Posted by DeeB/Fl on 11/8/05 10:16pm
Msg #75206
Florida Notaries
Can you give me an idea of what your base fee's are.
I had one SS tell me that the average rate for Florida is $75 however, i have found that to be wrong.
My base fee is $85 and borrower's copy/Edoc is $35 and double (1st/2nd mortgage) is $125. And if cancellation less then 90 minutes, or at the table or no show is $45.
Can you give me an idea of where you are in Florida and what your average fee is.
I'm in Central Florida...near Lake Okochobee and kept busy for this area.
Advise....thanks!!
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 7:40am
Msg #75291
Hi DeeB. Before I say anything, I need to cover myself because someone may read and misconstrue what I am about to say. I am a FL notary but I no longer perform closings personally. However, I own a SS and I can tell you what a lot of the notaries in FL are charging. Most of the notaries that we work with charge a $100 fee for edocs (single loan) and $75 for overnight. Now being that you live near Okeechobee, some SA's down there charge a little more depending on the travel involved..Heck there arent many notaries in Okeechobee so I would have to say that you probably have a corner on the market.
I hope this helps you in your pricing. Have a great day!
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Reply by DeeB/Fl on 11/9/05 7:55am
Msg #75294
Thank you Sherry!!!!
I just hate questioning SS who think they should downgrade our fees cuz of what most notaries charge for this area...however, I think at another sight I thought I heard the average for Fl was about $85 or higher. This is a rural area...so there is a little more traveling involved. I cover Highlands, Hardee, Glades, DeSota and Okochobee and some of Polk Counties. And all those counties are based on the same fee..anything past those couties the fees are higher.
It just makes sense. But thank you..I appreciate it very much! it helps to hear from fellow notaries what is best.
You too have a great day! <wink>
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Reply by RhondaFL on 11/9/05 8:10am
Msg #75301
DeeB/FL & Sherry, you both are on the same track for fees, I have talked to others in the business that are in and around the central area of FL, they are qoting around that $ fee. I am central Florida as well and sometimes I do get more than that, like you say this is rural area and there is much more traveling involved, less the real heavier traffic back ups.
Have a Great Day!
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Reply by PAW_Fl on 11/9/05 8:14am
Msg #75302
>>> However, I own a SS and I can tell you what a lot of the notaries in FL are charging. Most of the notaries that we work with charge a $100 fee for edocs (single loan) and $75 for overnight. <<<
Don't you think a better way to state that would be that many notaries are *accepting* those fees. I know of many, many Florida NSA's who charge considerably more than that and are doing very well. I will also state that these NSA's, including myself, will also work with a Signing Service who offers these fees if the situation is right.
This is not to say that those fees are bad, just that many work directly with title companies and lenders, cutting out the coordination middle-person; aka Signing Service. Many title companies and lenders will not work directly with NSA's, so the SS is their vendor to get things done.
Dee asked what NSA's were charging. Not what SSes are paying. The whole concept of client/contractor is negotiating the fee that will be acceptable to both parties. A signing agent must determine what they will accept for fees. If they are intent on making this their business and profession, as they should, then they (the signing agent) must take into account all the variables in determining the cost of doing business, time and effort, and profit.
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 8:24am
Msg #75304
Point taken.....Let me re-phrase that WE (my company) pay $100 for edocs/$75 for overnight and the SA's (that we work with) find that acceptable from a SS.
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Reply by PAW_Fl on 11/9/05 8:28am
Msg #75305
And that is a GOOD thing, considering what some SSes pay. I have no problems with that pay scale, all things considered.
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Reply by RhondaFL on 11/9/05 8:32am
Msg #75306
I agree with you Paw, "what is being offered," I quote high and end up having to negotiate with consideration, I will also ask what the SS is paying, if it is less than what I accept, I just tell them this is what gets me out my door. Negotiating is the key word here.
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Reply by BobRogers_FL on 11/9/05 8:57am
Msg #75311
$75 for overnight is a reasonable fee, but $25 for e-docs is not reasonable to me unless it is for a very small package that can be guranteed to be available by a drop dead date and time or a cancellation fee has been negotiated.
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Reply by DeeB/Fl on 11/9/05 9:16am
Msg #75318
Thanks everyone for your suggestions and advise on this topic.
I accepted a closing from a SS and negotiated my fee since they would not accept my actual fee...well ... the docs were over night and the TC accidentally included the invoice from the SS. I was shocked that the SS was charging the TC $200 for the signing I was doing and I was only getting $105 for the 1st/2nd mortgage closing. I normally charge $125 for this. So they were making $95 ($10 more) off of my work. So I'm calling them and telling them that I really need get pay the fee i charge seeing that they are making almost more then I am and I'm the one actually do the work.
Am I wrong to step up on this before the closing is completed today?
Advise?
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 9:24am
Msg #75327
I personally think that the SS is not paying you fairly and you should get your fee BUT I am almost afraid to say this...Since you have already commited yourself and the docs were overnighted to you, if it were me, I would probably just follow through with my commitment and know that next time I should stick to my guns on my fees prior to accepting the assignment. Some may disagree but THIS IS JUST MY PERSONAL FEELINGS.
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Reply by DeeB/Fl on 11/9/05 9:32am
Msg #75333
I understand what you are saying Sherry...and normally I would agree with you, however, I'm afraid they will again take adavantage of this not only with me but others as well. Now I'm at the point of questioning ALL SS and what they actually charge the TC/Lender's comparing to what they pay us.
I know I somehow, not sure how though, got involved in an email conversation of another SS and Tc of their fee's and come to find out the SS was just trying to get more out of the TC and nearly claiming i was asking for more when I never ever said anything to either one of them or even asked. I had charged my regular fee so i have no reason to ask for more. So i was pssst off that the TC and SS got me involved in something that was their issue...however, this is how I'm catching some SS asking TC's for money for their pockets not for our (notary) pockets.
hope that made sense!
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 9:44am
Msg #75334
Yes it made sense..and I completely understand what you are saying...I remember feeling the same when I was a SA...Coming from a SS standpoint, yes we need to make money off of these deals to survive but $95....that is a bit much considering that is only $15 more than what they are paying you - that's 50%. A profit margin of about 30% is what I make. But I honestly dont know what the norm is anymore.
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Reply by srnotary_CA on 11/9/05 9:48am
Msg #75335
Sorry to interject here as I am not in Florida. The last time we refied the notary fee on the HUD was $250.00 I have known others that have refied recently as well and the notary fees on their HUDs were just as high if not higher. It makes you wonder where all the extra is going when we only get paid 100 to 150. Just my Opinion.
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Reply by DeeB/Fl on 11/9/05 9:50am
Msg #75337
Exactly!!!!!!!!!!!!!!!!thank you!!!!!! I noticed that too srnotary_ca.... I see that and I go what? ... and I'm getting paid pennies!!!! that was another reason why I raised my fees.
Whew...ok?!!! I'm glad I'm not the only one that picked that up. And a question that should honestly be answered! (by TC's & SS)
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Reply by srnotary_CA on 11/9/05 10:02am
Msg #75340
Your welcome DeeB. I just wonder how they can get away wit this. I was stupid (please don't blast to hard) and accepted a $50.00 signing that was not to far away the LO was there and had docs and took out all the pages I needed to notarise had me notarise them and then I left 15 minutes at most. I should have charged more but I am trying to get my name out there and figured that just once to get in the door with the SS was ok and I didn't have to print docs then I saw what they were charging the BO's for notaries. Made me shudder.
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 10:04am
Msg #75342
I do have to tell you that there have been a couple of SA's that have sent me the HUD on closings that they performed (with the invoice) and the fee that was under the closing fee wasn;t even what I got paid either (i.e. my normal fee is $150 and the HUD had a fee of $200)..so I have no idea where the other $50 is going either...I am not saying this is the case in your situations but I have come across it on my end as well...
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Reply by DeeB/Fl on 11/9/05 10:09am
Msg #75346
Is there a way we can honestly find out exactly why and what that is in case we are misunderstanding or misinterputing what it really may be?
Advise.
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 10:16am
Msg #75349
Just a thought...maybe it is added on to compensate the processor in the TC (the one who preps the HUD and handles the docs)? A bonus of sorts?
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Reply by srnotary_CA on 11/9/05 10:19am
Msg #75351
THey get paid enough through the other fees the BO is paying ie: inter office fees usually 1000 plus the commission which is a certain percentage. Plus their hourly wage. Come on these people make more than the average person with all their fees and costs which are charged to the BO. (not trying to be mean but we had our fee reduced because of all the crap we put up with. So obviously they are charging more than they need to) 
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 10:21am
Msg #75353
Nothing to argue with there SR. Who knows. I was just taking a shot in the dark...
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Reply by srnotary_CA on 11/9/05 10:25am
Msg #75355
I reread that post and it did seem kind of nasty that was not my intention sorry.
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 10:26am
Msg #75356
That is not how I took it at all SR...Belive you me, know nasty when I see it and you were not nasty.
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 10:27am
Msg #75357
I meant "I KNOW" ;)
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Reply by srnotary_CA on 11/9/05 10:27am
Msg #75358
LOL that is true. You have had your fair share of it.
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 10:28am
Msg #75359
Par for the course I guess when a lot of people on here think all SS are evil...LOL
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Reply by srnotary_CA on 11/9/05 10:32am
Msg #75363
No not all evil but some need to be put infornt of a firing squad of notaries. LOL
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Reply by SLB SIGNING SERVICES, INC. - Sherry on 11/9/05 10:35am
Msg #75365
Heck..let me know where and when because I would like to join in just cause they are giving me a bad name,,LOL
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Reply by srnotary_CA on 11/9/05 10:36am
Msg #75366
LOL allright I will. n/m
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Reply by DeeB/Fl on 11/9/05 10:51am
Msg #75372
Re: Florida Notaries- LOL!!!! srnotary_ca!!! n/m
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Reply by Sylvia_FL on 11/9/05 1:49pm
Msg #75457
One thing to be aware of, is that the "notary fee" may cover more than one notary. If you notice in the packages there are other docs in the package that have to be notarized that are signed,when they are returned to the title company,by someone other than the borrower.
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Reply by Anonymous on 11/9/05 12:03pm
Msg #75396
Why did you have to accidentally receive the invoice to see what the SS was charging the TC. It's pretty much right there on every HUD, and it's often times more than $200.
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Reply by DeeB/Fl on 11/12/05 5:47pm
Msg #76177
not all HUDS have this on there...there have been some that i've seen as low as $40 or $0...so I can not rely on that 100%.
It just was weird that the TC added the SS's invoice with the packege. To me that should had been kept confidential between the two companies...or someone wanted to let the secrete out of the bag??!!! (LOL)
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Reply by PAW_Fl on 11/12/05 6:34pm
Msg #76190
What you see on the HUD, is what the title company charges to cover all their notarial expenses. There are more than meets the eye, that we do. Especially with purchases, there are a slew of other documents that must be notarized as well that we don't see at the signing table. Same with lenders that are brokers or correspondent lenders. More notarizations follow the sale of the mortgage that has to be paid for. Is the fee quoted on the HUD accurate? Probably not, but is an acceptable fee that the title company has derived over the course of doing business.
This is not to say that it will always be that way. Sometimes it isn't listed at all. Other times it may be the Signing Service or Notary Signing Agent fee.
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Reply by FloridasBestClosers.com on 1/18/06 12:20pm
Msg #89171
Okeechobee Notary Needed
Hello, I saw your message on the board and wanted to invite you to sign up with www.floridasbestclosers.com. We need more people in your area. Our pay scale is in line with SLB's.
Thanks!
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