Posted by ladyknc on 5/20/13 2:38pm
Msg #470614

Really sad in NC

So the SS and TC are standing firm on offering much lower fees. Apparently there is a move to change NC to an attorney state.

2 different companies called today with signings that each 60 to 65 miles ONE way. I asked the what they were authorized to pay that I generally ask for no less than $150. Reply was "I cannot authorize anything over $70.00".

Makes one wonder if these companies have gotten together and decided to super lowball NC notaries.
Any info on what is happening here in NC?

Reply by Teresa/FL on 5/20/13 2:48pm
Msg #470615

I would suggest they find someone closer

I don't know anyone, anywhere, who would drive 60 miles for the fee they are offering you.

I would charge at least $200 for a 60 mile drive.

Reply by MW/VA on 5/20/13 2:49pm
Msg #470616

That is sad. Can you imagine what they're going to have to

pay the attorneys--$200, $300, etc. It got shot down a couple of years ago because it was in the best interests of the consumers.

Reply by ladyknc on 5/20/13 2:53pm
Msg #470618

Re: That is sad. Can you imagine what they're going to have to

They had already tried the few notaries that were closer. BTW this company used to pay with no problem $150 and up for such distance. Anyone out there that believes in the power of prayer be in agreement with me that "this move to make NC notary state" does not succeed. Thanks everybody

Reply by kcg on 5/20/13 2:58pm
Msg #470621

Re: That is sad. Can you imagine what they're going to have to

I would try doing more than pray. Perhaps you can get as many notaries in NC as possible to contact their representatives and senators to block a bill that would change the status.

Reply by MW/VA on 5/20/13 2:59pm
Msg #470622

The NNA was involved in the last go-round a few years ago.

As much as I dislike them, it might not be a bad idea to find out if they're involved now.

Reply by Notarysigner on 5/20/13 3:01pm
Msg #470624

Re: The NNA was involved in the last go-round a few years ago.

I think they are, I've heard NC and SC are going to fall in line with Ga and Atty closing states.

Reply by MW/VA on 5/21/13 9:40am
Msg #470703

SC is already an attorney-only state. n/m

Reply by Notarysigner on 5/21/13 11:41am
Msg #470746

Thanks Marilyn! n/m

Reply by NVLSlady/VA on 5/20/13 3:01pm
Msg #470623

<<""I cannot authorize anything over $70.00">>

Then you will have to find a notary who can travel 35 mi round trip and who will let 1/3 the fee
be deposited in the fuel tank.

Reply by JanetK_CA on 5/20/13 3:11pm
Msg #470627

They're either delusional or irrational... If you split the difference between 60 and 65 miles, that puts round trip mileage at 125 miles. Multiply that by the $.56 per mile the IRS now allows as a deduction to cover transportation costs, and there's your $70. That leaves nothing to cover printing costs, let alone other expenses or any profit. Do they really expect notaries to provide them charity work? As someone else alluded to, they would certainly be paying much more to an attorney.

Very sad, indeed!

Reply by Linda_H/FL on 5/20/13 3:27pm
Msg #470630

Wonder what would happen if the company turned the

tables...if they told the borrowers "we have a notary all set to do your signing and she's expecting you at XX o'clock and she's at <<address>> - oh, and by the way, you'll have to stop at a Kinkos and print the package to take with you" - make the borrowers do the work and the traveling.

Watch how fast the lender loses a borrower, hence the title company loses an account.

Reply by GOLDGIRL/CA on 5/20/13 4:27pm
Msg #470635

Re: Wonder what would happen if the company turned the

I don't know what attorneys charge to do signings... but a SS owner once told me it was around $300, $350 ... at least $200. Plus, unlike NSAs, attorneys probably have enough sense (or whatever) not to undercut each other when it comes to fees. They may undercut everything else ... if you know what I mean .. but not their income.

Additionally, I can't image an attorney driving around the block for a signing. I'm sure they make signers come to their office, regardless the distance. On the other hand, if it's legal for attorneys to designate an NSA to do the work, they may pay an NSA to do the actual signing and do the traveling while they "oversee" from their office. Either way, everybody loses $$ ... except the attorney.

Reply by Linda_H/FL on 5/20/13 5:31pm
Msg #470648

The attorney I worked for in CT

Charged $400-$500 to do a closing - of course that was full representation. But, on top of that, he also charged for title review, title bringdown, recording service, collected additional to cover his FedEx fees and he also collected an additional fee for the title insurance that was issued. And no, he did NOT go to the signers, not during business hours and especially not after hours, on weekends, on Sundays or holidays.

Reply by snowflake/PA on 5/20/13 6:21pm
Msg #470651

Know it too well, Linda. My former boss charged less for

seller side of closing and more for purchases. But not by much.

Reply by 101livescan on 5/20/13 6:17pm
Msg #470650

Sounds like a total ripoff to me, on both sides.

I wonder what the Consumer Board of Affairs would have to say about these inflated fees.

On the signing service side: I think that the SSs are definitely lowballing notaries, and it definitely is not incentizing to work for low fee, slow pay, no pay SSs any more.

Honker down. I think that if this happened in my state, I'd be talking to the Consumer Protection guys to have them look at how borrowers are being exploited in NC!

Reply by SReis on 5/21/13 7:41am
Msg #470681

I am an atty & can attest that we do NOT get the fees you

think. Unless, like someone else mentioned, the atty is doing ALL of the title work & processing then they would be getting the same fee as a title co because the title co is cut out of the equation entirely. Believe it or not but many law firms in my area only pay $100 to attys to do the exact same job that you are doing. Meanwhile we are expected to pay over $3000 a yr in liability ins & we DO travel to the borrowers. I really hate it when ppl make assumptions esp about attys & their fees as I do this part time and probably earn just as much as a notary in another state but have much higher overhead costs and much greater liability.