Posted by loandocs on 5/6/13 9:34pm
Msg #468983

Fees for Loan Signings

Based on the low-ball types, i.e., Mortgage Connect and Bancserv, perhaps we Signing Agents should seriously consider forming a professional union. We work hard for our money, i.e., printing costs, gasoline, putting up with children, dogs and cats and Borrowers, gas for our cars, supplies (in particular toner for our printers), and lenders who want fax backs. We would be able to get higher fees if we formed a union. What do you think?

Reply by JimAZ on 5/6/13 10:12pm
Msg #468989

We would still have the low ball notaries that don't know they are losing money until their credit cards are maxed out.

Reply by dawn/IL on 5/6/13 10:44pm
Msg #468990

While I like the idea of being "Union" for better wages, it is not gonna happen. First of all we are governed by individual states, secondly, lenders will go back to the days before using us NSA's and put us all completely out of business.

What needs to happen is we need to fight in our home states for notary signing agents to be recognized as a "Profession" or "business" that charges for what we do (Time & Travel)and what expenses we incur as a result(Paper, toner, supplies, fuel, etc.). Most States think we stamp and piece of paper and that is it. Since most mortgage related services (Real Estate agents, appraisers, surveyors, Brokers, loan officers, title companies, etc) are governed by each states department of financial rules and regulations and are protected from non-payment because If payment is not made and complaints are filed there could be fines on top of bond forfeiture and licenses being revoked. Fees for services are rather standard and no low balling occurs because it is all a competitive business. A Notary vs. a Notary Signing Agent is like a Receptionist vs. Legal Secretary. There is alot more involved in being a NSA than being general notary. The two have to be separated and Recognized for what it is.

Just my two cents :-)

Reply by Luckydog on 5/7/13 6:43am
Msg #468998

Bad idea, agree with Dawn. Not sure what is going on with some of you, I have not been hit with lower fees and still get paid the same as usual If you don't like what new companies offer you, simple, don't work for them, and stick with your tried and true.
I am not a union person, and in my opinion, most have gotten way out of control driving the cost of products up here in the USA and forcing companies to open their factories elsewhere. Cannot imagine being a notary and paying monthly dues, for what? We are independent contractors, and pretty much a one man show.

Reply by desktopfull on 5/7/13 2:26pm
Msg #469041

So you want to bring the government in to set fees? Have you completely lost your mind? Do you even have a clue as to what additional fees and licensing costs would be incurred for setting up a new regulatory dept. with the state?

Your in business for yourself, set your own fees and find companies that will pay what you ask for your services. That's what being self-employed is all about. If you want security and someone to control what you are paid then go find a job and become an employee for someone elses company.

Reply by MW/VA on 5/7/13 7:11am
Msg #469004

This was discussed recently, and someone pointed out that

we're independent contractors as well as public officials, and can't form a union. I wouldn't want to. I can tell you what happened to all the union jobs in PA--they are now overseas.

Reply by Claudine Osborne on 5/7/13 7:34am
Msg #469006

Re: This was discussed recently, and someone pointed out that

No Unions..I am an independent contractor I work for myself..I left a corporate job because of all the BS..Dont want to get involved in a union. Sadly many NSAs do not know about the higher fees they can get. They may not know about Not Rot etc. where they can info. We should just keep telling the low ballers no..

I got called from one of my regulars the other day for a closing at my regular fee that they were paying and they said we will see if we can get that approved? No call back! Someone is taking these lower fees and we all have to stand our ground. Eventually the low ballers will get tired of hiring the cheaper NSAs and the mistakes they make and come around..One can only hope!

Reply by John E. Rogers on 5/7/13 4:43pm
Msg #469056

Re: This was discussed recently, and someone pointed out that

Does anyone really believe that so many jobs would NOT have gone overseas if no unions/associations existed in the US? Unionism is certainly one variable in the "outsourcing" equation, but there are many other factors involved such as greed (I know, a bit subjective but investors want their high returns...regardless!). Any bureaucratic organization has problems as they are run by people. If members would participate, many problems could be avoided. I do not necessarily promote a union, but an association might indeed be very helpful. jer/oh

Reply by John E. Rogers on 5/7/13 4:32pm
Msg #469054

I suggested this some time ago; could help with networking also as well as providing national common ground training and info...even political pressure...? If we stick together re: fees and such, SS et al would either search out inexperienced NSA's or go broke (instead of us)! Many schedulers seem to think all signings can be completed in 30 mins or less, ha! For 160 docs of which 90% need to be dated, signed, filled in and so forth. A national organization could help educate these people, at least those who understand english. Food for thought! jer/oh