Posted by SLB SIGNING SERVICES, INC. - Sherry on 2/29/08 11:16am
Msg #237644

In regards to fees - post from yesterday

There was a post on here yesterday stating that the poster went to my website and said that she doesnt think that $75 to $100 for a closing is fair pay. I want to clarify something because someone from NotRot also emailed me about this. Our pay for an overnight single loan is $75 and our pay for an edocs single loan is $100. This is not to say that if there are mitigating circumstances (i.e., travel, extra printing, fax backs, etc) that we will not charge our client more and in turn pay our closers more. IN addition, we do pay our closers BEFORE we even get paid (usually 10-14 days after closing). Although some will probably not agree with me on this, I do think this is fair pay, expecially since we work with the same closers consistently and can provide them with volume work. JMHO take it or leave it.

Reply by Sylvia_FL on 2/29/08 11:28am
Msg #237646

Sherry
$75 used to be fair pay for overnight docs. I used to pay $75 for overnight docs and $100 for edocs.
But when the gas prices went up I raised the fee I paid to $100 for overnight and $125 for edocs.
I also pay my signing agents before I get paid (which is as it should be). As soon as the signing is completed the check goes out in the next days mail. I realize that most signing companies do not have the capital to do this.

Reply by SLB SIGNING SERVICES, INC. - Sherry on 2/29/08 11:37am
Msg #237649

Yes it is extremely important to have the capital to pay your notaries and bills because as you and I know, there is some major risk in being a SS as there is with being a SA just bigger risks. I will still stand behind my fees because I can offer my closers volume work because we do our best to work with the same closers regularly. For example, one of our closers was paid $16,000+ from us last year. Another $10,000....It is hard to keep competitive these days with both the TC's and the SA...we're walking a fine line.

Reply by ME/NJ on 2/29/08 11:38am
Msg #237650

If that is what you offer, it's our choice to work for that

Not like you covered up something, It is always our choice who we work for and what fee we take. When lower price companies call they ask my fee and if they don't like it they will move on or sometimes say yes.

What I do hate is the can you do it for 5-10 dollars less.. NO this is my fee I think its fair and I have a bottom line to meet.

Sometimes when companies are in a bind they will meet your fee, but seems the lowball companies have found alot notaries in my area that will work for free. I don't get that many calls from them like I use too a year or so ago.

With childcare being an issue, I will not give away service unless one of my regulars ask me for a favor.

Reply by Cari on 2/29/08 11:53am
Msg #237653

herein lies the diff btwn SS and TC...the pay

Reply by ZeeCA on 2/29/08 11:58am
Msg #237657

when I ck'd your website the prices were higher ... huh? wh

at is correct?

Reply by SLB SIGNING SERVICES, INC. - Sherry on 2/29/08 12:06pm
Msg #237660

Re: when I ck'd your website the prices were higher ... huh? wh

There are 2 seperate places that show fees....the first is what we charge the TC and the second is what we pay the closer. Look under Agent Sign-up and that is where you find our pay....but to make it simple:

Single overnight - $75
Single edoc - $100
1st and 2nd overnight - $150
1st and 2nd edoc - $175

NOW...with that being said, we pay full fee for all rescissions, we pay a print, trip and time fee for ALL cancellations at the table and we do not hesitate on asking our clients for additional funds if there are travel expenses, extra printing, or any other circumstances that would justify a higher fee.

Reply by Roger_OH on 2/29/08 12:09pm
Msg #237661

Sherry is OK by me...

Don't have the opportunity to work with her very much, but on the occasions that I have she's
been as good as her word. One of the good SS, in my experience.

Reply by PAW on 2/29/08 1:44pm
Msg #237674

Re: when I ck'd your website the prices were higher ... huh?

If you pay $25 for edocs (assuming that's for one loan package), then your fee structure should be:

Single overnight - $75
Single edoc - $100 ($75+$25)
1st and 2nd overnight - $150 ($75 + $75)
1st and 2nd edoc - $200 ($75+$25 + $75+$25)

Just being nit-picky. Not too many 1st & 2nd loans anymore.

Reply by CaliNotary on 3/1/08 12:53am
Msg #237726

No it shouldn't

The fee for a single loan incorporates travel time. With a second loan the signing time is increased, the amount of printing is increased, but the travel time still remains the same. So it's perfectly reasonable to pay less for the second than you do for the first, especially since travel time usually is equal to or greater than the loan signing time.

Reply by PAW on 3/1/08 8:01am
Msg #237738

Re: No it shouldn't

Travel time is immaterial. Look at the fees for single overnight and piggy-back overnight. It's double. Therefore, the piggy-back edoc fee should be likewise doubled of the single edoc fee. The formula is not consistent between single and piggy-back.

If travel time was factored in, the the fee for a piggy-back overnight would not be double that of a single overnight.

Reply by Ronda Roaring on 2/29/08 7:19pm
Msg #237703

I would like to take you to task on that

When you hired me, I told you there was no early morning delivery at my office. I suggested e-docs. The docs were sent early morning delivery anyway. When they didn't come in time for the closing, you held it against ME and hired someone else. Despite the fact that I've billed you a kill fee twice, I've yet to be compensated for my time. I consider your behavior unethical.

Reply by Ronda Roaring on 2/29/08 7:21pm
Msg #237705

Sorry...

that's not a response to PAW but to SLB.

Reply by Ronda Roaring on 2/29/08 7:30pm
Msg #237706

In fact, that's not the whole story.

The closing had been resheduled twice with a borrower that wanted/needed a very specific closing time. The third time the docs didn't come on time. When they finally did come, I opened the package to find that the loan was not a straight refi as I had been told but a CEMA.

Reply by SLB SIGNING SERVICES, INC. - Sherry on 2/29/08 8:33pm
Msg #237711

RONDA - SLB FILE IN QUESTION

Ronda....I first off want to say that I feel something such as this might have been handled better in a direct email but since you threw it out there I feel obligated to defend myself. The Strohman loan which was supposed to close on 12/20/07 got cancelled BEFORE you got docs or even went to the closing. We do have emails back and forth with our client about your request to have docs emailed versus overnight but our client insisted on overnighting them (I will be happy to provide you with the actual correspondence between our client and my scheduler). According to our records.....This loan was cancelled on the evening of 12/19 by our client which we in turn emailed to you in which you replied "Received. Thanks. Ronda Roaring" and was never re-scheduled through us again. I have no record of 3 closing attempts on this. Nor was I aware that this was anything but a REFI because when our client placed this order he told us it was a refi. All of a sudden, I receive a bill from you via mail on 2/4/08 saying I owe you $43.35 for this loan. I emailed you that same day to ask why we were being charged this and I have yet to hear back from you.

I am just not getting why what I have in my records is so different from what you are saying unless you were contacted by another SS for this same loan or you were contacted directly by our client because we have nothing other than the original closing that was supposed to close on 12/20 and was cancelled on 12/19. If you could further explain, it would be greatly appreciated.

Reply by Ronda Roaring on 3/10/08 4:42pm
Msg #238741

Re: RONDA - SLB FILE IN QUESTION

I just wanted to update this thread in case someone taps into it in the future. After the posting above, I called Sherry to discuss the matter. She wasn't in and I left a message on her voicemail. She e-mailed me back saying she didn't want to discuss the matter. If Sherry thinks the closing was canceled, she is mistaken. The closing was conducted the next day by another notary according to the borrower.

Reply by BBuchler/CA on 2/29/08 1:12pm
Msg #237671

60 signings in 3 months

Do you plan to hold to that criteria with the state of the mortgage industry as is?

Reply by SLB SIGNING SERVICES, INC. - Sherry on 2/29/08 1:27pm
Msg #237673

Re: 60 signings in 3 months

We are flexible if you have the qualifications and fill out our online sign-up and impress us...LOL

Reply by Linda Spanski on 2/29/08 2:05pm
Msg #237676

Your website wouldn't let me

When I explored the SLB website I got neverending script error messages that wouldn't allow me to go to the agent signup area.

Reply by Margaret_FL on 2/29/08 7:44pm
Msg #237708

Re: Your website wouldn't let me

Yeah, me too. I just gave up when I kept getting script errors and I did not know if it went through or not. I probably did not meet the criteria for 60 closings in 3 months.

Reply by SueW/Tn on 2/29/08 7:51pm
Msg #237709

SLB is a great company to work for!

The entire staff is completely professional, they take care of any problems immediately AND you get paid quickly and accurately. Of course this is strictly my opinion only but I have nothing but kudos for Sherry and her company. I'm happy to see her posting here again and I don't think she can be faulted for her company requirements for SA's.