(sorry, I hit the wrong button before)
Anyway, how companies who charge $300-500 to title companies can expect to get a professional notary to take an assignment for $75.00. Here is the TRUE case - because its mine -
I am refinancing my mortgage to a fixed rate because when my ARM goes up in November it will be at least at the same amount as the fixed I was offered. So, I told them that I had a notary that I would like to handle the closing (she and I often partner - when one can't take an assignment we tell the scheduler to call the other one). I gave them her name and phone number. Now, this is a VA loan and we all know how big they are getting - they called her and then she called me and said, I can't do this - they offered me $75.00 and want 50 (yes, FIFTY) pages faxed back. I got the scheduler's name and called her and asked her how in the world can they offer someone $75.00 and with 50 pages faxed back. She said that what my person wanted was too much. (She asked for $125.00 - which I told her to say that BEFORE I knew they were going to ask for 50 pages to be faxed back). I told the scheduler well, you go ahead and see if you can get someone to do this for $75.00 and if you do, believe me they will be under deep observation when they come and if they make one mistake while I am signing, they are out of here. The Company was Mortgage Connect - I thought first that she said Mortgage Direct, but she corrected me. I just don't understand why these signing services - whose bills we actually pay, must make such a huge profit and expect the notary, (who without us, there wouldn't be any signing services because everyone would still have to go to a title company to get the loan closed), to not make a profit. Now, the real kicker is this, the signing service is OWNED by the title company. It is going to be interesting at the very least.
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