Posted by cayenne1227 on 4/13/11 3:03pm
Msg #379652

but seriously folks.....

I very rarely post on this forum...however I do frequent it....here are my thoughts on what is going on....not that anyone cares anyway...but I just feel better expressing my thoughts, so here we go..... Soooo many "newbies" have totally saturated the market making the "new standard fee" of $70.00 acceptable..(got a call last week for a bofa w/landsafe as tc for $70. bucks), for those of you who have not done these, the packages are huge, tc docs are just as many as lender docs....+ faxbacks....signing was about 35 miles one way....+ tolls...yep for $70.00....gave my fee and never heard back from ss. PAAAAAAAATHETIC, ARE YOU SHITTING ME??!!! It certainly does not help that rates are inching up and in order to control the "inflation that we are NOT experiencing" this must happen to keep the "inflation that we are not experiencing" under control. Signing services are making just as much money today as they were 3-4 5-6 years ago....no doubt about that.. seriously, making 50 or 75 bucks or even more for a phone call is absolutely absurd.....how did we let this happen, or HOW did this happen? We as nsa's need to come up with creative ways to get paid what we are worth, cut costs and everything in between. I am certainly not paying any less for gas, paper, toner etc. I do like some of the ideas I have seen on this board for cutting costs.....ie. emailing bo their copies of docs....meeting bo half way, etc.....I have been doing this for 10 years and have never, I mean never seen things this bad....I have had one closing this month, WOW, that sure does help pay for the next installment of college tuition....do not get me wrong, I certainly am looking for work as this just does not pay anymore, in my area anyway. This is very depressing as I have made my living from this profession.....of course there are your ups and downs, but many more downs lately than ups....UNREAL.....anyone who wants to break into this business right now, is taking paychecks from my mailbox and yours too.....because they have made it possible to bring the fees down to 60, 70 or 85 bucks.....I am thoroughly disgusted with the whole business in general.....thoughts, ideas, comments and/or solutions are certainly welcome..

Reply by Teresa Rowe on 4/13/11 3:10pm
Msg #379653

Amen, you are preaching to the choir!

I received a call yesterday for a standard refi paying 50.00, that's right 50.00
You know someone jumped all over it, not me!

Something has got to change, I don't what or how but something has to happen.

Reply by mwm143 on 4/13/11 3:13pm
Msg #379656

While I agree with most of what you have written, I have to disagree that the Signing Services are making what they used to. And there is more than a phone call involved in running their business just like there's more to ours than a 45 minute appointment.

The services of a signing agent in the loan transaction have become so disregarded that many companies don't even bother to pay us. And yet they are still in business. That's the most disgusting of all.

Reply by James Dawson on 4/13/11 3:53pm
Msg #379657

I agree with you on this one...so why don't they (SS) have to complete a background check for example.

BTW things can get worse, yesterday my wife got laid off (18 years), she's a teacher. Don't worry though, she won't be joining the notary pool for sure.

...Back on track, if you got to take a lower paying assignment, just work smarter......do the signing in 15 mins: you know what you gotta do to accomplish that! Aah hopefully.

Reply by CindyH on 4/13/11 4:02pm
Msg #379659

I wonder how many of the notaries who are working for $$ are actually covering their costs or if they know what their true cost are...vehicle expense, all that goes with printing the documents, mailings, social security and medicare taxes (both er and ee portion) not to mention the benfits you give up by working for yourself. We have small businesses in our area...not notaries...who work for nothing too.

Reply by Alz on 4/13/11 5:12pm
Msg #379673

You hit the nail on the head.....I don't think the folks

that are accepting these ridiculous fees have conducted any type of cost analysis or even evaluated their profit margins. Maybe it is a hobby for them.

Reply by A S Johnson on 4/13/11 4:04pm
Msg #379660

mwm143 in NC,
If ss are making less, why are more and more entering the business??
And, if "GOOD" money can't be made as SS why are investors in India buying up some of the older, large ss?

Reply by mwm143 on 4/13/11 9:32pm
Msg #379698

I think you answered your own question AS Johnson The jobs are going to India.

Reply by Glenn Strickler on 4/13/11 5:34pm
Msg #379674

When people write that they are busy........

The type of person you describe comes to mind. We have people driving 80 miles round trip to my area from another for 65-75 dollar edoc loans. I don't care what kind of fuel mileage you are getting, at $4.25 a gallon, wear and tear,insurance supplies and time, it's a loser.

Since I won't do that, guess I am out of the loan signing business. Plenty of general notary work to keep beer in my fridge, though.

Reply by LKT/CA on 4/13/11 6:28pm
Msg #379682

Agree with Glenn

The "busy" SAs are accepting the $50 - $75 lowball signing jobs.

Reply by NJDiva on 4/14/11 11:02am
Msg #379751

Re: Agree with Glenn

Weeeeell, I don't know if I would necessarily say if someone is "busy" they are accepting those low ball fees. I'm very well established and though I'm not as busy as I WAS, I am definitely NOT taking low ball fees yet am still maintaining about HALF of what I was which I suppose is pretty good in many peoples eyes.

Reply by James Dawson on 4/13/11 6:32pm
Msg #379683

Also agree with both of you! n/m

Reply by aanotary on 4/13/11 6:50pm
Msg #379687

I actually got offered $40.00

for a refi ?! I did not even quote my fee-just said no thanks and hung up. I would not even do a loan mod for 40.00!!