Posted by Anonymous on 7/21/05 2:08pm
Msg #53642

need to make the money signing companies r making off of me!

Hello All,

This is my first time posting, I usually just read. I have been an Illinois signing agent for a year. I know that the signing companies are making almost double what they pay me. I have tried contacting some title companies, which stated they do not use outside notaries. I am becoming very frustrated not knowing how to gain my own clients so that I can make market rate for the work that I am doing. What am I not doing?

All suggestions welcome!

Reply by patti-ca on 7/21/05 2:16pm
Msg #53647

Very few signing companies are making double... I'm assuming that if you make $50 then you think think the SS is making $100 for a total to the lender/escrow is $150. Albeit, it is possible but in most cases I would say it is a 50/50 or a 60/40 split (notary getting 60%). Many times the fee on the settlement statement is inflated or the notary might not know which number to look at...the grass isn't any greener...believe me

Reply by MaggieMae_CA on 7/21/05 2:25pm
Msg #53648

Okay...

Here's how I'm looking at the glass on the table. It's half full for me.

It's hard to get my foot in the door with a title company or escrow unless I know someone or have the availability of doing this during the day. I don't, so I need to work with signing services and out of state title companies. I need to "settle" for that.

What I do have control over is finding companies that pay reasonable fees, are flexible and are good to work with. That's the way I'm focusing my business at this point in time.

I'm working with one SS right now in Colorado where the San Diego lender is contacting me directly and I'm negotiating my own fees with the lender. I thought that was unheard of! Turns out this lender has been a pain in the neck and very fussy. The SS does more than schedule signings for them and will still make money. I spoke with the SS yesterday and they gave me their blessing.

No, I will not post the name of the SS or the lender on the board. I want to keep as much of their business as I can.

Reply by BrendaTX on 7/21/05 2:29pm
Msg #53650

Re: need to make the money signing companies r making off of

Do you know what title companies actually need notaries in your area? That would be a step in the right direction.

Reply by NY_TaxLady on 7/21/05 2:50pm
Msg #53669

Re: need to make the money signing companies r making off of

She or He isn't even telling you what state they practice in. How can you help.

Reply by hcampers/fl on 7/21/05 3:53pm
Msg #53697

Re: need to make the money signing companies r making off of

They said they were in Il.

Reply by NY_TaxLady on 7/21/05 4:26pm
Msg #53709

Re: need to make the money signing companies r making off of

Sorry missed it.