Posted by Ernest__CT on 5/12/10 8:55pm
Msg #336147
Equifax Settlement Services, AKA ESS
The following email was received today. It is posted here without comment.
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DEAR EQUIFAX SETTLEMENT SERVICES NOTARY:
In an effort to reduce overall costs, Equifax Settlement Services has begun an initiative to lower vendor fees for all witness closing transactions. This fee reduction will lower your current fee to $75.00 with emailed documents and will go into effect 6/04/2010. ALL ESS closings packages going forward will be sent to you via email. This reduction in prices will place our fees more in line with competitive prices in the current market place.
Why does this change benefit you as an ESS agent? By agreeing to this fee you will be setup on the ESS Automated Scheduling System. This makes you first priority for ALL closings in your coverage areas. All that you are required to do is send a list of counties you agree to cover for $75.00 with emailed documents to: [e-mail address]. Please make sure to include your ESS vendor number in the subject line of your email.
If you do not wish to comply with the $75.00 fee but are willing to lower your overall average fees by 10%, please email [e-mail address] by 05/28/2010 with your base fees by county including emailed documents. Please also make sure to include your ESS vendor number in the subject line of your email. If we do not receive a response, then it will be assumed that you have found the changes acceptable.
We value your partnership. Thank you for your cooperation and we look forward to your continued partnership with Equifax Settlement Services.
Jon Plagman
| Reply by jba/fl on 5/12/10 9:05pm
Msg #336148
Ohhhh, dear! oh, oh, oh. n/m
| Reply by Claudine Osborne on 5/12/10 9:12pm
Msg #336150
Re: Ohhhh, dear! oh, oh, oh.
Heck NO!
| Reply by Bravo on 5/12/10 11:24pm
Msg #336195
Re: Ohhhh, dear! oh, oh, oh.
If all of us refuse to work for these nominal fees, then what will they do? They'll have to raise their fees. I just don't understand why they think that OUR FEE is where they need to cut their budgets! Thanks for the heads up on this company.
| Reply by John/CT on 5/13/10 9:27am
Msg #336228
"If all of us refuse to work for these nominal fees, ...
then what will they do?" They will always find someone else to accept their lowball fee. Happens all the time in my service area. 
| Reply by Pat/IL on 5/13/10 1:31am
Msg #336202
"If we do not receive a response, then it will be assumed that you have found the changes acceptable."
Be careful out there.
| Reply by Marian_in_CA on 5/13/10 1:51am
Msg #336204
Dear Jon Plagman...
Dear Jon Plagman,
While I respect your company's desire to "reduce costs" and any good business should, let's be honest... there's no possible way that you can prove this "priority" status for my coverage area can you? What if 5 of the NSAs in my area all went dumb overnight and agreed to this? Who of the 5 is your true priority?
So, I'll tell you what... if you can promise me a minimum of 30 transactions per month, I'll do it for $75 each, provided:
- They fall within a 10-mile radius, otherwise mileage fees apply.
- I have full control over scheduling and return of documents. Documents must be ready at least 24 hours in advance, no exceptions or extra fees apply.
- I do not have to have my hand held through each signing. Send me the docs and I'll get the job done. Don't make me call or email 15 times to confirm minute details. if you want this, extra fees apply.
- If you cannot provide the 30 transactions per month, you agree to pay me my normal fee for each transaction I do accept, or you agree pay for those 30 transactions each month whether you have work for me or not. That's right, you'll owe me $2250 a month, minimum -- work or not -- otherwise, you agree to pay MY normal fees, no questions asked...and all of the above requirements still apply.
- You sign a contract detailing these terms.
You're lowering your vendor fees because you know this ridiculous promise of "priority status" will lure less experienced vendors.
While "emailed documents" is a nice cost reduction for you.... do you realize what the cost is for the notary? Do you realize the emailed docs INCREASE the notary's costs? Do you realize the cost of gas, paper, toner, insurance, etc have gone UP?
The "competitive prices" in the "marketplace" is a myth. Any intelligent notary vendor can see right through this.
I have a business to run, too. I have costs to cover and bills to pay, too. The promise of "priority status" is a joke. If you want intelligent contractors, you have to try another angle... and not insult us.
| Reply by DHartley_PA on 5/13/10 7:35am
Msg #336215
Re: Dear Jon Plagman...
Marian, Love your reply...mind if I use it? Thanks!
| Reply by Stoli on 5/13/10 7:53pm
Msg #336432
ServiceLink reduces fees to $45 and failed. Stick together. n/m
| Reply by Moneyman/TX on 5/13/10 12:09pm
Msg #336260
Excellent reply n/m
| Reply by JanetK_CA on 5/13/10 3:30pm
Msg #336369
Love it!!!! :>) n/m
| Reply by CopperheadVA on 5/13/10 5:17am
Msg #336205
This letter is exactly the reason why so many good quality notaries have gotten out of this biz (reference recent goodbye post from John_norcal)!
I've already had to reduce my fee these last two years by 20-30% just so I can keep working. This $75 fee structure for e-docs is absolutely lower than I am willing to go, and it represents a 50% fee reduction from what I used to get all day long in 2006 and 2007.
Absolutely unbelievable.
| Reply by Deborah Lewellen on 5/13/10 6:34am
Msg #336208
And that's why I say, "Don't put all your eggs in one basket" because of companies like this that want to lowball you. I get very little work from them anyway, like 1-2 a yr. so no worries for me, but I've made an alternative business plan and it's all ready providing for us very well, for my husband and I. And though like everything in this world, nothing is perfect or foolproof, I can at least be choosy and not have to be desperate and can say, "No".
Notaries Direct called me the other day to do a RM for $40(print docs too), I'm like you've got to be kidding me, I'm not even starting my car up for that even if you double it.
| Reply by Linda_H/FL on 5/13/10 6:39am
Msg #336209
" RM for $40(print docs too), ".....WOW!!! n/m
| Reply by PAW on 5/13/10 7:37am
Msg #336216
No way, Jose.
Lately, my general notary work, and other services offered, have far surpassed my SA income. Primarily due to the fact that the general notary work being done is invoiced and paid at a fair rate of exchange. Besides that, there is much less 'busy' work, headache and anxiety in the non-SA work. For example, working with a local attorney's office, I do a lot of healthcare and estate planning document notarizations. Usually, the signers of these documents have been involved in the development of the documents and are extremely aware of their contents. I don't have to print anything, and usually don't have to even pick up the docs, though I do for some since I am located in the middle of the county seat near the courthouse, county offices and lawyer offices and within spitting distance of a major hospital and numerous medical facilities and doctor's offices. Mobile Notary services are well appreciated by my clients that are referred to me by these lawyers, doctors and their staffs.
| Reply by Notarysigner on 5/13/10 8:41am
Msg #336219
Re: No way, Jose.
same here PAW
| Reply by garland/CA on 5/13/10 10:04am
Msg #336239
Re: No way, Jose.
I am finding this as well. Much more appreciation, much more preparation of documents without all the surprises and errors, less expense to my business and pay is either immediate or within few weeks. Working for professionals as a professional.
| Reply by Les_CO on 5/13/10 10:07am
Msg #336240
Dear Jon/ ESS IF you can show (prove to) me that you have reduced your fees to the borrower (that ultimately pays our NSA fee) I will consider lowering my fee. If not I suggest you take a reduction in salary.
| Reply by John/CT on 5/13/10 10:18am
Msg #336245
And pass that reduction on to me ...
in the form of keep on paying me my normal fee. 
| Reply by C. Rivera Chicago Notary Services on 5/13/10 10:10am
Msg #336242
"This reduction in prices will place our fees more in line with competitive prices in the current market place. " Are they seriously deranged!
If these bozo low ball companies can get together and set the 'standard' for fees, then WHY OH WHY can't we nsa's do the same? BOYCOTT BOYCOTT BOYCOTT !!!!!
"By agreeing to this fee you will be setup on the ESS Automated Scheduling System. This makes you first priority for ALL closings in your coverage areas..."
There's going to be a huge sign up from my local low ball notaries fighting for this ridiculous fee...(hope they crash their server) and how is ESS going to weed them out? I can just see it now....ESS Ebay but in REVERSE!
"If you do not wish to comply with the $75.00 fee but are willing to lower your overall average fees by 10%, please email ......" ...let's see....when I do the math, they want me to drop $12.50 off of my rock and bare edoc fee of $125.00 to $112.50 WTH!?! Pony up the dough ESS!
ESS is a multi-millon dollar company for pete's sake, and they have the audacity to offer such low a$$ fees because it is supposedly competitive for them...yeah right....totally disgusting!
ESS should be the one setting the example for all the rest by paying for quality work from nsa's that are truly worth it!
ESS should be the first company to uphold our profession by paying us reasonable, not riduculous fees as NSA's are pivotal for the clients success!
| Reply by JanetK_CA on 5/13/10 3:42pm
Msg #336371
This kind of stuff seems to be a result of XYZ still holding classes and churning out newbies. As long as there is a constant supply of newly minted, wannabe NSAs being fed who-knows-what about what fees should be, the big settlement co's will continue to be able to get away with dropping fees. And they can keep their employees busy in this slower market by taking care of all the micromanaging and babysitting they will need to do as a result.
I sure don't think this is doing their clients much of a service!
| Reply by Sandra Kurtz on 5/13/10 12:12pm
Msg #336261
I have had signings where the notary fees alone for the ridiculous number of documents to be notarized would exceed $75. Get real!
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