Posted by CaliNotary on 5/6/10 1:52pm
Msg #335205

New Millennium - It was nice while it lasted

I don't know exactly what's been going on within their corporate structure, but a lot of changes have been made over the past month or two. And, as is usual in these situations, those changes usually end up destroying what was a good thing for us signing agents.

Got a call for 2 signings this morning, this time the scheduler was in Texas. And as of 5/3, their new fee is $80 for an edoc signing, plus $20 for faxbacks. Which now means the entire 150 page package instead of the selected docs previously required.

She was able to get my old fee approved, but at that point I didn't realize that faxbacks now meant every single page. On these 2 signings I'll suck it up, but I did send her an email stating what my fees would be for future signings, which is now $10 more than what I was getting, because of the new faxback requirements. And that I couldn't reduce my base fee because of all of the extra time these B of A loans end up requiring due to the lender not having docs ready on time for about 1/3 of my signings.

So we'll see what happens. That is was so easy for her to get approval to increase my fee this morning gives me a sliver of hope that I'll continue to get a decent amount of business from them, but I have a feeling they're gonna end up ditching me for cheaper notaries. Which will be a bummer, but there ain't no way I'm doing those signings for $100.

Reply by MW/VA on 5/6/10 2:04pm
Msg #335217

Who's going to take signings at $80 w/full faxbacks? That's crazy.

Reply by BossLadyMD on 5/6/10 2:04pm
Msg #335218

They don't understand the cost associated with faxing back an entire loan package. I can see faxing a few pages, but the whole package??? I sense they are having a hard time finding folks.

Reply by Notarysigner on 5/6/10 2:09pm
Msg #335223

I guess I got an old FAX because if I faxed back an entire loan package (160 pages) it would take me two hours. I would never do that. Somebody help me with the name of a fax machine that will not make me late for my next appointment.

Reply by MW/VA on 5/6/10 2:11pm
Msg #335224

This is a great company. They fully understand the cost factors of printing these packages, having them signed correctly, and faxing back the entire package.
Something obviously has happened in their business structure. They may have cut a deal with BofA to get their business--who knows--just guessing.

Reply by BossLadyMD on 5/6/10 2:13pm
Msg #335228

Their offer of $80 + $20 for faxing an entire loan package back makes them less than stellar in book and borderline delusional.

Reply by BossLadyMD on 5/6/10 2:15pm
Msg #335230

*my book
I'm not trying to be mean. That fee is just insulting and they were a wonderful company.

Reply by MW/VA on 5/6/10 2:15pm
Msg #335231

Rather humorous in how they're presenting that. They used to pay $100. So now instead of thinking you're being asked to faxback at no charge (the exact email I got from them several months back) they're deluding people into believing they're being paid for the faxbacks.
Duh.........

Reply by CaliNotary on 5/6/10 5:08pm
Msg #335281

I was getting $125 each, $35 more if out of my county

I told them it would now be $135 each.

I really hate to kiss off the amount of business they've given me, and I really thought about whether it would be worth it to absorb the cost of the faxbacks like I did when they started requiring faxbacks a few months ago. That was easy enough to do, once I had memorized which docs they wanted back I just started separating them while I was double checking docs at the table, so the impact on my time was pretty minimal. But with this new requirement, combined with their expectation of lower fees, just doesn't make it worth it. $10 extra probably isn't even enough, but it's something I could live with and it keeps me in the neighborhood of what I was getting. I figure that since they've decided to take the ultra cheap route, it'll be sooner than later that they stop calling me completely, so it probably doesn't even matter.

At this point all I can do is keep my fingers crossed that this all backfires in their face and they quickly realize that they get what they pay for if they start using notaries who think $80 edoc signings are acceptable. Of course, I think I'll have better luck if I wish for a pony and 6 inches to disappear from my waistline overnight.

Reply by Glenn Strickler on 5/6/10 2:12pm
Msg #335226

Thanks for the heads up. I have not worked for them for a couple of months .. It will be interesting next time they call. Perhaps another reason for me to fade away .............. But one week a month, I am in NorCal anyway ....

Reply by SOCAL/CA on 5/6/10 2:32pm
Msg #335243

I posted about this fee issue yesterday. I was told by the scheduler that it was B of A idea to lower their fee structure and faxback requirements. B of A was bailed out by the feds, now I guess they want a bailout from the notaries. I think not, at least in my case.

Reply by SReis on 5/6/10 2:37pm
Msg #335245

Funny....

I did a BOA signing for a different title co. last night & NO Faxbacks were req. Is everyone so sure this is a bank req?

Reply by JanetK_CA on 5/6/10 2:46pm
Msg #335247

Re: Funny....

It depends... I'm what, I'm not sure yet, but I've done a number of B of A signings over the last several weeks that didn't have the full package fax-back requirement. Some wanted certain pages faxed back, others none. So far, I haven't had any that wanted the whole package faxed, fortunately. B of A is so huge, with so many different departments (e.g. the old CW loans, etc.) that it's hard to know what is what. It does seem to me to vary by the client, but they could all be working for different divisions of B of A.

Reply by Linda Juenger on 5/6/10 2:56pm
Msg #335249

Re: Funny....

Wouldn't meet my fee yesterday either. There were other factors why I raised my fee a little and they wouldn't do it. It was a 9pm appt 40minutes away and fax back entire pkg. Try getting a plumber, electrician to come out at 9pm without an additional charge. Good Luck with that. My fee for that area was XXX and I raised it $25 for the late appt and the fax backs. I used to just love that company. Would have done just about anything for them, as long as it was legal. They were one of the very best. So sad to see them go this way for BOA. I am just not understanding how some BOA want full pkg fax back, some want just a few others and some none at all. Can someone PLEASE explain this?

Reply by Notarysigner on 5/6/10 2:41pm
Msg #335246

Re: Ditto! n/m

Reply by CopperheadVA on 5/6/10 3:12pm
Msg #335250

This is exactly why so many of the good notaries are getting out of this business (ala John_NorCAL). These companies think they can keep squeezing us and keep squeezing us some more, expecting more and more services for less and less money. At some point, it's just not worth it any more.

Reply by A S Johnson on 5/6/10 3:24pm
Msg #335255

last week I accepted a BoA/CountryWide. I questioned the size of the pkg, # offax backs. I was told it would be about 120 pgs and have about 20 pgs of fax backs. When I printed the package it was 198 pgs with 80 pgs of faX backs.
I simlpy have adopted I do NOT do BoA/CountryWide pkgs at this time.
1) I'm tired of being "mis led". I expected to ethical and truthful.
2) my basic would be $200 plus milage.
Most of the Title Cos/Att'y officies I know won't do BoA CountryWides either as they pull a lot of BS on them making it time comsuming and hard to do.

Reply by Dorothy_MI on 5/6/10 4:03pm
Msg #335265

I just got a call to do one

tomorrow. Was told the entire package would need to be scanned or faxed back (well over 100 pages is what scheduler said). I said I did not have that kind of equipment. She then said she would try and find someone with that kind of equipment and if she couldn't would call me back. It would have taken me more time to fax back the entire package than it would have to have printed the docs, driven round trip and done the signing. I think some of these executives that make these decisions think we're dumber than a rock! By getting us to do that, they don't have to use their expensive equipment and clerical time scanning the packages in!

Reply by Riley/FL on 5/6/10 4:07pm
Msg #335266

Can you scan and email the docs? n/m

Reply by CaliNotary on 5/6/10 5:10pm
Msg #335282

Yes. But scanning 150+ pages is still a chore n/m

Reply by Lee/AR on 5/6/10 4:25pm
Msg #335271

Exactly right, Dorothy! n/m

Reply by MW/VA on 5/6/10 4:29pm
Msg #335274

It's call "outsourcing". Increase their profits at someone

else's expense.

Reply by barkaroni on 5/6/10 4:39pm
Msg #335277

I am not a new notary but am new to notary rotary. I really enjoy reading all the statements made as I see we are all going through the same thing in this business. I just had to comment on Bof A and the fax backs. I have done Bof A signings for many years through various singing services. I excepted one yesterday and when I got home to get the confirmation I saw that many pages were to be faxed back. I called the group I work with and told them I would have to turn it back as there was no way I could handle this many pages to fax back. I ask the scheduler since when was BofA requiring fax backs? I told him I had never had to do this and I just did one two weeks ago. He said they were now requiring it. This was not with New Millennium.

Reply by Riley/FL on 5/6/10 4:53pm
Msg #335278

I just had 2 BOA today with no fax backs.

Reply by Tess on 5/10/10 7:25pm
Msg #335764

Re: Whiner! n/m