Posted by Les_CO on 7/29/10 2:00pm
Msg #346831

How about this BS

No more Title Co/SS's contacts we'll do it all (for a fee) and SAVE you money! Cause you can low-ball the Notaries.

https://www.nationalloanclosers.com/closingboard/tgtb47183/flashdemo39520.php

Reply by James Dawson on 7/29/10 2:08pm
Msg #346835

hA hA hA

FUNNY...that url came up NON- trustworthy on my computer..LOL

Reply by Les_CO on 7/29/10 3:14pm
Msg #346844

Re: hA hA hA

I agree with your computer!
But these guys e-mailed every Title Company and SS out there, trying to get business (really nothing for something in my book.)

Reply by Hugh Nations Signing Agents of Austin on 7/29/10 3:40pm
Msg #346849

Did you get this: "For every 10 loans posted a month on our site, your company can save almost $3,000 annually."

As I understand it, post 10 loans a month -- that's 120 a year -- and you can save $3,000. If my math is correct (and I'm still feeling stupid about the housing tax credit question, so I'm not all that confident it is), that means the company could save a whopping $25 or less per closing.

Big damn deal.

Reply by Les_CO on 7/29/10 4:03pm
Msg #346851

But you get an unknown quantity/person that you (or anyone) may have never spoken with “representing you and your client” to customers at perhaps the most important, and largest money (dollar amount) decision they will ever make in their lives. Who cares if they are articulate? It’s an AUCTION! You get the cheapest, and the first to reply…that should be worth something? Come on…save a few bucks…these Notaries are a dime a dozen, and because they are regulated (officers of the State, and all that) some will do a pretty good job. Don’t worry…be happy. Sign up with and pay us…we’ll worry for you.

Reply by JanetK_CA on 7/29/10 4:14pm
Msg #346853

You forget... They said that a post would put them in contact with "all the qualified notaries in the area" (or something close to that) and that their system would help the client avoid risking the hire of a non-qualified notary.

I think that's the funniest part of all, 'cause I seriously doubt if very many "qualified" notaries/NSAs would go for that kind of a system. Unless, of course, they have a very different definition of "qualified" than most of us do.

Reply by Les_CO on 7/29/10 4:53pm
Msg #346863

I think qualified, like beauty, may be in the eyes of the beholder…In this case (legally) if the NSA (first low bidder) is “commissioned notary” they ARE qualified.
We that have some experience in this business know the difference between (should I say “JUST”?) a Notary, and a professional Notary Signing Agent.

Reply by jba/fl on 7/29/10 4:52pm
Msg #346862

" your company can save almost $3,000 annually.""

they are saving nothing - the borrowers are footing the bill.

This also reminds me of when I went shopping and got some great sales. I would come home exclaiming how I saved so much money - my ex (wonder why?) would counter with I wasn't saving a thing - I spent. He could never grasp that concept (or was it me??)

Reply by James Dawson on 7/29/10 4:58pm
Msg #346866

Since being retired I have found out that the best way to save/double your money is to fold it and put it back in your pocket. LOL

Reply by Les_CO on 7/29/10 5:05pm
Msg #346867

Ahhh….Perception is everything!
I feel that many out there may not perceive the reasoning for; or intent of my post?
Come on Guys….This is FUN!
It’s an AUCTION!
Just sit by your computer, checking your e-mail (after you sign up for a fee) and see if you can be first to respond!
Be the WINNER! Oh Gosh! Who will be the winner in my zip code to get the first $30 signing? OH! I can’t wait! Pick me! Pick Me!
If history is any guideline, sadly these guys will eventually win. So if you are a scheduler for a SS, or Title Company…start looking for a new job.
If you are a professional Notary Signing Agent……Do something to stop this trend. Do not join or contribute in any way to the NNA. Never join one of these PAY sites. And NEVER----EVER---even if it’s ‘close’---- even if it’s ‘on your way’…even if you ‘need the money’----EVER work for less that you’re worth! And PLEASE stop and CONSIDER your worth….What would “they” have to do without your services? What would it cost? And how do your actions impact us all?
THINK!
Please.

Reply by MW/VA on 7/29/10 5:14pm
Msg #346869

Great post, Les. Some think the "e-bay" concept that has

been so successful might work in other areas--NOT!!!!!

Reply by MikeC/NY on 7/29/10 8:04pm
Msg #346900

I don't know if you caught it, because it flew by pretty quickly, but on one of the screens it shows the notary's offered fee as $23....

This is a reverse auction - lowest bid will get the job. And, since the offer is anonymous, you have no idea who you're dealing with until it''s too late. I can see a company like SOX getting a lot of mileage out of this...

Reply by MikeC/NY on 7/29/10 7:57pm
Msg #346895

"they are saving nothing - the borrowers are footing the bill."

Good point... It's easy to lose the reality in the pile of BS some of these people generate...

Reply by jnew on 7/29/10 8:38pm
Msg #346903

Those who pay less expect less and the market makes sure they get less. Don't give away your expertise.