Posted by tinkie on 1/18/08 12:01pm
Msg #231242

Title Companies Only

I HAVE DONE MY LAST SIGNING FOR A SIGNING SERVICE!!
They get paid quickly from the title co., and then drag out the little notary as long as possible. Then when you inquire after 2 months where your "SMALL" check is,.... (they get paid $250 and they want to pay us $50-$75), .......THEN they tell you they need your W-9. Then you finally get an email saying it will be processed and you will receive a check in about 2 weeks! Phew!
By that time bills are past due and you don't have the money for ink and gas to go work another 4 hours for another poor little $75 signing that you may or may not get paid for.

Title companies have no problem whatsoever with my $175-$225 closing fees, AND I get paid within 2 weeks with a "title company check", not some mom and pop check that you hope will clear the bank.

Wise up folks.

Reply by WDMD on 1/18/08 12:22pm
Msg #231247

TransUnion has been playing the we need this, we need that game for a couple of months with me. Last e-mail from them they told me to be patient, they only have 2 people in accounting for 20,000 vendors. LOL yeah right.

Reply by tinkie on 1/18/08 12:30pm
Msg #231250

Well, a signing service told me yesterday that they only discuss paying invoices on Fridays. So. I patted my foot until this morning and then they told me the accounting crew was not in today. Sounds like another "I'll just keep this check until he squeals a little louder.

I distinctly remember the cold, dark, late night I went on this BS closing for these folks and I'm sorry, but discussing payment on Fridays only with hardly any hope of getting paid by this signing service sucks!

Reply by Sylvia_FL on 1/18/08 12:35pm
Msg #231253

Tinkie
Don't give up on signing companies. There are good ones out there.

Reply by docs1954CA on 1/18/08 12:35pm
Msg #231255

Please tell us who these people are... n/m

Reply by ericashaw on 1/18/08 12:35pm
Msg #231254

maybe I am way off here

One thing I have always wondered about all of you who complain about not getting paid fast: if you do a steady stream of closings, you work for a company who will pay, why does it matter how fast they pay? We have a constant stream of checks coming in and I don't care how long it takes( within reason) as long as I know I am going to get paid. If you are counting the money as being there in two weeks while doing the signing, IMHO you are in the wrong business and running too tight. There are a lot of companies out there who will pay, it just takes 45-60 days but they always do pay. Once you have the initial 60 days out of the way, you always have checks coming in. I guess I am ready for the verbal abuse I am sure is to follow for going against the grain with you all.

We all like being paid 5 days after the closing but does it really matter that much?

Reply by docs1954CA on 1/18/08 12:38pm
Msg #231258

Here's why it matters..

Because they're paid upon funding...waiting 60 days gives them too much time to get out of town and cover their tracks....

Reply by Philip Johnson on 1/18/08 12:43pm
Msg #231261

Has your check from EFS made it to you?

30 days is good enough for my utility providers, so that's the schedule I use. I start calling and faxing at that the 30 day point, so it doesn't slip their mind.

Reply by WDMD on 1/18/08 12:53pm
Msg #231264

Re: maybe I am way off here

ericashaw states:"One thing I have always wondered about all of you who complain about not getting paid fast"

Lets see, Tinkie mentioned "when you inquire after 2 months", and I stated "after a couple of months", even though it has been longer. Who complained about fast? 2 months or a couple of months is not fast.

Reply by Bob_Chicago on 1/18/08 12:54pm
Msg #231265

My thoughts exactly, BUT.....

I remember a college buddy who was a "trust fund baby"
He used o say tha "money is not that important to me"
Of course, not, it was available as he needed it. For common folk,
however, you need a steady stream of the stuff to live.
Sylvia is correct that most or the SSs are honorable and honor their
commitments in a timely manner. The bad apples, howvever , make it
very difficult for those who count on funds comming in as expected.
By saying that one will not work for SSs, is detremental to running
a business that is difficult enough as it is. It is a matter of research AND luck.
As I have often said. "You have a 100% chance of not getting for for a job
that you turn down becuase you think that you may not be paid for in full ( or
in a short period of time and/or without hassle. An art AND a science.
Guessing right results in a happy NSA.
Good luck to all

Reply by tinkie on 1/18/08 1:04pm
Msg #231268

Bottom line is this folks: The title companies make a fortune for a closing. Usually about $1800. Then when they give it to a SS, the SS's get about $250 to sit on their rears and farm out a tough job to the little mobile notary for $50-$75. If they could get it cheaper, they would. Then they pay when they ABSOLUTELY have to, after we have done all that hoop jumping and fax back crap, treating us like a bunch of elementary school children. THEN, if we beg enuff, they will send us a few scraps to keep us doing the next one.

Get a few big title companies and tell them your fee is $200-225 and negotiate down a little if you have to. You'll get paid for what you do and your time,,,.....IN TIME!

You can't make a living doing closings for $50-$75, and it just drags the rest of us down if you accept them. Put your expenses to a $75 closing and see what you are really left with.

Reply by Negrete on 1/18/08 1:34pm
Msg #231276

I hope that you folks consider our Co ( Negrete's Notary Service Inc. ) one of the better SSs out there.

Anthony J Negrete
Negrete's Notary Service Inc.

Reply by Carmi/CA on 1/18/08 2:41pm
Msg #231293

Hello Tony,

I am in your database but have not had the chance of doing business with your company. I do hope that I hear from you soon.

Carmi

Reply by BytheX/MO/KS on 1/20/08 2:11pm
Msg #231544

I have had the pleasure of working for your company and yes, you are one of the good ones. It is also nice to have the boss who actually calls and checks in on people too. I happily accept your jobs. I hope your business is going well and you can get more business from the SS's who are not as honest and capable as you are.
Sherri

Reply by Les_CO on 1/18/08 2:47pm
Msg #231297

Hi ‘Twinkie’ (good name)
I agree with most of what you’ve said. However in today’s market I think your estimation of what a SS gets is about 100% high. (try $125) And EVERY title company today is trying to get these fees reduced as much as they can. Some SS really do provide a service to the notary, (getting them jobs, which they may not have the time or expertise to find themselves) and help the small (8-10 people) title companies do business. And these honest SS’s have expenses, (web sites, schedulers, toll free phones, etc.) Understand I’m referring to those LEGITIMATE Signing Services out there. NOT the deadbeats and cooks. The really big title companies First American, LFC, Etc. have their own ‘in house’ signing dept set up (like FASS) You are hardly going to get what you want money wise from them. (look for $50) Times have changed. I suggest you just work for title companies (make sure they are solvent, because many have recently gone belly up, and not paid their notaries) or work for the occasional SS (if asked) that has a good reputation.

Reply by Carmen/123 on 1/18/08 1:59pm
Msg #231282

I have been saying and doing this this for years now!!!

C

Reply by MistarellaFL on 1/18/08 2:07pm
Msg #231284

Ditto that Carmen. n/m

Reply by janCA on 1/18/08 2:54pm
Msg #231300

I would not discount ALL SS's and I've been burned just this past year by quite a few. We all know that Negrete's is a great SS and Tony is one great guy. I've worked with Pier also and they've always been easy to work with. And there are several others. We all know it's ideal to work directly with the title company or the lender and I've got many that I've worked with for years, and we can just say no to any SS whom we feel will not follow through or does not offer a decent and fair fee. I would not generalize and say all SS's are bad because they are not.

Reply by ME/NJ on 1/18/08 2:43pm
Msg #231295

I work with a handful of SSs and screen the ones I have not n/m

Reply by tinkie on 1/18/08 3:09pm
Msg #231305

I never said all SS's were bad

I only said I will do a closing for $200-$225. Or reduced a little if need be. But thats what its worth. If folks want to run all over creation for $50-$75 a deal, thats their business. SS's won't pay my fee, and are a pain to get your money out of if you can.

The other problem, is that if people continue to do closings for practically nothing, its hurts those of us who are trying to keep our fees respectable, so we can eat and pay bills. But as long as someone is willing to work for peanuts, the prices will stay where they are or even keep spiraling downward......

You have to learn how to quote a price for your service and stick to it. The low ballers will leave you alone after a while, and go get other suckers to do it.