Posted by Anonymous on 4/20/06 7:58pm
Msg #114947

From the owner of a Signing Agency

I would just like to put this out there for those who would like to respond. I have been running a signing agency for almost four years now and now and then I stop in at this forum to see what signing agents are talking about. I feel compelled to say something... When we call a notary we ask what do you charge? We actually usually try to accomidate whatever the notary asks, after all it is your buisness. But what we usually pay out is $100-$125 per signing even up to a $150 coming from a signings agency i'd say thats not bad. (always e-docs). Now when we pay out to the signing agent an amount this high (what you want) we have no choice but to wait till we are paid on that assignment ourselves, if we dont, which weve tried, we would be out of buisness. So for FYI it usually takes about 3 weeksfor us to get paid if things go smoothly if things dont go smoothly thay take about 6 weeks which ended up included a lot of work on our end to collect that outstaning balance. We get calls from notaries who are upset about payment but please understand we hate it as much as you do. **we have never not paid a notary**--never!.. so..please just try to be a little patient, for the most part I'd say most of you are. If I can add just a bit more. What we expect from a signing agent is this, know how to sign docs without fault, no missing dates, no missing initials, know the differnece in when closing agent means you and when it means the person at the title co. double check your docs..while at the siging once again,while at the signing!. Ask questions. to the signing agency(s)..we love it (I do). I have 21 point list that is required to be signed and returnded before you go to the signing, it may seem a little, a little extensive but you know what I guarentee your signing will be perfect after you read it.

Reply by Charles_Ca on 4/20/06 8:18pm
Msg #114953

I don't consider waiting until you get paid adequate.

I am not only a notary but I do have other businesses. I have reserves to cover expenses and I don't wait until I get paid before I am able to pay my obligations. This is no way to run a business and you are courting disaster to be operating without reserves. I also be that you don't pay the notary extra for waiting which you should. It is unfair to the notary to have to finance your operation. If you don't understand the time value of business you should not be in business. That is just a fact. Of course you cold also be a troll and not a business at all, just trying to stir up some controversy.

Reply by Charles_Ca on 4/20/06 8:22pm
Msg #114954

By the way your IP address does not appear to be valid! n/m

Reply by Beth/MD on 4/20/06 8:28pm
Msg #114958

Re: I don't consider waiting until you get paid adequate.

I don't have "other businesses" as Charles does, but I do have the power company, the cable company, insurance and the list goes on. None of these liabilities care if you have been paid yet. They only care that they've been paid.

Reply by Charles_Ca on 4/20/06 8:34pm
Msg #114960

You are right Beth, have you noticed none of them tell you

up front that they won't be able to pay you in a timely manner?

Reply by Beth/MD on 4/20/06 8:37pm
Msg #114962

Re: How insulting to have someone try to say

We're gonna eventually pay you for the work we expected you to do professionally, timely, and on your dime. What nerve!

Reply by Teddog_CO on 4/20/06 8:45pm
Msg #114966

Re: How insulting to have someone try to say

Then the notary has a great time chasing these people for 3 or 4 months. Wow ! What a great way to run a business. NOT ! If only we could pay our bills that way. lol

Reply by TRG_wy on 4/20/06 8:40pm
Msg #114964

Re: I don't consider waiting until you get paid adequate.

I too have my own business and must agree with Charles. Although I can understand where you are coming from, the burden should NOT rest on the notary to hold you up. You need to have reserves to cover the expenses. My reserves run extremely low when I don't get paid for my out-of-pocket costs up front and still have not received payment for 60 days (or more).

We provide the immediate service at our expense and it is just not realistic to expect us to sit still for 6-8 weeks to get paid for those services. We have expenses too, immediate expenses; like gas, toner, paper, internet service, phone bills ...

We should be paid way up front like appraisers are. Our services are just as important, if not more so since we actually finalize the paperwork.

Reply by lulu on 4/21/06 2:39pm
Msg #115162

Re: I don't consider waiting until you get paid adequate.

hahahha. So does that mean I'm doing something right? I have some customers who do pay at time of setting aptmt.

Reply by Teddog_CO on 4/20/06 8:40pm
Msg #114965

Well said Charles Ca !! n/m

Reply by TitleGalCA on 4/20/06 10:27pm
Msg #114997

***so..please just try to be a little patient, for the most part I'd say most of you are***

And that is no credit to you anonymous. It is only due to the credit of the notary and their level of class/professionalism. Quit making it sound like a quality that is required. The problem is yours, not the notary.

Reply by TitleGalCA on 4/20/06 10:29pm
Msg #114999

And here is what is required by a signing agency

***What we expect from a signing agent is this, know how to sign docs without fault, no missing dates, no missing initials, know the differnece in when closing agent means you and when it means the person at the title co. double check your docs..while at the siging once again,while at the signing!. Ask questions. to the signing agency(s)..we love it (I do). I have 21 point list that is required to be signed and returnded before you go to the signing, it may seem a little, a little extensive but you know what I guarentee your signing will be perfect after you read it***

No, I changed my mind. You are a troll, or incredibly stupid, or get your ha ha's by reading this board.

There, I just gave you one. Now, shove off.

Reply by TitleGalCA on 4/20/06 10:31pm
Msg #115000

Are you responders actually falling for this crap?? n/m

Reply by NJ_Notary on 4/20/06 10:55pm
Msg #115005

Dont be such a COWARD and show ur real name instead of Anon.

Sorry but from the statement that you just made, I have no problems hold back my opinions when I say.... your a sorry excuse for a businessperson.

Reply by Loretta Reed on 4/21/06 8:42am
Msg #115062

Re: Dont be such a COWARD and show ur real name instead of Anon.

Boy. I wish the other 2 people that I pay to work for me would wait until I "feel like paying them". (just kidding) When I started my business 10 years ago, I paid my help before I got paid, period. I did that until I got enough reserve to start paying myself. Asking us to wait to get paid is just RUDE. It's bad enough that I have to wait 30 days or more from some companies. Thank God I do not depend on signing companies here for my income, I have enough title companies that pay me the day the loan funds and if the customer decides not to go through with the loan, they still cut my check immediatley. There are still good companies out there.

Reply by SLB SIGNING SERVICES, INC. - Sherry on 4/21/06 10:01am
Msg #115080

THERE IS NO EXCUSE..to not pay your agents in a timely

fashion. I too am an owner of a SS. Although I can sympathize with you, there is no excuse. I very rarely get paid from my clients immediately after funding. In fact, I sometimes have to wait months for payment (and in one case even years - 2 to be exact - and thats $5000+ in outstandings).

That is part of OUR responsibilites to the agents that we contract with. You need to have a big enough "float" to allow for non-payments and late payments and still pay the closers. They need to be paid regardless of whether we have been paid. How in the heck are you supposed to build solid, long lasting relationships with agents if you cannot treat them with the respect that they deserve!

I for one am paid up through 4/16 (checks just went out today for those who are reading) even though I have yet to receive payment myself. That is just good business practice. I fear that you are going to have a very difficult time keeping top notch closers with a mentality like that (not intended to offend).

Reply by KS_king on 4/21/06 10:56am
Msg #115091

Re: THERE IS NO EXCUSE..to not pay your agents in a timely

Thank you SLB. Why do some SS think that their business is different from other businesses? That they are exempt from paying their sub-contractors on time. If they don't have enought money to "float" then they need to close shop. Not being mean spirited but imagine everyone in corporate America get a memo saying "sorry folks, we haven't received payment from our clients, suck it up for 30/60 more days"

Reply by BrendaTx on 4/21/06 11:45am
Msg #115105

owner of a Signing Agency - You'll be surprised at this post

What is it I am missing? Seriously - I find very little to be offended by in this post. I'd rather wait six weeks for $125 than to get $50 in two weeks. GAC pays in six weeks at times and they pay me well. Give me $125 in six weeks any day. Offer $55 in two and I will laugh.

No, I don't like anon posts - but this person is not slamming. Some (many?) here post anon and pretend they don't. Some even engage alternative egos and no, I do not mean KH. I mean people who are definitely old enough to know better.

The responses to this post indicate that the majority actually believe that no ss is going into business without plenty of capital. Horsefeathers. This whole business is built on opportunistic people who will take a chance. If it goes well, then they are our favorites. If they bomb, oooohhhewwww, we hate them.

I am getting the story straight from that horse's mouth that says they don't generally have that kind of capital up front and go into the business and do just fine paying out $50-$100 while they keep 1.5 times that. Two good months and they have plenty of money to run the business if they work it right. How greedy and/or how motivated they are will dictate how soon they have all they want coming in. It's America. It's capitalism. If you don't like what you are making and you can figure out a way to make it off of someone else, go for it.

This poster sounds like a decent individual to me. OR did I miss something? If I did, tell me.

Taking any work from an SS is helping perpetuate this system. I think we deserve whatever we get because we (collectively) are so paranoid that we won't get work or that we cannot do something else that we (collectively) won't say NO--No more of the SS low-pay crap.

The big ones who are capitalized at the get-go promise quick pay at $50 and volume; they grab up the unsuspecting notaries and "train" them on rev morts and pay them $50! LOL...they eat up the little guys (like individuals) who are referring business out at a REASONABLE rate.

It's become abundantly clear in the last year to me that it does not matter if you understand being a notary or an SA. Just jump in there with a few extra thou and schedule notaries. Pay them immediately so they sing your praise on NR and continue to extract $100-$200 and pay notaries $50. People here are taking peanuts for work and they are excited when they get paid in two weeks. The SSs are laughing all the way to the bank.

Why has this person has done something horrible to say they don't pay you until they get paid? They are being honest. I'd rather take a $100+ check from a person REFERRING me business small scale when they get paid rather than a big outfit paying me $50 for my three hours while they keep $150.

I think we need to keep it real here. No need to trounce the little guys who pay decently and a little late over the ones ***-ing notaries for $50 a pop.

Okay, flame me.

I have an interesting week ahead. An attorney has called me out of the blue to come work in his office for next week. Two years ago I sent him a note that said I'd like to do that some time. He once referred me a few signings. He said I can close loans in his conf. room if I need to--he just needs help. All these dry months of having to turn down HELOCs...and now this. It's a new world every day.