Posted by MagicLadyCA on 10/5/08 8:09pm
Msg #266438

E-Doc Pricing

What is everyone charging for e-docs? I have lost three signings in the last two weeks. They are signings that I accept, they then say they can only pay $65 or $75! When I tell them I charge $100, they say they "If I can get that approved, I will call you back." Then I never hear back. I can't imagne charging less than $100. You print 2 copies, drive up to 45 minutes, sometimes, spend another 45 minutes with the client, drive 45 minutes back, anothe 15 minutes or more depending on if you have to fax back 1/2 the package---and only get $65 or $75? My husband is a civil process server and makes $80 and more just handing an envelope to someone!!!

Thanks anyway, just venting...............

Reply by parkerc/ME on 10/5/08 9:06pm
Msg #266443

I won't walk out the door for e-docs less than $100 (unless it's a 4-6 pg mod). . . usually get more than that.

Reply by MagicLadyCA on 10/5/08 10:10pm
Msg #266465

Thanks, I am thinking there must be a local notary or two, undercutting prices. Too bad they don't realize they are hurting themselves as well as the rest of us....

Reply by Deanna Hopper on 10/6/08 9:35am
Msg #266481

Signing Agents Take Note!!

When you undercut each other, you make it worse for our profession! Do you honestly think that these signing companies are loyal to one signing agent?? No, they are not! No signing agent should walk out the door for a local area, email doc closing for less than $125.00. When you take everything into consideration and break it all down, if you go lower than $125.00 for local area closings, you are not making any money. In fact, you are actually paying the signing agency money to close their loan. Take the time to add up gas, paper, toner, drums, insurance, wear and tear on your car, office supplies and your time involved, in closing a loan and you will see the difference. Once you low ball yourself, it will be next to impossible to dig yourself out of the hole you dug.
There are more signing agencies out there, then there are signing agents. When the mortgage industry does turn around, and trust me, it will, they are going to need us more then we need them.
You are providing a professional service that deserves respect. By undercutting each other - you are stating - we are the lowest on the totem pole and don't deserve to make our fair wage. We are the backbone of the closing - without us... it doesn't close and no one wins. So, the next time you want to undercut another signing agent - remember you are undercutting yourself as well. Unless you like making below minimum wage, be the professional you are and don't low ball yourself - demand respect for your profession! Good luck and happy closings.

Reply by Les_CO on 10/6/08 10:22am
Msg #266488

Re: E-Doc Pricing/see #264566 n/m

Reply by parkerc/ME on 10/6/08 10:10am
Msg #266486

The responses to this posting confirms what I have suspected in reading it daily, although rarely posting to it. Attempts at responding to posters with the intend to try to help them seem to be met, at least 75% of the time, with catty remarks. I think that is why I am seeing only a limited number of regular posters here. And why I rarely post. Others are afraid to post because they feel they are subjecting themselves to an attack from all sides, no matter what they say. This does not apply to the really helpful, and respectful, responses from the few posters who obviously want to help, and provide invaluable information to all of us. (This is the "go to" site for that.) I have obtained a lot of good information and tips from this site, for the most part ignoring the naysayers and the muck. Just because we are posting to a general forum does not mean that we cannot show the same respect that we should if we were talking face to face. When I say I will not walk out the door for less than a certain amount, that's a determination I carefully made based on the area where I live. According to others, walking out the door for $100 fees is "low-balling it". Well, sunshine, not where I come from. The phone is not ringing off the hook even for as low as $100, so I'm sure there are lower fees out in this area. But I do not begrudge and would not badmouth those who take lower fees. Of course, I have not made the mistake of relying on this business as a primary source of income. To each their own, and each person has their own reasoning for their fees. That said, I know there will again be the naysayers coming back with at least 25-30 responses to this (I can pretty well bet on it!) that anyone who accepts $100 fees is low-baling it and hurting the profession. Don't think so. (With due respect.)

Reply by MistarellaFL on 10/6/08 10:19am
Msg #266487

"limited number of regular posters here"

Not necessarily.

I have limited my postings lately, due to the non-professional attitudes and behaviors of many new posters.
Each and every NSA who is accepting fees for full refis at less than $100-$125 IS hurting the field, no matter how many calls you are getting or not getting. This is no longer fulltime self-employment for many of us, and by accepting less than a minimum of $100, these folks are cheapening the profession for the rest of us.
And to top it off, we have new posters here who think it is OUR job to train them in the basic of basic notarial duties and responsibilities. I can't imagine "professionals" of any trade not knowing the basic duties/fees of their chosen profession.
JMHO

Reply by parkerc/ME on 10/6/08 10:36am
Msg #266491

Mistarella, you are one of the handful of informative, respectful posters that I always read. I agree that some of the questions from newbies indicate their lack of basic notary principles, which makes you wonder why in the world they are doing SA work, let alone notary work at all. But it also indicates that they have not received the proper training/education.. . which might indicate a failure in that state's notary commissioning process. And that SEARCH button(in the case of this original posting, for "Fees" or "Pricing" . . take note original poster) here is invaluable!! 'Nuff said by me on this subject.

Reply by MagicLadyCA on 10/6/08 11:36am
Msg #266495

You may have misunderstood my question. It should have been what are you charging for e-docs THESE DAYS. I have been a notary signing agent for over seven years, a notary public for 20 years and signing mortgage loan packages for as long. Over the last few years, I have watched the profession deteriorate (financially as well as professionally!) and was just venting in frustration. The SEARCH button isn't going to do much for that, now is it???

Reply by Les_CO on 10/6/08 6:30pm
Msg #266538

Re: E-Doc Pricing/Magic

You say you’ve been in this business a long time, then you should know that asking others on this board what they will accept as a signing fee is like “spiting in the wind”. Some here (like me) post our fees. Others ‘say’ that they charge title companies $ xxx and SS’s $ yyy. Almost ALL lie (in my opinion!) You just won’t see anyone admitting that they accept a $50 fee when they can’t get anything else. But WHY then are there so many, many $50- 60-70-80 companies out there operating EVERY DAY. Some for years?
Me? I charge the same to either a SS or a Title Co. My fees depend on many things...first is history…second is distance…third is time of day. Yes, I’ll turn down a low ball offer even if I have nothing else. So I guess my fourth is principal…I refuse to work at a loss. Many of the ‘regular’ posters here (again IMO) are not now really doing signings for a living…they have other jobs..or are part time…or are ‘retired’ (but still working) like me. And I really think LOCATION has a great deal to do with fees charged/accepted.
I just did a one page affidavit in a Nursing Home for $25….(maybe a break even deal) a ‘rate reduction’ refi 80 pages edoc for MIS less than 5 miles for $125. A two page affidavit medical records in a MD office $50..the last one took 20 minutes total, and was the best deal of all for me…but with the average national wage at almost $20 an hour… I don’t do very well on most e-doc refi’s, considering time, equipment, gas, supplies etc. My answer…charge what you want….but consider the consequences. And asking what others charge is a waste of time.

Reply by MichiganAl on 10/6/08 12:02pm
Msg #266498

A limited number of posters

That's a myth that people love to spew when they don't like an answer. In the last 24 hours we've had posts from:

parkerc
rachel nj
charm
mistrella
joanne
negrete
david k
notary guy
stamper
donna labelle
john norcal
magic lady
deanna
les
anna
me/nj
pa notary II
lkt
linda h
patricia manatt
alice
linda j
calinotary
desktopfull
regina
claudine
janet lopez
maureen nh
linda p
sondee
101livescan
jameslee
brendatx
gloria gebbia
michelle chacon
andrea sim
andrea carson
gloria gebbia
marilyn coppola
ml/pa
nolan notary
msflorida
jba/fl
hugh nations
paw
michigan al
bobbi ct
michelle/al
cari d
lkarrowhd
lisaFL
shoshana roller

And yesterday wasn't even a business day, it was a Sunday.

Reply by goodgirl on 10/6/08 2:25pm
Msg #266511

Here's my 2 cents, and I am not new by any means...
I see the whole NSA business going in this direction: The new notaries who are taking these signings for $40, $50, $65, $75, etc. have ruined the business for everyone who has tried to make a decent living at this profession.
IF (and that's the big operative word here) we see that this "bailout" helps the loan situation, and I really think it's a dead, done deal - at least in my lifetime - all these low ball companies who found people to work for them for $40 to $75, will continue to offer these paltry fees because they were able to find people who would take these fees. IF this loan crisis situation resolves, the companies are going to figure "Gee... I was getting $400 (TC) or $180 (SS) to process this loan, and I found willing NSAs for $50. Now that I'm back to getting $600 (TC) or ($250) to process this loan, why should I go back to paying MO MONEY for an NSA! I can still use the people who worked for $50 and my bottom line will be higher!! Yee Ha!!"
The NSA will still be at the bottom of the foodchain.

Reply by MagicLadyCA on 10/6/08 9:23pm
Msg #266558

Unfortunately, goodgirl, I agree with you....