Posted by C. Wayne Moore on 6/11/09 4:18pm
Msg #292025

Nations Direct

I just received a call! Are you available for a Loan Mod on Saturday? We pay $30.00. Me - My fee is $xxx. Response - Thank You! A first for me. I am sure in our saturated area someone will do it for them. Not me.

Reply by NewPhoenix on 6/11/09 4:35pm
Msg #292030

Nations Direct

I got a call from them yesterday for a good way north of my area. Just a few pages and only one needs to be Notarized". For a $30 Fee! I said no. "Do you want to sign up with our service if I send you the file?". Ok I'll look at it.

Then I REALLY got a laugh! Their Fee for a full refinance WITH edocs is $40! I thought $60 was bad. Are there really a large number of newbies/clueless out there doing these for ND for $40?

I don't go under three digits unless I can see the house from my front porch and I REALLY have nothing else to do that whole entire day. Are "we" becoming obsolete? (those of us who stick to our fees)

Reply by CaliNotary on 6/11/09 4:36pm
Msg #292031

Most loan mods take under 10 minutes. How on earth can you justify a fee of over $100 for that?

Reply by C. Wayne Moore on 6/11/09 4:38pm
Msg #292032

He could not tell me how many pages etc or anything about the loan mod. I asked many questions but no answers. How can u justify accepting a job in the blind?

Reply by CaliNotary on 6/11/09 4:48pm
Msg #292037

Easy

I know what a typical loan mod consists of. If it were within 5 minutes of my house I'd even do it for $30 since I know I'd be back in less than a half hour. If there was a bit of actual travel involved I'd do it for $50 or $60, and I wouldn't bother accepting anything over 15 miles away.

If it turned out to be an atypical package of 75 pages or something, then I'd call the company back and tell them I couldn't do it without a fee renegotiation. But in all likelihood, it's gonna have 10-15 pages, one or two signatures from the borrower, and one notarization. And that little work simply doesn't warrant a $xxx fee.

Reply by C. Wayne Moore on 6/11/09 4:53pm
Msg #292040

Re: Easy

I hear you! But he could not give me any information. Size of pkg, distance, etc. Being advanced in years I do know that when you assume you... Ah! we all not that one.

Reply by CaliNotary on 6/11/09 4:59pm
Msg #292048

Re: Easy

OK, if he couldn't even give you the distance or address or zip code, that's another matter. That's much more important than the number of pages.

Reply by Anthony P. Wilmore on 6/12/09 8:48am
Msg #292151

Re: Easy

When told what they pay usually 50 bucks I'll counter with my charge. Usually they ask for an approval and call back. In my area, New Orleans, Nations Direct have also started to send the documents to FedEx Kinko's to be printed instead of to the Notary. I have declined doing these. I own two printers. I usually have to go out of my way to the Fedex Store, wait in line all the while potentially compromizeing my borrower's information. This is their way of lowering or justifying their lower fees to the notary.

Reply by GinnySac on 6/11/09 4:49pm
Msg #292038

I got a call this afternoon on a purchase. The company asked me to do a signing (e-docs) at her residence for 75.00? I told her "lady, I don't do signings for 75.00. My standard fee is one hundred twenty five plus the fee for e-docs". The lady was shocked and said that they didn't want to pay for that. I mean, people come on...!!! You call me 2 hours before, expect me to prepare all the docs and drive 5 miles which takes about 25-30 minutes to travel due to congestion and just want to pay me 75.00? GET REAL!!!

Reply by CopperheadVA on 6/11/09 4:59pm
Msg #292046

Yeah, I hear you! See my post below about Noble Signings - they wanted to pay $85 for an e-sign that was 20 - 25 miles away from me!

Reply by GinnySac on 6/11/09 5:01pm
Msg #292049

I read it, I had to pick up my jaw from the floor.

Reply by DD/OR on 6/13/09 8:16pm
Msg #292276

I beg your pardon. Modifications take way more than 10 minutes. Modification docs can take anywhere from 1/2 hour to 1 and 1/2 hours. I have done quite a few and they have taken approximately 1 to 2 hours. I charge close to $100.00.

Reply by Linda_H/FL on 6/14/09 7:49am
Msg #292284

Re: Nations Direct...DD

The actual FINAL modification itself should not take over half an hour, IMO - and depending on location (distance to travel), $100 is way too high a fee...I think you're mixing this up with the application.

JMO

Reply by jba/fl on 6/11/09 4:43pm
Msg #292034

I won't either Wayne...promise! LOL n/m

Reply by C. Wayne Moore on 6/11/09 4:56pm
Msg #292043

Thanks Julie! Your the one! Go Magic! n/m

Reply by CopperheadVA on 6/11/09 4:55pm
Msg #292041

I had an offer today for a loan mod for $25 (this was an actual modification agreement, not an application). It was at least a 15 - 20 minute drive each way. I told her no thanks. I would probably do it had it been right in my neighborhood, but I can make at least that much with private notary jobs where I meet people at my local Starbucks.

It comes to a point where it's not worth tying yourself up for 45 minutes to an hour (depending on drive time) when you likely will get a much better paying offer for the same time slot, which I did.

Reply by CopperheadVA on 6/11/09 4:57pm
Msg #292045

Meant to add that my offer was from a different company - not Nations Direct.

Reply by Kay/IL on 6/11/09 5:56pm
Msg #292073

Funny Thing About Nations Direct

They will pay you $30.00 for a loan modification, which once you reach the borrower's home takes all of 1.5 minutes (if that long, but no longer than 5 in case there is a question or 2 or the lender wants a photo ID) to do since you essentially just ID the borrower, have him/her sign on one spot, notarize at one spot, take the originals (which the borrower usually already has) and leave. Depending on the round trip travel time, any fax backs and drop offs, these can take less than 1 hour total to do. I can work with ND and other lowball companies in such instances.

On the other hand, ND's e-docs, which require printing, travel, borrower's signatures on many documents (which can take anywhere from 45 mins to 2 hours and does not include travel time), notarizations, fax backs and drop offs, they only want to pay $60.00. By the time everything is said and done, this can take anywhere from 2 to 4 hours to do. This does not make sense.

And ND wonders why they lose or cannot acquire good notaries.

Reply by JanetLA on 6/11/09 8:58pm
Msg #292090

They always meet my fee in Louisiana... n/m

Reply by nolanotary on 6/11/09 10:00pm
Msg #292103

Re: They always meet my fee in Louisiana...

Yeah...I have worked with them for two years and they have always agreed to my fee...no problems.

Reply by Notary/Guy on 6/12/09 12:09am
Msg #292117

6/11/2009 cheap excessive fax back very slow pay 60 day wait NJ
6/9/2009 begs you, extremely unprofessional, beyond cheap, they are a joke LA
6/8/2009 Cheap, excessive fax backs, Reps argue with you about rates, rude MI
6/3/2009 Pays very slow, 60 days plus, and they shop for the cheapest. Very low fees. HI
6/1/2009 very low pay expects you to work very cheaply OH
5/22/2009 Way out of line. Requested us to fax back the entire loan package. NO WAY. OK
5/18/2009 You can make more money working at Walmart than these low-paying schmuks. CT
5/16/2009 Too many telephone calls and far too little pay for the hassle. NJ
5/13/2009 offered $60 for refi/purch combo 150+ pages & 140mile r/t. what a joke! PA
4/26/2009 These guys want to pay dead cheap rates. CA
4/17/2009 Very low fees, they definitely do want to hassle you for your fee, very slow pay MO
4/10/2009 LOW BALL FEES; TRIES TO HAGGLES FEES; EXCESSIVE PHONE CALLS; EXCESSIVE FAXES VA
3/30/2009 paid within 30 days low pay PA
3/30/2009 Professional TX
3/30/2009 Low Low Pay- they offered me $25 CA
3/27/2009 Good company to work for. Pay fair to good. Pay extra if a lot of pages. AL
3/19/2009 just offered me $30 for a signing. i laughed. TX
3/16/2009 Steady work but the pay is extremely low compared to other companies. IL
3/14/2009 cheap, cheap, cheap and will strangle you with excessive phone calls CA
3/13/2009 They pay good NY
3/12/2009 CHEAP and Horrible Attitudes from Reps GA
2/20/2009 Great to with with but low pay...took 45 days to receive payment TN
2/18/2009 low pay but keeps you busy, too many phone calls but the staff is friendly PA
1/31/2009 too bothersome , too many phone calls, low ballers. TN
1/28/2009 Base rate $60 is low & policy is they don't pay you til end of following month! TX
1/27/2009 Just called me for a $40 signing, $20 edoc. I seriously laughed out loud. CA

Reply by Jess/CT on 6/12/09 11:37am
Msg #292167

They have met me fee, after stating, "we don't even pay attorney's that much" for the last
re-fi I did for them. It seems if they'll pay if the deadline is approaching and they really need this done.
So, stick to your fees and maybe everyone can get a fair fee.

Reply by Joseph Theeuwes on 6/12/09 12:09pm
Msg #292175

Nations Direct typicly pays low for all their work, especially a loan modification. A standard fee for a loan modification, with docs shipped to the notary is $65.00. This is an average pay un the US.

Hope this helps.

Joseph A. Theeuwes, CNSA
Memebr NAFPA (National Association of Paralegal Association)
Member and National Sponser, National Notary Accociation

Reply by CaliNotary on 6/12/09 10:23pm
Msg #292222

Why are you signing your post with all those useless titles? n/m

Reply by Roger_OH on 6/13/09 12:24am
Msg #292229

At least SPELL the useless titles right!! n/m

Reply by Linda_H/FL on 6/13/09 10:39am
Msg #292252

"A standard fee for a loan modification, with docs shipped to the notary is $65.00. This is an average pay un the US."


Says who? Please cite your source for this statistic....