Posted by Deborah Lewellen on 8/3/09 3:50pm
Msg #298506

Equity National of RI has joined Valu Net

I can't believe it, and am not happy about this at all, this is more money out of my pocket and more hassle, I do many many jobs a month for Equity, but now that they have Valu Net, I'm afraid I've lost my opportunity to work with them, what a drag.

Reply by BrendaTx on 8/3/09 3:56pm
Msg #298507

I'm still not clear why everyone has a problem with

ValuNet.

Reply by Joan_OH on 8/3/09 4:28pm
Msg #298512

Primarily because

they want my credit card number so they can charge me $4.50 to download documents - a fee that should be absorbed by everyone else or anyone else except me.

Joan-OH

Reply by Jones - Chelley on 8/3/09 4:32pm
Msg #298514

Re: Primarily because

Ask them to increase your fee by $5.00...you will have to pay it up front but then...you get it back. Also, when using Value Net...my agents are getting a wal-mart card with a limit you can set (visa)...that way you can keep track of the transactions.

Reply by LynnNC on 8/3/09 4:03pm
Msg #298508

What is Valu Net?

I Googled and didn't find anything.

Reply by BrendaTx on 8/3/09 4:18pm
Msg #298509

Re: What is Valu Net?

http://www.valuamerica.com/

Reply by BrendaTx on 8/3/09 4:24pm
Msg #298511

See Msg #291992 and thread following it.

I think notaries are missing a good opportunity to avoid working for signing services and get more work direct...that's just the way I see it. An SS takes out $25-$75 from the full closing fee and pays you whatever you'll settle for. ValuNet is going to charge you $4.50 to use their plat form to find work but ONLY WHEN YOU WORK.

Eventually, title companies will give up and give it back to signing services because notaries can't get their past their perception that they are "paying" $4.50 for a "chance" to work. That's not it at all. It's paying for utilizing a direct platform to receive work but ONLY WHEN you get a job through it.

I have no dog in this hunt but I think notaries are shooting themselves in the foot if they will not open their minds to this.

Reply by CF on 8/3/09 4:29pm
Msg #298513

I do not get the problem either???

Lets see make $0 or accept an assignment with a $4.50 service that could/ would be considered tax deductible.

Most of the companies using this service pay well....these are well over $100.00 orders. Not too sure....but I hope that a lot of Notaries in my area have an issue....b/c I will accept these order all day long!!!!

Reply by Deborah Lewellen on 8/3/09 4:34pm
Msg #298516

Re: See Msg #291992 and thread following it.

when I signed up for them a few yrs. ago, I think I got 2-3 closings from them all together, though their claim was I'd be getting alot of work from them, here's where the problem came in, and maybe I'm the only one it happened to, they called me for a few other jobs over the next few months and lowballed me for some $65 fee and to print docs with it for that as well as I'm going to pay them the $4.50, well these bright people charged my credit card, even though I politely and respectfully told them my flat rate fee for driving 100 miles roundtrip and printing docs. of course I never got the job. It took 2-3 months to get them to refund me the money, by check yet.
I'll sign up with them, because I'm a business person and I don't turn down work unless they lowball me for some ridiculous fee.
I just see problems written all over this and more problems mean more aggravation.
I jump thru the hoops all the time, doesn't mean I'm happy about some of them, BancServ just emailed me this morning with the "new" reverse mortgage test, ok. ok, I took the first one and passed fine, I know this stuff, I didn't study for it, well now, we have to re-take the test again, and I'll do it again. As if I'm not busy enough with work, and yes I do have a life out side of this business. I feel we constantly have to prove our worth and value to a system that at times disrespects us and insults us with lowball fees.

Reply by Jones - Chelley on 8/3/09 4:42pm
Msg #298519

Re: See Msg #291992 and thread following it.

With Value Net...we, the title company have complete control over the fee...if someone under paid you...it was not value net...it was the title company. I have a base fee and I adjust it accordingly...adding the $5 to the base rate to cover the $4.50 fee. Why did it take you a few months to figure out someone was lying to you? Bottom line, you do the work, you agreed on a fee...you should get paid in a timely manner...if someone doesn't own up to their promise...don't accept another closing from them.

Reply by BrendaTx on 8/3/09 5:53pm
Msg #298530

Re: See Msg #291992 and thread following it.

*if someone under paid you...it was not value net...it was the title company. *

I think what people do not realize is that "ValuNet" is not the hiring entity. It is an onlilne platform for interchanging information and hiring/or/agreeing to work for someone. $4.50 is what you pay ONLY WHEN you get a job.

I think the reason many are silent on this is because they hope that the majority of notaries will not get on board. Just a guess. Like CF they hope that others will miss the opportunity.

However, I am hopeful that this will be a wave of the near future to allow work exchanges to take place without the interaction of a signing service all the time.

I don't know anyone at ValueNet, but I have read the website and I also know that there exists another similar platform called RealEC.com which operates in a similar fashion but I don't know if it has been successful or not.

It's a means for parties to connect. Then, if you get work through that means, you pay. If you don't get work, you don't pay.

Reply by Dennis Sullivan on 8/3/09 8:44pm
Msg #298569

Re: See Msg #291992 and thread following it.

Brenda, am I missing something? If RealEC.com is the future we are all out of business.

I copied this from their web site.
"The RealEC WEC service enables the closing agent to send an electronic meeting invitation to the borrower for the closing event, as well as deliver an electronic version of the agent's Limited Power of Attorney (LPOA) document for the borrower to sign, have notarized and return to the closing agent prior to closing.

During a borrower's online session they complete a rigorous, secure authentication process that exceeds those used by most online transaction Web sites. The in-wallet and out-of-wallet security questions are drawn from the borrower's personal data, and the answers are relevant only to the borrower.

At the scheduled closing time, the borrower securely logs into the RealEC-hosted web site and dials a toll-free number to connect with a representative from the closing provider managing the closing process. Using RealEC's online meeting application, the closing representative thoroughly covers each loan document to ensure that the borrower understands all of the details."

It looks like we will be notarizing a POA-only.

Reply by BrendaTx on 8/3/09 11:42pm
Msg #298591

Re: See Msg #291992 and thread following it.

*It looks like we will be notarizing a POA-only.*

You apparently read the page "Introducing the next big innovation in electronic partner collaboration: Web-Enabled Closing."

There's nothing new about web enabled closings where a POA is signed. This is only another venue for it. Stewart Title also does this.

Their web exchange program (RealEC Exchange) is what I am talking about at this link.

http://realec.com/listServices.asp?type=24&Title=Document%20Signing%20Services

BTW, I'm not promoting this site. I just said it was another exchange type of site on the web.

It's been around for five or six years.

Reply by Jones - Chelley on 8/3/09 4:38pm
Msg #298517

Re: See Msg #291992 and thread following it.

You said it! I think the problem is, so many of you good folks have been used and abused and anything like this just sounds like trouble. There are still some good folks out there guys...we use value net...not a fan of my notaries being charged...but we add the fee to the base fee. Give this company the benefit of the doubt...if it proves to be a bad choice...you can always have value net remove your name. Don't forget...use a credit card with a limit only you can set...again...a visa from wal-mart. By the way...thanks Brenda...you are so wise in your opinions...you helped me out with this very same issue...thanks for believing in us. There are some good guys left!

Reply by MW/VA on 8/3/09 5:45pm
Msg #298528

I got the email also. Equity is a really good client of mine, and I don't intent to lose that work.
It's a new one to me to pay a doc fee to a company that they have chosen to use. I was completing the sign-up, but stopped at the part requesting a credit card. I wasn't sure how to handle that, and knew I could get some info here or call Equity (it's after-hours now). They are also offering to pay via direct deposit. That's a first. I had no experience with the ValuNet system, so I don't really know what it's all about. Equity also included an 8-page Service Level Agreement, which includes performance evaluations on every signing. I'm used to their requirement for service, so I don't think I have any issues with that. I think this all seems a bit over the top from my point of view, but I'm not handling the volume that Equity is dealing with.
I'd like to hear more comments from those who have used the ValuNet system.

Reply by MW/VA on 8/3/09 6:34pm
Msg #298545

Ok, so I searched & read 291992. It makes no sense to me whatsoever to pay ValuNet a fee for a company I've already worked for. They're not doing anything for me.

Reply by JanetLA on 8/3/09 8:27pm
Msg #298566

Equity is a good company to work for and I don't mind paying

the fee up front and having my fee from Equity increased by $5. It is totally worth it to know the company and the people that hire you. No brainer for me. They are a good company, and I know that I will be paid.

Reply by MW/VA on 8/4/09 10:29am
Msg #298638

Re: Equity is a good company to work for and I don't mind paying

I had a nice conversation of Julia @ Equity today. She answered all my questions. I've completed my registration & was advised to increase my fee to cover the cost. Equity is such a great company!