Posted by mwm143 on 9/18/09 8:17am
Msg #304231

MDA...$46.00 fee

Is anyone on this site accepting their work for $46.00?? A typical loan package has at least 10 notarizations. Shucks, if the people travelled to me and brought just the papers for notarizations, I could still legally charge more than what this company is offering.

Reply by John/CT on 9/18/09 8:30am
Msg #304233

What are those people thinking?!?! n/m

Reply by Kerry Webster on 9/18/09 8:47am
Msg #304234

Re: What are those people thinking?!?!

I did a signing for them in Aug. for 100 in florida. haven't been paid yet, however, not late either.

Reply by Frank/NC on 9/18/09 9:23am
Msg #304236

They generally e-mail the request to you. If well all ignore it they might get the hint.

Reply by MDA Lending Solutins - Scheduling on 9/22/09 9:19am
Msg #304557

Not everyone is ignoring the email requests. Many call and negotiate a reasonable fee and are keeping quite busy. Those who use the website may decline the appointment and in the comment section write what their fee is. Since the MDA's notary database contains thousands of notaries nationwide, it would be impossible to have uptodate information on each and every one. Those savvy notaries are aware of this and are more than willing to call MDA and negotiate the fee. Most do not ignore the message. If you would prefer not to receive the messages, please give them a call to be removed from the database thereby saving everyone's time. P.S. Pay cycle is every two weeks - contingent upon W-9's on file as well as loan status being updated.

Reply by MDA Lending Solutins - Scheduling on 12/10/09 5:05pm
Msg #313903

Why don't you just call and be removed from the database?

Reply by MW/VA on 9/18/09 9:29am
Msg #304237

That's ridiculous!!!!!

Reply by docs1954CA on 9/18/09 9:39am
Msg #304240

They are now handling BofA loans, the $ 46.00 Chase equities seem to be gone.They are offering $65.00 for the BofA including e-docs. I always decline these if I get the e-mail in time and enter my own fee for it. After they spend all day trying to find someone that will do it for $65.00, then they will actually call me and agree to the fee I entered.I wonder how much time and money they waste trying to save a few bucks on these....

Reply by mwm143 on 9/18/09 10:35am
Msg #304250

Wonder how they determined $46 was a fair fee. Why not $45? n/m

Reply by Sullivan and Co LLC on 9/19/09 7:51am
Msg #304346

Re: Wonder how they determined $46 was a fair fee. Why not $45?

I just read on another notary site that MDA is not paying notaries. I just heard from them for the first time. I think I will wait to hear something positive about them before I accept an assignment. I sure will not do one for $46.00!

Reply by MW/VA on 9/18/09 2:23pm
Msg #304285

Who is MDA?

Reply by mwm143 on 9/18/09 2:53pm
Msg #304295

MDA Lending Solutions...fka Transunion of Charlotte.

I remember the good ole days when they paid $125 for HELOCS that were less than 40 pages. Then again, I also remember the days when Ameriquest paid $200. And the appraisers they used were paid $650. Actually the borrowers were the ones paying. And now us taxpayers are paying. Oh well.

Reply by MW/VA on 9/18/09 3:33pm
Msg #304304

Re: MDA Lending Solutions...fka Transunion of Charlotte.

I saw the other day that Fedex was reporting lower PROFITS. The key word here is "profits".
Look where the bubble, inflated real estate values, loose mortgage lending practices, etc. got us.
IMO the days of big money--big profits are over. I'm still getting a decent fee for the most part & haven't priced myself out of the market. I'm sure there are notaries in my area taking those $60 signings. So far I haven't been offered (and wouldn't accept) a fee of $46 for anything. The thing that gets me is that the mtg. brokers are still making big bucks. I saw a VA streamline refi last night with closing costs of over $11k, with about $5k of that going to broker fees of some sort.

Reply by jnew on 9/18/09 5:49pm
Msg #304321

Re: MDA Lending Solutions...fka Transunion of Charlotte.

I turned down a 60 buck closing with edocs because the company would absolutely not pay any more. I told them I can't make a profit if I have to travel. Not even 10.00 for travel. So I guess they found someone else. Seems like the West Coast is involved more with low balling. I look at the HUD the signing company gets 175.00 for notary services and the notary gets 60.00, how do you deal with this?

Reply by Claudine Osborne on 9/18/09 10:16pm
Msg #304333

Re: MDA Lending Solutions...fka Transunion of Charlotte.

Just say NO!

Reply by mwm143 on 9/19/09 7:50am
Msg #304345

Re: MDA Lending Solutions...fka Transunion of Charlotte.

How to deal with this trend and how to get it turned around is a great question. And just saying no is not a great answer.

More and more notaries are signing up on these sites. Notary Signing Agent is advertised as one of those "work at home jobs" and included in those thousand of emails sent out every day. 5 years ago there were 20 within 30 miles of my zip code. Now there are 85. For the ones who have other jobs and only rely on signings for pocket money, they will gladly take a $60 closing, printing docs at work and closing it on lunch hours or on their way home from work. Loan officers, paralegals and processors do this all the time! And yes, they know what they're doing and return error free packages.

I don't know what the answer is but I don't see this trend reversing anytime soon. In a later post "just for kicks" I was asking people what was their highest and lowest fees ever offered and when. The trend is evident.

Just my .02.

Reply by BrendaTx on 9/22/09 10:40am
Msg #304565

mwm143 - that's an incorrect generalization.

**For the ones who have other jobs and only rely on signings for pocket money, they will gladly take a $60 closing, printing docs at work and closing it on lunch hours or on their way home from work. Loan officers, paralegals and processors do this all the time! And yes, they know what they're doing and return error free packages. **

I am a loan doc prepping legal asst. When I went back to working full-time, my fee went UP BY $50 so that it's worth my free time to do it.