Posted by Mdene_AZ on 3/20/07 12:16pm
Msg #180847

Package deals to affect notaries?

I just spoke with a signing company who said that lenders were talking about '"packaging" loans. That the cause fees paid to the signing companies would be lower and of course would affect notary fees? Has anyone else heard of this?

Reply by Stamper_WI on 3/20/07 12:19pm
Msg #180849

Market to the lenders

Reply by cara on 3/20/07 12:22pm
Msg #180852

Just sounds like another justification for not paying NSA more than $50-60/signing. Add this one to "we are not making any $ if we pay more."

Reply by Mdene_AZ on 3/20/07 12:24pm
Msg #180853

I agree...I have set fee already and cannot see myself doing this for less...

Reply by ME/NJ on 3/20/07 12:29pm
Msg #180855

One of my biggest clients contacted me yesterday.. Had to change some things in order to keep the business we have been doing with them for years. There clients wanted more from them and they need to cut cost to remain with that bank.

It will cost me more on my end, but I can't give up 30-40 signings a month from this company.

I not for 50/signings, but the 150-175 days are almost gone thats for sure. Myself as a business owner we are starting to feel the crunch this month. Marketing helps, but when the business is not out there its every man for himself.

Reply by ewing2surf on 3/20/07 1:54pm
Msg #180871

I lost a title company client in Carmel Valley that was paying me $75 per loan for "in house" closings about 6 years ago because another notary had agreed to "package" the loans after they were signed. The excuse went something like "well she will package our loans for us for the same fee".

Reply by Lee/AR on 3/20/07 3:18pm
Msg #180881

Ah, yes..the WalMart syndrome: The Great Rush to the Bottom.

How long do you figure it will take them to learn that it doesn't work as planned?

Reply by Ndwa on 3/20/07 5:41pm
Msg #180911

Sacrificial lamb offer...Conspiracy

I don't think packaging is/was the idea of TC/Lender, but part of the bidding war. Isn't it common in life when someone is desperate, people would do anything to get the job over the person before them.

Reply by ReneeK_MI on 3/21/07 7:10am
Msg #181005

By "packaging", do they simply mean ...

doing the mtg/dot copies and split-shipping? Am I an idiot (rhetorical!) - I can't think of what else "packaging" could mean.