Posted by Roger Proctor Sr on 2/18/09 1:04pm
Msg #277944

It is beyond me

How am I suppose to compete with other signing agents when they are doing $40.00 loan modifications 40 miles from my location and doing re-fi's for less than $75.00 30 miles away? I just cannot comprehend what is going through their heads when they cut their fees this low not to mention what they are doing to the industry.......any feedback would be appreciated.

Reply by Claudine Osborne on 2/18/09 1:32pm
Msg #277956

I hear you Roger..there is at least one person from my area doing them for 65.00 with edocs..I was sent in to clean up a few of these too..and not for 65.00!!

Reply by oldhippie_IL on 2/18/09 1:33pm
Msg #277957

I am having the same problem. I just got a call for $65.00 e-docs 25 miles away. I quoted my fee, said they would get back to me. NOT! We are cutting our own throats. We all need to eat, but come on, what the heck is going on!

Reply by Tameika Fraser on 2/19/09 7:29am
Msg #278061

I just had this same thing happen to me. A title company wanted to charge me $90.00 for E-docs, I told them my fee and they got mad saying b/c I want more money they will never call me for another closing....LOL.

Reply by Jan Gordon on 2/19/09 10:18am
Msg #278083

I get the same thing!! Calls for 65.00 with edocs and my travel is not even considered!! I can't do 3 hour closings (including drive times) for that kind of money. I have been in business since 96 and didnt do them for that then!!

Reply by Lee/AR on 2/18/09 2:18pm
Msg #277972

Perhaps it is someone such as the person in message # 277945 above. They just don't know any better. At least that poster has enough sense to try to get some info.

Reply by Roger Proctor Sr on 2/18/09 2:40pm
Msg #277979

no it is somebody local (I live in a very rural area) and they know who they are I am just wishing that they have the nerve to respond.......but what am I saying like that is going to happen....right?

Reply by rengel/CA on 2/18/09 3:01pm
Msg #277988

You're preaching to the choir again Roger!!!!!!!!! n/m

Reply by cassiewi on 2/18/09 7:42pm
Msg #278026

I know what you mean. I got a call today from Richmond Title - $75 for edocs. I told her my min. and she said that due to the economic situation.....blah blah blah. I said due to my economic situation I cannot perform a closing for that fee. She said she would up it to $80. Lucky me. No thanks I told her. Hang in there Roger, I know it stinks and we all feel your pain.

It's been a while since I posted, I took a five month hiatus from closings, but things are slightly picking up in my area. Glad to see a lot of familiar names.

Reply by Linda_H/FL on 2/18/09 8:11pm
Msg #278031

Must be an epidemic...

I just got an e-mail for a signing Friday after 3:00 in a city approx 45 miles away - $75 including e-docs...

Reply by nolanotary on 2/18/09 9:58pm
Msg #278044

Service Link Title called me today and asked if I was interested in being added to their list...So I said as long as the standard fees are reasonable, I would consider. The girl said that their base fee was $45 for overnight docs & $20 additional for E-Docs. I laughed at her so hard I almost dropped my cell phone. After I gained my composure, I explained to her that she was wasting my time and I was not interested in working with them.

I worked with them a long time ago and really was not interested dealing with them now...especially now that their fees are so low. The said part about it is that they will find someone in my area that will accept those amounts. I say good for them, but better for me. I'd rather not work than work for nothing.

Reply by cdoty_IL on 2/19/09 9:15am
Msg #278074

Roger, I am also located in a very rural area with not a huge amount of competition...however, when I used to get these calls they would almost always call back and meet my fee or at least come close........now I am not getting calls back either. I will work with a $10-15 discount for some of my regular clients that pay quickly....but these $90 and less closings with edocs 25+ mile away???.....no thanks.

Reply by trnsa_IL on 2/19/09 11:00am
Msg #278086

Roger I did a search of your zip code and found 77 notaries

listed here on NotRot within a 50 mile radius of you including you and your wife. You are commissioned in both Illinois and Missouri and located on the state line.

You have a lot of "competition", but stick to your fees and those who are accepting low fees will soon learn they can't make it and will be out of business.

As someone on this board pointed out to me, it is good to remember that just because they don't call you back with your fee approval doesn't mean the next guy did it for less. Eventually they may get tired of calling and approve someone else's fee even if it was the same or higher than yours.

I too was offered a loan mod (not really a mod, just having a contract signed to hire a law firm, but they call it a mod) yesterday for 40 and an edoc refi for 60. I was able to neg my regular fee for each one, and no, it was not 75.

Stick with your business plan, be sure you know how much you need per hour to operate, and don't take it personally if you quote your fee and they hire someone else. You are better off working smarter than just working harder or cheaper.

Good luck to you and your wife.

Tonya

Reply by Dennis D Broadbooks on 2/19/09 11:35am
Msg #278089

Roger...

...are you still affiliated with Midwest Mortgage Services, LLC in Clayton, MO?

Reply by Lori Kreppert on 2/19/09 1:31pm
Msg #278102

Re: Roger...

I have done three refis since I got my commission and was wondering how much you consider to be reasonable. I am in the North St. Louis, MO area.

Reply by Dennis D Broadbooks on 2/19/09 1:35pm
Msg #278103

Lori...

...please either send me a PM or an e-mail. Look under my NotRot profile for my e-mail.