Posted by KSMONotary on 9/8/11 3:32pm
Msg #396749

E-Signings

I have the equipment necessary and I have watched several of the esign tutorials. I just searched for similar threads, but the majority of them are a bit dated.

Are many of you seeing an increase in requests for these closings? I keep getting them, but turning them down. Trying to gauge what I would charge, standard fee?

Any feed back is greatly appreciated

Reply by Yoli/CA on 9/8/11 3:53pm
Msg #396754

I do e-signings infrequently. Had one a couple of weeks ago. Had call for one this week - out of my servicing area (2 hours' drive from me).

Insofar as the fee, I charge slightly more than for an e-doc signing simply because I'm required to have my own equipment - laptop and air card or wi-fi access. This latter is an added expense for me. You'll have to gauge for yourself what you need to cover your expenses and make a profit.

They're generally not difficult; take about the same time as a regular signing; you still have to print about half the docs you normally would.

Reply by Alz on 9/8/11 4:26pm
Msg #396759

My September is a little slower than normal, but I am encouraged that it will pickup.

For some reason I thought you moved here because one of your daughters were going to attend college. Maybe I confused it with another NSA that moved to the area. Were you able to get linked into the Old Republic Offices in your area? Hang in there.

Reply by Alz on 9/8/11 4:32pm
Msg #396761

Oops....I wish there was an edit or delete button here. n/m

Reply by Karla/WA on 9/8/11 4:45pm
Msg #396763

I've done many esignings with both Fiserv and Amtrust. I charge about $50 more for these, because they always take at least 45 minutes of my time. I really don't want these to catch on because, even if you have a good working knowledge of the system, the borrowers seem to focus so much more on the technical aspect of getting the loan signed, rather than the nuts and bolts of their loan. The leave behind package also, does not included payment info, or the note!

I always ensure the borrower has access to the internet so that I don't have to have a card for my computer. I'm happy to meet with folks at a WI-Fi free establishment, but as these are few and far between compared to the traditional signings, it's not cost effective for me to purchase the card.

Also, it's important to understand which browswer the portal is compatible with. Usually, these only work on PC's (rather than Apple computers) and the browser needs to be Internet Explorer (rather than Mozilla, for instance). The folks who are scheduling these appointments do not ask those questions, so it's up to you to ensure you have the right equipment/programs so the signings can go as sheduled. This assumes you are using the borrower's equipment.

I've learned the hard way....make sure you access the docs prior to your signing, and understand the system, so you have a good technical knowledge of these issues in addition to confirming with the borrowers they have the necessary access.
Good luck.

Reply by MaggieMae_CA on 9/8/11 5:24pm
Msg #396767

I'm not big on doing eSignings. When I first started doing them the companies tried telling me that since 2 loan doc packages weren't being printed, they wanted to pay less of a fee. With the cost of a monthly aircard, the time it takes to sign the e-portion of the package, I feel the fee should be higher than eDocs.

Logistic issues: If you have a husband and wife they are crammed infront of a laptop screen and one can't read as fast as the other. If you're in an area where the signal for the aircard isn't very strong, it's just a hassel.

Some of the companies are saying you cannot use the borrower's computer and must have your own equipment.

Will I do them again? Yes, for the right price.

Reply by JulieD/KS on 9/8/11 6:14pm
Msg #396776

I, too, have the equipment (laptop and aircard) for esignings and have studied long and hard on how to do esignings. I won't accept a dime less than $150 for an e-signing...and that's with a radius of no more than 15 miles. The equipment doesn't come cheaply and although I didn't buy it specifically for signings, I still have it and pay for it. If lenders want to use my techology for their benefit, they will have to pay extra for it. Of course, I'm sure they won't want to....so I will decline until they do. Signings are starting to come back...and the fees offered are going up. I have infinite patience.

Reply by BestFlCloser on 9/9/11 9:40am
Msg #396854

I Agree with Julie

I too have all the equipment for eSignings and do them frequently. I do post a similar surcharge for doing them as well. The eSigning benefits the bank and/or title company, so why shouldn't we be part of the benefit. BTW, when it comes to eSignings, I burn a CD with all the docs and hand the CD to the bo's. They can print it if they wish, but it does make a more elegant package.