
Msg #144985

I received it also, I think I will ask them if they will replace my printer if I use the bulk toner and refill as that will void my warranties on my HP printer. I think we know what the repl would be.

Reply by PAW on 9/10/06 7:02pm
Msg #145001

Does not void your warranty

Just a note about using bulk toner and refilling your cartridges. The toner and cartridge are considered consumable items and as such, the owner is free to use whatever brand is designed for their printer without invalidating their warranty. However, it is prudent to be able to prove to HP that the problem is not due to the use of bulk toner or refilled cartridges, which HP then will say the resolution resides with the manufacturer of the toner or the person who performed the refill.

Since the use of refilled toner cartridges does not void the warranty, to show that the problem is an HP issue, be sure to have a fresh new HP cartridge available and the ability to replicate the problem using all HP supplied parts and consumables.

Reply by Glenn Strickler on 9/10/06 8:58pm
Msg #145023

Re: Does not void your warranty

I only seem to have printer problems 10 minutes after the warrenty is expired anyway ...

Reply by Roger Kennedy on 9/10/06 9:14pm
Msg #145026

Re: Does not void your warranty

Unfortunately, I have a HP4200, it is very very hard to find bulk toner. I have seen some on the internet, but the cartridges are still very expensive a regular toner for me is normally $125 and sometimes I can find it as low as $90. All I need is more clients like SOX who dont pay and I can barely make ends meet because of my printing expenses were not met.

Reply by DellaCa on 9/10/06 11:21pm
Msg #145042

Re: Does not void your warranty

I stand corrected Paul, I swear I read that in the book I recieved with my 1320tn but maybe not .Thank You for the correction.

Reply by Brad_CA on 9/11/06 1:12pm
Msg #145168

Re: Does not void your warranty

Will using refilled cartridges void the printer manufacturer's warranty?

No. The Magnuson-Moss Warranty Act prohibits the manufacturer of the printer you are using from voiding the warranty because you use a refilled or remanufactured cartridge. Printer manufacturers will almost always advise you against refilling. The simple reason for this is that manufacturers would like you to buy their expensive replacement cartridges and accessories. Even with the protection of this law, you should also feel confident that cartridges sold, refilled or remanufactured by Cartridge World will meet the performance of original cartridges. Our own warranty also extends to your printer on any valid claim!

Reply by Amy Tatusko on 9/10/06 5:55pm
Msg #144986

What? I have read this twice. Let me rea it for the third time....before I respond.

Reply by donnafl on 9/10/06 5:57pm
Msg #144987

They tried to recall the message - don't know what's up with that.

Reply by DellaCa on 9/10/06 6:03pm
Msg #144989

Re:It was re-sent with an attachment to fill out n/m

Reply by LarryTN on 9/10/06 6:03pm
Msg #144990

I got the email too. I filled it out, stated my fees, and emailed it back to them! I'm sorry if they do not want to do business with me! Evidently they think the wear and tear on my equipment plus my valuable time are of no consequence!

Reply by Calnotary on 9/10/06 6:09pm
Msg #144991

Why they don't email FED EX and UPS and tell them that to lower their shipping prices? Because they will laugh at them!
Ah! but let's do it to the notaries, they accept what ever they say.

I have sent a fax with my prices plus 5 dollars more in every package. If I get removed from their database, good!

I have done recently e mail signings where I get 5 emails and each e mail has 5 or 6 more attachments. So my time is not valuable to them?

Reply by Roger Kennedy on 9/10/06 9:15pm
Msg #145028

I already replied, I am keeping my fees the same. I cannot buy bulk like the big guys.

Reply by Sylvia_FL on 9/10/06 6:10pm
Msg #144992

Re: LSI, wants to lower even more our fees? - Donna

They "recalled" their initial e-mail as it was sent without the attachment.

They have to remember it is not just the cost of paper and toner but our time is also involved - and the wear and tear on the printer.

Reply by Glenn Strickler on 9/10/06 6:15pm
Msg #144993

Sent in my fees. I am sure that I will be blown out of their data base. I guess they think that the time we spend printing docs is not worth anything ... .

Reply by mgt51 on 9/10/06 7:55pm
Msg #145010

Just say NO!

If nobody accepts their order, it goes to another SS, then another,etc.,etc.

I've gotten calls from 1-5 companies in one day with low ball prices for the same closing.
Eventually one will pay what is reasonable.

Guess what, if they can't fulfill their contracts they are out of business, and the tiitle/settlement/brokers should deal with us directly. that would be the smart and economical move!

Reply by Sylvia_FL on 9/10/06 8:11pm
Msg #145013

Re: LSI, wants to lower even more our fees? - mtg51

Problem is LSI is not a signing service, they are a title company!

Reply by Roger Kennedy on 9/10/06 9:18pm
Msg #145029

The title companies need to monitor the SS to see if they are paying the notaries or stiffing them like SOX does. If the SS is stiffing the notaries then it should be the title compainies who will no longer do business with the SS. Just deal with the notary and cut out the SS, I agree with you.

Reply by OnTheDot_CO on 9/10/06 6:17pm
Msg #144994

Not only do we have the cost of our supplies, we also have to have a fast internet connection to retrieve the documents. So if I add up my time to print them, the cost of paper and toner, the cost to replace parts in the printer or replace the printer, then even at 25.00 per package, they are still getting a deal. Fedex and Ups is not going to lower their prices. And what about an increase for the gas prices? I am not lowering my cost.

Reply by Diga2Lin/FL on 9/10/06 6:23pm
Msg #144995

I had a company tell me the other day that it doesn't cost any more than $3-$4 to print a package - they didn't like my print fee..<G>

Reply by PA_Notary_II on 9/10/06 6:35pm
Msg #144996

Tell them that all future packages will have to be sent overnite. Let THEM print the package at THEIR expense and pay for the FedEX mailing both ways. This is B.S.... before e-mail docs came about they were paying more per close and we were commited to less work...now the reverse is true. Let's stop and evaluate how many dollars the TC's have saved by how many employees they now don't have because WE are doing their copy and package assembly work. We also have absorbed the expense of paper and toner...if it's only 3 to $5 per loan why won't THEY spend the 3 to $5 and print it themselves?

Reply by Diga2Lin/FL on 9/10/06 6:39pm
Msg #144997

Re: Overnight docs

That was my thought - you don't want to pay me to print 2 packages?? - or 4 if a Heloc too...okay...you overnight me 2 or 4 packages with all required duplicate/triplicate/quadruplicate copies - and make sure you have that package to me 24 hours in advance of the signing appointment so I have time to review and YOU have time to overnight corrected docs if necessary.

Wow...am I undercharging!!..

Reply by BrendaTx on 9/10/06 7:11pm
Msg #145003

Diga - it is true what they say about the cost to print a package -- if you recharge and buy in in bulk, especially...give or take a dollar or so.

However, let's get our perspective clear...

When we print a set of documents, we must not only count the toner, the paper and the electricity, the wear and tear. It is a service which requires a Texan (large package) around 30 min to an hour to perform. $25 is cheap.

EVERY SINGLE business I know of marks up the services they perform.

Don't you get it? The people we are working for really do want us to ONLY break exactly even on the jobs we do for them. They want to make the profit on marking up on OUR services.

No.

Reply by Diga2Lin/FL on 9/10/06 10:39pm
Msg #145037

Oh Trust Me

I get it - I was just passing along the "information" I Was given by the service I was signing with - he didn't want to pay me what I wanted for a print fee -

HOWEVER....despite his quote of $3-5 for printing a package he offered 4 times that amount as a print fee - so he knows he's blowing smoke -

Reply by Kate/CA on 9/10/06 10:00pm
Msg #145035

They didn't think your time was worth anything? n/m

Reply by Charles_Ca on 9/10/06 6:55pm
Msg #144999

Reminds me of the old saw about how to boil a frog

The only way that you can boil a live frog (so the story goes) is to put it in a pot of cold water and let the heat come up gradually and by the time the frog realizes what is going on its too late. Well this is what has been happening. The only way to counteract this is to band together and stick to your prices. There is always downward pressure on pricing and the only way to counteract it is to resist it every time its tried. Eventually the people who try to meet the constant downward pressure to cut prices will be out of business and then the signing services will have to accept the prevailing price. Check out Brenda's posts below regarding notary networks, its the wave of the future for those who wish to remain in this business, it will get better and the notary networks are the wave of the future, the SS will have to deal on the networks' terms!

Reply by EastTxNotary on 9/10/06 7:00pm
Msg #145000

Re: Reminds me of the old saw about how to boil a frog

I have to agree with you Charles. I don't feel the need to justify my fees to anyone. I offer to do the job for $xxx.xx and they can accept at that price or move on to the next NSA. You know, if I can't afford something at Macy's...I just have to go to Walmart and see if I can find something similar knowing that the quality will not be there, but the price is lower.

Reply by kathy/ca on 9/10/06 7:19pm
Msg #145005

They recalled the email, maybe they have 2nd thoughts after

reading the board, ya think? ha ha!

Reply by Sylvia_FL on 9/10/06 7:40pm
Msg #145008

Re: They recalled the email, maybe they have 2nd thoughts after

Kathy
They sent two e-mails out, they recalled the first one as it had no attachment.

Reply by Brenda/CA on 9/10/06 7:41pm
Msg #145009

Re: Reminds me of the old saw about how to boil a frog

I had a lady call me last week on Tuesday for an equity signing on Saturday I told her my fee was $xxx.xx, she said she was only authorized to pay $50.00. I told her I would not leave my house for $50.00. She asked me how I could justify my fee when her package was only about 50 pages or less (with only the DOT to notarize), and the borrower would already have the documents. I told her I already quoted her my fee for overnight documents, whether it was shipped directly to me or the borrower was irrelevent, and e-docs would have been $25.00 higher, and I do not do piece work. She told me she would have to find another notary because I charged to much. Wednesday morning she called me back to let me know that she got my fee approved.

Reply by Glenn Strickler on 9/10/06 8:57pm
Msg #145022

And, Brenda, when the BO already has the docs

half the time, at least in my area, they open them, begin sigining them "to save time", mix them up with the copies etc, and it ends up being more work. I once swore (on this board, I believe) that I would never do another signing where the BO has the docs. Well, I took that back, but I sure as hell am not lowering my fees.These companies who are trying to lower notary fees are trying to carve fat from the wrong end of the roast ......

Reply by Diga2Lin/FL on 9/10/06 10:43pm
Msg #145038

Re: And, Brenda, when the BO already has the docs

I haven't run into that scenario yet but I cringe every time I read that the borrowers got the docs first - what a mess that must create - what happens if you get all the way there and they say "Oh these are no good" - go home and go back??...jeesh..

Reply by Glenn Strickler on 9/11/06 1:26am
Msg #145051

Re: And, Brenda, when the BO already has the docs

So far, I have always been able to put the package together using the copies to replace the spoiled documents. But it's is a giant pain in the neck.

Reply by BrendaTx on 9/10/06 8:23pm
Msg #145014

Frog boiling recipe...Great analogy, Charles!! n/m

Reply by Charles_Ca on 9/10/06 8:56pm
Msg #145021

Thanks Brenda! Notaries should not take it personally...

it's just business! It is up to every business to get the best deal they can. Signing services only have one real hard major cost and that is the notary. Every cent they can save on notary work is more money in their pocket and as a good business they need to keep trying to feel out the floor of the market: as long as they get takers they feel that they haven't found the floor. It is also up to the notary to ry and get the highest price you can for your service. So don't take it personally when the scheduler offers a lowered fee they are just testing you. You need to come back and tell them that it just ain't gonna happen and keep pushing the fee upwards. Somewhere, sometime soon the Signing Services are going to run into that floor going in the opposite direction: happy landings to them! I am surprised that some enterprising notary hasn't come up with a script to use against the Signing Service. Hmmmmmmm, maybe they have and just aren't sharing it: ya think!

Reply by KS_king on 9/10/06 8:40pm
Msg #145019

90% of LSI orders I've done are from Countrywide and I know that CHL pays LSI $250 to remote close a HELOC. Excuse me, but like other businesses we have our overhead challenges too, such as increase in gas prices and cost of supplies etc. So why should we get the short end of the stick??

Reply by KS_king on 9/10/06 8:42pm
Msg #145020

Besides, it cost them less to edoc n/m

Reply by lonestar_tx on 9/10/06 9:06pm
Msg #145025

Lowball Fees

All offers to do closings this month were for $60 with E-docs and travel up to 20 miles away. I firmly stated my fee and said call me when you can't find someone else. Guess the $50 notaries are still out there.

Reply by KS_king on 9/10/06 9:14pm
Msg #145027

Re: Lowball Fees

Tons of them in my area. Unfortunately, I've had to take a second job due to this. I'm just sick and tired of having to "justify" my fees and I've been self-employed long enough to know that lowering my fees is not going to put more money in my bank.

Reply by Cheri Armentrout on 9/10/06 9:42pm
Msg #145032

LSI is one of my favs....they give me everything in my area. Tina Ireland knows what we do and what we are worth. I get at least $100. in my zip and over that. Circumstances pending, I just got a check in the mail for $225. for signing outside my area. They are ok in my book!

Reply by Sylvia_FL on 9/10/06 9:58pm
Msg #145034

Re: LSI, wants to lower even more our fees? - Charm

Tina Ireland (who is one of my fave people) is with LSI in PA. The e-mail came from the LSI in CA, and they don't usually pay as much as the LSI in PA.

Reply by KS_king on 9/10/06 11:26pm
Msg #145043

Re: LSI, wants to lower even more our fees? - Charm

Yeap, I get more money from LSI PA. I also like all the schedulers at LSI CA...but the schedulers have nothing to do with the fees. And I also have to say that they pay like clockwork. Nonetheless, getting less than $15 for edoc (which they are suggesting in their email) is ridiculous.

Reply by Melissa Peeke on 9/10/06 11:30pm
Msg #145044

Re: Guess (LSI) FNF's total revenue for 6 mos

According to their most recent 10-Q dated August 9, 2006, that figure was an astounding 4,999,268.00 -- yes, folks -- almost 5 million dollars!! And they want us to tighten our belts?!?!?!

I suggested that they just buy their supplies in bulk and print out 2 sets of docs for each loan to overnight to the SA, since costs are SO MUCH LESS than what we're charging.

Let's see, I haven't raised my edoc fee in 3 years, meanwhile paper has almost doubled, toner, drum, gas have all gone up as well. According to my math, I've already lowered my profit on each edoc that I accept.

Reply by Bob_Chicago on 9/11/06 8:19am
Msg #145060

Actually, it think that it is $5 Billion (with a B) N/M n/m

Reply by MelissaCT on 9/11/06 12:23pm
Msg #145153

Re: The report did state **in thousands** n/m

Reply by Bob_Chicago on 9/11/06 8:12am
Msg #145059

Some contrary thoughts

Yes I think that it is unfair for any consumer of NSA
services to try to make up for reduced volume and
increased thoughts on the backs of the NSAs.
I also think that it is unfair for companies to reduce of
abandon pension plans, cut insurance benefits for employees
and retirees, send jobs to foreign countries, etc, etc.
Nobody ever said that life if fair.
Instead of cursing the darkness, light a candle and deal with it as
best you can.
By stepping up to the HP 8000 series you can get a 20,000
page cartrige for about $200 and with the 9000 series it is a 30,000 page cartrige
for about $260 (both at CDW.com) (Based on a quick look, late last nignt)
Both machines are expensive, but you can lease them for less
than $100 /month and they spit out copies a mile a minute.
When you buy a high end printer , check with locat dealers.
You can frequently work out a good lease deal that included toner
and onsite maintenence at a very reasonable per page cost.
My printer is a profit center to my mind. I look forward to e-mail dox jobs,
and usually get my dox a day before singing. They use me to reduce their
printing ,etc and fedex/ups costs. OK with me so long as I make a profit.
"The times , they are a changin' "
Also with e-dox , it is easy to assign a job to someone in your network in an
emergency(with permission , of course). It is easier to forward an e-mail than to
drive over dox.
I am afraid that we are going to see more and more of this.
Good companies doing what ever they can to reduce costs in a new,
tough business enviornment. You can refuse to work for them, maintain
your pricing (and move way down on their call list) or deal with it as best you
can.
Am entity that not adapt to changing circumstances will perish.
Good luck. EOM is coming. Have a great signing week.

Reply by Ndwa on 9/11/06 8:35am
Msg #145062

Re: Some contrary thoughts-Bob

Have you thought about refilling your HP8000? I refilled my spare HP8100DN last month for only $35. That thing is a print monster as it already has 215,000 pages printed and still spitting crisp clean docs.

Reply by PA_Notary_II on 9/11/06 8:56am
Msg #145073

Re: Talk about profit !

I checked back on my work...last week I closed a 1st and 2nd for LSI...the settlement/closing fee on line 1101 was $500 for the first and $250 for the second. It's time for a major revolt!