Posted by John Schenk on 12/11/09 9:32pm
Msg #314063

"May" do my first Esigning...

Not sure about doing this. Not sure I'm ready to move into that yet. Did the search thing, and good info, but I'm not sure I'm ready to move into that state of signing yet. I LIKE shufflin papers! I'm comfortable with that. Don't really know how to charge for it, and not sure I want to do it for the company that contacted me to do it, although I just did a first closing for them a couple days ago. When you decide to make that leap? Don't know if it's worth it for me yet. I can see that first one taking forever, although they say it's only 30 pages.

It's the thing to come, but not sure I want to go there yet.

JJ :-(

Reply by Michelle/AL on 12/11/09 9:49pm
Msg #314068

I say, "jump". Add at least $20 to your normal edoc

fee. There will still be papers for you to shuffle. I think I've been doing 'em for one year now. I find that Borrowers (at leasy those who are computer savvy) enjoy the online docs. So..they're happy, and of course that makes me very happy.

I'm competitive by nature (and to a fault). I wanted to be among the first in my area to do e-signings. There still isn't a lot of volume but at least I got introduced to it early. And it definitely benefited me financially. I'm still mourning the death of AmTrust. That was the source of my eSigns.

"Run, Forrest, Run".

Reply by John Schenk on 12/12/09 12:32am
Msg #314074

Re: I say, "jump". Add at least $20 to your normal edoc

Thanks for the input! Not sure about this, and haven't accepted it yet. Thought I would get the advice of my fiends first. I'm 90% blow this off, but ...don't know....just don't really want to make this step yet, if that makes sense????

JJ :-(

Reply by Teresa/FL on 12/12/09 7:49am
Msg #314096

John, is this a Flagstar eSign using the Fiserv platform?

If, so I would definately add to your fee instead of discounting it as most SS expect.

Although it is true that there are less pages to print and sign, the process of clicking on each individual document is time consuming and adds to your total time spent at the signing.

IMO, AmTrust eSigns are much easier and I don't charge extra for them (but don't discount either). AmTrust may not be dead yet, so I haven't given up on seeing more business from them eventually.

Reply by Frank/NC on 12/12/09 9:30am
Msg #314105

My sentiments are the same. I've done a couple of them and am not comfortable with them. Hope this business doesn't go there but, if so, we have to adapt. The e-signings I have done are only partially e-signs and the rest of the docs printed out, Why not print everything?

Reply by Luckydog on 12/12/09 10:55am
Msg #314114

http://members.usnotaries.net/news.asp?AssetID=511

Click on this link.. from the American Association of Notaries. You may find this interesting. They are recommending NOT doing them now because you will not get your investment back, and each title. co. uses a diffrent platform and software to invest in. Not only do you need to invest in your notary commission, but your electric stamp, and everything else that is required.
The work is not enough to support the investment, bottom line. I have never been asked to do any yet, nor do I want to until I really have to. EVERYONE is more comfortable the old way, and especially the buyers not familar with computers and discs at the end of the closings vs the printed package.

Reply by Linda_H/FL on 12/12/09 11:06am
Msg #314115

Although I agree for the most part about holding off

I have to disagree with the statement "Not only do you need to invest in your notary commission, but your electric stamp"

"Electric stamp" (e-notarizations) probably doesn't come into play, especially on the recordable docs if the particular recorder's office is not equipped to accept e-recordings - docs to be recorded will need to be printed and wet signatures obtained. E-stamp isn't required as all docs to be notarized can also be printed out and wet signatures obtained - but I suppose if the state has adopted e-notarization guidelines it can be handy....my point being e-notarizations are a nice added-value but not mandatory to doing e-signings..

I, personally, have never been asked if I can do these - so I'm not investing in it yet. I would if the market was there for me in my area but so far, it's not.

Reply by Linda_H/FL on 12/12/09 11:08am
Msg #314116

And need to add...(as usual..<G>)

One request does not consitute market to me....

Reply by Jim/AL on 12/12/09 11:20am
Msg #314118

He said Esigning...not e notarization and AmTrust is still

alive and well. I did an AmTrust esign this past Thursday and have done them for four years, they are still in business, bought out by someone...was posted here.

Take it John, good experience and a piece of cake.

Reply by Linda_H/FL on 12/12/09 12:11pm
Msg #314123

Not alive and well, Jim....

My understanding of AmTrust is Flagstar is going to close the ones in the pipeline and then that's it - they're all Flagstar after that..unless something new came up since last weekend.

Reply by Jim/AL on 12/12/09 1:20pm
Msg #314131

Your post 313244 said otherwise Linda?

As I said I just did an AmTrust esign closing Thursday. The article you posted said still in business or did I misread your post? I am confused somehow, not a first though, lol.

Reply by Linda_H/FL on 12/12/09 3:16pm
Msg #314147

The article I saw (and I believe posted) said they

re-opened Saturday (by Flagstar)....I think it's been posted since that Flagstar is only going to finish the AmTrust ones in the pipeline and that's it - IOW no new AmTrust business....

Only repeating what I read/heard....everchanging volatile situation...<G>

Reply by BrendaTx on 12/12/09 2:48pm
Msg #314143

E-signings are different that E-notarizations

Different article: Profit from Electronic Loan Signings?
http://members.usnotaries.net/news.asp?AssetID=494

Yes, the technology is coming, but the wave of electronic signings that was first touted has yet to become reality.

Reply by John Schenk on 12/12/09 3:24pm
Msg #314149

Thank you for all the input!!!!

I may have mis-spoken when I said Esigning as I don't the difference yet in an Esigning and an Enotarization. All they told me was that I would print out part of the docs and then there would be about another 30 pages that would have to be done on the borrower's computer so evidently no extra software needed....at least that was my "understanding." Obviously I need to ask some more questions, which I figured I needed to do as I really have no clue about this. Don't know who the lender is. No doubt it's all different, just like loan packages are. Some get it done in 90 pages while others take 160 to get the same result. Comes at a really bad time of the year for me as I really can't afford to blow several hours messin around with a loan closing. Probably best if I just pass on this one. Wouldn't mind trying it after the first of the year but the timing to undertake this new endeavor really sucks.

Booked 2 signings for today yesterday and both canceled before I went to bed. 1 is back on now, but borrowers not answering the phones. Bot a bad feeling about that one. The NBS was the one that put the brakes on it yesterday. I'm sure not printing docs until they call me back, and even when they call me I'm going to walk in that house with a feeling that this isn't going to close. Hopefully they surprise me. Guess I'll know soon.

Thanks again for all the input! Very much appreciated!!! Hope you're all having a super weekend!

JJ

Reply by BrendaTx on 12/12/09 3:36pm
Msg #314151

Re: Thank you for all the input!!!!

John: You were asked to do an E Signing. That would not require an E Notarization.

I understand your confusion between the two. I only learned the difference between the two recently. I just didn't want to be bothered with understanding the difference. From the looks of things, it's really not that important to know a lot about the difference. Both are scarcer than a hen's teeth for the majority of us.

Reply by John Schenk on 12/12/09 3:56pm
Msg #314155

Re: Thank you for all the input!!!!

LMAO Well, this is the first call on one for me so if I turn it down I guess it's ain't gonna hurt much, huh? LOL If I take it, sounds like a minimum $200.00 fee to me. If I'm gonna have to learn it, they're gonna have to pay for my schoolin or I'll go about my other business. LOL

Well, that signing that canceled yesterday for today just canceled AGAIN for today. It was on at 2:00 and now it's off again. Really screwed up my afternoon. Cut the Graduation lunch with my daughter short to do this one. I KNEW my gut feeling was right on this one. Better than printing and getting out there and then them not signing though so I guess you count your blessings. UGGHHH

JJ

Reply by Todd/OH on 12/13/09 9:22am
Msg #314179

You need to be comfortable first

John, If you're on-the-fence this long, step back and re-think it.

The e-signing concept is still new. AmTrust was an excellent source for e-signings and they would have been good practice for you. However, they've had one foot in the grave for several years.