Posted by Loretta Reed on 8/23/06 12:06pm
Msg #140246

She's done it this time..........

A LTP in the Salisbury area has lowered her overnight doc fee for a closing to $35.
This is crazy, especially in Maryland.
I would love to see her go down.

Reply by cassiewi on 8/23/06 12:10pm
Msg #140248

I'm sorry did I read that right? $35.00 That's crazy, how can she even stay in business?

Reply by JM_NY on 8/23/06 12:16pm
Msg #140249

If it was overnighted, they came to me,and docs we picked up at my door. I might consider it.That is for a small package. Don't they undertand gas is over $3.00 a gallon.

Reply by Regal/NC on 8/23/06 12:34pm
Msg #140253

I wouldn't even concern myself with HER fee. I doubt if HER business will be around in two (2) months. I suggest maintaining YOUR fees and you are more likely to survive this little bump in the road. JMHO

Reply by Loretta Reed on 8/23/06 1:16pm
Msg #140271

I am hanging in there but it is very frustrating that S.W. would do that. The bond and e&o that I am required to have and the continuing ed here drove our prices up in this area to begin with. I remember doing Service Link closings for $75. I can't do that any more.

On top of all of that, I got an email from a friend in VA that sent me a link to a website from a VA closer that is doing closings in my area that IS NOT licensed in Maryland. It is getting worse and worse here. The Maryland Insurance Administration has their hands full trying to keep up with all of this mess.

Reply by Lee/AR on 8/23/06 2:04pm
Msg #140285

I have to wonder if it wouldn't be a better tactic for MD to 'go after' the companies who hire these bandit notaries. The companies would seem to have a lot more to lose than some fool who takes $35 (?!) signings. Maryland has really gotten itself into a mess, but going after the companies would be quicker... less of 'em than notaries.

Reply by WDMD on 8/23/06 2:27pm
Msg #140293

I agree Lee, it would be better for the state to go after the companies who hire the unlicensed notaries. Pure greed (on the part of signing services)has driven this. No one who is properly licensed can afford to do the signings at the low rates they are offering.

Reply by LawrenceOK on 8/23/06 4:49pm
Msg #140331

No one can work for long in this business at those fees. I have two in my area doing overnight docs for $40. Leaves me open for the companies that appreciate experienced professional services.

Reply by Genkichan on 8/23/06 7:50pm
Msg #140364

If the person from VA crossing into MD is actually a licensed title producer for Virginia (many closers are and must be in order to accept money at the closing table), then I think there's a reciprocal agreement between MD and VA. If you're licensed in one, you can do business in the other without the other state's license. At least I think that's what I recall reading on the MIA website some time back. Never know...she might be licensed in VA.

Still, I agree that working for pennies in either state is absolutely rediculous...

Reply by WDMD on 8/24/06 5:06am
Msg #140497

She still would have to be commissioned as a notary in Maryland to notarize the docs in Maryland. Non residents still need to submit an application for license with MIA if they are licensed in another state.