Posted by Philip Johnson on 8/23/08 11:00am
Msg #261416
Henry is this you?
http://www.notaryrotary.com/agency/details.asp?rpid=1AAA00019234
http://www.globenewswire.com/newsroom/?d=74414
http://www.globenewswire.com/newsroom/news.html?d=132811
| Reply by WDMD on 8/23/08 11:16am
Msg #261420
Interesting. According to the globenewswire story revenues for Express were $500,000 for 2004, when the industry was in it's peak years. According to Henry's post #261391 his costs are $65,000/month now, with the industry in its tanking years and with many industry giants going out of business. I guess his revenues now are significantly more then in 2004. $500,000 divided by 12 is $41666/month.
| Reply by CopperheadVA on 8/23/08 11:42am
Msg #261429
Courtesy of Linda_H/FL's research (message # 261296):
http://kepler.ss.ca.gov/corpdata/ShowAllList?QueryCorpNumber=C2494409
Suspended: The California corporation has lost all rights and powers for failure to meet statutory filing requirements of either the Secretary of State's office or the Franchise Tax Board. Information regarding the type of suspension can be obtained by requesting a status report. Fees and instructions for requesting a status report are included on the Business Entities Records Order Form (pdf).
| Reply by davidK/CA on 8/23/08 12:05pm
Msg #261433
Why should we care?
Henry represents a SS. His company's revenues, costs and profits are none of my concern and shouldn't be the concern of other NSAs. What is important is does he promise to pay the notary a fair fee, actually send out checks in full as agreed and on time, and will they clear the bank?
This is not a forum for a SS to blow their own horn. We should ignore him just like we should ignore continual self-promoting comments by NNS.
| Reply by Linda_H/FL on 8/23/08 12:18pm
Msg #261436
I think revenues have become an issue because of
statements made by Henry himself right here, especially the first one.....
“fees will remain at $50-$60 for an overnight and $75-$90 for an email”
“San Francisco, downtown, is the only area of the country, that we see, that notaries get slightly higher fees.”
“Downtown San Fran is the only place in the country we see any resistance at all to our fee schedule.…”
The point being if he (or any other SS/TC for that matter) is charging $125-$150/file and the notary is only making $50-$60 on that signing, that's quite a profit for the work performed on his part coupled with his liability exposure vs. the notary's. MHO
| Reply by WDMD on 8/23/08 12:19pm
Msg #261437
Re: Why should we care?
I personally don't care if you care or not. I'm just pointing out inconsistencies in his statements which shows he's a BSer.
| Reply by davidK/CA on 8/23/08 12:24pm
Msg #261439
Re: Why should we care?
That's my point. Why should we care about a SS owner, chief executive, president, or whatever is his latest title says about his company? My concern is will I get paid a fair fee for doing a professional job when I'm supposed to be paid, or will I be working for nothing while some SS guy is off spending my hard earned money or using it to pay someone else?
His intercompany stock transactions and revenue projections mean nothing to me. I just want to be paid fairly and on time.
| Reply by WDMD on 8/23/08 12:44pm
Msg #261444
Re: Why should we care?
Good point.
| Reply by jba/fl on 8/23/08 12:16pm
Msg #261435
SAN DIEGO, March 14, 2005
Sage Global Solutions, Inc. (Pink Sheets:SGGL) announced today that it has acquired Express Notary Service, Inc. (Express Notary or ENS), a privately-held company headquartered in Irvine, Calif. The acquisition is accounted for as a share purchase and exchange, wherein Sage will issue six million of its shares to the owners of ENS in exchange for 100 percent of the outstanding shares of ENS, after which Express Notary will operate as a wholly owned subsidiary of Sage Global.
Sage Global will form its strategy, infrastructure, and business model around the merger with Express Notary. "By placing Express Notary as the centerpiece of our business, Sage Global expects the merger to increase its revenues and increase its shareholder value," said Henry Davidson, president of Sage Global.
Andy Kondo and Henry Davidson, both of Express Notary Service, Inc., will join the Sage Global board of directors. Davidson, who will take the position of president, began his career at Tradeway Securities and then moved to Equity Trust Advisors. Kondo, who will be CFO and Secretary of Sage Global, formerly worked in the financial services industry as an investment advisor and then moved to the Corporate Executive Services division of Roth Capital Partners. Kondo and Davidson founded Express Notary in 2003 and have seen it through its startup and initial growth phases. Express Notary's revenues topped $500,000.00 in 2004.
IRVINE, Calif., Dec. 10, 2007 Sage Global Solutions, Inc. (Pink Sheets:SGGL) (Frankfurt Stock Exchange:WKN A0J265) (Frankfurt:Q9A) announced today that it will acquire PrimeStar Marketing Inc. as part of a strategic move to restructure the company's business plan. Under the new plan, the company will divest itself of some of its mortgage and insurance service operations to focus on providing essential money services to the insurance carriers, third party administrators, self-insured benefit trusts, and consumers with limited access to banking services.
Joey Sanchez, CEO of PrimeStar Marketing Inc., will replace Henry Davidson as president of Sage Global Solutions, Inc. Henry Davidson and Andrew Kondo will also resign their positions as officers and directors of Sage Global Solutions. Mr. Davidson and Mr. Kondo will continue to assist Sage Global Solutions, on an ongoing basis, as it develops its business models.
For consumers, PrimeStar, through its PrimeStar Financial Centers, will offer a low cost version of a full service bank branch, with an innovative, multi-faceted money services product to segments of the population that the current financial system fails to reach.
Illustrating the immediate demand for such a product, check cashing services charge a premium fee of up to 3.5% to cash a payroll check and more for other types of checks. Despite these high fees, these services are heavily utilized by the low-wage immigrant market.
( my note: Another Amscot type operation, or whatever equivalent in your city)
So did ExpNotary return to private ownership? Or was it one that was retained by Sage? (since Sage is divesting?)
| Reply by jba/fl on 8/23/08 12:39pm
Msg #261441
More recently: 8-23-08
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?symbol=MUTM.PK
| Reply by Becca_FL on 8/23/08 1:19pm
Msg #261451
And
http://www.pinkinvesting.com/companies/sage-global-solutions-inc-SGGL.html
http://www.hotstocked.com/companies/s/sage-global-solutions-inc-SGGL-news-69066.html
I wonder how the executives at The Firm Loans, Investors Title and Orange Coast Title would react after seeing how unprofessional and childish Mr. Davidson has acted on the forum?
| Reply by ME/NJ on 8/23/08 1:20pm
Msg #261452
Looks like Sage is a dummy corp and its worthless n/m
| Reply by Becca_FL on 8/23/08 2:28pm
Msg #261459
See message #260850 and http://www.globenewswire.com/newsroom/news.html?d=132811
The funny thing is that Sage is an active CA corp even though their website is no longer active (sage-global.com) and Express has a working website, continues to do business and is a suspended CA corp.
What's up with that?
| Reply by Stamper_WI on 8/23/08 4:47pm
Msg #261467
Wonder where
The mortgage leads are captured from? To me thats like a LO from another company sitting at the signing table. If he's got 18 closings a business day, Is that 18 mortgage leads a day? Are those leads generated and provided within the 3 day recission period? I would like to be enlightened on this possibility
| Reply by davidK/CA on 8/23/08 4:54pm
Msg #261469
Again, who cares? It's a self-promoting Signing Service n/m
| Reply by Henry Davidson on 8/23/08 5:21pm
Msg #261473
Re: Again, who cares? It's a self-promoting Signing Service
If your new to this forum we already went over this. The answers are in here.
| Reply by Calnotary on 8/23/08 6:01pm
Msg #261482
Re: Again, who cares? It's a self-promoting Signing Service
"If your new to this forum..."
Henry is English your second language?
| Reply by Stamper_WI on 8/23/08 7:09pm
Msg #261497
Re: Again, who cares? It's a self-promoting Signing Service
No I am not new to this forum. I am 10 yrs in with this business.
What I do know is that borrowers expect their information to be confidential. That lenders do not like competing Lo's closing their loans and that most SS's do not take the measures to protect themselves by simple qualification of their notary's. While I have never been asked by a SS if I am a loan officer or mortgage broker, TC's have asked. I even did a simple survey with my best clients about this subject and every one said they do not want Mortgage anyone at the table with their loan package unless its the LO for that particular loan. Thursday I did a RM where the LO was present and she told me she does "notarying" on the side. I also had a complaint about a notary I refeered that he was solicitating at the table comparing their apples to his oranges. I have also been at a signing table when the borrowers got a phone call from a lender saying " I heard you are looking for a refinance" and these folks had not gone through Lending Tree but were refinancning with their original lender.
As a third party in these transactions you have access to a dream list for any mortgage professional. Name, number and address. If you have access to their documents , you have more information. So do we but we cannot divulge that information by Notary confidentiality law.
As evidenced by recent posts, everyone involved gets hauled into a lawsuit. Even the notary. If a borrower bites on such a scenario and is unhappy, there we all are.
Because I see no evidence that SS's have to meet the BGC's that the TC's and Notary does not mean it doesn't exist. But I sure would appreciate some accounatbility from the folks I accept assignments. Especially if they spend a lot of their 18 signing per day on a notary forum. In my mind you could be looking for notaries, justifying your fees because you need lowball notaries or shopping for new clients on the SS and TC database here and any you can pick up in the threads.
Forgive any typos. My speel check feature has disappeared on the toolbar.
| Reply by Les_CO on 8/23/08 6:58pm
Msg #261494
Re: Again, who cares?/ Henry
RISK!
I am not trying to be critical here (although some would disagree) but in ALL your posts you disregard what I consider to be a critical factor in being a (legitimate) SS, that is the monetary the RISK involved. One of the most important factors in having a SS is in the disproportionate billing risks involved. Let’s say you do 200 signings in a week, and say you charge $150 per, and say you pay 100 to 125 per. You are making gross 5 t0 10 G’s . YOU now OWE 20 t0 25 thousand, that you MUST pay regardless of whether you get paid or not. Some of these will not close, some will re-schedule, some will take two trips, some will resend. BUT still the notary must be paid! And the SS owes it regardless. Most Title companies want MONTHLY billing, especially those doing a lot of FHA loans. Do this monthly and the SS has over 100 grand at risk to maybe make, 4 to 5 grand a month, after paying schedulers, and phones, web sites, etc.! The SS is in effect being the BANK for the Title Co, risking everything for what amounts to wages, or less.
A Very risky venture in today’s market. There are few out there willing to risk perhaps their life’s savings, in order to make a couple of grand a month…and work their ass off 24 hours a day doing it …with absolutely NO thanks.
Be advised this scenario is only for those that are honest, and have something (everything) to lose. Those thieves out there that are judgment proof and take bankruptcy on an annual basis please disregard.
| Reply by WDMD on 8/23/08 8:49pm
Msg #261509
Re: Again, who cares?/ Henry
"The SS is in effect being the BANK for the Title Co, risking everything for what amounts to wages, or less."
And the notary is essentially the bank for the majority of SS's.
| Reply by Les_CO on 8/23/08 10:19pm
Msg #261522
Re: Again, who cares?/ Henry
In some cases, where the SS gets paid by Title and witholds payment to the notary for months...yes. But normally, while the notary works on a basis of trust (unless paid in front) with the people that contract to them, to be paid when the loan closes,or within a specific time limit. But a contract they have, enforceable in most cases. The TC or SS must (under penalty of law) pay the notary for services rendered. Regardless of if the loan closes or not. Usually the borrower/buyer/seller pay the fees. Many SS's work on say 10% of what the notary gets. Yes, I know you all want to think 100% but that just is not so today. So (usually) three days after signing, the loan funds and the Title Company pay themselves their fees out of escrow. Sometimes they cut the notary a check too, it they are working direct, and on the HUD. But MANY times they use the payment to the notary/SS to operate with. A good SS will pay their notaries say within a week, if paid by title or not. Title wants the SS to bill them once a month, therefore one check rather than 50, and they get the use of that money. Now if the Title Company goes under like many here in Denver did last month, the SS and the notary get nothing. Yes tough on the notary, but DEVASTATING for the SS.
| Reply by jojo_MN on 8/24/08 1:37am
Msg #261554
Re: Wonder where
That would be very unethical for a loan officer to take a lead from a signing. They should keep their two jobs totally serperate.
As for leads. as soon as the credit report is pulled, the credit agencies sell the names as leads to loan brokers across the us. It is not during the three date rescision period. It is right away when credit is pulled. It shoul npt have a major inpact, gut
| Reply by Stamper_WI on 8/24/08 10:30am
Msg #261570
Re: Wonder where
In this case the ss also sells leads to a finance company. The ss is not, as far as I can tell, pulling a credit report for the purpose of generating a mortgage. Perhaps Henry can elaborate on his relationship with "The Firm".
| Reply by jojo_MN on 8/24/08 6:25pm
Msg #261609
Re: Wonder where
Signing Services can't pull credit unless they are a licensed financial institution. Please correct me if I'm wrong.
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