Posted by FeliseSoCal on 7/12/11 11:27am
Msg #389452

I got the ServiceLink call this morning...

All I can say is "Are you F@#%ing kidding me"???? I have LO's at Chase that use ServiceLink so they can request me. I BRING them business and after 8 years they want me to lower my fees to slave labor so they can increase their bottom line? No thanks.

If they could use child labor to do their closings they probably would. They have no respect for the value those of us with experience bring to the table.

Are you trying to convince me there are notaries who do e-doc signings for $55? My Chase clients have stopped using ServiceLink because they've told me their quality has gotten so poor. I don't believe anyone with any experience would work for that low, but good luck. You get what you pay for. I make more money doing general notary work.

Reply by Lee/AR on 7/12/11 11:53am
Msg #389455

Time to give your LOs a call n/m

Reply by Tim Donahue on 7/12/11 11:55am
Msg #389456

Seems there is a trend to cut fees. What they may not realize (or do not care) is that gas on average is 70 cents more over the past year, paper up by 15%, ink up by an average of 10%, auto insurance up by who knows what. So even if we keep our prices the same, we have already taken a reduction in margins.

I was told by one signing service that they have to cuts fees to be more competitive, but on the HUD their fees were the same, but my split lower.

I see a few notaries advertising closings as low as $50.00 for a full refi. They must be new or part time.

Reply by FeliseSoCal on 7/12/11 12:08pm
Msg #389459

Just got a call from one of my escrow clients...

They pay $200 a closing. And I don't have to print anything. Uh, I think I'll take that one...

Business development! I'd rather spend my time seeking out the higher paying clients than working for the cheapskates! What's the point of working if you're not making a profit?

Reply by nobhill on 7/12/11 12:37pm
Msg #389466

Hear Hear! Revolt Against Greed!

We have the power to say no. They get what they pay for, beginners will take it for sure and take a real risk of screwing up. These banks got huge bailouts. They pay out huge bonuses to their execs and staffs. If they can't afford our services that's their problem, not ours.

Reply by 101livescan on 7/12/11 1:13pm
Msg #389468

When FASS decided I was no longer their fair haired WHITE GLOVE SIGNER because they want to only pay $50 per Chase loan signing, JP Morgan Chase in my area switched to Servicelink who soon followed suit.

So my two favorite ACE loan officers switched their settlement agent to our local First American Title office, pleasing me to no end, because now I get all that work back!

And, the settlement agents are just next door to Chase, the LOs can drop over any time, text message the escrow agents/assistants. They like that a whole lot more than dealing with the east coast operatives. Also, nothing like friendly efficient smiling faces who are in our own community. KEEP THE MONEY LOCAL, people!

Life is good today!

Reply by Claudine Osborne on 7/12/11 9:25pm
Msg #389542

Re: National Link..

I received a call from National Link..They informed me that they will no longer pay an e-doc fee..All closings will now be $ 75.00. I told her that was ridiclous..she said she understood but thats all she could offer..I said Im sorry I cant this for that low fee!

Reply by JanetK_CA on 7/13/11 2:37am
Msg #389548

Re: National Link..

Gee, and I thought the $85 (w/edocs) offer I got from another local title company today was pathetic! I truly felt bad for the person who was making the calls because she sounded very apologetic when giving me the "best they could do" fee. She was shopping around trying to find someone and I got the impression she wasn't having much luck - at least while calling experienced loan signers.

Obviously, setting those fee limits is a pure survival tactic on the part of decision makers at some tc's. Once again, lots of them are probably not going to be among the survivors - especially, imo, the ones whose marketing plan is strictly based on competing on price. Very sad...

Reply by CopperheadVA on 7/13/11 7:10am
Msg #389553

Re: National Link..

How long will they survive when they get improperly signed packages back from their cheap notaries, thus causing funding problems and upset lenders? I just don't see how they could get quality work from such cheap vendors.

Reply by jba/fl on 7/13/11 7:23am
Msg #389554

Re: National Link..

On the flip side:
How long with the notaries last who accept this figures last? How longe before they just fold and there are no more cheap notaries?

Reply by cremevette on 7/13/11 12:17pm
Msg #389588

I agreed - on a trial basis - to do the "one fee fits all e-doc or overnight" idea. In a month I've had ONE set of docs arrive by overnight service and the rest were e-docs. They increased my fee all except one time. We'll see if they short my check or put it through at the approved fee. In the meantime, I have a voice mail to Vendor Management to return to my original fees. When SL sticks to sending out docs overnighted the majority of the time, I'll agree to the fee compromise.