Posted by BillyJack/NC on 3/23/11 1:22pm
Msg #377241

NREIS

Has anyone received their checks for invoices 45-75 days old, like
they promised?

Reply by desktopfull on 3/23/11 1:25pm
Msg #377245

Use the search button, tons of info, long time slow pay! n/m

Reply by Kathy Van Klinken on 3/23/11 2:12pm
Msg #377259

Yes, I just received payment for November and December. They have always paid, but usually
60-90 days.

Reply by TacomaBoy on 3/23/11 2:21pm
Msg #377265

Well, a Mr. Big, Fred Lombardo, from NREIS telephoned early this morning. He works in the
"Client & Vendor Relations Department" of NREIS . He read my "Scud Launched - NastyGram" and said that the company is finally over the cash flow hump that is causing us notaries not to get paid.

The company has arranged for a "cash infusion" into itself, which means NREIS can now start clearing up past due notary invoices. Accordingly, those invoices that are 75+ days past due will be brought current during the next two weeks. IBIWISI

The guy seems sincere and truly chagrined when I spoke with him and even gave me his direct telephone number in good faith, but . . . .

Fred Lombardo, 800-753-3339 X7132, is waiting for your telephone call! ;-)

Reply by Shoshana/AZ on 3/23/11 2:32pm
Msg #377266

I was promised that those 75+ days checks would be mailed on

3/22/11. That was yesterday. The 45-75 day checks would be mailed on 3/31/11. He said that going forward, checks would be mailed within 45 days.

Reply by GWest on 3/23/11 2:51pm
Msg #377275

Received Monday, check was dated 1/14/11 n/m

Reply by topflyt on 3/23/11 9:22pm
Msg #377324

Re: Received Monday, check was dated 1/14/11

Who in their right mind would wait that long? If I don't get paid the following month, their phone doesn't stop ringing!!!

Reply by brass/LA on 3/23/11 10:03pm
Msg #377326

Received check on 3/22/11 dated 11/30/2010.. n/m

Reply by JanetK_CA on 3/23/11 3:42pm
Msg #377284

NREIS Client Relations info

I just got another call from them to do a modification 50 miles away (the scheduler said it was 30...) You can guess what that outcome was! I mentioned that they still owed me for one I did in January (right in my neighborhood) and she offered to pass me over to Client Relations.
The gal in Scheduling told me that she wasn't supposed to give out the extension for Client Relations but could transfer me.

I reached Kristin in Client Relations (didn't even get into a queue!) who also said that by the end of this month they expect to have paid anything 75 days or older. After that, they will start catching up on invoices 45 - 75 days old (which will take about 30 days). Then by end of April they expect to be on their "normal" 45 day payment cycle. Kristin gave me this number to reach anyone in that department: 800-753-3339 x7132. She said anyone who answers could help.

I'm guessing that most of the negative posts about them have come either from people who have never worked for them but have been reading continuous complaints about them not paying, and from newer notaries who have no long-term experience with them and are the ones posting that they haven't been paid. It's probably mostly newbies who would accept their fees - and poor paying history - anyway. But some of us remember when they used to be one of the best out there (but then they were paying $140 for a refi... )

As for the future, once they're caught up I might consider working for them again, but it would depend on $XXX, who the client is and how far they want me to travel. (I'm still not going to drive an hour one way to do a Spanish modification for $45 - $65! Been getting lots of those calls lately.)

Again, I'm not defending them, but I think it could be helpful to distinguish between the ones with outright fraudulent intent and those who have run into financial challenges for whatever reason. (With NREIS, it seems that part of it was the legal challenge they had to defend from the state of Massachusetts, BofA not paying them timely, etc.)

Only time will tell if they manage to survive or if they end up as another one that goes down the tubes owing people. I''m guessing that they will survive, but at least for now, I'm not willing to bet on it by accepting assignments from them - unless they're ones that cost me very little time and no out-of-pocket, like the mod I did in January, where I just showed up for a few minutes a few blocks away. And I'm hoping they do make it - and then decide to raise their fees again! (Well, I can dream, can't I?)

BTW, for clarification for anyone who is really new, a modification is nothing like a full signing. There are usually just a couple of signatures to notarize and I often don't even bother to sit down. Docs are typically less than 20 pages and sent to the BO's in advance, so you usually don't need to print anything. I would NOT do a full signing for anywhere near $50 - even without printing!

Reply by desktopfull on 3/23/11 2:41pm
Msg #377272

ROFL!!!!!!!!! And..........if you believe that, then maybe you'll believe this. Got a call from SOX, they are under new management and want all notaries to know that they will be paid as promised.

Reply by Shoshana/AZ on 3/23/11 2:47pm
Msg #377273

I have worked for NREIS for about 8 years now. They will pay. They have always met my fee.

Reply by desktopfull on 3/23/11 4:29pm
Msg #377294

I worked for them for over 8 years, last year I didn't get paid for my Nov 09/ Dec/09 closing until the end of March and first part of April. I'm not a bank and refuse to provide interest free loans to title companies that are paid by escrow when the loans close. Then to add insult to injury they filed a false 1099 with the IRS claiming I had been paid before Jan 1, 2010 for the Nov & Dec closings, they wrote the checks and didn't mail them until March 22 & April 8, 2010. Yes, they have always eventually paid their notaries, but you never know when. Generally, when a company starts doing this the next form you get is the bankruptcy notice, remember LFC?

Reply by pat/WA on 3/23/11 3:10pm
Msg #377278

I called Mr. Lombardo's office, I was told the checks for December, January and February were written. But they had not been mailed.

Reply by GOLDGIRL/CA on 3/23/11 3:32pm
Msg #377282

According to another notary, NREIS has "Valid for (so many) Days" on their checks - and by the time you get checks written in December, they may be too old to cash. Happened to him.

Reply by JanetK_CA on 3/23/11 3:51pm
Msg #377287

I was curious about that, so I called and asked them. I was told that their checks are good for 180 days. Can anyone who recently got a check from them back this up? I looked at a copy of a check I got in December from one of their sister companies and that one says 90 days. But that group was paying on time - I got it within a few weeks.

Reply by desktopfull on 3/23/11 4:33pm
Msg #377296

Be sure and verify your 1099 that they send you, last year they added what they owed me for Nov & Dec and I didn't receive the money for another 3 months. This warning is for those that use a cash basis accounting system, not accrual

Reply by Shoshana/AZ on 3/23/11 4:43pm
Msg #377298

That's not a problem for me.

I always go according to my records, not the 1099s. I am reporting my income than what is reported to the IRS. I don't want to tangle with them, thank you.

Reply by Anita Edwards on 3/23/11 2:59pm
Msg #377276

I got a check today for an invoice that was just over 60 days and I didn't even have to call and ask for it. Does that make me like them more? NO. I'm done with them.

Reply by Pam/NM on 3/23/11 3:59pm
Msg #377291

Got a check yesterday for a September closing...check was dated NOVEMBER 30. Never rec'd a 1099 b/c did so little work for them. The September closing was literally down the block--walking distance. Nope. Shoulda known better. Won't do it again. sigh