Posted by CF on 12/10/07 9:48pm
Msg #225410

Nations Direct- E Signings

OK- get this mass email from them today and their E-Signings Guideline/Policies/ Procedures. Mind you, I have not done a job for them for 4 years; and NEVER did one for $40.00. Here is the breakdown of the requirement and what the notary is going to have to do:
1.) Use lap top
2.) use wireless card
3.) Print around 25 pages (50 w/ Borrowers) for wet sign
4.) Travel to borrowers and perform e-sign and wet sign portion
5.) Field about 5 phone calls from Nations Direct before getting to the signings
6.) While at the signing have a Nations Direct employee on the phone the whole time(while using up my wirelss minutes for this call and the connection)
7.) Go back to my home office and fax back the at least 25 page wet sign doc package
8.) Finally drop the wet sing doc package

OK- call me crazy.....but this sounds like more work than a traditional loan signing?????Any other thoughts- if you even care. IMO- this is MORE work when you add in the lap top portion of it!!!!! I sent a reply back asking what the fee will be paid on these to determine what our relationship will be and to not waste any time and resources. I am certain that I will need more $$$ to perform this- than a traditional loan signing. Not to mention - if the borrower is not technically savvy?????? OMG- what a nightmare this will be some LO sold the B's this idea!!!!!!!!

Reply by Lee/AR on 12/10/07 11:22pm
Msg #225424

Couldn't agree with you more about 'more work & expense'. Sooooo.... what fantabulous fee are they suggesting for this?

Reply by pan/nd on 12/10/07 11:22pm
Msg #225425

This is the biggest bunch of baloney since the butcher backed into his meat grinder and got
a little "behind' in his hamburger.

I'll grant your wish CF--"you are crazy"...and so am I and everyone else who would thumb

their nose at such a ridiculous figure.

The only thing I'd do of the 8 items listed is #7...."Go back to my home...."..In fact I'd never
leave home.

Their attempt at E-signing should go where such "HS" and "BS" belong..into the manure spreader.

PS..this Nations Direct stuff won't make good fertilizer..but don't tell the farmer.

This latest boondoogle of Nations Direct reminds me of the movie.."Dumb and Dumber."

Reply by CJ on 12/11/07 11:14am
Msg #225487

I keep them in my cell phone

So that when they call me, I am not caught off guard. I have asked them to delete me from their database, but they call anyway.

Reply by pan/nd on 12/10/07 11:28pm
Msg #225426

OH, you mentioned the $40 fee as their common fee...not the one for E-signings.

Sorry about not catching that.

Not to worry...

It doesn't matter what their E- fee will be..it won't be enough to avoid the manure spreader

considering all they want done.

Just having them on the line during the signing would be worth more than they're paying.

Reply by sue_pa on 12/11/07 7:21am
Msg #225449

...Not to mention - if the borrower is not technically savvy??????...

Every so iften I truly have people that have a hard time signing their name to the paperwork. You've got to tell them 2 or 3 times, on almost every document. These aren't people that have physical or mental problems but people who just don't deal with paperwork in their everyday lives .

Reply by Julie/MI on 12/11/07 7:23am
Msg #225451

I have never worked for them and they have never contacted me.

Who is/are their client(s)?

Reply by CF on 12/11/07 9:24am
Msg #225464

It is Flagstar bank; I emailed the person back that sent out the mass email with the policies and I am waiting on a response for the fee that will offer for this type of work. I say offer b/c I can assure you that it will not be anywhere in the range that a professional and experienced NSA will accept or would classify a fee that they would charge for this service.

These companies have a lot to be desired in the way of e-signings if they think that this is going to reduce time and resources. Furthermore, if they think that it is going to save their bottom line by reducing NSA fees. I would require at least $25-$35 more than a traditional signings to perform what was emailed to me for these guidelines. I mean has the person that came up with this system ever completed a signing.....I am sure not!

In order to make this happen the process needs to be entireless wireless.....and take about 15 minutes- from my perspective and I will still plan on charging the same amout of $$$ that I do know!!!!! Still have to travel- still have to have supplies- still have to use resources- still have work- just in a different way!!!!

I really hope that people out there dont get taken advantage of- if we all say NO to low fees on this then we may be able to set some precidents and get this off to the right start! Sorry I am just on a rant about this.....this could be really simple and some jack a$$ are making it difficult!!!!!

Reply by jba/fl on 12/11/07 9:50am
Msg #225469

"...this could be really simple and some jack a$$ are making it difficult!!!!! "

It's called Handholding!

If anything, there should be additional costs to incorporate into fees

Reply by Lee/AR on 12/11/07 2:21pm
Msg #225507

Before this falls off the page, CF...

did they ever tell you what they 'hope' to offer for all this? I could use a good laugh, OK?

Reply by CF on 12/11/07 3:57pm
Msg #225520

NO- they have not responded to me email- I will update! n/m

Reply by Marlene/USNA on 12/11/07 4:08pm
Msg #225525

Remember overnight pkgs?

No email, no laser printer, no last minute docs and scrambling to make the appointment - fewer expenses, less labor-intensive, more money.

This new deal sounds like more expense, more labor-intensive, less money.

Technology is saving SOMEBODY money, but it ain't you!

Marlene/USNA, we like technology but something is wrong with this picture. . .