Posted by Mike_IA on 2/17/06 7:27am
Msg #97894

LandAmerica OneStop Signing Service new $50 edoc closing fee

LandAmerica phoned me yesterday to say they are lowering their edoc closing fee on Citibank Home Equity loans to $50. To earn the $50 fee the notary must: (1) confirm the appointment with the borrower within one hour of accepting the order from the scheduler, (2) email LandAmerica when the edocs are received, (3) print two sets of 30-40 pages each, (4) perform the closing, (5) fax back 8-10 pages, (6) email AND fax LandAmerica the closing status and (7) notary MUST ship the loan package on the day of signing to ensure prompt payment.

Reply by Danny_FL on 2/17/06 7:32am
Msg #97896

...and I'll start dodging pig crap falling from the sky....

Danny

Reply by Anonymous on 2/17/06 7:37am
Msg #97899

I got an e mail from them to sign up. Thanks for sharing this..its not worth my time to fill out the info if they pay peanuts. I get $110 from NASCO for Citibanks helocs....small package 35 pages or so. I sure hope NASCO didnt lose the account.

Reply by Anonymous on 2/17/06 10:10am
Msg #97951

NASCO and Citibank

They lost an exclusive deal with Citibank back in July 2005. Took NASCO months to get back any kind of business with Citibank. It's still not the same. I used to do 50-plus a month Citi deals with them back in the day. Now I am lucky if it's 10.

Reply by Anonymous on 2/17/06 10:41am
Msg #97959

Re: NASCO and Citibank

I still handle around 4 a week or so for NASCO. LandAmerica ought to get some great notaries for the $50 fee. What a joke. I cant believe people will work for these fees.

Reply by Barb25 on 2/17/06 8:36am
Msg #97918

Wow. What a deal. But the sad part is there is someone out there that will do it!

Reply by Sharon Harris on 2/17/06 9:18am
Msg #97932

The only time I can justify a low-ball fee like this with a lot of work associated with it is if the signing company gives me enough volume to amount to something substantial. And the signings have to be close by. Even then, I know what you're saying, if notaries continue to work for a pittance it just lowers the bar for everyone.

Reply by Teddog_CO on 2/17/06 9:50am
Msg #97945

LOL LOL and Rolling on the floor! n/m

Reply by Marie_MN on 2/17/06 11:18am
Msg #97976

Re: LOL LOL and Rolling on the floor!

I received the same call yesterday. They were paying me $85. and docs sent to borrower for local closings. I told them I will not lower my fee and take on more expenses. The scheduler said that they will call up to 4 notaries and whoever is the lowest will get the assignment. As stated above, I'm sure someone else will take the job.