Posted by pat/WA on 4/20/11 4:05pm
Msg #380675

New Signing Services

Does it appear to you that most new Signing Services are under capitized? They appear to be running a quazi Ponzi scheme. Best to stick with Title companies and the tried and true

Reply by Shoshana/AZ on 4/20/11 5:53pm
Msg #380687

Title companies go out of business too! n/m

Reply by Moneyman/TX on 4/20/11 6:18pm
Msg #380698

However, they pay faster and in most cases, more than

SS companies.

Also, they are not "owned" by notaries trying to make $75-$150 just to make a few phone calls and they have the money at closing to actually pay the SA.

Reply by CopperheadVA on 4/20/11 7:30pm
Msg #380714

Re: However, they pay faster and in most cases, more than

Moneyman, I think it's even worse than that! I'm finding that many bid the job for what we would normally charge, let's say at $125 (minimum what we should be getting directly from TC) or less and then farm it out for $75 - $100. I think a lot of these notaries farm out jobs for as little as a $25 profit. Not worth it in my book.

Reply by Les_CO on 4/20/11 8:19pm
Msg #380722

Re: However, they pay faster and in most cases, more than

Some good SS have a million dollar liability umbrella that 'extends' to their notaries. Two I work for (Negrete’s, and First Preference) have such policies. They DO NOT extend to ‘farm outs’. So if you are getting business from these people don’t pass it on, or farm it out, ‘cause they will drop you in a New York second.

Reply by Moneyman/TX on 4/20/11 11:59pm
Msg #380782

I wish more of them would do that.

"‘So if you are getting business from these people don’t pass it on, or farm it out, ‘cause they will drop you in a New York second."

I've worked for Negretes before (5 Star company in my book!)

Reply by Moneyman/TX on 4/21/11 12:02am
Msg #380783

Re: However, they pay faster and in most cases, more than

Actually may be even worse as some of the ones that might be doing it for the $25-$50 are some of the same ones that are a PITA to get paid from or worse, they just keep your money. In the latter case some are doing it for the entire $125-$150+ while the SA is doing all the work.

Reply by MW/VA on 4/20/11 9:13pm
Msg #380732

"that most new Signing Services are under capitized?"

I think that is a pretty broad statement. Where are you getting your info. I'm not saying that isn't true, and I'd be pretty wary of anyone trying to start up in this market. Even the best ss are competing fiercely for what business is out there. Speaking of tc's, Titleserv closed up shop the other day & a lot of people are left holding the bag. The old "tc's are better to work for than ss" is simply not true. I can tell you that there are a couple of solid ss that are keeping me going at this point. Without them I'd be out of business.

Reply by topflyt on 4/21/11 12:51am
Msg #380786

Re: "that most new Signing Services are under capitized?"

I'll keep accepting assignments from Negretes and Sunshine Signing as long as they keep calling.