Posted by Delta_CA on 12/7/06 7:00pm
Msg #164652

Got an Email from Placer Title...............

Seems they are on hard times:

Dear NCS/PTC Notary Partner,

As a result of market conditions, combined with competitive pressures to reduce settlement fees. Going forward NCS will modify our signing fees. Effective 1/1/07, we will pay a maximum of $75 for notary services, plus an additional $15 for Edocs if applicable.

We are cognizant that this still exceeds what some of our competitors are paying, but we value the services that our notaries have consistently provided and hope that we will continue to enjoy the relationships that we have historically maintained. We understand that some of our valued notaries will, regrettably, decline to perform services for this fee. In the spirit of our long standing relationships, it is our hopes that we can weather this market together as a team.

We appreciate your understanding in this matter and look forward to working with you in the future. Please do not hesitate to contact our Signing Department at 888.958.8060 if you have any questions.

Thank you for being a valued partner of NCS/PTC,



Judy Harp
President & CEO
National Closing Solutions/
Placer Title Company

I love the part about they still are paying more than "some" of their competion: All 2 of them.

Reply by Delta_CA on 12/7/06 7:01pm
Msg #164653

AND THESE GUYS ARE A TITLE COMPANY!!!!!!!! What GALL!!!!!!! n/m

Reply by Larry/Ca on 12/7/06 7:10pm
Msg #164657

I too received this e-mail.....

and will continue to do signings for them as I like them very much. No babysitting and they pay within a couple weeks.

Reply by kathy/ca on 12/7/06 8:29pm
Msg #164670

Me too Larry, but $15 for e-docs, dont think so! n/m

Reply by John_NorCal on 12/7/06 8:34pm
Msg #164671

Re: I too received this e-mail.....

Jeez Larry, it's nice to be paid every few weeks, no handholding, etc., but do you have a handle on what your costs are let alone the value of your time? $15.00 for e-docs? Sorry, but I won't load my paper tray for that kind of money.
It's thinking like this that hurts the industry. What will the next title company offer, $50 plus $10 for e-docs? Think about it Larry.

Reply by Larry/Ca on 12/7/06 11:05pm
Msg #164689

I know that $15 for edocs.....

seems silly because my costs are really more than the $.02 per page in toner and paper. If I calculated the costs of my dsl service, computer, printer and most of all my valuable time I'm probably losing money on edocs at $15. My decision to work for NCS for $90 for an edoc signing in my area is simply based on the fact that I like these people. There are people for which I won't do an edoc signing for $90. And yes it does seem rather arbituary and unprofessional. The fact is that I will not do a signing for anyone for under $75. My normal O/N fee is $100 and $125 for edocs. My fees are negotiable based on my schedule and personal whims. All in all, my excel invoice tracking keeps an ongoing invoice average and it seems to stay consistent at $111 per signing. I think that is remarkable considering that 23% of my signings are O/N docs and a wopping 31% of my signings are discounted from my normal fees. I'm well satisified with these numbers. nobody is going to get rich but the work is honest and the pay is respectible. IMHO.

Larry

Reply by Les_CO on 12/8/06 11:54am
Msg #164796

Re: I know that $15 for edocs.....

I agree with giving preferred customers a break. I do this also. If someone comes to me with a single document to notarize (like something for school) I charge nothing. We each are free to charge what we want. I do think this whole trend of $50 signings is ridiculous. Especially when you consider the necessity, and value we as NSA's add to the whole transaction.
I have just finished downloading and printing a 1st and 2nd, including borrowers copys. A total of 532 copies!!! Most legal, some letter. Am I going to do that for $15? I think NOT!

Reply by Becca_FL on 12/7/06 7:14pm
Msg #164661

Judy must have bought another new Beemer.

Greedy, greedy, greedy.

Reply by Joe Ewing on 12/7/06 7:16pm
Msg #164662

Hmmm. Judy Harp does not own Placer Title. I'm guessing that's her decision.

Reply by Brenda/CA on 12/7/06 8:56pm
Msg #164678

I received this email as well, they state they will pay $75 for the signing and an additional $15 for edocs for a total of $90. It also states that they feel they are still paying more then their competition pays, lol.

Reply by NCLisa on 12/7/06 9:46pm
Msg #164682

The closing I did for them 2 weeks ago, PTC walked away with $1500 in fees. The average closing costs and settlement fees including title insurance for the state of NC are no more than $600. Not only do they rip the locals off, they no longer want to pay their notaries. I will say that 90% of the closings I do for them in NC, I have to go back a 2nd or 3rd time, because the loan is always not what was expected.

Reply by davidK/CA on 12/7/06 11:40pm
Msg #164694

I told them to take me off their e-mail list because I won't work for those fees when they refuse to reduce the fees they charge the borrowers.

Reply by Genkichan on 12/8/06 8:03am
Msg #164744

I got the email too. I'm at the point in my business where I just flat out ignore these rediculous emails from companies lowering their fees. They can do what they want. If they call me, I still quote my fee and they can make their own determination as to whether or not they want to meet my fee on that occasion or not. Having them remove my name from their list makes it even less likely they'll ever call. So, I just leave it all well enough alone, and keep operating my business as usual, regardless of these silly emails. JMO.

Reply by Les_CO on 12/8/06 10:05am
Msg #164769

WHAT CRAP! Our fees cost the title companies NOTHING! NOT A CENT! The BORROWER pays our fee. AND without us, ALL title companies that do "national" business would be OUT OF BUSINESS! So WHAT is all this BS about "our" fees. Just another 'profit' item for the title companies! If there weren't 50 thousand NSA's (and growing/thanks NNA)) out there competing for business "our" fees would be more like "Attorney States" $300 plus. WE are a very VALUABLE resource for the title companies, THEY know it, it's about time WE realized it also.

Reply by NotaryDoc on 12/8/06 6:32pm
Msg #164885

What a joke, they still get paid the same for their services, they have not lowered thier fees, just doing less business like EVERYONE in this industry right now. Thier way of improving thier OWN bottom line. Notaries should not accept work at this pay, it lowers the entire pay scale for the entire industry.

Reply by Les_CO on 12/8/06 7:00pm
Msg #164891

Some of the fees right off the HUD on a closing I did today (A CA Company)
This is not counting the $9000 plus the loan broker got. (on a $200 thousand loan)
Administration fee…….$995
Wire/courier fees……...$263
Document fees Lender..$295
Other...$825
Escrow fee…………….$500
Settlement Fee………...$1295
Title Insurance………...$1025
“SIGNER FEE”……….$350???????
Plus all the other misc. stuff. I have to try and EXPLAIN these fees to the astounded borrower. And the company wants Notary Signing Agents to download the docs print them off, drive across town go get it signed, get photos or copies of ID’s fill out a half dozen forms, check it, fax some stuff back, call the LO (who’s frightened to death the borrower will actually READ some of the docs and see what he ripping them for) and do if ALL for less than $100??? To this I say NO WAY!

Reply by David Kral on 12/8/06 7:14pm
Msg #164894

If they balk at the fee for the notary, tell them you have print, fax, pay your own Fedex, carry E&O, and do record retension.

that usually take the fire out of them.

Reply by Carolyn Bodley on 12/8/06 10:09pm
Msg #164932

*tell them you have print, fax, pay your own Fedex, carry E&O, and do record retension.*

Why are you paying your own FedEx?--and what records are you retaining?

Reply by NotaryDoc on 12/9/06 3:37pm
Msg #165050

As a Loan Officer, those fees are OUTRAGIOUS for a 200k loan. I would not do that either, no way! And the signer fee should be what YOU get paid, I would fight for that with the escrow company....Submit your bill for that amount to escrow when you turn in your docs, see what happens... ;0)

Reply by Les_CO on 12/10/06 8:50am
Msg #165101

I agree on the costs...but none of my business. I charged them what I quoted. I had not seen the HUD. Last week I had four closings that Title charged $250 (1 @ $200 but they included a $50 edoc fee. For them, not me. I charged $25). My "Normal fee" for a refi w/edocs is $125. I usally charge $25 for edocs. This last, "Large" one I charged $32 ($.06a copy) Yes, I lost money, but better than $15!