Posted by Anonymous on 9/13/05 1:05pm
Msg #64961

MortgageDocs, good company but cheap on pay

Just got a phone call from MortgageDocs. And for the record, let me say they have always paid me in full and on time even if the borrowers rescinded. They phoned me because I find their SignStat system a pain and I no longer answer their automatic emails. So when they need a favor because no one will go out-of-town or it's a last minute rush they phone me to get a fee quote and then "will get back to me after it's approved." Today I said tell me what you'll pay and I'll tell you if it's acceptable to me. The scheduler didn't know how far it was, didn't know the local market fees, etc. He wanted a competitive fee. I said okay if I quote you a fee will you accept it on the spot or will you continue to shop around for a cheaper notary? He said it was only good business for MortgageDocs to find the cheapest notary. I said okay then tell me how cheap I have to be to get the order. He still would not tell me what they were willing to pay. So I told him I was not in the business of providing comparsion fee quotes. He still wouldn't tell me what MortgageDocs was willing to pay, so I wouldn't play the fee quote game with him. At least, he was honest in saying they were shopping for the cheapest notary to make an out of town trip.

Reply by KathiAZ on 9/13/05 1:21pm
Msg #64964

I like them and I agree that they will not pay more for longer distances. They are fast and easy to do, but if they want me to go outside of the local area I ask for a $25 increase in the rate. If they can find a cheaper notary to do they work that is OK with me. You have to deicide when it is no longer to your benefit to do the job.

Reply by Anonymous on 9/13/05 1:40pm
Msg #64966

Message Deleted

This message has been deleted by a forum moderator

Reply by Anonymous on 9/13/05 3:06pm
Msg #64975

I had the same experience with them
If they are going to shop around I have no time for them

I have already told them what I wanted and if they don't accept NOW the price goes up
With the price of gas and my time $50.00 is no longer acceptable unless its within walking distance

Reply by Anonymous on 9/13/05 3:50pm
Msg #64982

Re: MortgageDocs, unhappy company

I just recieved an unhappy e-mail from them because of what someone posted on this or some other board. I don't like their system of finding Notaries by e-mail. Have not worked for them for a long time...

Reply by LawrenceOK on 9/13/05 4:06pm
Msg #64984

Re: MortgageDocs, unhappy company

I too got the little e-mail. The only problem with Mortgagedocs.com are the fees they are willing to pay, and their unwillingness to negotiate a higher fee. Never damn mind that it NOW takes $40 bucks to fill my tank instead of $21. I told the last rep that called me that I could no longer do them for $50.00 (did I just give away a trade secret).

Reply by JO_PA on 9/13/05 4:04pm
Msg #64983

Re: MortgageDocs, good company

I have done close to 100 closings for them and have never had a problem. Yes, they don't pay great, but when I can make a little extra money doing one of their signings in a area where I just completed a higher paying signing, then I'm going to do it.
I have no complaint about them. They do most of the work for you. Their docs are all marked and ready to be signed, the deliver them to you AND they pay like clockwork!!! I never have to go searching for my check.
My only complaint is that the last four or five times they messaged me, I couldn't get the signing fast enough, even though I was sitting in front of the computer. Guess someone else likes working for them too!

Reply by Bonnie_FL on 9/13/05 6:07pm
Msg #64997

Re: MortgageDocs, good company

Someone else is working for them you say, I would say hundreds are working for them. They send out an email and if you are not at your computer to accept it immediatelyl, it is gone! I know tons of notaries that receive the same email I do and it is a battle to see who gets it first. But if you are talking about the $50 Helocs from [Lender] they offer that take 15 minutes, I don't mind that. 3/4 of the docs the BO has already seen and signed, they are just resigning now in front of us and of course a few new docs, like mortgage and riders. I do tons of them, but it is [Lender] putting the little stickies and signing tags on the docs, not Mortgagedocs.com. And, I have had problems getting packages on time and had to change the time on most of my closings. But I won't do them out of my area since I agree, the $50 is not worth the gas money! But I refuse to accept their $50 for a full refinance. That's just plain crazy!

Reply by Bonnie_FL on 9/13/05 6:09pm
Msg #64998

Re: MortgageDocs, good company

Forgot to say that they do pay on time!

Reply by Bonnie_FL on 9/13/05 6:23pm
Msg #65002

Re: MortgageDocs, good company

Forgot to say, if you are talking about the [Lender] Helocs, Mortgagedocs.com is only getting $X for the signing (look at the disbursement sheet) and they are paying their notaries $50 of that for a quicky signing. But like I said, I won't do a full refinance for them for $50 and I will only do the $50 is they are close to home.

Reply by BrendaTX on 9/13/05 8:44pm
Msg #65031

Re: MortgageDocs, good company Bonnie...

Don't be surprised if your last post is deleted. It states pretty much the same thing as the post did in this thread which has been deleted.

MD sent a letter out today right after the one up the line was deleted. If you wanted to, I guess you could ask Harry to take it off. Apparently MD had him remove the one from earlier rather quickly.

Personally, I think it seems like a rather benign comment and one that is probably already fairly common knowledge.

Reply by LawrenceOK on 9/14/05 8:07am
Msg #65096

Re: MortgageDocs, good company Bonnie...

As with everyone of your posts your right. It IS common knowledge what MD Receives and Pays for the wamu heloc docs.

Reply by Anonymous on 9/13/05 9:19pm
Msg #65034

Re: MortgageDocs, good company

When something is easy and right around the corner $50. isn't bad for 15 minuets of work. I don't seem to get any of the computer signings. I am just not around it all the time. It is always gone when I respond. Prefer they call.

Reply by Ted_MI on 9/14/05 7:47am
Msg #65088

Re: Agree with Jo 100 % N/M

Reply by DC_NV on 9/13/05 7:08pm
Msg #65016

On the docs where it says their fee is only X.00, all of the fees are not always right there. The mortgage companies almost always have other fees they are paying them; for 50.00 it would have to be across the street and already have the docs. The notaries who accept 50.00 no matter if they are loosing money are the ones killing those of us trying NOT to loose money.
I don't close loans for 50.00, ever. If everyone refused, they would up the pay. Supply and demand.

Reply by Bonnie_FL on 9/13/05 10:19pm
Msg #65040

The $50 ones are pretty much across the street from me, a 10-15 minute job and I'm home. Done and paid on time. Anyone can do these with their eyes closed. And the Helocs modifications are even quicker, just a couple papers to sign and 5 minutes later you walk out the door, again for $50.

But that is the only $50 I take, other than that I charge much higher fee and only accept a job that pays what I want, plus extra for edocs, and more for a split pkg or fax backs, etc. But, if I do the short $50 ones a couple every day in between my other signings in the same area, no biggy and I'll take the money. I won't accept if it is on the other side of town. Usually one doc gets notarized (the mortgage) and once in a blue moon a second one.

But if they are paying more than the $X to Mortgagedocs.com, then they have a side deal with them which is possible and it does not show on the Statement of Amount Financed that [Lender] is paying out on the date of disbursment (along with the other payoffs and fees).

Reply by Harry [NR] on 9/14/05 3:31am
Msg #65066

*** Important Notice ***

When discussing signing services, for your own protection, please DO NOT publish the fees you believe they're receiving for the signing nor the company paying those fees. This is for two reasons:

1) You may have signed a Confidentiality Agreement with them and such a disclosure could violate that agreement.

2) You could be spreading misinformation - the loan docs may not paint the entire picture of what's happening among all of the back-end participants.

If you violate a Confidentiality Agreement and the signing service is able to produce a court order requesting information on your identity, we will provide it.

Harry
Notary Rotary, Inc.

Reply by Ted_MI on 9/14/05 7:04am
Msg #65079

Re: *** Important Notice ***

Harry,

I think it is important that you alert the posters and readers of this board that if you receive a court order to produce you will comply with it, but when you get right down to it, I don't think you have a whole lot of choice. If you didn't comply, you could be held in contempt of court, unless say you took the steps of retaining an attorney and filing a motion to quash (which would have to be successful).

Reply by LawrenceOK on 9/14/05 8:33am
Msg #65102

Re: *** Important Notice ***

I find it kind of strange that MD is the only SS to ever complain about this (to my knowledge) and then send out notices to everyone in their database. As with most companies we talk about here, it is common knowledge what most of them are charging and paying for services. We are all in this business to make a profit. I personally did not see the post that they complained about, so I dont know if there ever was any breach of contract. I would like to know what you attorney's say. Where is Hugh when you need him.

Reply by Harry [NR] on 9/14/05 10:36pm
Msg #65279

Re: *** Important Notice ***

Whenever posts are made that reference signing service fees for this company, they invariably precipitate a series of e-mails (sent to our support team) laced with the terms "proprietary" and "trade secret."

In my personal, non-legal opinion, it is laughable to think the fee a signing service receives qualifies as "proprietary" or a "trade secret," which connotes ownership, among other things. I don't believe there is anything about the fee that someone else is paying you that can be construed in that way, especially given the fact that a) You are only a tangential player in a transaction that isn't even yours, and b) The fees are, for the most part, established by the industry and exist within a finite band.

However, with that said, I am also of the opinion that it’s a bit inconsiderate to be splashing other companies’ client relationships and compensation structure around on the board. MortgageDocs has obviously worked hard to earn their clients and probably must work harder to keep them. So, whenever they send me a half dozen e-mails in response to the disclosure of their fees on our board, I try to do something about it as a courtesy and to protect the posters from any negative consequences.

Speaking of which, there remains the matter of Confidentiality Agreements. Such agreements could be written any number of ways and it’s hard to know what people have agreed to. The notary who has signed off on something that reads, "And further, the Independent Contractor shall not disclose our clients, fee structure…to any party not directly involved with the transaction," could quite arguably be culpable and in violation of such an agreement. That is worth pointing out.

Harry
Notary Rotary, Inc.

Reply by Harry [NR] on 9/14/05 10:50pm
Msg #65282

Re: *** Important Notice ***

Ted -

In that statement, though somewhat concealed, was the following point: I would not ordinarily recognize the merit of the intentions behind a court order asking us to produce information on a poster's identity and would almost certainly set our attorney to work on it. However, in this case, I am sympathetic with the position MortgageDocs is in and, if they were somehow able to obtain a court order for this particular circumstance, I would happily cooperate with them.

Harry
Notary Rotary, Inc.

Reply by Ted_MI on 9/15/05 8:39am
Msg #65325

Re: *** Important Notice ***

Harry,

I think your normal orientation towards the identity of your posters is very honorable. The point I was trying to make is that when (and if) you received a court order to produce you have two options: comply with it or retain the services of an attorney and contest it. Ignoring it from my perspective is not a valid option. Retaining the services of an attorney is necessary as I believe Notary Rotary is incorporated and a corporation given the fact that it is not a natural person can not represent itself. So in other words there would be an expense involved. Hope this clarifies things.

Reply by Mike_IA on 9/14/05 8:26am
Msg #65100

Re: *** Important Notice ***

Working for almost 300 companies, including MD, I have signed many confidentiality agreements. I cannot think of a single agreement which disclosed what the company received so that the NSA could then determine what percentage of the company's gross was being paid out to the NSA. Some companies when negotiating a fee with you may say, "We only get paid $XX". But there's no way to know if they're telling you the truth or not. This thread seems to have hit a nerve with MD.