Posted by Anonymous on 1/6/06 9:54am
Msg #86562

A vent from the other side (long)

I work as a closing coordinator for a title company. Today I called a few notaries I found on this site and a few others for a closing in a county in which we have limited coverage and to recruit for any future work we might have in the area. I was amazed at how many of the profiles stated they had years of experience yet they could not answer the few questions I asked them--including "what is your fee?"!!! They hemmed and hawed and asked what we usually pay--which I undercut by about $50-$75 since it is not my job to make sure agents can make a living but to keep overhead down for my company. All of them agreed.

Two of the notaries I spoke with yesterday actually asked me what e-docs were and then proceeded to tell me they did not have printers! Another quoted me an extremely low fee for the type of closing (2 mortgages, a QCD and edocs and bwrs copies for $75.00!!). As much as I love to keep our vendor costs down that just seemed to good to be true--no way an experienced agent would do a closing for that bit of money. When I mentioned we like the HUD-1 faxed back after the closing with an invoice I was asked what a "HUD" was....that call was ended quickly---Like I said I want to keep costs down but not at the expense of my company's reputation, not to mention the hassle of fixing any mistakes an inexperienced agent might make. As the posters on here always say it is worth it to pay a fair price if you are getting the service.

Anyway--the point of this rant is that I often see people advising that the way to go is through title companies--and I agree. We never use a signing service unless we are absolutely desperate and we pretty much "approve" any reasonable fee--especially if the agent can make a good argument for why they deserve it. However, just like you are aggravated when a SS calls you with a ridiculous lowball fee so am I when I call a so-called experienced agent and have to explain the basics of a closing. I can't afford to waste time asking leading questions to ferret out if you really DO have the experience and I certainly can't afford to be burned if you don't.
So please--don't exaggerate your qualifications!! You are not doing yourself any favors when your inexperience is revealed.

Reply by MonicaFL on 1/6/06 10:09am
Msg #86564

I agree with you wholeheartedly. Before I accept any assignment I have always made it a practice to ask what kind of closing (1st, 1st & 2nd, etc), are there any faxbacks and how I will receive the docs. This way I can quote a fee accordingly. Every once in awhile, while playing out the docs I find that a QCD is "thrown in". I call the SS company (in this instance that who called me) told them that I specifically asked if there were any "add-ons" or piggybacks - I was told this the other day "well, its all part of the same package" and my response was "well, without the QCD there will be no package". They agreed to the additional fee for the QCD but didn't like it. I don't think the questions I ask are too hard to understand - especially if the title company and/or SS know their stuff. Just thought I would respond to you. If you need a notary around Lake, Sumter or Marion Counties in Florida, call me. Hope you have a very prosperous New Year.

Reply by Charm_AL on 1/6/06 10:21am
Msg #86571

That's why you shop around. Just like anything else, you get what you pay for! I wouldn't shop Wal-Mart if I was looking for a nice silk blouse, I'd shop Penneys and pay more...it would last a few washings. Like anything else, there's always a diamond in the rough, just have to kiss a lot of frogs to get to it That's life.

Reply by Sylvia_FL on 1/6/06 1:17pm
Msg #86692

Re: A vent from the other side (long)- Monica

A QCD or any other type of deed included with the package is part of the package and there should be no extra charge for those (If you felt you needed to charge extra the most you could charge for the 1 document is $10)
Now if it was a piggy back - which is a refi with a HELOC added in or a double loan, then you would charge extra, but not for a QCD or any other single document included in a package.
Call me if you like.

Reply by CaliNotary on 1/6/06 1:24pm
Msg #86697

Re: A vent from the other side (long)- Monica

I agree with Sylvia. Why on earth would you charge more for a QCD specifically?

Reply by Stamper_WI on 1/6/06 3:48pm
Msg #86726

I always ask about the loan doc's in the package. It amazes me how often the rep from the SS doesn't know! Thinking it might help if I know the lenders company...they don't know that either! And on and on...... Lots of minutes on the cell before I have an idea of what I am agreeing too

Reply by LawrenceOK on 1/6/06 10:48am
Msg #86591

Hey! I like it when companies call for an assignment and throw in a few pop quizzes. Maybe all companies should do this. But to be fair to both, I have also asked questions like "will the docs be PDF" response, "who's PDF I've never heard of them"

Reply by Anonymous on 1/6/06 12:11pm
Msg #86652

LawrenceOK--It was hard to tell if you were joking or not but I certainly do not give "pop quizzes". Further explanation was asked of me when I mentioned the words "HUD-1" and "edocs" in explaining the assignment. I speak in the lingo of the business and expect people who say they are experienced to be able to understand me.
We do "shop around" for experienced agents and call on references and I realize people misrepresenting themselves is not a new development in the business world--however I just wanted to vent and mention that overstating your qualifications does nothing for your reputation.

Reply by LawrenceOK on 1/6/06 1:07pm
Msg #86686

Yes I was joking. If you have to explain to them what a HUD-1, or QCD or DOT is, then I think I would have ended the phone call. I am proud of my former 30yrs professional experience and I supply references when requested.

Reply by Anonymous on 1/6/06 10:50am
Msg #86594

And people wonder why the Professional Notaries get upset with some of the questions asked on this board by new people. Basics-Basics! What are edocs? What's a HUD? Good Lord that's just an embarrassment to our Profession. No printer?? How do they think they are going to do their job? Please don't judge all of us by those people you spoke with yesterday.

I think you can blame NNA for the (notary mill) that they have created. This type of work is NOT for everyone off the street. It's wise to have some background in Real Estate , Banking or Legal documents. Or from what I've seen , just work experience would be a BIG help. No Show's-documents not shipped back ASAP- having the borrowers come to their home to sign-you name name it, I've seen it or been told about it by my clients' it's unbelievable!

You have seen us experienced Notaries say it time and again to have a Great deal of experience before you even contact a TC/Escrow company.

Experienced Notaries have the references to back-up their claims. That means Company name-phone numbers. I'm a CNSA and know I would definitely check someone's referrences before I allowed them to represent my company.

Again, this profession is not for everyone, it is very hard work, one-one personal interaction with borrowers while remaining neutral at all times , organizational skills are a MUST, time management skills are a Must, extremely Self-Motived another Must and lastly, read, study and constantly stay abreast of the laws.


Comments from a Profession CNSA

Reply by Anonymous on 1/6/06 2:29pm
Msg #86715

This is what I see from my end...

I received a call last week from a title company I have worked for before that had previously had no problem with my fees. They decided they needed to find someone cheaper than my $125/edocs. Yesterday, I got a call because the person they sent out not only didn't get it signed, they called the title officers over 30 times asking questions regarding what each document was. The call I received yesterday was going to be the 4th attempt and the title company had no funds left to pay my $125 after paying trip & printing fees to the prior 3 notaries. I was nice and referred them to someone a little closer who I know is experienced that might do it a bit cheaper. They never called him. I don't know who they got.

It is frustrating. I was willing to do this the first time for $125 and due to my experience, it probably would have gotten done. Instead, they chose to send 3 other, cheaper, presumeably inexperienced people who couldn't get this loan closed.

Frustrating indeed!

Reply by LawrenceOK on 1/6/06 2:49pm
Msg #86719

Re: This is what I see from my end...

If I was that borrower, there would not have been a 4th attempt. Yes it is frustrating when it's a TC doing the low-balling, but after that experience I would bet they don't use those notaries again either.