I've been doing this professionally since 1998. We've seen the dips before, yet this one seems to take the cake.
Since the demise of our industry (really feeling in since June 2022). I have discovered that some SS are still charging fees upwardly of $250.00-350.00 (noted on as "Estimated SS" ), and still offering for a full-purchase- 200+ paper close w/ scan backs a whopping $75.00? It was mentioned to me that the Estimated SS should not be reflected as "Notary Fee" since the notary is only getting $75.00 (not the $250.00 stated on the Estimated Settlement Statement) and this, in fact could be a misrepresentation of fees (or TRID violation?)
I would like to know if this could be clarified as correct (since I honestly do not know), and corrected could be for instance "Snapdoc fee" or Scheduler Fee.. etc.. And, why are the schedulers now making more than the notaries (especially if they are still charging the same amount? Does less business for them and us justify this imbalance?)
It seems like another poke in the eyeball for us hardworking notaries out there just trying to pay the bills and feed ourselves. I have seriously thought about jumping on the RON wagon, but the cost to apply, test and join a platform, is it really worth the extra effort?? RON is suppose to save the "Lenders" more money, yet the costs are passed on to the signer, so who is really benefitting here?
I've been doing this so long, I am not sure what I can do to offset this lack of income. Retirement is not an option. Any thoughts? |
