Posted by Woody_CA on 6/17/05 12:53pm
Msg #45551

? E Trade Settlement Services ?

Got a call from them to do a signing next week. Could'nt find anything posted on them after doing a search. Does anyone have experience with this Co.? Any help would be appreciated. I'm having doubts about them, after agreeing to $75 for a loan signing I find out it's really a 1st & a 2nd and they want both for the price of one. I think they tried to sandbag me, but I'll give 'em the bennefit of the doubt since I've never worked with 'em before and I can not find anything posted about them here. Please help.

Reply by mes/chicago on 6/17/05 1:03pm
Msg #45552

This is more a response to the $75 fee. I also was in this situation this week- I took a signing for an agreed upon fee of $75 (including e-docs).When I got the confirmation 2 days later it was a first and second. I thought this was way too low, considering the e-docs. I ended up not taking the signing, after calling and trying to negotiate a higher fee to no avail. I never heard of the company you mentioned, butI guess some co's only will pay a standard $75 but with e-docs I don't think its enough.Good luck!

Reply by Woody_CA on 6/17/05 1:15pm
Msg #45555

I agree $75 for a loan signing with e-docs is too low. This ss is sending docs to the borrower. ( I'd preferre they come to me. ) Anyway, it appears that E-Trade SS normally pays $45 for a 1st and $25 for a second, but they will pay more if asked. Still - a Co. with such low fees raises a big red flag for me. It's usually a sign of problems to come ala SOX.

Reply by Calnotary on 6/17/05 1:34pm
Msg #45559

1st and 2nd with e docs is a minimum of 150.00 dollars. Last one I did was set for 85.00 and they never told me it was a first and second. I called them and they agreed on the increase. Dont settle for less.

Reply by Teri-PA on 6/17/05 2:09pm
Msg #45566

E-Trade uses ATM's data base and the fees they quote are the wonderful fees quoted by ATM . Granted E-trade loans are easy - but they all forget about the huge factor called TRAVEL TIME!

Reply by Woody_CA on 6/17/05 2:28pm
Msg #45573

Sorry - who's ATM?

I've been doing Loan signings for more than 2 yrs but I've never heard of ATM... It's good to know that at least the E-Trade loans are small docs. I guess what I'm really most concerned about is their reputation for paying in a timely fassion. Thanks

Reply by anonymous on 6/17/05 5:06pm
Msg #45644

Re: Sorry - who's ATM?

Excellent to work for, pay within a week.

Reply by Teri on 6/17/05 9:10pm
Msg #45711

Re: Sorry - who's ATM?

If you don't mind working for $45....

Reply by mes/chicago on 6/17/05 2:32pm
Msg #45576

Do any of you consider a parking fee of $20 for the notary to be considered travel time/fee.The co that wanted me to do the 1st and 2nd for $75(e-docs) included would also not pay for parking.There was no other means of parking according to the borrower.That means I would have had to do print out alot of docs,do a 1st and 2nd for $55...Thats ridiculous. I don't want to turn off the co and not accept jobs, but come on...I need to make the assigment profitable and not be taken advantage of.

Reply by Woody_CA on 6/17/05 2:48pm
Msg #45584

You've got to be kidding

First of all $75 for a 1st & a 2nd (including E-Docs) is rediculous.. If on top of that you have to pay ($20 ?) for parking then accepting an assignment like this means your willing to work for minimum wage. Please tell me you turned them down. If this trend continues we'll all be doing loan signings for 50 bucks or less, at leaset those that remain SA's. C'mon people wise up.

Reply by Woody_CA on 6/17/05 3:02pm
Msg #45593

Hey mes / chicago

How about posting the name of the ss that wanted you to take that ridiculous low ball signing so I can add them to my "avoid like the plague" list?

Reply by mes/chicago on 6/17/05 3:59pm
Msg #45616

Re: Hey mes / chicago

I don't feel comfortable posting their name, as they are a reputable company and alot of people on this site praise them.I am thinking that they are known to be low pay and there are alot of notaries who will work for them and I certainly don't want to give them a bad name.Everyone has their perogative to choose to take lower fees,whether it's a financial situation or trying to establish themselves.I was going to do the signing at the low fee,because after all,I did accept the job last Friday, and this was for a Wed closing. But I had to call them on Mon afternoon to let them know I never got the conf...then was shocked it was for a 1st and 2nd.Then called the borrower to find out I needed to park for approx $20.Thats when I lost it and asked for the parking reimbursement and was told no,they don't reimburse...I'm beginning to slowly realize, that each co will negotiate very differently with the various notaries they call.And many notaries will take a lower fee if they have a slow week,which is hard for the market of us out there who feel compensation is absolutely necessary in certain circuumstances.In the future,I am going to start asking if this is a first and second so that I can get an apropriate fee!!

Reply by Bobbi in CT on 6/17/05 2:25pm
Msg #45571

They pay. $45 for 1st and you got lucky w/$30 for 2nd. /nm

:(

Reply by mes/chicago on 6/17/05 3:02pm
Msg #45592

Re: They pay. $45 for 1st and you got lucky w/$30 for 2nd.

I absolutely turned them down.I was trying to be nice, but I was angry.I felt like she was putting me in a position where I was PAYING $20 to do the signing!I was very polite on the phone, and figured they would NEVER call me again.But believe it or not they called me 2 hours ago to do a signing tonite which I couldn't take.I didn't even ask the fee,I was busy printing docs.Now I'm curious...I don't want to be turning down jobs, but this week I had a couple co's I've never work for pay me more then my usual fee.I know in reality it should average out the lower paying co's, but I agree, I am NOT here to work for minimum wage!

Reply by Calnotary on 6/17/05 4:06pm
Msg #45619

Re: They pay. $45 for 1st and you got lucky w/$30 for 2nd.

Good for you! Yesterday I had a call and I quoted a very reasonable price, but she said that she will see if she can get another notary to do it for ten dollars less. If you were to pay 20.00 for parking and a very low fee for your signing, MY GOD! You will end up paying the signing from your own pocket. You could ask the borrower to meet in a local restaurant. REMEMBER we have to make a decent profit out of each signing, not just averaging.JMHO, TIA