Posted by Cheryl Elliott on 10/20/03 11:24am
Msg #137

NNA Trying to Fix Minimum Notary Fees

NSA Today came out with its winter newsletter, discussing a "groundbreaking" move designed to inspire uniformity and curtail inequity in the burgeoning NSA industry. The schedule will reduce financial exploitation of SA's and provide fair fee guidelines for lenders and signing services in a fast-growing but still formative new career field, say NNA officials. "For too long, highly skilled and trained Notaries have been paid well below what they are worth, simply because there has been no base fee," said NNA Prez Milt Valera. The schedule is the produce of much research and discussion "We found that much of what has been labeled as exploitation of sgining agents is caused less by the conscious intent of lenders and signing services than it is by the absence of any industry guidelines. NNA's fee guidelines will fill that void." Hmmm.

The good news, "adherence to the new minimum fee schedule is not a legal requirement, but a strong recommendation based on fair treatment of all parties. Self-regulation in the industry is preferred over the overwhelming, difficult process of enacting minimum fee laws in all states. "

Certified SAs will earn more than Uncertified SAs.

What would we do without the NNA to look out for us!!

Reply by Anonymous on 10/21/03 12:14am
Msg #141

Keep in mind that the NNA has an Escrow Officer on their Board of Directors who WILL NOT PAY notaries if a deal does not close. Think twice about "praising Milt"...they are misguided in many ways. Milt thinks business will remain high even though interest rates are rising...I would love to know his thought process.

Reply by Harry [NR] on 10/21/03 2:40am
Msg #142

Cheryl -

I hope the last line of your message is sarcasm. :-) Beyond their self-serving, transparent efforts to peddle their certification and sell more memberships vis-a-vis the rates announcement along with their get-rich-quick ads, there are two additional points for which they should be ashamed:

1) Product Pricing. Do you know what the actual cost of their Official Journal of Notarial Acts is? Based on their purchasing volume and the quotes I have in-hand for our forthcoming Journal, it's probably UNDER $3.00. Do you know what you would pay, including shipping, if you purchased their journal at retail or even member pricing? If that's not bad enough, how about the "Signing Agent" incarnation? Wow. Then there's the matter of stamps, another key notary tool. The Ultimarks we sell in our store are comparable to their premium stamp. Once shipping is taken into account, our stamps are about 50% LESS, and we still make a small amount of money on them.

2) People as Billboards. Who in the world wants the NNA logo plastered all over their gear, their person, etc.? Why can't a stamp just be a stamp, a bag a bag or a journal a journal? Are notaries getting paid to use this stuff? Are you kidding? No, they're the ones paying - paying for the extra screen printing and foil stamping ad nauseum - paying a premium for the right to be a walking billboard. Figure that one out.

At the root of all of this, certainly, is greed and commercialism. What may have started as a noble institution - "non-profit," even - seems now to be a bloated, cash-craving 800 pound gorilla, trying to rationalize its bad behavior under the pretext of an unnatural symbiosis between itself and the notary signing agents it claims to be fighting for.

At the end of the day, I can tell you who the losers will be - this is nothing short of a pyramid scheme (in my opinion, of course).

Harry

Reply by Cheryl Elliott on 10/21/03 8:52am
Msg #143

Re: Re: NNA Trying to Fix Minimum Notary Fees

Sarcasm of course. I'm over the top with the NNA/NSA. Yesterday I received an email from a new notary who asked if I would mentor her for signing agent biz IN MY OWN BACKYARD. IS SHE CRAZY? Could I possibly be that lame to populate my backyard with competition in a slowing biz environment. I had been signing 10 a day, now I'm signing 2-3 loans daily. It's scary. I do not shop at the NNA that's for sure.

Thanks for your comments. Spread the word out there. But there are other schools popping up on the scene also giviing notary instruction, and selling their own brands too. Telling people they can make $50 to $300 a signing....my sister recently took the exam. I wish I'd been in the class, I would have educated the instructor a little. The hey day of loan signing is coming to a screeching halt, not enough biz out there for all the new "talent" being churned out of NNA and other competitive notary and loan signing schools.

Reply by eMobileNotary on 10/21/03 10:51pm
Msg #152

Re: Re: Re: NNA Trying to Fix Minimum Notary Fees

You go girl!! Cheryl and Harry you could not be more on the mark with your comments. My partner and I have owned eMobileNotary for 11 years and have watched the NNA grow into a self-appointed, governing body that dispenses incorrect advise.

We find it amazing that notaries are suckered into becoming "National Signing Agents"...what a complete farce that test is. In fact I have made complaints to the NNA re: some of their so-called NSA's. They won't act on complaints because that hurts their revenue stream. Mistakes are constantly made and responsibility is nowhere to be found. Cheryl we use notary's like you, who have a history of professionalism and quality in their work.

Harry, call Tom or I. We'd love to talk to you!
Renee

Reply by Stephanie Santiago on 12/15/03 4:27pm
Msg #432

Mr. Valera cares about all Notaries and will do anything to uphold the professionalism of the industry; he will also do what it takes to see that Notaries are recognized for their important role by being compensated fairly.

In my opoinion, the NNA & NSA are great organizations and have assisted me in becoming a confident, top-notch Certified Signing Agent; with the ability to handle most issues during signings.

Reply by Jim Coffey on 12/16/03 2:15pm
Msg #447

I support NNA in this effort, as our company made an effort to ask all FL Notaries to get on board and realize they are certainly worth much more than $45-$50 per signing.

We all have the right to accept or deny signings, and the message should get to those low-ball paying companies that have no idea what it is like on the other side of the table.

Reply by Morona Madsen on 12/22/03 11:08pm
Msg #472

I was trying to get some of the companies I work for to give me better fees. They promptly turned my former territory over to someone else. I didn't think being paid 75.00 for driving 283 miles one way was too much to ask., but apparently it is. By the way, do you know that the title companies charge the lenders 300.00 for notary services? Then they balk at paying us enough to make a trip worthwhile.

Reply by d. williams on 12/23/03 3:29pm
Msg #476

why in the world would you drive 283 miles one way for any amount? as a notary, you need to make you territory smaller and specialize in it for a reasonable (75.00) fee. they probably found other notaries in your area and will now use you in remote places because you will be silly enough to go there. sometimes you have to say NO. Banks do not pay title companies $300 for notaries - that fee covers Fed Ex, staff that opens packages, does quality checks, calls you because you forgot to notarize one page, and the staff that cuts checks to pay off mortgages and other cash disbursements - be careful what you assume. when notaries are naive they cut themselves out of an industry - no one pays anyone $300 to notarize docs.

Reply by AmyKushma on 12/25/03 9:53pm
Msg #481

I agree. That is too far for $75.00. I work with several local Title companies. I am the one telling them how much the fee will be. One of the companies actually charge the borrower extra for my fee alone. I once charged them $300 for a closing 100 miles (1 1/2 hours drive) one way. They had no problem because they didn't want to travel that far and they were not losing money anyway. You should look in your local phone book for title companies and solicite your services. Go to these companies and give them your card. Even though these companies have their own employees as Notaries, they get busy and if they have more than one closing at the same time they would be grateful to have you take care of it for you. Just remember don't charge to little, but don't charge too much either. I charge $75 for local signings in my county (usually within 20 miles). I charge $100 and up to $175 for other counties within 50 miles. I base everything on my time not mileage and I average $50 per hour. Don't sell yourself short! Good luck!!!

Reply by Rosemarie Styles on 12/28/03 6:38pm
Msg #496

If all of the notary signing agents charge the companies the suggested rates that the NNA has noted. The signing companies will change their rate schedule or will not have any notaries to do the closings. There is power in numbers and the unity of the signing agents.

Reply by docmover on 12/31/03 8:39am
Msg #524

Fees are to low! Your territory should be no more than 50 miles in radius. You need to be able to do more than one run in a day. Minimum for a newby $65 right in your back yard. Get on a national established company list whom you know is going to pay. Then explore with the little guys who may or may not pay you, it is the cost of being independent. Listen to us all, we sometimes don't get paid. If you follow thier rules and they don't follow yours they don't value your service move on. This is a great way to vent that's why I'm here. We see what is happening and you get really great advice some times I know I have.

So I humbly say keep your head up! Keep pushing! Be honest! No what your talking about! You will make money!

Reply by Anonymous on 1/5/04 5:51am
Msg #544


who would you say is a national established company in the eastern region?