Posted by Calnotary on 6/13/07 12:28pm
Msg #194888

What's wrong with these SS's?

If I been accepting their single refi loans for 125.00 dollars why in the world should I now take 100.00 dollars for the same work,travel distance,higher gas prices, higher paper, etc. ?

If now they are getting less loans why the notary should get less money so they can keep the same monthly cash flowing? This sound ridiculous to me.

I would like you opinion on this.

Thank you.

Reply by Michael/FL on 6/13/07 12:41pm
Msg #194892

I agree, just because people aren't doing more loans then why should you have to suffer for doing your job! It's becoming like this everywhere, the fat cats are getting richer and everybody else is slowly going down! I think you shouldn't take it, they should still pay you the 125.00 they have been in the past

Reply by PA_Notary_II on 6/13/07 1:20pm
Msg #194897

Obviously there's less work available and someone has to take less money. The SS doesn't want to take less since their costs are not going down either. They have to make the same money in order to stay in business. The TC won't take less because they're doing less business while trying to maintain their profits. The simple solution is to get the lowest guy on the rung to take less. Our solution should be just as simple JUST SAY NO ! Eventually the SS's will go out of business (Tightwads first) and the TCs will be left to deal with the Notaries directly, giving us the opportunity to at least maintain pricing that allows us to earn a living. This downturn in business isn't all bad. It will force the weak links to do something else for a living....both SS' and Notary wannabes. For those of us that have been making our daily bread this way for years, redemption will be forthcoming. Tell 'em NO.

Reply by Sylvia_FL on 6/13/07 1:20pm
Msg #194898

It is ridiuclous. They shouldn't be offering less money just because they are not getting the same volume of business. They are still getting the same amount of money for the signing they contracted you for I am sure.

Reply by Todd Atkins on 6/13/07 2:27pm
Msg #194920

There's just not much volume and the SS will keep calling to keep costs down. I admit - frustrating.

Reply by Laurie Rangel on 6/13/07 3:20pm
Msg #194928

What's more upsetting is we have our set fees and when they try to offer us less we say no this is what I charge then they will just go down the list to who ever will do it at what they are willing to pay. We should all band together and have set fees that way we are all protected.

Reply by CaliNotary on 6/14/07 12:16am
Msg #195023

"We should all band together and have set fees that way we are all protected."

There are about 225,000 notaries in the state of California alone. How exactly do you suggest we all "band together and have set fees"?

Reply by NANCY HARRISON on 6/13/07 3:29pm
Msg #194931

IT IS SAD TO SAY BUT, THERE ARE NOTARIES THAT WILL ACCEPT ALL OF THOSE LOW, LOW FEES. IN THIS MARKET THERE ARE SOME NOTARIES THAT WILL DO THE CLOSINGS FOR $45.00 .
I WILL NOT START MY CAR FOR $45.00. I WILL BE GLAD WHEN ALL THE SS ARE GONE BY THE WAY SIDE.

Reply by Sylvia_FL on 6/13/07 3:36pm
Msg #194937

"I WILL BE GLAD WHEN ALL THE SS ARE GONE BY THE WAY SIDE."

Nancy
Please don't judge all signing services by the ones who pay a pittance for the signings.
There are many good signing services out there. I like to think I am one of them.

Those that are doing $45 closings don't even realize they are working for peanuts. They do not value their time or the service.

Reply by NANCY HARRISON on 6/13/07 3:39pm
Msg #194938

YOU ARE CORRECT

Reply by Sylvia_FL on 6/13/07 3:50pm
Msg #194941

Could you turn off your caplock when posting please? All caps is bad on the eyes - plus it denotes shouting. And I know you don't intend shouting

Reply by Christina Woelz on 6/13/07 4:16pm
Msg #194947

I suggest we all follow the National Notary Association's minimum fees: $50 for a non-certified signing agent, and $65 for a Certified. Since I'm certified, I ask for $65 when they offer me less. I tell them that is my minimum fee, as suggested by the NNA. More often than not, they agree. And, if they don't, then I get to decide how bad I want the job.

My $.02
Christina

Reply by CopperheadVA on 6/13/07 4:25pm
Msg #194949

Christina, you are kidding, right? I think you are selling yourself way short. I am not certified by any organization and I get at least double your certified $65 rate for overnight docs and even more for e-docs. As far as I'm concerned, $50 and $65 are newbie fees. Companies would love to pay only $65 for a loan closing around here, and there are lots of NSA's to choose from in my area. When I turn down those low fees, it keeps the newbies too busy to take my higher paying jobs.



http://vanotarynetwork.com

Reply by Christina Woelz on 6/13/07 4:45pm
Msg #194953

Well, thank you for that feedback! I am somewhat of a newbie - I've only been signing for about four months - I've done about 75 signings total. I do often get more than those fees, and definitely more for edocs. I have to say, not double, though! I also charge extra for signings I do in Spanish. I wonder what the variation is by market area - I'm in Seattle. I sure don't want to leave money on the table!

Reply by CopperheadVA on 6/13/07 4:57pm
Msg #194956

Christina, I think 75 loans signed in your first four months is very good - certainly more than I had after four months! However, you probably got so many jobs so quickly because your fee is so low. Look at it this way - after 75 loans you now have some experience, and you can speak Spanish which is a feather in your cap. You should reevaluate how much you are worth and start charging accordingly. I found that when I raised my prices a bit, I got much better paying clients. And get this - the better paying clients usually do not have all that handholding and faxback stuff! And they usually pay quickly, like within 2 weeks! It's the lower paying, handholding companies that take forever to pay!

P.S. I am never asked if I have an NSA certification when I get called for a job.




http://vanotarynetwork.com

Reply by WINotary/WI on 6/13/07 4:53pm
Msg #194955

I agree with CopperheadVA. Your doing all the work, all the travel, and taking all the headaches. Why should your fee decrease, if anyones fee should decrease it is the middleman, SS services. Don't believe they are getting less money for these assignments, they are averaging about $250.00 a closing, and there paying you peanuts. And if there excepting assignments less than that, then they don't deserve to be in business. Smarten up people this is a business, and you must treat it like a business, not a hobby or "extra pocket change", otherwise you'll be out of business just like the SS companies that are going under daily. Anyone excepting an assignment for less than $1xx.xx, is a fool! I'm not walking out, to go next door for under $150.00. Some of you need to go back to the corporate world, because self employment ain't cut out for you! Do the research people into this business first. It ain't a get rich quick scheme. You actually have to work, and you should get paid for that work and "expertise".

Reply by CaliNotary on 6/14/07 12:22am
Msg #195024

"Anyone excepting an assignment for less than $1xx.xx, is a fool! I'm not walking out, to go next door for under $150.00."

Anyone making these sorts of generalizations isn't all the knowledgeable either. If I tried to get $150 a signing I'd be out of business tomorrow. You may be the only game in town in your area. I have hundreds and hundreds of signing agents within 20 miles of me and the companies who call me are WELL aware of that fact. I ain't working for peanuts, but I'm not stupid enough to price myself higher than 99% of my competition either.

Reply by WINotary/WI on 6/14/07 9:21am
Msg #195057

Which is why I said "this is a business, and treat it like a business". You are in California, and if you can't market your "business" to get at least $1xx.xx per assignment, then you need to reevaluate your position. I know, personally, several Notaries from very well saturated areas in California, who average double that, per assignment. So obviously your not familiar or knowledgeable enough with your own market yet, to seperate yourself from the average XXX certified notary public and a professional NSA. You need to distinct yourself from the pack, otherwise you'll be swallowed up in the "hundreds and hundreds of signing agents within 20 miles of you...". By the way I'm definitely not the only game in town here, so do the research before you make "generalizations".

Reply by Sylvia_FL on 6/13/07 4:39pm
Msg #194951

Christina
I have to tell you that as a signing service, the NNA certification means diddly squat to me.
I prefer experience over the NNA certification. I don't know of any other industry where someone is certified without having experience.

Reply by Dawn Bath on 6/14/07 12:03pm
Msg #195091

I hope that everyone does not think of all SS this way. There are many good ones out there. I know of one that pays no less than $90 for a single closing and negotiates all fees when they call to schedule a closing.

Reply by BrendaTx on 6/14/07 1:19pm
Msg #195118

Re: What's wrong with these SS's? $90 is cheap, Dawn.

I hope you aren't printing documents for that too.

Reply by Renee on 6/13/07 7:16pm
Msg #194978

I agree with you. Why should we take less? I had a company call me the other day and asked me to take a double for $65.00. I almost could not keep from laughing. The cost of our running business is not worth that. Gas in Denver is just way too high, and paper seems to be going higher every day. NO, it is not worth you selling yourself short. SS's that do that are not worth working for. And then having to take the risk that we do is not worth that either.

Who has met up with the signers more than frustrated at the loan company and want to take it out on you?

Who has met up with the SS's that book you, don't give you accurate information, send you bad documents, or don't send the entire document, or send them 15 minutes before you have to be at the appointment?

Who has met up with the customer that is overanxious, overbearing, determined to read every word of the document before they sign a page, and then turn around and blame you for everything that is wrong?

How about putting up with the unruly children and pets at a signing and being patient thru it all, knowing that the clock is ticking and you have to get to your next appointment?

What about walking into a home filled with trash and filth and you have to clean your own spot to sit down?

and there is more.

Does this seem like we should take less for what we do?

Reply by SoCal Signing Co. on 6/14/07 12:57pm
Msg #195108

We have noticed that its not that we have less work, its that more brokers and mortgage companies are trying to entice borrowers with lower fees. That includes the notary fee. All escrow and subescrow fees in some cases.
One Stewart title company laid off half of their force yesterday, and the notary fees for a single set is $125.00 FLAT. I say flat because if the file does not close, the signing company eats the fee.
Could be that sort of situation with this signing company.

Maybe its not always the signing company that is the problem, I know that is tough to wrap our heads around..