Posted by Ernest__CT on 7/26/11 11:37pm
Msg #391477

NSC - Nations Signature Closers, Inc.

Has anybody fallen for this nonsense?

"Dear Valued Partner, *FINAL NOTICE* If you are in reciept of this email, we have not heard from you in regards to the 2011 Nations Signature Closers Administration Fee. [...] If a repsonse is not recieved you will be removed from Active Status in our Database."

Never, EVER pay a company to work for them. Period.

"We understand that the last few months have been challenging for our industry." Gee, ya think?! For whom has it been the most "challenging"?r THE NOTARIES. We're still being underpaid, paid late, or not paid at all.

"This fee is an annual fee that is required to retain "active" status in the NSC database. There are two payment options available for your convenience. One, simply mail in the fee of $25.00 to NSC. Two, NSC will automatically deduct the fee of $25.00 from your next closing once we have received confirmation from you to do so. Payments must be received, or automatic deduction confirmed by July 1st." Hmmm. The email was received on July 26th. Looks like not enough "Valued Partner"s were crazy enough to pay NSC to receive work.

Nations Signature Closers? Just Say "NO."

Reply by Lee/AR on 7/27/11 1:54am
Msg #391495

No e-mail nor even a mention of this as recent as 7/18

when they called about a signing. We didn't get together on fee, tho.
Still agree....just say NO!

Reply by Ernest__CT on 7/27/11 1:58am
Msg #391498

One of the reasons to just say no ...

... is their fees. A second reason is the length of time that they take to pay.

Reply by jojo_MN on 7/27/11 7:49am
Msg #391509

Re: NSC - Nations Signature Closers, Inc. - My reply

This was my reply to this latest demand letter:

I have replied in the past. Why should we, as notaries, have to pay your costs of doing business? If we had to pay $25 to every company with which we do business, we would not have any income. WE are the ones that incur the rising costs of printing and the gas to go to our closing appointments. In addition, we are paying a large portion of our fees to pay taxes. Our overhead costs for utilities and every other facet of our business is continually rising; however, our fees are being reduced.

I totally appreciate the business I have received from you in the past, and will be available to help you out in the future; however, I will not agree to have $25 deducted from my fee for my closings.

Thank you and have a nice day!

Reply by Linda_H/FL on 7/27/11 7:58am
Msg #391510

How about this reply?

"Yes, the last few months have been extremely challenging. With the ever increasing cost of gas and consumables needed to complete signings for your clients I, too, am left with no choice but to impose a $25 annual fee to cover the costs of time and efforts involved in accommodating your company's signings and subsequent collection efforts.

So, I guess we're even"..

Reply by Linda_H/FL on 7/27/11 7:59am
Msg #391512

BTW, I got the e-mail too...<<delete>> n/m

Reply by jojo_MN on 7/27/11 7:59am
Msg #391513

love it n/m

Reply by Notarysigner on 7/27/11 8:15am
Msg #391518

Re: How about this reply?

My reply, " WHAT? You must be out of your mind?"

Reply by jba/fl on 7/27/11 8:25am
Msg #391520

Why deleting or no response is best...

It is about burning bridges.
What if you respond? you get deleted from their system.
If no response? then someday if you are called as you are still in their system, you can name your price, plus $25 in anticipation of their little charge. They may just pay it and forget the charge.
If you respond: you will not get that offhand chance.

Leave those bridges alone.

Reply by Linda_H/FL on 7/27/11 8:36am
Msg #391521

Supposedly, if I read their e-mail correctly

if you don't agree with the $25 fee you're not going to get called anyway - you'll be deleted from their database..they're not leaving any bridges up for us to worry about burning - you either pay or don't work for them...period

At least that's the way I read the e-mail....ALL the e-mails they sent

Reply by jba/fl on 7/27/11 8:53am
Msg #391523

I deleted without really reading. n/m

Reply by Notarysigner on 7/27/11 9:14am
Msg #391529

WWPD? n/m

Reply by Linda_H/FL on 7/27/11 10:31am
Msg #391551

IMO this isn't about what he'd do

If he held true to his word to me he always told me never pay to be listed with a company and as far as listing services, there are far too many free opportunities out there to even consider paying for it.

This is more about individual business decisions - which is what they all are - what each one of us considers economically feasible for our own business. I, for one, don't get enough business from NSC to even consider paying the fee - if I were in others' shoes getting hundreds or thousands of dollars worth of business per year from them each year I'd probably agree with them and feel the $25 is a good investment.

Reply by Notarysigner on 7/27/11 10:38am
Msg #391555

he always told me never pay to be listed

Then that's the answer!

Reply by Crossroads Accounting Inc. on 7/27/11 8:01am
Msg #391514

I have received many emails from NSC and ignored them all. Why should anyone pay for a service? Doesn't make sense. Hope no one got ripped off.

Reply by doofus on 7/27/11 9:13am
Msg #391528

I aagree that paying a fee on the promise of future business is a mistake. I have received income from nsc between 4K and 5 K each year since 2008. They pay faster than almost anyone, ususally 2 weeks. I cannot bring myself to give up a few thou over a $25 fee, as silly as is the prmise of the fee. That is just me.

Reply by jojo_MN on 7/27/11 9:17am
Msg #391530

I have only done one for them so far this year and six last year. If we start paying them the $25, it will surely give other signing services the same idea. Kind of like the XYZ and their bgc hype.

Reply by KSMONotary on 7/27/11 10:03am
Msg #391542

So you are saying that you wont pay a $25 annual fee to continue making 4-5k a year from this company?

Good call...Doofus

Reply by CopperheadVA on 7/27/11 11:04am
Msg #391559

The way I read it, doofus said the exact opposite and that he/she would be paying the fee:

<< I cannot bring myself to give up a few thou over a $25 fee >>

Reply by doofus on 7/27/11 11:37am
Msg #391566

apparently I was not clear. I will pay any source, $25 a year, if they have been giving me 4 to 6K a year. I can get over the silliness of the reason for the fee

Reply by LynnNC on 7/27/11 9:23am
Msg #391532

It was my understanding that paying a one-time fee of $25 will keep a notary in their database. It is worth $25 to me with the hope of future business. IMO, the future of this business doesn't look promising with the expectation of higher interest rates, and if I can get some business by paying only $25 to a company with whom I have had a good relationship, then it is worth it.

Reply by Linda_H/FL on 7/27/11 9:24am
Msg #391533

It's an annual fee Lynn...not a one-time fee n/m

Reply by LynnNC on 7/27/11 10:23am
Msg #391548

Getting business from NSC is worth $25 a year to me... n/m

Reply by jojo_MN on 7/27/11 9:44am
Msg #391537

Lynn, they make money off every closing you complete for them. Most signing services make 25-100% of every closing you complete. Example: They charge the title company $255 (not all, just many that I have seen the invoices) and they pay you $40-$125. I think that is more than enough out of your pockets. JMHO

Reply by KSMONotary on 7/27/11 10:00am
Msg #391541

Lynn,

I agree 100%. I have tried to show just cause in prior posts about this company.

It is really very simple. If you have a good relationship with this company and they provide you with work, why would you not pay a fee to be apart of their network?

The question is how mush revenue is enough to justify paying $25 a year. For me, if I make over $500 a year, which in this case I make at least 10x that amount from this company, $25 is well worth it.

However, if you don’t have a great relationship with this company, or they don’t provide you with an adequate amount of work, then of course, don’t pay it.

But to tell other notaries they are foolish for paying it is...foolish. It’s a business expense plain and simple, it is also a deduction.

Again, I guess I will foolishly pay this fee, and foolishly make money all year long from NSC.

Reply by Lia Williams on 7/27/11 12:49pm
Msg #391591

KSMONotary,
Clearly, you are right and sensible for paying $25.00! Id' do the same!

I posted negative comments about the $25.00 charge before I read your post. And yes, It was from the viewpoint myself and many have who never get enough business from any one signing company to justify $25.00 let alone make $5000.00 a year from one. In my experience, so many signing companies have cut fees so drastically that the idea of any company wanting to charge us to be on a list of notaries is like salt in a wound or another kick in the gut. And of course there's the fear that this trend will spread to other companies. That's going to be a problem for any notary that gets limited signings from many companies to make up a portion of there gross income. One $25.00 fee to one company for $5000... worth it. Having to spend $25.00 to 15 signing companies each in the hopes of getting a closing here and there for a decent amount as closing volumes dwindle in your area more and more..... frustrating.

Reply by NJDiva on 7/27/11 1:30pm
Msg #391607

lol

"But to tell other notaries they are foolish for paying it is...foolish."

It IS a foolish precedent to start and allow to be introduced into our business. I'm curious to know how much "competition" is in the areas of those that feel it necessary to pay it. Are people in those areas so desperate that they feel they HAVE to pay it in order to get business?

What do "you" (in the 3rd person, not singling out any one person) think SL would do if we COLLECTIVELY refused to pay it? I'm also curious to know what kind of fees this company is paying that it makes it worthwhile to pay THEM to give you work? (another perplexed look)

How about you can't do ALL the closings they have available? You are only one person. What happens to the overflow? Chances are that person isn't paying the fee. Sounds like naivete, foolishness or just plain being a SUCKER to me (of course I mean that as the whole CONCEPT not directed toward any one person... )

IMO it's more about the principal of the matter. I think we all have a responsibility to stay united so that this industry does not disintegrate to the point that it actually costs more to do closings than we make.

We are all responsible for what happens in this industry. When people start degrading the system by allowing this expectation that WE should pay to work for THEM, then we may want to consider stepping back and finding something that we CAN make money at. As it is, those that are participating need to take responsibility for when it DOES happen.

By that time, you'll have run yourself right out of business and the repercussions will be irreparable.

So don't get upset with those of us that share our disdain because we know the damage that will be done in the future just so you can attain instant advantages.

It's just bad business all the way around (of course, that's my very humble opinion!!) tee hee

Reply by Lia Williams on 7/27/11 10:30am
Msg #391550

Unbelievable! These companies are horrible. I've always wondered how these companies get settlement companies to think they are better off using them to find a qualified closer themselves by typing in notaryrotary.com. They'll get a better notary at a better price if they do it themselves. Every one of those companies that have called me have said "I got your name from notary rotary..." That's all they do. And, if there's no "notary provider service company" it's one less cook in the kitchen during the closing process to muck things up and bog us down with unnecessary and overlapping pre and post closing tasks.

Reply by Jack/AL on 7/27/11 10:33am
Msg #391553

I don't pay it, but still get calls and do signings for NSC.

Reply by KSMONotary on 7/27/11 1:57pm
Msg #391611

You clearly have no experience in Title if you can’t see the benefits of paying an organization to manage your vendors as appose to trying to facilitate that in house and with your own payroll.

Do you really think the tasks associated to assigning a notary to a closing cease after it is scheduled?

Reply by NJDiva on 7/27/11 4:01pm
Msg #391635

Experience in Title?

"You clearly have no experience in Title if you can’t see the benefits of paying an organization to manage your vendors as appose to trying to facilitate that in house and with your own payroll."

If you have experience in Title, then you clearly know what is paid and what we should be paid in comparison to what we ARE paid and the amount they are ALREADY making. And if that's the case, then why are you so supportive of paying to be in their data base? lmao

It just seems so contradictory to me. I really admire you for sharing your thoughts, considering you know you'll probably get slammed,(lol) but quite honestly I'm struggling with finding any common sense in it. tsk tsk tsk

It just s*%^# what that mentality is going to ultimately bring upon us AS A WHOLE.

Reply by KSMONotary on 7/27/11 4:23pm
Msg #391645

Re: Experience in Title?

Its because I come from Title that I know how much is actually going to the SS and how much of a cut the TC takes.

Someone posted an average of $250 is what the SS that he works for charges Title. I can promise you, National SS, i.e. the ones that can provide the most volume, are not charging that. They are small margin, high volume based companies.

Reply by NJDiva on 7/27/11 5:01pm
Msg #391658

So how about this????

If 1,000 notaries pay them $25, they're making $25,000! That's quite the frkn racket! Don't try to justify! It's BS!!!!

How about 5,000????? PAAAAALEEEEEZ!

Reply by jojo_MN on 7/27/11 6:39pm
Msg #391676

Re: Experience in Title?

Many signing services have their fees listed on the HUD and they show $200 or more. One in particular talked me down $65 for an overnight package in town stating that they were only getting paid $70. They accidentally emailed their bill for the closing. It was for $150. Many times time when documents are sent to the borrower, there will be an invoice in the package for the signing service for $200-300. I'm not saying ALL signing services charge that much, but many of them do.

I work for quite a few signing services pay my fee without trying to talk me down, but the majority of them do.

Reply by Lee/AR on 7/27/11 12:32pm
Msg #391588

Camel's nose into the tent

While I respect the business decisions of others, paying to--maybe--receive business doesn't seem like a good decision to me for several reasons: 1. What guarantee do you get for your $25/yr.? Or will they move on if/when they find a less expensive person? (We all know the answer to that.) 2. What prevents them from sucking you along...now we need 'our' background check---send $$. 3. Now we need to 'certify' you--send $$. Seems a national organization does real well with that. Just think about how one-sided this is before you buy into it.