Posted by Yoli/CA on 8/26/10 11:38am
Msg #350543

BancServ

just called for last minute ("on bended knee") - be there in 25 minutes, 25 mile drive - to title office; docs are there; other notary has car trouble; yada, yada

quote my fee - "sorry, the economy is upside down and the most I can pay is $100"

me: sorry, that's my bare minimum; but, now you're talking last minute and distance

she: well, it was worth a try

Guess she didn't need it done so soon so badly ....

Reply by James Dawson on 8/26/10 11:42am
Msg #350545

Hey Yoli, I didn't know you had a target on you back? LOL The nerve huh? Good for you for sticking to your "professional" guns......

Reply by pat/WA on 8/26/10 12:33pm
Msg #350557

It is rare for BancServ to pay $100

Reply by Teresa/FL on 8/26/10 1:15pm
Msg #350569

You mean they usually offer less than $100?

Reply by Yoli/CA on 8/26/10 1:38pm
Msg #350581

BanServ has called me several other times. However, all the other times they've called, I was already busy. This is the first time the conversation has gotten this far.

If their fee is under $100, they may as well stop calling me. "Ain't gonna happen!"

The more I think about it, the more insulted I feel. Call me at 9:30 for a signing at 10:00 that's 25 miles away and requires a Spanish-speaking notary. Borrowers are having to drive 1-1/2 hours to get to title company to sign. It's not the borrowers fault the original notary encountered car problems. However, facilitator (BanServ) will pay no more than $100!! Jeez!!! I'm almost sure the borrowers are paying a lot more than that!

Reply by 101livescan on 8/27/10 8:42am
Msg #350668

I recently was contacted to do a signing represented as one loan on three properties. It turned out to be three loans on three separate properties. They paid $100 for the package. They charged the borrower $450, I was paid $100, a spread of $350 in profit for Bancserv. I don't see any wisdom in working so cheaply, hence, they are not a company I jump for, although I started out with them years ago. I know that other notaries in my area are happy to work for $50 for Bancserv. Good for them.

Reply by MistarellaFL on 8/26/10 1:42pm
Msg #350583

<<<You mean they usually offer less than $100?>>>

Yes, last one I did several years ago was $50 ON docs.
Payment in less than 2 weeks.
About 40-50 pages, in my own zip code.
Offered $75 for e-docs, however, IME they've always sent ON docs, but then again, I've only done a few for them due to low fees, and that was 2006-07-ish.
They are one of the few companies who I will do a $50 ON package, as there are minimum docs, super-local, and fast payment.
I stopped doing them completely because of the required XYZ BCG (forget that, Bancserv).

Reply by Moneyman/TX on 9/2/10 11:24pm
Msg #351410

My last one for them last month was local and well OVER $100

As a longtime poster once posted about doing "favors" for SS's. As a general rule, don't. I don't have a long list of SS companies that are willing to do me any favors, like pay my bills so that they can offer well below professional fees while charging double my regular fee to the TC.

My YTD average pay time for this company is 12 days. Which is awesome!

I don't lower my professionalism or knowledge so therefore I don't lower my fees to the likes of $50-85 for closings as some do. Just like everyone else, I have several fixed costs and I refuse to go out of business doing 'favors' for SS companies that are only interested in shopping around for the lowest price regardless of quality of service. Luckily I do not find myself in that kind of position with this company as when they call they meet my fees.