Posted by Rita Adu on 3/28/13 12:12pm
Msg #463506

Anyone Only Working With Title Companies?

Just wondering if anyone here had this practice. I have a few good Signing Companies that I work with, but I'm very leary of taking on others. Is there anyone here who ONLY signs for Title Companies? If so, how is it working out?

Reply by ToniK on 3/28/13 12:32pm
Msg #463511

You do not want to work? Why are you leary?

Reply by Rita Adu on 3/28/13 1:00pm
Msg #463514

I get a high volume from the companies I work with, but I've heard many horror stories about some of the SC's. Likewise, I've just been invited by a few Title Companies to work for them. It was surprising b/c I was getting these same signings through the SC's. I don't know if the SC's aren't pleasing the Title Companies or if the Title Companies are just trying to cut out the middle guy. It makes me happy b/c my "cut" is now larger. Just wondering....that's all.

Reply by Yoli/CA on 3/28/13 1:20pm
Msg #463521

An NSA's dream come true!

"I've just been invited by a few Title Companies to work for them." and "... trying to cut out the middle guy."

Don't understand why you're questioning this good fortune. Count your blessings, accept those invitations and give thanks!

JMHO

Reply by Saul Leibowitz on 3/28/13 1:26pm
Msg #463522

Re: An NSA's dream come true!

Some lenders are asking and some tile companies on their own are deciding that they want to control the notary hire. Just signed with a tc that said they are doing this because ss's were sending notaries who showed up in shorts and sandals, or with friends, or other horror stories.

Reply by Marian_in_CA on 3/28/13 1:30pm
Msg #463523

No doubt!

Yolanda's right... you *want* to work directly for these companies!!! That's where you'll get the best business, and you'll have regular contact with the same people who will know your work. Not only that, if they like you they will refer you to others for direct work, too. That's how I get some of the best paying jobs... I had one title officer call me late at night in a panic over a botched appointment earlier in the day. Said she was given my business card by a friend in a neighboring office and was told, "She will fix this. Pay her whatever she wants. She's worth it."

I always prefer direct work over signing services. It's those companies that always get priority in my book and the ones I will often bend over backwards to assist. There are one or two signing services for which I'll also do that, but that's rare.

Reply by Rita Adu on 3/28/13 1:48pm
Msg #463529

No Gripes Here

I LOVE the change. This is a good time to be in the business. Just wondering if anyone decided to exclusively sign with Title Companies.

Reply by 101livescan on 3/28/13 1:49pm
Msg #463530

Good on you, Rita. I only work for 4 and 5 star companies on this board, and very few signing services. I cut my teeth years ago on SSs ~ their future is dim on a go forward basis, especially since most don't pass muster with Federal regulatory agencies for background screening and security measures to protect borrowers privacy and personal information.

You're smart to work for only the TCs and escrow/lenders. The middle man, the monkey in the middle, if you will, scalps the cream off the top and you get what's left.

Way to go!

Reply by Lee/AR on 3/28/13 2:02pm
Msg #463531

The only caveat is many TCs do NOT pay for no-shows/signs/RTC used. Usually not a big problem, but worth asking what their policy is so you go in with your eyes wide open.

Reply by ikando on 3/28/13 2:07pm
Msg #463533

Lee, while it may be true that some TCs don't pay the notary if the loan doesn't fund, I have a policy that if I do the work, I get paid my full fee. When I point out to them that their employees get paid for the process, and if I do the job they contracted with me to accomplish, I should be paid too. After all, if the client can't get in to their office to sign, if it weren't for me, the loan can't proceed.

Reply by Lee/AR on 3/28/13 2:46pm
Msg #463545

I do the same thing as you. But it IS

Reply by Lee/AR on 3/28/13 2:48pm
Msg #463546

Ooops Re: Anyone Only Working With Title Companies?

Try again. I do the same thing as you. But it IS an issue that needs to be known and addressed--that's all I was saying~~

Reply by Pam/NM on 3/28/13 3:09pm
Msg #463554

Re: Ooops Re: Anyone Only Working With Title Companies?

I've often wondered about that, because (at least in NM) there is a form that borrowers sign that states that once certain services have either been ordered or executed (pest inspections, credit reports, title fees, appraisals for example) they are not refundable. It's specified on the form when they become non-refundable and title services are once they are ordered. Since my fee is generally rolled into theirs (unless I'm named separately on the HUD), I've always taken that to mean me. Every title co I've worked with has made good on that in the nearly 8 years I've been doing this.

Reply by JanetK_CA on 3/28/13 9:12pm
Msg #463616

Re: Ooops Re: Anyone Only Working With Title Companies?

In my experience, that's been a common practice, especially by small escrow companies, at least in my part of the country. That's one of the key reasons why I believe that we should charge significantly more when dealing directly with a title/escrow company. When we're the ones who take on that risk rather than the signing services, we should be the ones making the fees that title/escrow companies pay to the ss (or used to pay before they started undercutting each other to get the business...) For another $50 (for example) per signing, it's a lot easier to stomach having to eat a very rare no-sign. If it's not extremely infrequent, that's a different story - and maybe time to find a new client!

And a caution for newbies who think marketing to title co's sounds like a great way to go... When you're dealing directly with them, they expect you to know what you're doing. The don't want to have to check people's work or answer questions on basic stuff, etc. So I recommend you get some significant experience under your belt before you burn any bridges to companies that some day could become your bread and butter.

Reply by MW/VA on 3/28/13 4:17pm
Msg #463566

In my experience, while I love working directly for tc's,

they don't supply me with the volume work that the select ss I work with. I've said it many times, I wouldn't have made it in this biz without ss.

Reply by 101livescan on 3/28/13 9:56pm
Msg #463621

After reading today's posts on "badnotary.com" and the feedback by members of this board, I realize how much I covet my TC and loan officer relationships not only because they pay me better and appreciate my services more but because they are so much more professional and treat me a whole lot better than these guys treat their notaries.