Posted by LJ on 4/20/07 6:01pm
Msg #186191

Nationwide Document Service e-mail

Received an e-mail today. They are going to a new system. Sounded easy, just register. I started scrolling down the "agreement". There is a section on "fees". I read and re-read. They will charge the vendor (us) a Technology Transmission fee (Delivery fee) to Valuamerica for each order for services that such vendor recieves and accepts. Each vendor must have an active method of payment. All fees are non-refundable and are due from vendor regardless of when buyer pays vendor for services. I'm sure I am reading this correct. We have to pay them. Its says these fees are listed on Schedule A. I am not able to see the fees without "registering". Slick.
Here's the link: www.valuamerica.com Go to the lower right hand corner for "vendors".

Reply by MICarole on 4/20/07 6:14pm
Msg #186192

I got the same email, and if this cheap **s company thinks I going to pay anyone to receive their docs, then they are dumber than I thought.

Reply by Keys_Notary on 4/20/07 6:18pm
Msg #186193

Yep, that's what it says! We pay them to retrieve edocs from their website. I had another company solicit me for the same thing a few months back. I refused their wonderful offer, they said I couldn't close for them but, a few weeks later they called and emailed the docs to me. I got to the fees, I believe witness closing was $4.50. So if they don't sign they will still make money off of us? I'm not signing up.

Reply by Donna_CA on 4/20/07 6:20pm
Msg #186194

Re: Got the same e-mail....Not a chance in ....... n/m

Reply by C_in_OKC on 4/20/07 6:23pm
Msg #186195

I received the same e-mail. I'm almost afraid to discuss it since the e-mail said that if I did I *could* be liable under state and Federal privacy laws. I also followed the link and came to the same conclusion you did. They will charge a fee to transmit their documents to their closers. wow. I guess I should start charging a fee to take confirmations.

Reply by LJ on 4/20/07 6:35pm
Msg #186196

Unbelievable is all I can say.

Reply by christiSocal on 4/20/07 8:01pm
Msg #186204

This is when I love my DELETE button. ;) n/m

Reply by pan/nd on 4/20/07 9:37pm
Msg #186216

I've used this before...and I'll use it again.........

If their brains were dynamite, they wouldn't have enough to blow their nose.

Reply by Linda_H/FL on 4/20/07 10:03pm
Msg #186217

Re: I didn't receive the e-mail but judging from what I

just read I sure hope they have a HUGE travel budget - they're not gonna have a signing agent to turn to anywhere!!

Reply by Les_CO on 4/20/07 10:25pm
Msg #186219

Well....there are apparently thousands of notaries willing to work for SOX for nothing, why not pay someone to get the docs. What bid P. T. Barnum say?

Reply by PJM/MI on 4/21/07 7:06am
Msg #186240

They sent out a mass mailing a few months ago, too. Makes me wonder if they are in coohoots with the NNA.. another way to take our hard earned $.

Reply by JanetLA on 4/21/07 8:05am
Msg #186243

I agreed to it...

I agreed to the fees, but you can be certain that when they call me for a signing I will charge it right back to them in the fees that I quote. If they don't agree to fees, nothing lost. Have a great weekend

Reply by SueW/Tn on 4/21/07 8:27am
Msg #186245

Re: I agreed to it...

Is this the one that does the charge backs on your CC?

Reply by BobbiCT on 4/21/07 7:16am
Msg #186241

Lender pass-thru ...

This is a fee the LENDER should be paying; i.e., a service charge by a lender for the staff time to scan the documents and key in an Email address.

Technology Transmission (Delivery) Fee. Instead of the lender picking this up as a cost-of-doing business, the lender is passing it on to a sub-sub-sub-contractor. Guess the lender figured after all the other nickel-and-dime fees charged borrowers that to remain competitive it couldn't pass another $7 charge on to the borrower.

Next New Charge: Return Documentation Transportation Fee. The signing agent is charged in advance a $7 fee because the lender/title company has to pay one employee to open the package, read who in the office gets it, and mark the package for internal office delivery to that person. If the mailroom staff actually walks the package to the desk next to him/her, it's a $10 transportation fee. If the person receiving the package walks to the mailroom to pick it up (even if the person is picking up 20 packages at the same time), it's a $20 transportation fee PER PACKAGE; after all, that person receive a higher salary than the mailroom clerk.

It goes along with the old joke about the lawyer sitting on the plane on the way to a client and thinking about two other clients' work; he bills all three clients for the same time. Lawyers CANNOT get away with this - clients refused to pay. Lenders and bankers apparently can - if their vendors agree to play the game.

Reply by LJ on 4/21/07 12:02pm
Msg #186265

Re: Lender pass-thru ...

There is no way I am agreeing to this. It clearly says that the vendor must have an "active" method of payment. This means they have access to your account at all times. No telling what they can come up with to charge us for. For instance, shipping it back, missed signatures, notarizations. Even if we go back and correct a mistake, it can be charged back to us. The only thing positive that could come from this is they automatically deposit our fee into our account after the loan funds, sort of like Pay Pal. Doubt that they will ever do this though.

Reply by Kevin/Ct on 4/22/07 8:18am
Msg #186352

There have been a number of similar complaints among the abstractors about this system also. Apparently their clients are presenting it to them on a take it or leave it basis. As I understand it, they are expected to pay a fee for the "privilege" of receiving an order. They are also expected not to pass the expense along in the form of increased fees. The abstractors were also expected to keep their fees competitive in the market...even lowering them if necessary, which made the entire deal even less attractive. The abstractors were expected to accept the expense, and reduce their profit margins.

The abstractors also are refusing the imposition of this system. Fortunately the signing agents seem to have more clout with respect to resisting.