Posted by kcg on 5/17/07 5:27pm
Msg #190675

Has Anyone Rec'd This Email....

from Nationwide Document Service talking about a brand new operating system known as ValuAmerica? I opened the pdf file attached and not sure I understand it. They do mention a "minimal fee of $2.50" which they deduct from the payment once you are credited. When I looked at the registration, the fee was listed as $4.50 for witness closing.

Can someone explain this to me?

Reply by Lee/AR on 5/17/07 5:30pm
Msg #190677

Yup. You pay them a couple bucks for every signing you get from them, whether or not you get paid. Who dreams these schemes up?

Reply by ZeeCA on 5/17/07 5:34pm
Msg #190679

what's next???? paying McD to take your order? n/m

Reply by kcg on 5/17/07 5:35pm
Msg #190682

Hey, I want some of whatever they're smoking......

Reply by ErayFL on 5/17/07 5:37pm
Msg #190685

I will never pay for something like that. The same as I would never pay a signing service to be listed in their directory. Just another thing that greedy people think of to make money.

Reply by MICarole on 5/17/07 6:13pm
Msg #190686

They're one of the cheapest companies around. Why on earth would anyone pay attention to anything they had to say?

Reply by ZeeCA on 5/17/07 6:19pm
Msg #190687

i figured they HAD to be..... n/m

Reply by pan/nd on 5/17/07 10:42pm
Msg #190730

A transaction fee, you say !

$2.50 a throw, is it?

I should apply to them and raise my rates $10 to cover their $2.50...the difference being MY processing fee.

Pure and simple it's baloney.

Hit the DELETE BUTTON.

Reply by Joan Bergstrom on 5/18/07 12:48am
Msg #190748

Couldn't agree more!

Reply by PAW on 5/17/07 7:39pm
Msg #190698

Wrong. I asked NDS about that very thing. Here is my email to them and their reply:


From: Paul Williamson [[e-mail address]]
Sent: Tuesday, May 15, 2007 6:44 AM
To: ndsinfo
Subject: Transaction Fee - Nationwide Document Service's new operating system


I am somewhat confused as to what your Transaction Fee actually is. In the PDF file attachment to your email, it states:
"While there is a modest transaction fee, ($2.50) paid to ValuAmerica, charged only when you are credited for payment of your completed signing ..."
However, in the Schedule A to the Agreement shows: (table of fees)

Am I to assume that the fee that is paid to ValuAmerica would be the Technology Delivery Fee PLUS the transaction fee? (Thus the total fee would range for $5.00 for Deed prep to $8.50 for a purchase closing.)

How is the "fee" to be paid? Will it automatically be deducted from the amount received? Will my bookkeeper need to write a check back to ValuAmerica for each completed assignment?

When is this fee applied? Is it only applied on successful completion of an assignment when full invoiced amount is paid?

Who is "paying" the invoice? Are all invoices being paid by ValuAmerica or your clients?

Who negotiates the invoiced charges? ValuAmerica or your client.

Anxiously awaiting your response.

----- ----- Their response ----- -----
Subject: RE: Transaction Fee - Nationwide Document Service's new
operating system
Date: Thu, 17 May 2007 14:22:49 -0400
From: "ndsinfo" <[e-mail address]>


Thank you for your very good questions. the answers, in order are:
1. The transaction fee charged to NDS agents for any signing is $2.50 (ValuAmerica could not modify their default contract screen)
2. The fee, however it is administered, is paid to Valuamerica as a transaction fee.
3. There are 3 methods of payment. a. your credit card on file charged per successful signing b. Send $ 50.00 as an escrow debit account. c. Have it deducted from the fee you are paid by NDS
4. The successful transaction fee is always $2.50
5. You would be charged, debited or deducted anywhere from 3-5 days after the signing.

Hope this answers your questions.

----- ----- -----

They say the fee is only charged for a "successful transaction". So I guess if the loan didn't complete (no sign or rescind), there would be no transaction fee. But does that also mean that there would be no payment to the NSA either?

Reply by hcampersFL on 5/18/07 12:49am
Msg #190749

<But does that also mean that there would be no payment to the NSA either?>

Paul I think you just answered your own question.