Posted by TacomaBoy on 5/19/11 4:18pm
Msg #383739

Notary Direct

I can't understand how these folks expect us to stay in business by offering only $50.00 for a Reverse Mortgage Application. No notary work but, the RM apps I've seen run around 160 pages with some fax back requirements.

Reply by Les_CO on 5/19/11 4:30pm
Msg #383748

It’s my understanding that $50 is about the going rate (maybe $75) with the ‘promise’ of getting the full fee signing if the deal flies. Is it worth your time, I think it depends on the company, and your experience with them. JMO

Reply by Linda_H/FL on 5/19/11 4:37pm
Msg #383750

I get $75 for RESPA signings within my county - more for travel to outer counties.

Reply by TacomaBoy on 5/19/11 4:44pm
Msg #383751

Notary Direct

I do perform application work for other companies who pay significantly more, but Notary Direct is always on the lower end of the fee spectrum. I work for them from time-to-time; they are a good company. Their fees are just too low for the time & distance requested sometimes.

Reply by C. Rivera Chicago Notary Services on 5/19/11 6:56pm
Msg #383781

Linda, how large is your county?? For my county, we have

a population of about 5,194,675 (2010 US Census) and we are the nation's second most populous county after Los Angeles (Chicago Tribune) and my county includes not only the Chicagoland area, but many suburbs.... my fees are not based on county, rather on the city of chicago area, and the many suburbs surrounding the city...

I just don't see how $75.00 is going to pay for my gas

....$75 bucks ONLY if the BO are walkin' into my office.

Reply by Linda_H/FL on 5/19/11 7:02pm
Msg #383784

Re: Linda, how large is your county?? For my county, we have

I might go 35-40 miles rt...

2009 U.S. Census Bureau estimate 69,624 - my town has a population of 450...

Reply by C. Rivera Chicago Notary Services on 5/20/11 9:55am
Msg #383823

Sort of wish I was in your rural shoes! he he... n/m

Reply by Sal Servin on 5/19/11 4:46pm
Msg #383754

Remember you're only WORTH for what you NEGOTIATE.
Some Notaries don't mind working for less then minimum wage.

Reply by nobhill on 5/19/11 9:38pm
Msg #383799

Don't do it, it's not worth it. It's pure slavery you're considering. They lower your fee to get the contracts with the company and make you suffer. Simply don't work for them.

Reply by Susan Fischer on 5/19/11 9:52pm
Msg #383800

Not to mention the collection of a specific list of docs

from applicants, the variations of circumstances, and so much more.

For me, the Reverse Mortgage is a special genre of our work. My time is what I have to offer - and my time is valuable in plying my trade. It doesn't turn on a Stamp. It turns on Service. Genuine, old-fashioned Personal, Face-to-Face Service.

For this silver haired old lady, the specialness of this genre is that it's one of the most enjoyable kitchen tables at which, I'm privileged to to work. Therefore, my fee is my fee. I don't bank on "promises" of an uncertainty.

Reply by Illa/NC on 12/23/11 8:01am
Msg #407428

Notary Direct

I had a RM application for Notary Direct last night. The borrower refused to sign. As an example of questions he wanted answered, one related to the fact that he was told over the phone that if in the future the real estate market should make another dive and his house should lose most of its value he could “buy back” the mortgage at current value. He wanted to see information that in writing before he signed the application. When the loan processor was asked that question tonight, she replied that was a true fact; however, when she was asked where that would be in the set of papers he had to look at tonight, she did not offer a specific document he could look at, only that once the application was signed she would be able to answer all his questions. Borrower had shared with me when I first called him to confirm the appointment that loan processor told him that the person bringing the application documents (that would be ME!!) would be able to answer all his questions. Well that simply is not true when it comes to technical questions such as the one above. He was also under the impression that the notary was an employee of AAG. That's not true either! At day's end Notary Direct has removed ME from their list of notaries and remain loyal to companies like AAG who do not tell the whole story. IMHO I think I got the better end of this deal in the long run b/c will not be dealing with this type of nonsense. We'll see how fair Notary Direct will be in paying me for my printing the 140 pages, driving in a horrible rain storm 30 miles round trip and spending an hour with the borrower trying to save the transaction.