Posted by truthbetold on 12/17/04 2:53pm
Msg #13938

Signing Service charge 450.00 but pay $55

I just received a hud1 settlement statement which shows settlement fee to signing service is 450, but these jokers are trying to pay $50, of course this signing will not happen.

Reply by Anonymous on 12/17/04 4:34pm
Msg #13948

Which Signing service comapny is that?

Reply by Anonymous on 12/17/04 5:02pm
Msg #13955

servicelink

Reply by PAW Notary Services on 12/17/04 5:28pm
Msg #13956

ServiceLink is a TITLE company. They do more than just what a signing agency does so their charge is higher. Of course, them being a TITLE company, they shouldn't be paying the signing service pittance that they do.

Reply by ItsMe123 on 12/17/04 5:28pm
Msg #13957

I am not here as an employee or any realtion to service link but I would like you to know that service link is much more than a signing service. They do not "just find a notary to close the loan" but rather they arrange the whole loan process from the beginning to the end. They are much more than a signing service, thus the 450.00 is not even close to the charge of the "notary" cost.
Also I must say if you have the HUD than you have committed yourself to close this loan and cannot ethically decide you are not going to close it because you don't like the HUD. If you were silly enough to accept it for 50.00 and now you have the docs, it was your mistake to take the job for 50.00 and you are commited. Don't cancel now, you should have no in the orginal phone call. You are bound now.

Reply by Anonymous on 12/17/04 5:59pm
Msg #13959

Oh, this is supposed to be a reschedule and I reviewed the other packet, went over the fees, the total fees going to this co is $955. I already turned them down before the next packet could be edoc to me. They also wanted me to go 40 miles roundtrip. This is before I found this board and gomobilnotary.com when I originally accepted.

Reply by Nicole_NCali on 12/17/04 6:01pm
Msg #13960

I got a call from them and because the signing is right around the block from me, I accepted it. It is for Saturday and the loan packet is easy with no faxbacks. I know they have a bad rep but sometimes I will accept a lower fee for a 3 minute drive away or two blocks away with a heloc

Reply by BrendaTX on 12/17/04 8:24pm
Msg #13978

Truth be told...

If you are new, figure out what you will work for and don't worry about what the SS or Title Company is getting.

My philosophy is that we all have a bottom line that we can work for and still make money.

So, if you set your fees in a reasonable place for both your business and while competitive enough to get jobs, it's a lot less stressful to have a price and stick pretty close to it for new companies you acquire.

Reply by Dotti_CA on 12/18/04 12:40pm
Msg #14016

Re: Truth be told...

Brenda, I completely agree with you! It all boils down to 'how much profit is enough?' If I'm receiving what I determined is enough to pay my expenses with extra to play with I'm happy.

Reply by CarolynCO on 12/18/04 10:48am
Msg #14007

**I reviewed the other packet, went over the fees, the total fees going to this co is $955. I already turned them down before the next packet could be edoc to me. They also wanted me to go 40 miles roundtrip**

First off, you should have already established a *base* fee for your signing services before you even accept or turn down a signing. This base fee will include the maximum RT mileage you are willing to travel. Then you should have an excess mileage fee that you can quote the SS at the time of the initial call offering you the signing. On top of your base fee, you should be able to instantly tell the SS your e-doc fee. Your *base* fee should have absolutely nothing to do with total fees, or as in this case $955. The only fees that are any of your concern is whether you need to collect money from the Borrower(s) at the time of signing, or whether they will be getting money when the loan closes.

You should also create yourself a travel cheat sheet of your area and know the general approximation in terms of mileage and time to get to a specific zip code and take this into consideration BEFORE accepting a signing.

Reply by Anonymous on 12/19/04 5:22pm
Msg #14118

Good for you. These companies are making quite a bit off of us. I am glad for the work, but I resent being called for a last minute, email, day beofore Thanksgiving holiday signing and be offered $40.00. That takes a certain amount of greed.

As a profession, none of us should work for one penny under $75.00.

Personally, I charge $100.00 for overnight docs. It may sound like a lot, but the fact is that out of the two plus years that I have been doing this, I always give the companies great, on-time service and return error-free documents. Nothing wrong for charging appropriately for a job well done.

Reply by Loretta Reed on 12/19/04 8:20pm
Msg #14134

Hey Anon...
$100 is my minimum for overnight docs, I don't think it sounds like alot at all. I have 8 years doing this and I started out charging $75 then increased my fees last year.

Reply by Deborah Weikel on 12/29/04 9:07am
Msg #14817

You said your minimum is $100 for overnight docs. What is your fee for edocs--whether they are emailed to you or you have to go to a site and download them? And, how far will you go (from your home) for this $100 minimum fee? I assume if the signing was 40 miles away that you would charge a lot more than the $100 minimum fee, right?

Reply by BrendaTX on 12/29/04 9:15am
Msg #14821

Let us know what state you are in and you'll get more accurate answers.

For 40 miles, I'd do it for about $125.00. (Texas).