Posted by BrendaTx on 9/9/06 2:37pm
Msg #144762

Received a call from Bancserv

According to our conversation, they have recently sent out letters and applications to increase the number of Tx and Ca notaries in their database.

I did not stay on the phone long with them. I told them my base fee and asked if they would consider it..if so, I would complete their application and contract.

"No," they said. "We only pay $50."

"I only accept $xxx.xx."

The conversation was ended politely and respectfully.

I have worked for Bancserv in the past. I did not do a job for $50...never have.

They pay fast, fast, fast...but I won't be signing a contract to put myself into a database at their $50 fee. I will charge Bancserv the same amount I charge a title company if it calls.

Reply by Charles_Ca on 9/9/06 2:48pm
Msg #144766

Interesting Brenda, I could never understand why some notaries charged different fees based on who the contracting entity was. My costs and earnings are what is at stake and It doesn't cost me any more to service a TC than it does an SS so I don't charge the TC any more and I don't charge the SS any less. In fact most SS cost me more effort than my TCs do so by rights I should be charging more for the SS.

Reply by BrendaTx on 9/9/06 3:09pm
Msg #144772

Re: Received a call/// and, be reasonble

Good! If anything, a title company takes less work than some SSs.

I don't get it either, except that an SS should receive a reasonable referral fee for the work, but not the high extraction that most try to take to broker the notary's fees.

When I know that the standard tc to ss/tc to sa fee is $150+, I'd be willing to allow a 20% cut to get the business, but not 50% plus. Since I quickly learned this was the case, I did all I could to learn to work around it. If there had been a reasonable referral fee, I would have been placid about continuing to work for less.

However, understand that I am reasonable and understanding of the plight of the "good" SS.

Last Saturday I was getting a $175 fee for a job via a signing service. I went, did the job and in the final analysis, about half of the documents were missing. I had all disclosures and no loan docs. Didn't find that strange until afterwards. All the disclosures were being signed as of that day so I thought it was a disclosure job. (BTW, disclosures were discussed ahead of time...not loan docs.)

OH NO. The loan documents were missing. I felt I should have called, that is was partially my fault for "assuming," but this SS said, "No, not your fault."

Well, I could not go do the re-sign because of company being here. (Panic at SS...this is out in the country.) I gave them the name of a gal in my network, she went and charged them $225.

Okay...when I get the word that she was definitely called to go complete the job, and that her fee was met, I told them since they had used my network, to just forget paying me because that would be $400 out of their pocket for a job not done right the first time.

Members of my network guarantee our work and do not want ANY tarnishing of our reputation. In other words, we are professionals, not penny-ante jack-@sses. Sometimes foregoing a fee is worth it to get business again from reasonable companies like this one.

They were pleasantly surprised, extremely grateful and insisted on sending me a check for more than twice of what it would cost to cover my gas.

Reply by Charles_Ca on 9/9/06 3:13pm
Msg #144774

Yep, being responsible has its rewards :-) n/m

Reply by BrendaTx on 9/9/06 3:29pm
Msg #144781

Re: Yep, being responsible has its rewards :-)

I agree, Charles.

In this case, I did not think that I'd get another single job from them, b/c this was on a Ca. property. It just seemed the right thing to do.

I explained that to the ss after I agreed to forego the fee. He said, "Oh, but you are wrong. I am going to be using your network b/c we are getting a contract with lots of work in Texas."

Nice surprise!

The moral of the story is that if you run this like a business, and charge enough for your work, you will not find yourself fretting over even a $175 fee when the "most" right thing to do is to let it go.

For those considering networks, do prepare yourself to take one for the team every now and then.

Reply by Jason on 9/9/06 7:35pm
Msg #144849

Charles nailed it too

"In fact most SS cost me more effort than my TCs do so by rights I should be charging more for the SS."

Super true, Charles.

I want direct communcatn w/ TCs. Having to go thru SS is a pain.

Reply by NCLisa on 9/9/06 3:41pm
Msg #144787

I only do modifications of DT's for them, and that pays $50. 4 documents, and about 5 minutes of my time. Other than that, I've done one closing for them, and they met my fee of $xxx.xx, but that was only once.

Reply by BrendaTx on 9/9/06 3:53pm
Msg #144794

**I only do modifications of DT's for them, and that pays $50. 4 documents, and about 5 minutes of my time. Other than that, I've done one closing for them, and they met my fee of $xxx.xx, but that was only once.**

Lisa, I am glad you brought that up.

I have never had one of these from them. $50 seems fair for such. Texas does not get that kind of work often since attorneys are required to produce all the loan docs, or at least be responsible for the content.

What I continue to run into is the misconception that stacks of loan documents from all states are the same size.

In Texas the stacks are larger, more time consuming, etc. Never, ever less than 15 notarizations in 90% of them.

On NR, I hear about the AQ docs, the CW docs, etc. I now understand that many $50-$75 signings in other states are lots smaller.

Take what you know about AQ/CW and add 30 pages of title docs onto the stack and that is the MOST COMMON size, type, etc. of Texas loan signings. Thus, my dismay at the small fees being offered.

Reply by Ndwa on 9/9/06 4:22pm
Msg #144802

I do work with them and they only call on an emergency basis as I never will sign their contract even after numerous requests. They can justifiy the cost on special circumstances, that's where I come in play.

Reply by BrendaTx on 9/9/06 5:19pm
Msg #144811

The odd thing is that I think I completed a contract with them a long time ago when I was first starting out.

At that time, they paid $60.

It seems like they, along with a few others, periodically ask for a new contract. I wonder what they do with previous contract.

Or, if when we do not agree to $60 they consider that a cancellation of our contract and we go out of their system only to be called on an "as needed" emergency basis.

Reply by Lee/AR on 9/9/06 6:51pm
Msg #144834

Exactly right, Brenda.

Reply by Jason on 9/9/06 7:34pm
Msg #144848

You nailed it

"I will charge Bancserv the same amount I charge a title company"

EXACTLY!

Good on you.