Posted by nez on 3/2/09 1:08pm
Msg #279223

Richmond Title

Just got a request to do a closing for $75.00, explained not interested. He said he would need to use me at least 3 to 4 times a week. Explained fee to low and after reading all the post, doesnt look like they would pay anyway. Anyone getting paid from these guys??
Thanks

Reply by CopperheadVA on 3/2/09 1:16pm
Msg #279225

They've called me several times recently but we didn't even get to discussing fees because I told them I cannot accept their jobs because of their poor payment history. The guy has a very thick accent and he tried to explain that they had some sort of issue last December but had cleared that up. I explained that no, this was back in Feb 2008 when I worked for them and it took them forever to pay me. He wanted to continue to debate the subject - saying that they pay within a week.

Now I just let it roll to voice mail.

Reply by Lee/AR on 3/2/09 1:23pm
Msg #279227

I did finally get paid--over 90 days--and they actually did overnight the check. It wasn't $75, either. Truth to tell, I'm not real excited about taking another from a TC playing SS that definitely has some payment issues. And I would definitely not take multiple ones until I start seeing some recent & frequent good posts.

Reply by CopperheadVA on 3/2/09 1:27pm
Msg #279230

Forgot to add that my fee was $XXX plus $15 for the faxbacks they required. I've heard that they've dropped the fees they are willing to pay. We've seen these signs before with other companies - lower pay, later and later pay....

Reply by MW/VA on 3/2/09 4:08pm
Msg #279245

Yeah, I've heard the "low fees but volume" story also lately. It's a scam. If these companies are busy, they're making money, and can afford to pay decent fees. IMO a company that plays that kind of game has no respect for us in the first place.

Reply by Les_CO on 3/2/09 4:19pm
Msg #279246

A Title Company gets paid ……When the loan funds!…On a purchase/sale the day of closing. They have YOUR money in their pocket when the deal closes! So let’s hear ALL the legitimate reasons why they need 1/10/30/45/60/90/ days to pay us………..NONE!! What?! WE are indispensable to this process of interstate closings. Our service costs them NOTHING! They actually MAKE money on our services..... Yet they want to keep and use OUR money (paid by the borrower/buyer) for months?!! What FOOL would agree to that? Regardless of their name (Peerless, Pinnacle, Summit, Intergity, or F***ing wonderful!)... A phony is still a phony!

Reply by davidK/CA on 3/2/09 5:00pm
Msg #279250

Tell us how you really feel!

Les, these are my feeling as well. SS and now many TCs are under-capitalized to the point that they must use our money to pay their bills, thus (if we get paid at all) we get the 30-90 day payment cycles. It's all BS when they tell us they are waiting to get paid so they can pay us. Their failure to have sufficient capital to cover their expenses and costs is not and should never become the NSA's problem. If they can't pay the NSA from their own funds and have to wait for the borrower's money first then they shouldn't be in the business.

Someday SS and TCs that hire NSA will have to be registered, bonded and appropriately capitalized to be allowed to operate. As much as I hate big government, the constant "theft of services" by some SS and TCs must stop, even if it means governmental regulation.

Reply by sue_pa on 3/2/09 5:17pm
Msg #279253

Re: Tell us how you really feel!

...As much as I hate big government, the constant "theft of services" by some SS and TCs must stop, even if it means governmental regulation....

Please, David, keep your campaigning on the west coast. Not being paid is not a CONSTANT event or no one would do this job. While we all disagree with late and especially nonpayment, NONpayment just doesn't happen very often. If someone were able to come up with how many loans close in the field weekly and how many result from NONpayment, the percentage would be miniscule. Yes, it's a big deal when Express, Archer, LFC, etc., tumbled but again, those are the exception and were not total surprises to people who pay attention to the entire business end of their business and not just the 'signing' portion.

I've said repeatedly throughout the years ... search for clients who appreciate you and pay a decent fee for your services. There are PLENTY of them out there.

Reply by Lee/AR on 3/2/09 6:35pm
Msg #279256

Re: Tell us how you really feel!

When title companies--who are regulated--have hundreds of thousands of dollars go missing, why would you think any regulatory agency would get excited about a couple (or couple dozen) notaries who didn't get paid a couple thousand (or less)??

Reply by Teddog/CO on 3/2/09 6:19pm
Msg #279255

JMO Just turn those low-pay, no pay companies down when they call. It's not worth your time and energy when you can work for a reliable company. Thank God there are still a lot of excellent companies to work for

Have a great week everyone.