The NNA has an annual licensing fee for ENJOA that must be factored in.
Also, my guess is the lenders may also include an annual licensing fee for any software that the NSA has to use. The lender will probably pass that cost on to the NSA as well. In general for software support and sometimes upgrades, businesses pay an annual licensing fee based on the number of users. In the day job it's a cost of doing business and having employees. I can't see a lender paying for an independent contractor's costs, plus what if the same software can be used by multiple lenders? No one lender will want to pay the NSAs costs so that the other lenders get off with less expenses.
I hear the marketing pitch: Today it is "Take this first signing from us at less than your regular rate, $65 for Edocs, and you will make it up on volume from us later". Tomorrow it is "Buy the equipment, software and licensing fees now, take our Edocs signing at $65, and you will make it up in volume because you can use it for other lenders".
In today's environment, how many NSAs have seen their fees increased after the "reduced rate initial signing" or have gotten "volumes" of assignments that made up for the increased expenses of gas, wear & tear on vehicle and equipment, and "sorry, it cancelled lost business income".
P.T. Barnum lives in the loan signing industry! Anyone want to buy a wooden nutmeg? |
