Posted by Kevin/Ct on 4/9/12 9:27am
Msg #417339

Is $75 the new norm?

It seems that all of the calls I have received lately will only pay $75. Is this the new norm with gas up to $4.00 per gallon? What have your experiences been?

Reply by 101livescan on 4/9/12 9:31am
Msg #417340

JUST SAY NO!!! TO THESE LOW BALLERS. This is the final, very important step to getting the loan to close. The loan officer, of all people, should want this to happen. $75 is not enough money for the scope of work. Band together, people!

Reply by negrete on 4/9/12 9:33am
Msg #417341

Agreed n/m

Reply by Penney/CA on 4/9/12 1:20pm
Msg #417368

AGREED!!!!

Reply by jba/fl on 4/9/12 9:48am
Msg #417342

No - definitely not! Only if you let it be. n/m

Reply by Jacqueline Quaresimo on 4/9/12 9:56am
Msg #417343

Re: No. Stick to your fees to put the lowballers

out to pasture. I always negotiate my fee as I am willing to travel, but need to be compensated for same. Wonder if the TC employees earn $75.00 per day for their efforts.

Reply by Lee/AR on 4/9/12 10:09am
Msg #417344

They will try to convince you that it is. Do NOT believe it n/m

Reply by NJDiva on 4/9/12 12:50pm
Msg #417361

AGREED LEE!!! Don't be their fool while they are laughing..

"Re: They will try to convince you that it is. Do NOT believe it n/m"

...all the way to the bank!!!!

Reply by Les_CO on 4/9/12 10:14am
Msg #417345

The Title companies are charging the borrower no less in ‘closing costs’ or for any of their services, and in many cases they charge more now than ever.
If any of us accept these low offers we are enabling the lowball SS’s and the Title Companies now trying to profit from our efforts. We also make it VERY difficult for those that still try and pay their notaries a decent fee. A SS that pays $100 can’t compete with one that pays $75 (or $40).
This is simple, if you want to stay in business, and if you want the “Good Guys” SS and Title alike, to stay in business, you will ALL simply say NO to these offers. JMO

Reply by Les_CO on 4/9/12 10:28am
Msg #417346

PS

Remember our service is FREE to the Title Company! Plus what we do they do not have to do, (have an employee do the closing) thus freeing up their employees time, and in some cases not even having that ‘extra’ worker to do the closings. So PLEASE people…free is good enough! Let’s not start having to PAY THEM to let us do their work. THINK ABOUT IT!!!!!

Reply by MistarellaFL on 4/9/12 11:25am
Msg #417354

Re: PS

Yes, Les!
Food for thought, newbies and oldies alike!
Let me add that, in addition to our services being FREE to TC's, any charges in excess of the NSA fee, the TC keeps, and in essence, is profiting from YOUR ACCEPTANCE of the closing fee ($75 or whatever).
So, if TC charges a mobile closing fee of $150 (U & C around here), the NSA accepts $75, and the TC profits the additional $75.
Does anyone else see this as unbalanced?

Reply by NJDiva on 4/9/12 12:47pm
Msg #417360

DITTO DITTO DITTO DITTO-Do not accept those LOOOOOW

balling fees!!!! I think it's been said already, BUT PLEASE ALLOW THESE theiving, unscrupulous, lowballers to TO GO OUT OF BUSINESS.

You don't take their work, they don't get it covered and the TC's will stop using a company that can't get their closings completed.

Ooooor, they'll realize that we're not idiots who are desperate enough to give them AT LEAST half of our PAY!!!

Stand strong and know that you are worth it. Why should they get as much as we are getting? We put out all the overhead (paper, toner, gas, marketing, auto, internet, phone, insurance, tolls, printers, office supplies, etc. Shall I continue?)

Reply by Les_CO on 4/9/12 2:02pm
Msg #417371

Re: DITTO DITTO DITTO DITTO-Do not accept those LOOOOOW

Why don’t some of these notaries get it? Their answer is “I need the money!” Don’t they realize that this is the very attitude that will eventually put them and others out of business? If you “need the money” ask for MORE! If you like the job, ask for MORE! This gig could be a good full or part time business, done by professionals, working with professionals. It does NOT have to be uninformed, inept, desperate, fools working with thieving scum no-pay, or unscrupulous greedy low-pay companies. Ask for MORE!

Reply by Carolyn Breckenridge on 4/9/12 5:04pm
Msg #417387

Re: DITTO DITTO DITTO DITTO-Do not accept those LOOOOOW

I had one call me this afternoon to do one for 40.00...I almost laughed in the phone. I told him my fee and he said he would call me back. End of story. I am not sure who would take it for 40.00. They must be very desperate.

Reply by JanetK_CA on 4/9/12 5:45pm
Msg #417391

Very important point, Les!

"A SS that pays $100 can’t compete with one that pays $75 (or $40)."

This is something that I don't think enough people get and it's a critical part of the problem. Everyone wants to make more money and, if not working directly for title co's, would like to work for those signing services that pay more. That translates into wanting those good guys to get more work, right?

So every time someone accepts a low-ball fee, they are enabling some outfit that is preying on notaries, devaluing our services, and hurting the good companies (by making it harder for them to compete for the business) that treat their notaries well.

Think about it...! How many times have we heard someone here mention that they've said no to a low-baller, only to get called later for the same assignment by a different company that paid them more. Saying "NO" can make a big difference in your income over time.

Reply by Richard Ingram on 4/10/12 10:40am
Msg #417453

Hold our fees. The low ball companies will continue to find notaries who will accept $20.00 per signing but eventually even they will find it not profitable. As Nancy Reagan said, "JUST SAY NO!"

Reply by Lynne on 4/9/12 6:04pm
Msg #417393

I was contacted by 2 ss just last week. They wanted someone with a lot of experience. Their fees were about $60 for closing with $15 for edocs. It's just shocking. I responded with my minimum fees and said that I was in business to make money, not lose it, and to let me know if they want to reconsider.

Reply by MW/VA on 4/9/12 6:33pm
Msg #417397

NO! NO! NO! Those fees will force many out of the biz

and then where will they be? The borrowers are still paying high fees & deserve a proper closing!

Reply by dickb/wi on 4/9/12 9:41pm
Msg #417419

kevin...good to hear from you..i don't do low ball closings. n/m

Reply by leeinla on 4/9/12 11:21pm
Msg #417426

Right now we are going through tough economic times. SS know this and they will offer you less. They know notaries have bills to pay and it is an assignment after all. When you break it down hourly, you are losing money not making money. I got a call from UST Global. Their scheduler said: "our rate now is $75, and that's what we pay." Sorry, NO CAN DO. I know it is tough to stick to your fees when the phone does not ring, but you got to think about your staying power in this business. We need to say no to these low ball signing services and protect our fees for the long hall. It really saddens me when I hear stories of notaries driving for 2 hrs, completing a loan doc signing, and getting paid $75 for it.

Reply by CJ on 4/10/12 12:43am
Msg #417429

And not only do they offer peanuts, if a mistake is made, who has to go back? And with every job, you don't know if there is a nutcase on the other side of the door who (in an attempt to make sure everything is pefect about the loan), they might actually sabotage it. And then blame you! And we risk losing our license, penalties and jail.

I did have one borrower a long time ago, constantly asking me on every page if this was a good loan and should he sign that page? I kept telling him, that I am NOT ALLOWED to tell him if it was a good loan and whether or not to sign. It was a 2-hour signing and he did sign, but the next day, I got a call from the SS and they said that he told them that I told him it was a bad loan and I advised him not to sign it. I just about fainted! I was SO upset! He flat out LIED! It was going to be my word against his, and I was going to go to jail for his lie.

I said I would never do that, I told him over and over that I could not advise him. Plus, if I *did* advise him to not sign, then why did he sign anyway? That did not make sense.

It turned out that he wanted a lower rate and he wanted a redraw, and he said he would not press charges if I came back at no cost and resigned a new loan for him (which I did.) What a lying, backstabbing monster.

Reply by Eve/VA on 4/10/12 8:19am
Msg #417439

I wouldn't walk out of my door for $75.00 n/m

Reply by BossLadyMD on 4/10/12 11:33am
Msg #417458

Its not the norm, I will not work for that. Minimum is $xxx n/m