Posted by Ronnie_WA on 6/13/13 4:28pm
Msg #473216

Food for thought on Signing Services

I always verify where a signing service is physically located. If the business is operated out of a residence or gives only a PO Box, I decline the assignment. My thought process is that the probability of them having sufficient operating capital to pay me if they don't get paid, is slim. The NNA is giving classes at their conventions on how to start a signing service. We will see more and more of them crop up in homes. While they may do very well, they are simply too high a risk for me. Personal decision for each to make

Reply by Shoshana/AZ on 6/13/13 5:12pm
Msg #473224

Don't prejudge

Iwork for a bunch of signing serrvices that pay me very well and are home based businesses. They have good track records and pay pronptly.

Reply by Ronnie_WA on 6/13/13 5:18pm
Msg #473225

Re: Don't prejudge

Not prejudging - simply an educated business risk assessment. It is customary and prudent for businesses to perform risk analysis. Perhaps that's my corporate background very deeply ingrained. My message was labelled "food for thought" - not a commandment!

Reply by MW/VA on 6/13/13 5:37pm
Msg #473233

While I can't agree with the general statement about ss

having a physical address, I will be wary of any new ss showing up with NNA ties. We already know how they flood the market with "certified" notaries. IMO those conferences are about selling whatever wares they have to offer.

Reply by Les_CO on 6/13/13 6:07pm
Msg #473238

One could make the same judgment of supposed Notary Signing Agents. Where is your office?

Reply by Notarysigner on 6/13/13 6:30pm
Msg #473245

Hey, you're alright! n/m

Reply by Shoshana/AZ on 6/13/13 7:06pm
Msg #473249

Hear Hear! n/m

Reply by jba/fl on 6/13/13 7:14pm
Msg #473252

My first thought as well: You must not be very successful or

skip out on payments to your suppliers, etc.

Broad strokes work both ways. Risk assessment.

Reply by Luckydog on 6/13/13 7:44pm
Msg #473260

Re: My first thought as well: You must not be very successful or

A lot of SS are home based...they do not need a public office with people coming in off the streets. All of their business is conducted over the phone or on a computer so no sense paying for office/ commercial business space. I do look for ratings however, and research them, especially if new.

Reply by Ronnie_WA on 6/13/13 9:27pm
Msg #473282

Re: My first thought as well: You must not be very successful or

Can you arrive at your appointments in a a beautiful Mercedes or a Hummer? Are you debt free? Do you pay for everything on the spot? Your first thought didn't quite hit the mark. I will no longer post on this site as it is an absolute waste of time.

Reply by MW/VA on 6/13/13 10:02pm
Msg #473288

It's not a waste of time. Your post provoked some good

discussion on the subject. Don't go away mad. BTW, there probably are notaries that do fit your description above. :-) LOL

Reply by jba/fl on 6/13/13 10:35pm
Msg #473293

Success is relative. Everyone has their own definition of

"what is success".

For my ex, it was money, and more of it, and debt free was not part of the equation. For others, it is pay as you go. Many fall between the two extremes, comfortably in control of their debt, with the car that suits their needs, and the family fed, clothed, housed, educated, and reasonably entertained, etc.

Intellectually, we can debate the merits of each of the so-called lifestyles mentioned. And would that be a waste of time as well?

As Marilyn said - this was a thought provoking exchange. For some reason you perceived this to be a personal attack...it was an illustration in contrasts and comparison of viewpoints only. There is no right or wrong here, but there is food for thought. Perhaps you forgot momentarily that you are working from your home office; although there really is need for some concern on the issue you outlined. That is why we are continually asking "ABC Co - G/B/U?" or "ever heard of Jane Doe in Anytown, Any state - G/B/U?"

That is why this forum exists - to compare and contrast as well as to agree and disagree. We learn a lot from these exchanges, we hone our critical thinking skills in the process, we learn to probe to feel secure in the decisions we make.

If you must, take your ball and go home. Sulk a bit. OR - just grin and bear it and go to the next posting that catches your fancy and call it round 2. When it comes right down to it, none of us are heavily invested in each other personally, but we do have the same love for this business that we share that brings us together at this water cooler. And everyone is welcome.

Reply by JanetK_CA on 6/14/13 2:17am
Msg #473302

Super description of what this forum is all about! Kudos! n/m

Reply by LKT/CA on 6/13/13 10:19pm
Msg #473291

Re: Food for thought on Signing Services - Disagree

<<<One could make the same judgment of supposed Notary Signing Agents. Where is your office?>>>

Not really. No one is given the time of day (by TCs/Lenders/Realtors) unless they are a Notary Public, period. This term, "NSA" was made up. As a matter of fact, I do not introduce myself to borrowers as "Notary Signing Agent" or "Loan Signing Agent". Those are terms I use on forums only. I say that I am a Notary Public. Since I do tons of GNW, I'm often asked where my "office" is. But I know their reason for asking - they're willing to come to my "office" to avoid a travel charge. When I tell them I'm mobile and we'll have to meet at a coffee shop, they don't then say, "Well, since you don't have an actual office.........". They simply say, "Okay, where's this coffee shop?"

IMO, the same judgment cannot be made between the SS and NSA. SSs aren't regulated......Notaries are.

Reply by BobbiCT on 6/14/13 7:16am
Msg #473307

NNA classes on starting Signing Services ...

In this belt-tightening, lowest-bidder-fee environment, I, too, worry about all the startup businesses as the middleman (lender to title company to NEW scheduling company to notary). I have had excellent relationships with small vendors (even one woman working from home office) that pay timely; however, a "new" company is a GREAT risk. My worry: IF the title company went for the lowest bidder for scheduling, how much capital does that scheduling company have on hand to meet weekly business expenses PLUS pay me when the title companies/lenders aren't paying until 60 days out?

As stated above - how much personal risk does each one of us want to take. The BIG companies have closed shop quickly leaving the individual signing agents unpaid, too. For me, payment consistently after 60 days (unless it is the "norm" from my past records) or a $X,XXX unpaid bill running to 80-90 days is a red flag.

Reply by 101livescan on 6/14/13 7:42am
Msg #473310

Re: NNA classes on starting Signing Services ...

I wonder what took them so long to come up with this new business money making seminar? They also just began giving the loan signing course again.

Maybe not enough people renewing their notary public commissions? I am completely underwhelmed with the quality of some SS owners, given their business acumen, and their personal criminal backgrounds. It's like a sexual predator becoming a child care center!