Posted by Calnotary on 6/5/08 9:39am
Msg #250083

Esignings Survey:

Recently I been receiving emails from SS asking me if I have the proper equip. to do this type of signings.

But they are not offering any more for this type of work. "Fees will be same as an edoc signing"

I have red here that it involves more time, you have to have a backup copy just in case there is no internet or cell reception. Wireless dsl costs in my area 60.00 per month thru Verizon. With 60 dollars I can print 25 loans and I will spending those 60.00 dollars ONLY if I have 25 loans to print in that month.

With Esigning I will spend 60.00 dollars and probably I will get one or two loans or maybe none.

What would it be a decent fee for Esigning? I think it has to be higher than an edoc signing fee!

Reply by jba/fl on 6/5/08 9:47am
Msg #250088

Since I don't care for the company that offered me this 'opportunity' I quoted $300 w/i 25 mi., additional mileage may apply.

From what I have read (same as you I am sure) it just isn't worth it to me at this time. I also have added in porter fee for all the lugging around of equip. that must be done. But, let me qualify all these statements: I have just semi-retired and don't have the same feelings as others, who are sure to blast me either online or in their mind. I am just in another place in my life right now, and there are plenty of things to do to make money that don't involve spending for iffy return.

Aside to Brenda/TX: you are so right about reestablishing priorities after such a momentous happening. Still doing daily revisions - getting there!

Reply by Vince/KS on 6/5/08 10:40am
Msg #250101

Have held firm on needing more from the TC's that have contacted me. So far, none have refused the 10% surcharge. But, if the pace stays the same as it has been on these, even the 10% does not cover the additional cost. Still need to print almost 75% of the package here. Plus the add-on expense.

I'd be weary of those that say that you can count on the borrowers' equipement. I did a signing last night that was a redo from a different TC. The borrower said they wanted him to use his computer. That was fine with him. They also waited until the time of the signing to see if his computer would connect. It did. But, his security settings would not allow a download and he refused to change his settings. So, his loan (through a broker) was moved to a different TC. The borrower is now happy - don't know about the first notary.

Reply by MW/VA on 6/5/08 11:10am
Msg #250113

There has been a lot of discussion on this on other boards. I almost panicked when I felt I wasn't up to speed with changes in the industry. That was a mistake. Amtrust has developed e-sign, and are trying to get tc's & notaries on board. From what I've heard they plan to pay less for these (are offering like $85). They require a laptop & aircard (why not, it's not at their expense). From our standpoint that is a considerable extra expense. I've been doing a lot of research, and have found that I can get a Blackberry from Sprint at $49.95/mo for data/email only that will serve as the wireless modem. That is a better deal than an aircard at $60/mo. These are all pretty crucial business decisions--since it involves considerably more expense in a market that is wanting to pay less or try to eliminate the notary signer altogether. I'm trying to be very cautious, since of course there are always two year contracts involved in these services.

Reply by jojo_MN on 6/5/08 4:52pm
Msg #250176

Also Sprint is offering a new program. I'm not sure if it is everywhere in the country or not, but worth checking into. It is called the "Everything Plan". $89/month for unlimited voicemail, unlimited internet (broadband speed in many parts of the country and "faster than dialup" in the rest) and unlimited text messaging. You can tether the phones to your laptop just like the blackberry.

I used to have an aircard, but didn't receive service in most areas of the country where I live, so decided the $65/month for the service wasn't worth it. I just switched over to Sprint this week. So far, I'm happy.

As far as the esignings go, you still do have to print the borrowers copies of ALL documents including the e-signed ones. There were still over 80 pages that I had to have them sign.

Reply by Vince/KS on 6/6/08 7:15am
Msg #250203

Have not been requested to print all pages of borrower documents. Only the wet signature ones and RTC. The others were saved to hard drive on borrower computer or disc and given to borrower. So, TC's must be different on this procedure.

Reply by Lee/AR on 6/5/08 12:54pm
Msg #250145

Agreed. For all the expense (&, frankly, inconvenience to me), fees would have to be MUCH higher for me to even consider doing these. Even then, I'd still say no due to cost of equipment, continuing monthly expense & lack of volume, practically non-existant wireless data service and additional time needed for these. Sometimes, it seems to me that what others view as 'progress', really isn't. This strikes me as being tomorrow's 8-track tape.