Posted by Rhonda Skansi on 7/15/08 10:09am
Msg #255216

$65 overnight/$90 edocs

is what one of my competitors pm'd me that he is charging. Ugh!

Reply by MW/VA on 7/15/08 10:27am
Msg #255222

Unfortunately, that is NNA's suggested "minimum" fee basis. Sorry to say that NREIS uses that guideline, and it is all they will pay. I'm also finding that the market conditions are having quite an impact on fees. Many tc's are only willing to pay $125 (used to get $150/$175).

Reply by Linda_H/FL on 7/15/08 10:56am
Msg #255224

This is the part I do not get...

"I'm also finding that the market conditions are having quite an impact on fees. Many tc's are only willing to pay $125 (used to get $150/$175). "

These fees come out of borrowers' funds...borrowers are paying title....why is it WE have to take the hit!!

Almost adds fuel to the argument of us getting paid by the borrowers at the table....

Reply by Karla/WA on 7/15/08 11:04am
Msg #255226

Re: This is the part I do not get...

I had a signing where the title company asked the borrower to come to the table with a check....and they did. The borrower was a dentist, so I didn't have an issue with cash flow, but I would be concerned in the event the borrower's check bounces....then I would go back to the title company. It was actually refreshing that I had funds to me on that night....not 45 days later!

Reply by Rhonda Skansi on 7/15/08 11:17am
Msg #255228

Re: This is the part I do not get...

last month signing service said to me "$90 is the most that we can pay, so I reluctantly said "ok" since it was pretty close. Of course, I noticed on the settlement statement that the signing service fee was $250. Of course, I haven't gotten a check yet either.

Reply by Rhonda Skansi on 7/15/08 11:20am
Msg #255229

excuse the failure of correct punctuation last post n/m

Reply by Jack Tri on 7/15/08 12:54pm
Msg #255237

Re: This is the part I do not get...

SAD But true......signing company is getting 250.00 for alot of signings and only paying notary 90.00 dollars...and the bad signing co. keeps it all you get nothing.some signing companies like bankserv they get 150 for edocs but want the notary to do edocs for 80.00. overnight bankserv wants you to do them for 50.00 then they charge 90.00...Signing companies can do anything they want as long as they have low ball notaries working for them..i have seen alot of notaries are dropping out.and new to be notaries are not signing up for class..

Reply by Doug Beaver on 7/15/08 2:01pm
Msg #255240

Re: This is the part I do not get...

Yep, Do not take the signing if the fee's are to low. I just tell them I am not available. Let's see where this market goes.

Reply by PAW on 7/15/08 2:11pm
Msg #255242

Re: This is the part I do not get...

Simply telling them "you're not available" isn't going to influence them one bit. However, if you, and others, tell them you cannot accept the assignment because the fee offered is below your set fee, then they may eventually get the hint.

Reply by SoCal Signing Co. on 7/15/08 2:31pm
Msg #255251

Re: This is the part I do not get...

Sometimes settlement statements are reflective of what is really paid, I have a client who puts $250.00 on the notary line, but will only pay me $200.00
so dont always believe the company is getting that fee

Reply by MW/VA on 7/15/08 2:37pm
Msg #255254

Re: This is the part I do not get...

The real burn on this is that the settlement costs to the borrowers aren't less. They are cutting from the bottom again.

Reply by Calnotary on 7/15/08 2:38pm
Msg #255255

Sorry Lisa but your company called me with 85.00edoc fee.

I had to refuse.

Reply by Teresa/FL on 7/15/08 5:06pm
Msg #255277

Re: This is the part I do not get...

I know a TC that showed $200 being paid to the SS but they actually paid them $225. They kicked in $25 from their Settlement Fee (line 1101). It's been a couple of years since I've done a closing for this particular SS, so I'm not sure if this is still the case.

Reply by MonicaFL on 7/15/08 9:50pm
Msg #255321

I received an e-mail yesterday from New Millenium Title stating that they no longer could pay $125.00 for an e-doc closing - that they were having to reduce the notary fee to $115.00 for that and they were reducing the o/n docs fee to $75.00.