Posted by John Elliott, CPa on 7/8/11 10:12am
Msg #389030

Service Link cutting fees?

Just got a call from Service Link who is my number one client, asking me to cut my fee to $45 and $10 to print docs. I currently charge them $125. They promised me I'd be their primary notary in my area for this fee. They also told me they have many notaries who will accept that fee but they wanted to give me the right of first refusal. Told them to go with the other notaries and I would not take a pay cut with higher fuel and supplies costs. I have been with them for about 2 years now with NEVER an issue with my work or fees. What's up with that?

Reply by Linda_H/FL on 7/8/11 10:14am
Msg #389031

Scroll down - discussed yesterday n/m

Reply by laurel/nc on 7/8/11 10:23am
Msg #389032

Re: Scroll down - discussed yesterday

I haven't had the infamous call yet but I am expecting it. My area isn't saturated with Notaries and I am guessing that is why I haven't heard anything about it yet.

Reply by CorpJen on 7/8/11 10:25am
Msg #389034

Re: Scroll down - discussed yesterday

Think the only reason they are cutting fees is their business is down

Reply by jba/fl on 7/8/11 10:47am
Msg #389038

Re: Scroll down - discussed yesterday

Then they could reduce their office expenses just as the rest of us do.

I cut expenses; my vendors don't necessarily do the same (gas providors, electric company, etc) and sometimes they go up. So I cut more expenses.

I am not a SS expense.

Reply by John Elliott, CPa on 7/8/11 10:55am
Msg #389040

Re: Scroll down - discussed yesterday

Have any of you had this call from them yet? And can you believe they would have the nerve to ask a professional certified notary to work for a $45 plus $10 doc printing fee? Would anyone of you out there do a refi closing with docs and fax backs for $55?

Reply by Linda Juenger on 7/8/11 11:06am
Msg #389042

John sent u a pm n/m

Reply by garland/CA on 7/8/11 11:08am
Msg #389044

I have

I got a call several weeks ago. The fee offered me was a bit higher (still under $$$) - perhaps there are less notaries in my area. Still, I cannot work for that fee and be a profitable business. I honestly don't understand how anyone can work for $55 - 85 WITH edocs, travel, and all the other expenses we know we have. I really don't think they realize our expenses. Most likely they calculate $5 for printing and about an hour of our time - so not a bad fee. In reality we all know that isn't true.

Mobile in-home signings are a convenience for the borrower (and title and lender) and should be rightly compensated for. The agencies involved no longer see them that way. Honestly for the stress and inconvenience to us (last minute availability, no paid vacations or sick leave, no benefits) I would rather work at a regular job paying that hourly rate. A contracted worker has to build all these missing elements into their fee.

I can't help but think they will hurt themselves more by cutting fees. It will be hard to find notaries, and certainly not experienced notaries.

Reply by Karla/WA on 7/8/11 11:19am
Msg #389048

Re: Scroll down - discussed yesterday

No....you are absolutely doing the right thing to refuse this work....I just wish all SS/Title companies would utilize the notary fee on the HUD and include our fee as a separate line item and have the borrower pay the fee.

Lenders pass on recording fees, lender fees, title, appraisal fees on the HUD....why is it that a service these borrowers so appreciate and there is a professional conducting this service (for their convenience) that the fees are wrapped into escrow fees? Courier services are included on the HUD and passed to the borrowers....why not notary fees?

Reply by Lee/AR on 7/8/11 11:11am
Msg #389045

Please don't drink the KoolAid

Business is undeniably down for them/us/lenders...everyone, everywhere. So they are looking to cut their costs, as we all are. Problem is: I'm not finding cheaper gas, toner, paper, phone, internet, etc. Frankly, I'd rather sit at home than work for less than minimum wage and be available when a decent-paying job comes in.

My question to them is: If you have 'many who will accept' go-broke fees, why do you keep calling everyone? Because, perhaps, you haven't found 'many' who are willing to work for nothing??? Lenders and Title Co's are simply not my most favorite charity.

Reply by topflyt on 7/8/11 11:21am
Msg #389049

Re: Please don't drink the KoolAid

I'd print and fax back docs for $55...oh, am I expected to have them signed too? I DON"T THINK SO!!!

Reply by John Elliott, CPa on 7/8/11 11:32am
Msg #389053

Re: Please don't drink the KoolAid

I work for 28 title companies and signing services and no one has ever offered me these rediculously low rates. In fact, Service Link has always paid a higher fee than anyone else. So I could accept a reduction, although my costs keep escalating like all your do. But a 50% reduction is an insult. Where else can you cut fees for services by that much at one time? Any of you out there willing to do a professional signing, in home, with printing over 200+ pages and fax backs for $55........don't do it. You'll kill our business.

Reply by kathy/ca on 7/8/11 11:36am
Msg #389055

They were already getting a very good deal from you if they

cute your fees by a "50% reduction", are they "cutting off their nose to spite their face"? I do very little signings anymore due to the fact that there is not a lot of business anymore and when there is the fees offered just dont cut it!

Reply by Moneyman/TX on 7/8/11 12:20pm
Msg #389063

Re: Please don't drink the KoolAid

"...has always paid a higher fee than anyone else..."

And you say the new offer is ONLY 50% of what they used to pay?

Not trying to be mean to you, but this can be a teaching moment for everyone. If you, a SA that previously accepted signings for around $90 (using your 50% example) while others were charging $125-$175, are being asked to accept even lower fees why should anyone think that it is in their best interest to accept lower fees from this or any other SS?

It looks like they were already giving you a glass of KoolAid and now want to offer you a pitcher of it at a time.

Reply by kathy/ca on 7/8/11 12:33pm
Msg #389068

Money, Thats what I was trying to say in my earlier post,

they were already getting a good deal from you and now they want to reduce that fee further by 50%????? Ridiculous!

Reply by JandB on 7/8/11 12:51pm
Msg #389072

Re: Please don't drink the KoolAid

When you live in TX or CA you have no knowledge of what the market will bear in PA. 50% is a little low but not that much. I have quoted higher many times and lost the job. $125-$175 is a non started in my area and you should reserve you judgement for your own market. Not to be mean but MHO

Reply by kathy/ca on 7/8/11 1:18pm
Msg #389083

At $45-$55 there is no money to be made not matter what

market you are in, you still have all the same costs and at that rate, you cant make anything. I am not knocking the $90 fee he was getting before because at least that amount could turn some profit although not much.

Reply by JandB on 7/8/11 1:42pm
Msg #389092

agreed

and for the benefit of any PA newbie who might be reading this, it's more likely his fees range from $90 to $115 w/most at the $100 price. Sorry I got snippy there. I guess I'm jealous of TX and CA.

Reply by Moneyman/TX on 7/8/11 12:07pm
Msg #389061

"...but they wanted to give me the right of first refusal."

LMAO! Is that what they told these other suckers that they claim they already have accepting these low ball offers?

So many lies in their "scripts" it's pathetic.

Had another SS call me yesterday for a signing today. When I asked what they were offering the reply was "We normally pay $75." I told them my fee would be $125 for this particular assignment. They accepted. Received the HUD and the SS was being paid $175 (yes, directly to the SS). On this one assignment this SS wanted to make $100 for a phone call! Received the docs from title directly so the SS didn't even have to send an email with docs on this one. LOL

If people want to think that the SS are not charging the same or more than they have been in recent past, get a clue!

Reply by jnew on 7/8/11 12:44pm
Msg #389071

Re: "...but they wanted to give me the right of first refusal."

I think that ServiceLink is adapting to a part of their competition who have successfully provided signing agents to the title company at dirt cheap levels. (e.g. ND) If there are few SAs in your area, you will be able to maintain higher fee levels. If you are in an area which is saturated with new or existing SAs you are going to lose a lot of signing company business if you don't accept lower fees. The ND model is to get the best available signing agent at the low price. They try to control all the quality factors, hence, the SA has to fax a large part of the package to the signing company. If it is wrong they send the SA back on his or her nickel to get it right. They don't have to rely on the SA to do quality work. They will take quality if they can get it, but they don't seriously expect it with the way their price setup is. The only way anyone is going to make a buck with signing companies is to hope that the mortgage demand goes high enough to provide a lot of work for everyone. Lots of luck there!

Reply by Jack/AL on 7/8/11 1:47pm
Msg #389095

Got my call

SL called me on Wednesday, wanting to overnight docs to me for a 6:30 PM Friday signing, for $45. I'd rather stay at home without the $45, so I announced my fee. Polite lady explained that she'd have to search for someone who woulld go for the $45, and that I'm in their "system" for $45. I tried to be polite and did not ask what she'd do if/when her boss asks her to continue working at her job, but for only 40% to 60% of her current pay. I requested she change my amount "in the system" to $$, but she could not. A different person called me twice on Thursday, still offering $45 for that signing. I'll be at home with my lovely wife tonight. No regrets..............

Reply by irish/WA on 7/9/11 1:55am
Msg #389141

Re: Got my call

If we all stick together and refuse to work for those ridiculously low fees they will eventually have to pay up. Remember, they can't exist without us!

Reply by oldhippie_IL on 7/9/11 8:20am
Msg #389146

Re: Got my call

I have not received one call after I told them I would not do closings for that fee. Someone is taking them. What a shame.

Reply by Laura Ross on 8/22/11 3:13pm
Msg #394527

I have never had Servicelink try to cut my fees, guess I'm lucky. I charge $100 for the signing, $25 for e-docs, extra $$ depending on where I have to travel. It's easy to say no if they don't agree to your fee. I have done it, but I'm rural and they really don't have a choice! Good luck, just wished they paid a little more timely.