Posted by SLHMinnesota on 4/10/07 4:29pm
Msg #184510

Nations Direct - They Offer High Volume but no Flexibility

I did a signing last week that was quite difficult. It was a same day last minute e-docs signing, 25 miles away each way at rush hour. The documentation was extensive and nothing in the notary sections was filled in by the lender (State, County, Borrower's Name, etc.), and I was required to fax back about 35 pages of the loan docs, so this was a very labor-intensive signing. I did this for the $60 fee because this is what Nations Direct pays for e-docs and they do give me pretty good volume. Yesterday I received a call saying some information was missed and I would need to go back immediately to get 2 documents initialed and 2 re-signed. (The docs that needed initials did not indicate initials were needed, and Nations Direct didn't tell me what was wrong with the other two docs.) But without protest I drove all the way back to the borrowers house and got this taken care of and faxed in. Today I was told that I would need to overnight the re-signed docs back at my expense. When I objected I was told that I would be taken off the list as a signer. I have been a highly reliable notary for Nations Direct for several years and this is the first time I have had to go back for anything. If Nations Direct wants to keep good notaries and continue to pay them $40 regardless of the distance or difficulty of the assignment, they should exercise some give and take. Their posted fee for a regular signing is $150 and they pay the Notary a flat $40, so we know there is some discretionary room on their part. I think it's time notaries give Nations Direct some pushback and insist that they be fair to the notaries when there are extenuating circumstances.

Reply by Sandy_MD on 4/10/07 4:34pm
Msg #184511

I can not believe that you still take these. Going 50 miles round trip e-docs for $60 means you are losing money. Even high volume $60/e-docs is not enough for me to start my car.

Reply by Teresa/FL on 4/10/07 4:36pm
Msg #184513

How can you make a profit driving 50 miles R/T on top of printing documents for $60? How much time did you invest in this signing? After deducting your actual expenses what hourly rate does this equate to?

Even without the 2nd trip and shipping at your expense, I don't understand your logic on this one.

Reply by SueW/Tn on 4/10/07 4:41pm
Msg #184514

This is a joke, right? n/m

Reply by Dennis D Broadbooks on 4/10/07 5:01pm
Msg #184525

That's MY Line...

...& I'm supposed to clear it with Zee first prior to responding!

Reply by LC/AZ on 4/10/07 4:49pm
Msg #184521

Nations Direct called me yesterday for a refi. (35 miles one way) I quoted my fee, (which was a heck of a lot more than $60), and was told he would have to get an approval and would call me back. Still waiting. (LOL) I guess someone in Arizona is doing $60 signings, as well.

Reply by MB_AZ on 4/10/07 5:41pm
Msg #184534

LC/AZ

I know there are notaries here in AZ doing $60 signings all day long. But, it's not me! I have not changed my fee since I started doing signings and don't plan on it. LSI called yesterday and said the county I cover they can get signers for $65 easily. I respectivly told them I would not change my fee. They did meet my fee for a signing I did this morning for them (LSI PA).

Reply by LC/AZ on 4/10/07 6:01pm
Msg #184537

Re: LC/AZ

MB_AZ, so glad to hear that you, too, said "No!" We must stand together and refuse these ridiculous offers.

Reply by BP/WV on 4/10/07 10:09pm
Msg #184566

Re: Nations Direct

They are a slow/low pay company. The more work they throw your way, puts you further in the red. Plus, you could be using that time doing work for high paying companies that pay within 2-3 weeks. Work smart....not hard!

Reply by Joan_OH on 4/10/07 4:42pm
Msg #184515

If you want to be treated like a professional......

charge a professional fee. What else would you expect from a company who will pay $60 for edocs?

They "say" they'll take you off the list, but somehow, $40 companies never do. If you're willing to work for that, they WILL call you back.

Joan

Reply by SLHMinnesota on 4/10/07 4:46pm
Msg #184518

Re: If you want to be treated like a professional......

Thanks for your feedback, and no, I'm taking any more of their assignments unless they're overnight docs in my own backyard and I've got nothing else to do.

Reply by Bonnie_CO on 4/10/07 4:46pm
Msg #184519

Nothing quite like having to pay someone for the

priviledge of doing a closing for them! LOL! There's no way you could make anything at all and probably end up paying a little out of your own pocket just to do these closings! In this case, at these distances, I'm hard pressed to believe you make any profit per closing! JMO

Reply by DebbieT on 4/10/07 4:54pm
Msg #184523

Dont sell yourself short.

Thats when people will take advantage of you.

Reply by Terri/Fl on 4/10/07 4:53pm
Msg #184522

WISE UP!!!....just say NO to Nations Direct

It's time you see the light and realize that by accepting these LOW FEES you are encouraging Nations Direct to offer peanuts because they know they can find a sucker to work for nothing. Say NO and refuse to be their slave.....you' ll feel better about yourself and our profession by only agreeing to professional fees for professional closings. Once they (ND) know you'll work for free....you are stuck with insulting fees and they know you have sucker written across your forehead. Do us all a favor and WISE UP!!!

Reply by LisaWI on 4/10/07 5:27pm
Msg #184530

Re: WISE UP!!!....just say NO to Nations Direct

Nations Direct is making a killing here. Of course this is just an example, but take it for what its worth.
$150 a closing with 100 closings that day. Total $1500.
Pay notary $40-60, so round off to $50 times 100= $500.
$1500 minus $500 to pay the notary=$1000
$1000 times 5(days in a week)= $5000 a week.
Not bad money for scheduling people to do closings.

Reply by Calnotary on 4/10/07 5:37pm
Msg #184531

Re: WISE UP!!!....just say NO to Nations Direct

I can not believe people work for this fees. It would be better to work for Mcdonalds or Walmart, at least you are at a cool place without wasting your [e-mail address] gallon. OMG, I can't believe this!!

Reply by JanetLA on 4/10/07 5:43pm
Msg #184535

Nations Direct: Are you kidding me? Really?

Not only do they have a super low pay scale but they are ridiculous with the number of times they want you to call: when you arrive at the closing, when you have the witness names, when the signing is complete, when you drop the docs (oh, this is AFTER you fax them all back). On top of the low fees and tooooo many phone calls, they take forever to pay the $60. No way that I would do these for $60. Your minimum should be $100 and if you are driving you should charge double at least from what they offer.

Reply by Roger_OH on 4/10/07 6:08pm
Msg #184539

It's even worse, Lisa...

In your example, $150 x 100 is $15,000/day. Go from there -

Reply by LisaWI on 4/10/07 6:29pm
Msg #184544

Re: It's even worse, Lisa...Ooopsy!

I knew I did that too fast. Brain Fart. But you get it. Ridiculous fees in comparison to what they "might" be making.

Reply by DogmongerCA on 4/10/07 6:24pm
Msg #184542

This sounds like the watermelon joke

Two guys are buying watermelons direct from the patch for .25 apiece and driving them into to town and selling them for .25. They came to the conclusion that they were not making any money. Their answer to making a profit, GET A BIGGER TRUCK:-)

Reply by Lee/AR on 4/10/07 6:27pm
Msg #184543

Just say NO. Unless Nations is your favorite charity.

Hope you learned something from your ordeal. They're jerking you around. There is no loyalty, but there IS flexibility if you stick to your fees. And $60 doesn't even begin to cut it for this one. They will pay more, but you have to be very firm.

Reply by LJ on 4/10/07 6:43pm
Msg #184547

Re: Just say NO. Unless Nations is your favorite charity.

I certainly hope you and every other notary out there reads your post and will finally realize what you are doing to yourself and the rest of us. You are better than that and you need to stop selling yourself short. You are a professional, say it over and over to yourself until you believe it. Believe in yourself. This is the last signing you will be taken advantage of- Right!!!! I certainly hope so, not only for you, but for all of us. I turned down one today that wanted to pay $45, 20 miles away. Are they crazy? $70 for e-docs.

Reply by pan/nd on 4/10/07 8:27pm
Msg #184553

Re: Just say NO. Unless Nations is your favorite charity.

I agree with all the above posts about Nations Direct.

Ironically, one of the higher amounts I've ever received was from Nations... $350.

'course I had to drive 1,000 miles, go by dogsled to the borrowers, fight off blizzards and tornadoes, dodge terrorists, avoid forest fires and swim across Lake Superior to get it.

Reply by Gigi/CA on 4/10/07 6:49pm
Msg #184549

Just say NO to $40.00 and $60.00 dollar signings are you crazy? you are not only doing yourself a huge dis-service but everyone else in the business. I wouldn't fire up my computer for $60.00. I say if you plan to do work for Nations Direct you better get a day job.

Reply by Dorothy_MI on 4/10/07 8:33pm
Msg #184554

Let me tell you a story

When I first started in this business, the man who was indirectly involved with my getting in this business was doing signings for ND (and their sister company). $50 each and was running all over three counties to do it. He was kept busy all day long, running hether and yon. For several reasons, I never did much for either of these companies and developed another market (quickly found I could make $65-75 for the same jobs he was getting $50 for). Now I didn't do nearly as many signings as he did, nor did I spend all that time faxing back and driving to he77 and back. When he found out what I was making, he decided that he would go that route also, but he'd signed up to be one of there "primary signers", meaning they called him first. They kept him so busy that whenever he got a call from one of the decent paying companies, guess what? He had no time available to accept the signing. Until they lowered their fees to $40 did he stop accepting them and then started seeking out other companies. When you let them fill up your calendar, you are sacrifing future profits for current cash flow.

Reply by Joan Bergstrom on 4/10/07 9:42pm
Msg #184561

I think this is someone having some fun with all of us! n/m

Reply by SLHMinnesota on 4/11/07 8:51am
Msg #184618

Gigi, I have a day job and just do signings in evenings and weekends to supplement my income. Man-o man. Why does everyone have to be so hateful about this? There were a few reasonable helpful comments here, but otherwise these notaries seem to think they're above taking the good with the bad when it comes to taking signing appointments. I think I'll hop on out of this chat and let you guys have fun talking about how stupid other notaries are. Have a good time.

Reply by SueW/Tn on 4/11/07 6:24pm
Msg #184716

We all have to follow our business plans HOWEVER if this was your full time occupation (as it is for the majority here) you wouldn't think of accepting such low fees. So when a company that pays bargain basement fees treats you like a bargain basement SA don't complain, in this world you reap what you sow.

Reply by DD/OR on 4/10/07 11:33pm
Msg #184583

Nations Direct called me today for a signing. They offered me their usual $40.00 for overnight docs. I said "no thanks". They called back 10 minutes later and offered me $50.00. I told him my fee and he said he would call someone else. There are notaries in my area that will go for 40 or 50. They're only hurting themselves. I wish ND would take me off their database.

Reply by TXNotary on 4/11/07 12:51am
Msg #184598

Re: Nations Direct - They Offer High Volume but no Flexibili

Nations Direct is not the one making the money, it is the title company that is making a killing. Nations Direct is the scheduling department for the title company. I believe that they share the same office.

Reply by LisaWI on 4/11/07 7:47am
Msg #184606

Re: Nations Direct - On their website.........

they charge $150 for scheduling the notary, followup calls, and notices of closing to client, this does not include document preparation. Havent gotten that far yet on their website, but that is a whole different amount to be charged to the client Im guessing. There is one comment in this section of their website, that really rubs me wrong, and that is about them scheduling the meeting with the borrower. If I need flexibility with an appt, I think as an independent contractor and business owner, (in other words- in control of my destiny), I should have it if its a possibility with the borrower. Or at the very least be able to ask.
And I too, wish they would not call me. I wouldnt mind if they would just leave it at no I cant do it for this fee, I would have charge yada yada, but they try to talk you into a lower fee. The last time a schedular called I was on my way out the door to a signing and I had to cut the person short of their speil. And I very firmly stated, this is my fee, I have to go, thank you.
I have no desire to barter with my fees. This isnt an auction, its my business and my livelyhood. I know my "lowest" fee to accept, so accept and be done with it.

Reply by David Kral on 4/14/07 1:14am
Msg #185176

AVOID AT ALL COSTS

Highly unprofessional organization. Lie about the size of loan packages. Do not call when transactions cancel. Lie about fax backs. Packages often very late. Borrowers often unhappy with the packages when they arrive as settlement statement is not as they expect.

Avoid at Nations Direct at all costs.