| |
 Dear Signing Agents,
You need to REGISTER and have a password to post or reply to discussion topics. Please remember, your password for your listing on 123notary.com is NOT RELATED to and is different from your password on the forum. Your password on the forum can be whatever you want it to be.
|
|
  Be the first person to vote!
| Author |
 Topic  |
|
|
vince
Kansas
324 Posts |
 Posted - 05/31/2008 : 07:20:41 AM
|
Regarding Service Link Faxbacks - talk with "vendor management" regarding the "requirement" for all of those faxbacks. You will likely find that they will allow an extra charge for providing that service (unless enough persons are willing to do this for free in your area). At least that has been my experience.
quote:
Originally posted by kaleijohnson
I am in Honolulu and I charge a fair price in my opinion. I would charge the same anywhere because of liability and travel expenses.
Single refinance: $100
Single refinance w/edocs: $125
Fax backs more than 20 pages is addl. $15 (they hate to pay this. ServiceLink fax backs are now between 50-65 pages. They will not pay extra.
If I have to travel to places that are very inconvenient because of mean traffic or Waikiki parking rates, I add on $25-$50 more depending. Some places are dangerous and I need company for safety. I am up front about it, and if they hum and haw about the price, I ask them politely to find someone else.
My recent problem are the Reverse Mortgages. They are very time consuming and I am asking for a single signing (one sitting) $150. Some companies already have that as the going rate and say so upfront. Others will only pay as a regular refinance. I think that I will start to say NO. They don't understand how delicate this type of signing is.
Kaleihanamau Johnson
|
|
|
|
BrendaTx
Texas
60 Posts |
Posted - 05/30/2008 : 7:53:09 PM
|
Linda - Your business plan calculator should be required reading for every person getting into the business.
The only small suggestion I would make (and certainly not a criticism) is that you could bump up the per mile number to about $.51...for Texans anyhow.
Maybe I missed it when I read through this thread but I don't see that anyone has commented on it. It needs to be looked at for those interested in making a PROFIT. Follow Linda's link and take a look at what a true business person considers when they get into business. This is very important information. It's the kind of thing that low paying signing services do not want you to know.
quote:
Originally posted by lkassis
Good response, Carmen. Some additional factors to take into account. As we would like to weed out those that take the ridiculously low fees, it is necessary to inform others of a standard range.I think the majority of us want to see fees in a certain acceptable range but it still depends largely on your area (rural vs urban), supply and demand; and your operating costs.
I hope Jeremy doesn't mind. I am going to post a link to somewhat of a business plan/calculator that can help you to know if you are covering your costs AND making a profit with a given amount you may be charging or thinking to charge. Beyond that I would like to post an article that I have published on other sites about running a business but it is quite sizeable, so Jeremy or Carmen please let me know if you would like me to post the article here as well.
The link to the business plan/calculator is:
[REDACTED - SEE ORIGINAL POST FOR LINK]
It's not foolproof or set in stone but it can give you an idea of how to figure out the minimum you can charge and make a profit.
Linda Kassis
United Notary Association (UNAA)
[REDACTED - SEE ORIGINAL POST]
If you are not riding the wave of change, you may find yourself under it. Ride the wave with the UNAA.
NSA Book - Free at
http://tinyurl.com/4t4f3p
|
Edited by - BrendaTx on 05/30/2008 8:15:58 PM |
|
|
|
crtowles
California
553 Posts |
Posted - 05/27/2008 : 07:27:15 AM
|
kaleijohnson those are fair and reasonable fees that all of us should at least be making no matter who you are working for. I personally charge a little more for title and escrow, but those fees are very acceptable as long as you are not traveling to far.
Carmen |
|
|
|
kaleijohnson
Hawaii
13 Posts |
Posted - 05/27/2008 : 12:24:58 AM
|
I am in Honolulu and I charge a fair price in my opinion. I would charge the same anywhere because of liability and travel expenses.
Single refinance: $100
Single refinance w/edocs: $125
Fax backs more than 20 pages is addl. $15 (they hate to pay this. ServiceLink fax backs are now between 50-65 pages. They will not pay extra.
If I have to travel to places that are very inconvenient because of mean traffic or Waikiki parking rates, I add on $25-$50 more depending. Some places are dangerous and I need company for safety. I am up front about it, and if they hum and haw about the price, I ask them politely to find someone else.
My recent problem are the Reverse Mortgages. They are very time consuming and I am asking for a single signing (one sitting) $150. Some companies already have that as the going rate and say so upfront. Others will only pay as a regular refinance. I think that I will start to say NO. They don't understand how delicate this type of signing is.
Kaleihanamau Johnson |
|
|
|
kandy1099
Pennsylvania
121 Posts |
Posted - 04/08/2008 : 09:45:08 AM
|
I agree with Linda, it very much depends on your region.
In PA here, Jeremy was about right with his fees listed.
|
|
|
|
AZSigner
Arizona
93 Posts |
Posted - 04/07/2008 : 10:21:02 AM
|
Diane,
There's no way to know for sure if it's not on the HUD, but here's how it generally works:
The title company charges the borrowers $200-$300 for the signing itself. This is in addition to the fees for title examination, reconveyance, escrow, and title insurance.
The average I see here in AZ is about $250 for the signing on a re-fi. If you're dealing DIRECTLY with a title company, you can usually negotiate $125-$150 for the closing plus $25 (or more) for e-docs. That's why everyone likes to deal directly with title companies.
If you're dealing with a signing company, THEY'RE the ones charging the title company $150-$175 (or more sometimes) and they'll only give you half of their fee at most, usually less. If they're collecting $150 from the title company, you can bet you'll never get more than $75 out of them unless they're in some sort of dire, last-minute crisis and their reputation is on the line. This is why signing companies usually pay only around $50 and, in my opinion, aren't worth dealing with. They're the money-sucking middle men. Most of them take at least 30-45 days to pay, some don't pay at all, and they're very "high-risk" clients because many of them are going belly-up in the current market. (Which is fine with me because that means more calls from Lenders and Title Companies directly). As others have pointed out, they collect half of what would normally be YOUR fee just for making a few phone calls and sending a few e-mails.
I usually turn down work from signing companies, but another poster here gave me the idea of saying, "Sure I'll do a closing for $65. Give the borrowers my address and tell them to be here in 30 minutes."
I'll let you all know how that works out.
-Mike |
Edited by - AZSigner on 04/07/2008 10:28:30 AM |
|
|
|
sailing
Washington
59 Posts |
Posted - 04/06/2008 : 1:55:52 PM
|
If it isn't listed on the HUD, then how do you know for sure what the signing companies are getting for notary service?
Diane J. Elliott |
|
|
|
lkassis
Iowa
60 Posts |
Posted - 03/18/2008 : 4:06:21 PM
|
Good response, Carmen. Some additional factors to take into account. As we would like to weed out those that take the ridiculously low fees, it is necessary to inform others of a standard range.I think the majority of us want to see fees in a certain acceptable range but it still depends largely on your area (rural vs urban), supply and demand; and your operating costs.
I hope Jeremy doesn't mind. I am going to post a link to somewhat of a business plan/calculator that can help you to know if you are covering your costs AND making a profit with a given amount you may be charging or thinking to charge. Beyond that I would like to post an article that I have published on other sites about running a business but it is quite sizeable, so Jeremy or Carmen please let me know if you would like me to post the article here as well.
The link to the business plan/calculator is:
http://unitednotaries.org/index.php?option=com_content&task=view&id=445&Itemid=6
It's not foolproof or set in stone but it can give you an idea of how to figure out the minimum you can charge and make a profit.
Linda Kassis
United Notary Association (UNAA)
www.unitednotaries.org
www.halitek.com
If you are not riding the wave of change, you may find yourself under it. Ride the wave with the UNAA. |
|
|
|
crtowles
California
553 Posts |
Posted - 03/18/2008 : 12:03:31 PM
|
Well heres my two cents note2self 
A signing company will usually pay at the maximum 75.00 per job regardless of the distance. Normally they will try and keep it close if they possibly can. They will more often than not want to pay 50.00- which most of us will not take. They WILL NOT pay 50.00 for e docs. 25.00 is about the norm. For a first and second including e docs you will be lucky to get 150.00 and this includes e docs. A title/escrow company is a different story. The norm is about 125.00 to 150.00 and 25-50 for e docs. My norm is about 175.00 including e docs. A first and second is about 250.00 with e docs. Contrary to what is written on the boards there are still quite a few title/escrow companies that still pay well. I think the signing services just tell us that the lenders are cutting their rates because they have less volume and need to put more of our money into their pockets.
Good Luck to you!
Carmen |
|
|
|
n/a
2 Posts |
Posted - 03/18/2008 : 08:18:18 AM
|
Thanks Jeremy!  quote:
Originally posted by jbelmont
The price should depend on your experience and distance involved. For less than 45 minute drive:
75-100 for a regular signing
$50 extra for edocs because it could involve an extra trip home and takes time. Also, could have techinical complications in some cases.
50 extra for second mortgage. It will take you an additional 30-45 minutes.
Cancellation fee should only apply if its within 24 hours. $25 charge, but nobody will pay for that. Its a bad political move to ask for it unless they cancel all the time. If they cancel too many times, just don't work for them. Cancellations are part of life and happen about 25-30% of the time.
|
|
|
|
jbelmont
California
3106 Posts |
Posted - 03/17/2008 : 2:23:58 PM
|
The price should depend on your experience and distance involved. For less than 45 minute drive:
75-100 for a regular signing
$50 extra for edocs because it could involve an extra trip home and takes time. Also, could have techinical complications in some cases.
50 extra for second mortgage. It will take you an additional 30-45 minutes.
Cancellation fee should only apply if its within 24 hours. $25 charge, but nobody will pay for that. Its a bad political move to ask for it unless they cancel all the time. If they cancel too many times, just don't work for them. Cancellations are part of life and happen about 25-30% of the time. |
|
|
|
n/a
2 Posts |
Posted - 03/17/2008 : 11:39:38 AM
|
Can you suggest a list of fees for signings in NC? I get this question a lot from other signing companies and I don't know how to respond. I don't want to cheat myself nor do I want to scare anyone away. I am always asked for my fees on the following services:
refinance
purchase
trip charge
print fee
E-Docs
HELOC/2nd mortgage
Cancellation fee |
|
| |
Topic |
|
|
|
| Mobile Notary / Signing Agent Discussion Forum |
© 123notary.com |
|
|
|
Tips for using the forum
The most important feature on the forum is the search box. You can look up a particular word, phrase, name of a company, and see a potentially large list of search results with which you can obtain data. Filters are also valuable. If you want to find popular posts, you can use the number of views filter. You can also see whats new with the active topics link. Email us at info@123notary.com if you need any help using the notary forum.
Resources
The notary public resource page is valuable as it has links to all of the free information pages for notaries. Pages linked to the resource page include a page that teaches you everything you need to know to get the most out of your listing. Another page teaches you all the secrets of getting paid. There is a link to our free list of signing companies. There is also a glossary, learning tools, and much more.
If you are a notary, the free tips we give are invaluable.
Popular pages
If you visit 123notary.com often, you might want to visit some of our most popular pages such as the California notary, Texas notary, Florida notary, and New York notary pages to browse the site. We also have valuable pages for notaries such as the free list of signing companies, and the resource page. Please also visit our get notarized and notarized letter page.
|
| |
Notary fees
