Posted by Tracy (NY) on 5/25/05 6:44am
Msg #40254

What the ss get?

Does anyone have an idea of how much the ss gets from the bank? What is their "keep" that they can only pay the person who actually does the job $50-$75? Maybe I am missing something but, what do they actually do except collect a database of names and look on notary rotary for a notary? Most times the docs are coming from the bank and go right back to the bank so the ss doesn't even handle the docs or pay for the postage?

Thank you.

Reply by John_NorCal on 5/25/05 7:40am
Msg #40259

I did one the other night for Vital Signings. The customer made a mention that she was paying $400.00 for notary fees.

Reply by TN Notary on 5/25/05 9:43am
Msg #40270

I had the same thing happen once with they made mentioned how much the notary fees are but I didn't say anything but listened. Yet I was thinking I wish I were getting that. I wonder if they think we as the notary are getting that amount.

Reply by thnotary_NY on 5/25/05 7:45am
Msg #40260

They do have a function. If you have a lawn, and for some reason you are not able or don't want to be bothered with cutting it, you hire someone to do it. Although it costs you, it's easier because they already have the tools and knowhow. The SS has the Notories in differient areas of the U.S so the lenders don't have to keep a database if they don't want to and saves them money in the long run. I wouldn't worry too much about how much they make as long as they pay you what is agreed upon. You've got enough to worry about in handling the docs.

Reply by LawrenceOK on 5/25/05 8:14am
Msg #40261

I know of two SS's that pay $50-75 and are getting $250-300. Company names are clearly printed on the hud. I guess some of you think that is fair since all we have to worry about is handling the docs. Yes, if I agree to the fee, then that's that. But when I look at the hud and see what their fee is, it just BMB. We do 90% of the work and they take 70% of the fees.

Reply by Tina on 5/25/05 10:09am
Msg #40276

You could always set up your own closing company, stump for the business, pay the advertising expenses and office upkeep that is required to have someone available to the title companies 24/7. We have done that and honestly, it is easier to just get the assignment, go do the signing (and call them if there are problems) and collect your fee.

Reply by MISTY ROGERS on 5/25/05 4:27pm
Msg #40383

AMEN, SISTER

Reply by MarleneM/PA on 5/25/05 10:14am
Msg #40279

I'm closing on my own home soon (purchase) and the GFE says $150 Notary Fee. I don't know how much of that goes where.

Reply by chelleCA on 5/25/05 10:22am
Msg #40281

Being a notary, if I had to pay $150 in notary fees, I would rather request that I find a notary and they get paid the entire amount. I had a signing last night that i had originally delivered the loan application to them and they requested that I come back to do the signing. The mortgage asked for some of my cards and decided that they wanted to use me instead of a SS. It was great to see my name on the HUD statement instead of the SS.

If I evere refinance, I plan on coming here to see who is in my area and let them get the full amount.

Reply by SamIam_CA on 5/25/05 10:33am
Msg #40285

Marlene - do you have UPS/mail box etc. store near you? In CA they almost always have a notary on duty. You could ask the docs be sent directly to you. Then you take the docs that need notarization to the notary. Should save you at least $100.

FYI - the only SS I have worked with thus far keeps 30% of the fee and I get the other 70%.

Reply by Paul2/FL on 5/25/05 11:26am
Msg #40308

This question has come up before and personally I don't understand why it is being asked. You as an Independent Contractor accept/reject jobs based on what the SS is offering. What does it matter how much the SS is getting? If you think you should get more, ask for it! The SS is running a business just like you. If he/she feels that they can get someone cheaper to do the job than you without any risk to their business then I say good luck to them. This is no different that a worker in mfg thinking he/she does all the work and the boss gets all the glory/money. They don't realize the pressures that boss may be under to keep the operation afloat in order to pay the employees that are bi***ing about him/her.

Reply by SarahBeth_CA on 5/25/05 11:49am
Msg #40319

Why is this being asked? It's very possible that this is someone new to the business coming to the realization that the business is a little different than they had hoped for and is a bit frustrated about it.

This is different than the boss/ worker relationship at a manufacturing business. I am my own boss, the ss is my client. I can choose to decline the offer if they wont meet my fee. The pressure they are under is not my concern. The ss's have thier specific needs which I accept when I accept the job. I do the job correctly. I get paid. I get repeat business for doing the job the way they wanted it done. As far as the fee goes I have to decide whether that fee will be to meet my needs. The problem isn't just the minimal offers, it's also that too many notaries are accepting those offers.

Reply by stamper_WI on 5/25/05 5:57pm
Msg #40402

After today.. I come to the conclusion that the ss companies run up one heck of a phone bill trying to find a free notary at the last minute. Maybe thats why the same company sometimes asks you to call back on a non toll free number and I wonder if their boss supplies antacids? Personally, I like it on this end of things

Reply by Rose_FL on 5/26/05 1:13pm
Msg #40554

1. We are a Signing Agency and we only get $200 from the title companies, and we pay our signing agents $125.
2. We think that all though we pay enough, some notaries we came across were point blank greedy! why? because all though they didn't even print docs (cause we didn't had them yet!!) they were expecting us to pay $65 for canceling the closing, when we called to cancel probably no later than half an hour from when we scheduled it!!!!!
3. No, indeed this is not your typical employer /employee business, but unfortunately very few notaries treat SS with respect! you all expect the sun and the moon on a plater but when some of you get it wrong and get greedy noone seems to observe!!!!
4. We do have a closing agreement that goes in every confirmation email we send and what we found extremely disturbing is that all though in that agreement everything is specified and all our fees are listed, some of you call back after the closing took place to tell us that YOU added a fee for something else!!! you need to understand that if there is a closing agreement then you need to read it and if you disagree call right then and there and refuse! don't do the closing and then expect us to pay for everything else that was not in our agreement!
Why would we have an agreement? if you the notary don't read it!??!

Like someone else said it before,....if you don't want to take $50 for a closing ; DON'T, nobody has a gun to your head to accept it!!!!!! do your homework, if someone calls you for a closing for $50, then say no and check them out on BBB! you will be able to see if they even exist!

But, don't take the $50 and the complain untill you run out of keys on your keyboard!!!!

Regards,

Rose

Reply by ERNA_CA on 5/26/05 1:37pm
Msg #40563

There are two sides to every story. SS have their expense's and problems as far as collecting payment just like we do. Most of the time I find it is the lack of communication that make for hot tempers. When SS is assigning you the project they seem to have ample time to converse with you. when your payment is late they don't seem to have the time to send you an email to explain why payment is late or when it is to be expected. Nothing worse than ignoring a person that you owe money to. To day is the 26th and I am waiting for a payment from a SS that was suppose to send it out on the 15th. I did not receive an answer to my email from yesterday. Every time they call me I answer the phone, and I reply to all their emails promptly. If in return I get lied to and ignored, of course I will be upset, just like an SS will be if ignored by their customers when inquiring about late payment.

Reply by ChosenNotary_MO on 5/27/05 4:31pm
Msg #40857

Rose, what is the name of your company?