Posted by 101livescan on 9/13/12 9:11am
Msg #434184

In this season of lending, ANALYZE THIS!

One more thing about working directly with LOs and Title/Escrow, if the borrower feels the least bit inconvenienced (procedural road blocks in the process), or feels that the "signing agent/notary" is not worth their salt, this is the line item they try to get expunged from the list of costs to them.

I see it daily. WHY DOES THE NSA GET SO MUCH? It only took an hour (or less) to do the signing, is this really necessary? "I don't think I should have to pay that!" Well, darlings, the state sets the fees for notarization in CA, and the balance is our service to get the package ready for resubmitting docs and getting in line to close, TIME IS OF THE ESSENCE. There's more here than meets the eye. Docs have to be packaged and DOT pulled for recorder, then get into courier service for delivery next day.

Well, the package might likely get kicked back if everything is signed perfectly accurately, the correct verbiage in all sub agreementss (mostly don't have the right lingo in their acknowledgements because they are out of state documents in CA packages), missed initials, etc. not dating correctly and consistently, all kinds of things can get the UW/prior to funding person to kick it back, only then does anyone see our real worth.

All this is why I believe to work for $100 or less is near poverty level for NSAs. And I definitely know that $150 is middle of the road expected to pay charge for most title companies I deal with, NATIONALLY, not just locally, printing extra.

Have an awesome day!

Reply by Marian_in_CA on 9/13/12 11:41am
Msg #434212

"state sets the fees for notarization in CA"

Well, I think that's the problem...and a lot of people know it. The state does NOT set the fees for notarization, they only set the maximum we can charge per signature. We set our own fees. We don't have to charge anything if we don't want to.

But yeah.... I'm with you on the rest.

Reply by Patriot on 9/13/12 1:18pm
Msg #434231

I think the true problem is not with the fees, but with the signer. That is a rude and insulting thing for a signer to say to someone who has printed documents, drove to a new location, met privately with a perfect stranger and brought them highly personal documents that are important to the signer. I once actually told an incredibly rude signer this: "Other than the fact that I print your documents, use my material and technology, drive my car and use my fuel, handle the document and ensure they are sent back to title accurately and quickly, I don't know your loan agent or anyone associated with this transaction including you. I am in your home on your turf with your personal information and I am sure you are not questioned the same when you are at your place of employment. I.D. Please". Honestly, this guy was a piece of work, but amazingly he shut up. Other times I have made similar speeches but not nearly as harsh and the signer replies, "yeah that makes sense".

Reply by ikando on 9/13/12 1:24pm
Msg #434235

I make the same comments to GNW lookee-loos. They call and ask, "How much". When I quote a reasonable fee to stop what I'm doing, get in my car, travel to them, ID them, wait while they decide exactly what papers they want me to see to be able to complete the notarization, get back in my car and back to what I was interrupted from, I get a response of, "That's too much." One of these days I'm going to ask them what they would charge for that service. It probably won't get me the job, but it may open their eyes.

Reply by snoopdogMs on 9/13/12 2:19pm
Msg #434246

Party asks could they have cut their costs had they

closed in their old location up north before they drove south. I asked what costs was he was referring to. He said "Your fee". I spent 1.5 hour with them and frankly could not believe one would say such a thing since I was closing in the convenience of their not so cheap new home.