Posted by Rick_NY on 11/3/05 4:43pm
Msg #74043

$50.00 Signing Fees! OUCH!!

I have been doing this work for about 2 years and have generally been paid $85.00 to $125.00 for courier doc closings, usually HELOCS.

My biggest client lost TWO of THEIR big accounts and I have been really scrambling to replace the business.

The companies I have been coming across seem to mostly be paying $50.00 to $75.00 [if I am lucky] for a courier doc HELOC signing. I do this full-time and don't see how it can continue to be a business at those kind of rates.

Is this what the business is coming to -- or what?

Anybody?

Reply by Roger_OH on 11/3/05 5:03pm
Msg #74046

The business is what YOU make it. Sounds like to you need to do some serious marketing that emphasizes your signing experience. Have you gone after the higher-paying title companies or better SS around the country? Do you advertise on sites like NotRot, GMN, 123Notary and even signingagent.com (say what you want about NNA, but companies DO look there)?

There are plenty of companies that pay higher than $75, but you have to get out there,
find them, and tell them what you can offer.

Reply by Camelia_MS on 11/3/05 7:30pm
Msg #74090

I do a lot of signings and occassionally I'll do several $50 signings in one week. For me they seem to go in cycles. Accept it and move on. Work is work.

Reply by Stamper_WI on 11/3/05 8:07pm
Msg #74107

I will do $50 if I only have to walk around the corner to the Primerica Office. $50 is what I was paid in 1998 and I know for a fact that title co's have raised their rates for closings since then. So my bull headedness says I deserve a raise too.

Reply by Angela Simon on 11/3/05 9:49pm
Msg #74124

Work is work, but with the rise in gas prices accepting a $50.00 signing is no profit. $75.00 is the lowest fee I charge because of the cost of living.

Reply by PJM/MI on 11/4/05 6:08am
Msg #74163

I do work for a TC that is owned by one of the largest lenders in MI. They pay $50.00 for a 1st, and and extra $25.00 for the 2nd. Docs go to the bo, package is the smallest in the industry. The bo's are VERY well informed about their loan, and I have only had one of their closings not close.. and that's because the bo was a jerk.
The bo's have everything signed before I even have my journal and APA made out! I can be in and out in about 20 minutes for these docs, and I take all of them that come my way. They pay me quickly, and I love doing their closings. I can do about 4 or 5 of those per day.
4 closings X $50.00= $200.00. Take of gas: $40.00.
No faxing back..just drop the docs after the closing.

Reply by Anonymous on 11/4/05 6:46am
Msg #74175

Well a $50.00 fee is good if the company gives you more than one signing a week. However if the company only calls once a month its not worth the time.

Reply by LawrenceOK on 11/4/05 9:19am
Msg #74193

PJM, you don't say how far you are traveling for these fees. Also those docs are SUPPOSED to be signed in YOUR presence. You need to advise borrwers not to sign any documents untill you arrive.

Reply by Rick_NY on 11/4/05 8:54am
Msg #74190

Thanks for the inmput [Re: $50.00 Signing Fees! OUCH!!]

Thank you one and all for the input. I have to agree, work is work for me right now until I can build my business back up. I will speak to the signing co. and tell them that $75.00 is my minimum. I don't think many notaries in my area [NYC] work for less.

Reply by Angelic Morales on 11/4/05 9:46am
Msg #74201

I have had some calls.... for the same fee...

I basically turn them down... if they are over nighting the package and its all sorted. with no fax back Ill take it... lol


I checked on this and found that there are vendors for vendors so eeveryone is taking a cut of the Mortgage companies allowance of Notary fees which is usually 125.00. So after someone takes a cut, the "real" Notary is only getting 50 bucks... Sad isn't IT!