Posted by mobile2goFL on 8/28/13 8:24am
Msg #482325
FASS is it worth it
I have read many of the posts here about fass. and I am not sure if it is worth signing up with naa and paying $99 to get backround checked. they also want me to agree to a $50 signing fee with $25 doc fees. if I agree to this can I change it once I join them? any tips would be nice for I am on the fence right now as far as what I want to do.
mark
| Reply by Yoli/CA on 8/28/13 8:41am
Msg #482327
FASS is the SS for FATCO. Only you can decide what fees keep you profitable. Remember, you are a business ... not a charity.
FASS pays within a week or two. My base edoc fee is $125. That covers up to 15 mile radius and no more than 130 page pkg. Any further, any fax-backs, any larger pkgs, etc. incurs a higher fee. FASS took me off their "white glove" program 'cause I was unwilling to accept their $50/$75 fee. They still call me when they can't fill an assignment with a low-fee-accepting NP. The last signing I did for FASS was 8/14/13 for $350 for a signing 1-1/2 hr. drive from me. I received payment 8/19th. This last is typical -- they call me for long-distance signings=higher fee signings usually once or twice a month.
Hope this answers your question. 
| Reply by 123close on 8/28/13 4:26pm
Msg #482394
With the slow down, we will see companies drop their fees and those willing to accept the drop will have some work for awhile. I've been of the opinion that if we hold our ground on fees then they will eventually be unable to find notaries to work for a lowball figure and return back to paying a fee that is more fair.
| Reply by Vee/MD on 8/28/13 7:15pm
Msg #482407
I agree. We have to stick to our fees or we all LOOSE in the long run. They certainly make enough per loan to pay us reasonable fees. Mine is $125 too. As someone else said...this is BUSINESS not a charity.
| Reply by John/CT on 8/29/13 8:55am
Msg #482448
Unfortunately, there will ALWAYS those who will take lowball fees, thinking they'll make it up on volume.
| Reply by Treasure Valley Notary - Tina on 8/28/13 9:21am
Msg #482332
Lots of Emails
I haven't done very many FASS signings in the past couple of years. They only pay my fee when they are desperate. They want "white glove" service but pay McDonald's value menu prices. That is not a part of my business plan.
What I find funny is that over the past 2 weeks I have gotten about 10 emails from them. Not for signings in my area, but passing along complaints from their clients. "This basic signature was missed, info not filled out, no initials on this page, how to do your notarization, etc, etc, etc."
I don't feel sorry for them. They pay a low ball fee and a lot of times they are getting a low ball quality signing agent. I figure if a signing agent doesn't know what their services are worth, they also don't know how to run their business with a profit, and they more than likely do not have experience as a signing agent (these are assumptions and I know not 100% right - all the time). As a consumer I pay top dollar for this service, but too many times the consumer is given the bottom of the barrel service. And yet this is their largest purchase that they make. As a consumer finding this out, I would be livid. But it is the way the system seems to work. Which does not make it right.
To answer your question, $50 is not an acceptable fee, even with $25 for edocs. You will have a minimum of 2 hours time for this assignment. Maybe even more with travel and inexperience. That is $25 per hour. But now you have to deduct your taxes (let's say about 35%), expenses (auto, computer, internet, phone, paper, printer, toner, etc - this list varies from office to office, but those are some of the basics), insurance, advertising, etc. Taxes on the $25 per hour at 35% is about $8.75. Other expenses can be anywhere from $5 to ??? depending on the office and how tight you run your ship. But let's say it is $10 per assignment, which may really be LOW. So you are now at $18.75. You, the lucky winner of that assignment, just made a whole $6.25 per hour (I did not address the $25 edoc fee which will offset some of these expenses). WOW! Don't know about you . . . but sign me up . . . NOT! Even with the $25 edoc fee, my time is worth more than this. IF I don't make a profit, why the heck am I even being in business? We decide if we are a charitable institute or not. And if you are going to act like one by accepting these ridiculous fees then apply for the 503c and do it properly. Or even smarter - get a J.O.B. In the long run you will be miles ahead.
Not trying to hurt any feelings. But sometimes things just need to be said in black and white so that reality can sink in. You are in business . . . it is time to act like it. If you aren't sure what to do, what to charge, how to operate . . . then contact the Small Business Administration and/or SCORE for help. They offer great services. But get things figured out quick before you run yourself into the ground literally. Most small business owners don't even make it their first year. Those that do are gone by year 3. And 99% of the time, it is because they didn't do their homework and run their business smartly. Don't be a statistic. Best of luck to you. (You need some of that too!)
| Reply by JanetK_CA on 8/28/13 4:28pm
Msg #482396
Awesome post for newbies! Pretty honest assessment! n/m
| Reply by HSH/WA on 8/28/13 10:50am
Msg #482348
Re: Consistently been my best SS. Will pay $XXX.
Always pays quick. You need a BGC and the one from NNA is usually acceptable. I have never been concerned with white glove. In this market, don't turn your back on Fass.
| Reply by Linda_H/FL on 8/28/13 11:02am
Msg #482350
I've never worked for them...but I can tell you there
is one notary that I know of who is a member here who can tell you can absolute nightmare story about FASS and their treatment of their notaries. You're right, don't turn your back on FASS - from what this notary has reported, they have no problem stabbing that back....
Precise info here for the searching.
| Reply by jnew on 8/28/13 11:47am
Msg #482358
Their company philosophy toward notaries is that they are "dime a dozen" and will work with those who accept their terms and really don't care about the rest. They have every right in the world to do that, by the way. My problem was the cost factor for the notary was never taken into consideration. Taking a lot of work from a low paying customer limits your opportunity to accept higher paying jobs from other customers. Not being paid extra for travel is also a variable which limits your time available for other work and does not compensate you for the extra travel and time. They are excellent payers and very efficient closers, but that doesn't put bread on my table.
| Reply by jnew on 8/28/13 11:49am
Msg #482359
Excellent payers = on time payers, not amount of payment n/m
| Reply by Marian_in_CA on 8/28/13 12:40pm
Msg #482368
Let n/m
| Reply by Marian_in_CA on 8/28/13 12:54pm
Msg #482369
Oops... Let's put it this way...
This year, the NNA's keynote speaker was Sam Zaki, who basically pushed FASS and was the one who said that the notary was the "most essential part" of the loan process.
And yet... to compensate for that apparent recognition, they generally refuse to hire notaries for fees that even cover their expenses, much less make a living.
I've never been able to get on with FASS, I refuse to agree to their fee structure. BUT, individual people from FirstAmerican Title will call me and send me work directly and gladly meet my fees. The last one I did paid over $200 because it was a last minute, late-night thing where I was fixing a major mistake by another local notary. The title officer called me in a panic and more than once said, "I don't know why they don't just send these to you first."
I told her it's because the signing services they use cheap out and try to get the job done for $75 or less. She said she didn't realize that the signing services kept such a large portion of the fee paid out. She said, "Wait, you do all the work and they keep over half the fee?" No wonder we get back such s**** work." At first I didn't believe her, but she was genuinely surprised...she said, "You guys do way to much work to get paid so little."
So, in a way, I think the parts of First American really *do* think that we're important and treat us that way... but when it comes to the ones actually farming out the work through the signing services? Not so much.
| Reply by Scriba/NM on 8/28/13 2:43pm
Msg #482379
One of The Worst
Everyone has said it here, and it's been said a hundred times. These people used to be a good company, and I worked for them between 2003 and 2006. Then things started changing.
Assignment calls were made by babbling idiots that could not speak English and you constantly had to have them repeat what they were trying to say.
Then the cheap rates started to surface. They essentially want to pay practically nothing to get their loans signed.
Then, they send you a letter saying you are in the "White Glove" program - (does this pay more? Of course not!) So what good is this?
Then they start inventing various problems (a computerized program) that you must answer to and of course there IS no problem. More phone calls from incomprehensible jabbering dimwits that don't even understand what we do.
Then, they call you in the middle of your signings asking if it's completed yet. Whaaaaat??????
Finally, this Zaki clown gets up in front of the assembled crowd at the last NNA Conference and blows on about how essential notaries are in this process. Well, Mr. Zaki, if that's the case, WHERE'S THE PAY WE DESERVE????
The entire company is a monstrosity, making offers to lenders that they can get their loans done at the lowest price in the industry. This only works if stupid notaries accept their absurd compensation (if one could even call it that). My advice: Steer clear of these people. I have.
| Reply by Kathy Petrere on 12/11/13 2:33pm
Msg #495807
Re: One of The Worst
Wow. What an eye-opening discussion. I'm a newbie and the NSA who did my refi (and from whom I learned about NSA work), gave me their info yesterday to sign up.
I must say I was shocked by the $50/$75 fees, I was expecting at least $75 for a signing.
So being new, do I just accept this and get some experience? Or walk away and hope someone else calls. I've been in a seasonal business for 12 years (unrelated to this) and regularly have to compete against people who will work for nothing. I don't want to be one of them, but I have to start somewhere and FASS is the only place that has shown any interest. Realistically, no many how many places I'm listed, who's going to call me when there are experienced NSAs on the same list? They may be the McDonald's of NSAs, but any jobs are better than no jobs, right?
How does one break into the business without making it worse for everyone else? Open for suggestions!
Kathy
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