Posted by BrendaTX on 1/3/05 8:12pm
Msg #15347

C J Signing and Verification Agents $30

Stated on http://www.cjsigning.com/SigningAgent.html

"Our unique program allows the borrowers to receive their pre-closing package via email. C.J. Signing shcedules a Verification Agent to pick up the signed pre-closing documents, confirm signatures, ensure that all necessary documents are enclosed, ensure that the supplied Broker's checklist is completed and that the package is ready for shipment. We pay $30.00 per completed assignment."

So, from what I read here, this means this $50 company will email their docs to the bwr and you'll still do the same job, only they will not FEDEX them to you, the borrowers print them and they will pay you less than the same fee I get for going to the doctor's office and notarizing an affidavit today.

Am I wrong?

Reply by Tom on 1/3/05 8:21pm
Msg #15348

"C.J. Signing shcedules a Verification Agent to pick up the signed pre-closing documents...." OK the borrowers get the docs, sign them (guarantee some will sign in advance no matter what the instructions say) and wait for the Notary to show up. Notary still has to go through the package only now there will probably be mistakes that we could have prevented. Call the title co. or LO and find out if any of the errors the borrower made are fatal. I have done a few signings where the docs were sent to the borrower and still got my regular fee. Generally takes a little longer because I didn't get to go over the package before I left for the signing. If any of you think this is a good deal I have this OLD bridge in NY and some prime swamp land in FL that I'd like to talk with you about.

Reply by sue on 1/3/05 10:24pm
Msg #15363

I LOVE it when docs go to the borrower. I give them instructions ahead of time on opening, reviewing & calling LO w/questions. when I arrive we whip through with no questions or problems because they've gotten them worked out before I arrive. That's why they send the docs to the borrowers, so they can go over them at their leisure. I don't review packages ahead of time even if I receive them days ahead of time so that part makes no difference to me at all. I always wonder what good it does to review the docs ahead of time - on occasion finding a note in the middle on ink color but that's about all I can figure out.

Reply by CaliNotary on 1/3/05 8:52pm
Msg #15351

Yes, you're wrong.

What they're paying $30 for isn't a final closing package, it's the preliminary documents that the borrower needs to sign and/or complete - the good faith estimate, TIL, loan application, etc. Nothing is notarized at this point. I've done a couple of these for other companies. But I sure as heck didn't accept $30 to do it.

If the borrowers have everything signed in advance, basically you'd be double checking the signatures and double checking against the broker list to make sure all the docs are there, that's about it. Should be able to do it in 15-20 minutes. If they tell the borrowers not to sign until you get there it'll take as long as a regular closing.

They still pay their "knowedgeable signing agents" a whopping $50 for a loan closing.

Reply by BrendaTX on 1/4/05 1:34am
Msg #15371

Thank you. I see my mistake now. "pre-loan" package. Got it.

Reply by CaliNotary on 1/4/05 4:01am
Msg #15375

DON'T let it happen again!

Reply by BrendaTX on 1/4/05 9:10am
Msg #15388

Cali said: "DON'T let it happen again!"

Well...You did not yell...but, you had very clear inflections of disappointment.

It's probably a good thing you gave me the raised eyebrow...with Hugh's noted absence, I think I have gotten a little bit prissy. If he's not back in a week, I may take on illusions of grandeur.

Reply by Mike/nj on 1/3/05 9:27pm
Msg #15355

I did 1 signing for them for 200 dollars, they offered others at 50 dollars and I turned them down. Someone in my area is doing the 50 dollar signings.

btw: Our company has not been paid for a signing in November yet. So there a slow paying company as well.

Reply by Debbie/NJ on 1/4/05 3:28am
Msg #15374

Yes, Mike, they are slow in paying. However, when I called them about a signing I did in November, they said their payment schedule is any signings done in November are paid at the end of December. I just got my check yesterday (1/3/05) for the signing I did in November. This was one of the first signings I did. That's why I accepted the $50 but I haven't accepted any other assignments from them or any other company for $50. You'll probably be getting your check any day now.

Debbie

Reply by Lee/AR on 1/4/05 10:39am
Msg #15396

Anyone actually done one of these?

I got suckered into a similar deal...(not for $30, tho')..."Loan Appl., no notarizing; just pick up a bit of paperwork & get a few signatures---shouldn't take more than 15 minutes". An hour & a half later, she's still going over the paperwork, still has to 'look for "the needed documentation" I'm supposed to pick up... and wound up not signing it anyway. (Yes, I did get paid, but this took longer than a normal loan signing.)

Reply by BrendaTX on 1/4/05 11:13am
Msg #15397

Re: Anyone actually done one of these?

Yes...but not the same company. From my experience with pre-close package verification...I set my fees a little higher.

I WILL do custodian of a records notarizations for $25-35 because *I* set the time it gets done. And usually that means, anytime between 8-5 pm.

But, I no longer allow an appointment of any kind to be *set* for me for less than $50. There's a little premium charged for tying yp my schedule that way.

Seems like when signing services come to me with affidavit work at COR-doctor's offices, set the exact appointment time, etc. it runs into time explaining why I cannot do certain things, being berated for not doing what hundreds of notaries have done before, and a flurry of faxing and argument.

I have a bill outstanding from a one affidavit job an SS who keeps emailing me and saying I'll be paying you soon. Hang in there. Well, if I work directly for the lawyers and litigation support folks, I get paid that week.

I had the same experience that Lee/AR did. And, missed a good $100 appointment because I was inflexible. I figure to *set* an appointment is worth at least $50. I may not work as much as I could otherwise, but those cheapy *set* appointments run into time I am not willing to give for less than $50.

HOWEVER, in the instance of this instance of verifying a pre-close package. As it turned out, I was there for a lender the bwrs had already said NO to.

I did not get paid for that one because I saw ahead of time that the service that sent me was going to try to blame me for not "selling" the loan. I told them to take me off of their list and forget the bill. I don't have time to chase a $40 check that I will have to hassle over. Sometimes you have to cut your losses and move on.

As a matter of fact I am quoting $35 for one affidavit these days rather than $25 because more and more I am being required to drop records back into FEDEX or LSO.com for o/n delivery to Houston/Dallas/Austin.

If I want to, I can bill less...and I do, if they don't take a drop off or a fax back. (I back off the fee sometimes because I gotta keep a reasonable travel fee + $6 per notarization in mind. ) But I quote the fee higher. Litigation support firms I work regularly for know this and don't have a problem with it.

No one else has balked, and in fact two have told me they are paying $50 for this type of work now.

I think that's highway robbery for a notary in my situation where the trip is only 10 minutes there, 10 min. in the doctor's office, and 20 minutes back if I have to drop it off at the courier box. I try to work at $25-$40 per hour because that covers expenses and makes a profit.