Posted by Bob_Chicago on 4/27/12 9:57am
Msg #419117

Good new for our biz.


The following was in a title industry newsletter that I receive.

"Fidelity net earnings increase 75 percent
Industry news
Fidelity National Financial Inc. reported a net earnings increase of 75 percent in its first quarter 2012 earnings release, along with several other large gains including commercial revenue, open orders, direct agency premium and more

First American open orders at highest level in 3 years
Industry news
First American Financial Corp. achieved its highest pretax margin (6.8 percent) since 2006 as commercial transactions continued to drive revenues, and open orders reached a three-year high. Read on for more of the details from the national underwriter’s first quarter 2012 financial report and conference call. "

Did not post the part where they are planning on sharing their good fortune by increasing the signing fees paid to NSAs. Must be WAY at the bottom of the article.

Reply by Lee/AR on 4/27/12 10:39am
Msg #419121

Addressing the last sentence....

The reason they aren't sharing their good fortune is because they don't have to due to the fact that far too many have agreed to pathetic fees....half or less of what I was gladly offered nearly 20 years ago.

Some days I feel like I'm holding the fort alone and the cavalry will never get here.

Reply by Shoshana/AZ on 4/27/12 10:57am
Msg #419130

Re: Addressing the last sentence....

Lee, I feel your pain. This week I was called by ISGN who offered me $XX for a signing. I said no. My fee is $XXX. "But this is in Gilbert, tje same city you live in." I said no and stood my ground. This is the same fee you paid me 10 years ago when I started in this business. I said goodbye. He called me again 10 minutes later and agreed to my fee. Then i got a call a little while later from another ISGN scheduler who offered me $XX. I said my fee is $XXX and that is what your other scheduler is paying me today. You're welcome to go look for a notary who will accept $XX, but I guarantee their work is not going to be as good as mine. Well, he too paid me $XXX!

Reply by Diedra/TX on 4/27/12 2:14pm
Msg #419163

Re: Addressing the last sentence....

As a new notary, figuring out my standard fees hasn't been easy. The first one I took was for lower than I wanted, but not by much. I took it despite the company history of non-payment. It was a MH purchase.

Today, I got a call from Equifax Settlement Services, they asked ME what my fees were. I told him what I had set for my standard fees for what he was asking, $XXX. He said he would have to get approval, but called me back a few minutes later and agreed to my fee. Once I got home, I checked them out here, found out that there have been some major pay problems recently and politely told the company rep that due to their history of non-payment, I had to ask for payment in advance for the signing. It took about 10 minutes and he told me to disregard as the signing had been assigned to someone else. I am ok with that. I know this has happened many times to many NSAs and sometimes the company even calls them back and agrees to pre-pay. While I needed the experience, I didn't need to drive 20 miles and do a full re-fi at no charge. I am holding my ground and holding the fort as well.

Reply by JanetK_CA on 4/27/12 3:19pm
Msg #419177

Thank you, Diedra!

Your decisions put you squarely on the side of being part of the solution, not part of the problem. And I know those are tough decisions to make.

I might also suggest to all that if a company has a long track record of non-payment, that the way to deal with them is to decline outright and make it tough for them to find notaries to take their assignments at all, under any circumstances. By accepting pay up front, we enable them to stay in business and continue to prey on those who either don't know any better or who don't care. If they aren't able to fill their assignments, the title co will have to give their business to someone else - hopefully another company that treats their notaries better.

This is clearly an uphill battle, but if we keep working at chipping away at the problem little by little, there's at least hope of making a difference.

Reply by Donna McDaniel on 4/27/12 10:59am
Msg #419132

Re: Addressing the last sentence....

Not necessarily true, Lee. I have been getting 15 - 20% more for signings lately.
I ask, they pay.
I believe the busier they get, the less tolerance they have for sub-standard work and are willing to pay for our services.

Reply by Riley/FL on 4/27/12 11:08am
Msg #419139

Bob, do you have a link to the article? n/m

Reply by Bob_Chicago on 4/27/12 11:19am
Msg #419140

Sorry, No. Comes as an email. You can not access anything

beyond what I posted without a paid subscription. ( several hunded $$ per year) I do not subscribe either, but still get the emials.

Reply by jnew on 4/27/12 11:46am
Msg #419149

Yahoo report on FNF

http://finance.yahoo.com/news/fidelity-national-financial-inc-reports-200300950.html