Reply by Les_CO on 8/22/07 9:47pm
Msg #207130
Re: I just received this from LFC - Hmmmmmfff
I carry 100K O&E {300K in CO as a RE Broker (required)} So what?
Let's NOT let the bean counters win!
I have worked with/for Mercury Transaction from its inception. I can tell you the people there are MORE disappointed than us. They have just seen 4 years of hard work go out the window. The people that KNOW are NOT making the decisions." The 'bean counters' rule in bad times" They say "Why pay Notaries $100 when you could pay them $50." Answer: last year with using good, knowledgeable, experienced notaries we had two 'bad' files out of 20,000. XXX Company while using inexperienced 'new' cheap notaries paid out less per closing in fees, BUT had 1700 bad files that cost them more than triple our total cost. Some times you get what you pay for!
Suggestion: If we 'OLD' ones all decide to charge $300, or not do it. It will hurt us for awhile (a $300 notary cannot compete with a $50 notary) BUT we are NOT just notaries!! We are a necessary and integral part of the loan closing process. If the Title Companies charge the borrowers $450 for a "closing fee" they can damn well pay the people that 'close' the loan (Us!) Or close it themselves! Build a (or rent) a building, hire people to take care of it, answer the phones, etc. furnish it, pay utilities, hire salaried employees (health insurance, vacation pay, etc.) and make the borrowers come to them (and pay for the trouble) to close. While the 'competition' (smart Title Co's) offer 'in the home' closing's at the borrower's convenience, using good smart experienced Notaries to represent them.
I just don't understand. I truly believe, of everyone involved in this entire process, the Notaries are the least appreciated, and the most important. Our job performance and attitude control the entire matter. We can 'sell' the loan, or 'kill' it with a look, a gesture, an innocent question. Most of us adhere to a strict code of unwritten ethics. We just try and help get the job done. After all, most borrowers WANT the loan; even if in our opinion it may not be the thing to do. So after all this some ignorant CPA says “Lets pay the notary less" and the boss who forgot "customer service" and "sales" MAKE the company listens. Sad! Sad! Sad!
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