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civey
North Carolina
76 Posts |
 Posted - 08/14/2008 : 07:25:07 AM
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quote:
Originally posted by civey
I agree that the fee should coincide with the amount of time you spend and also the effort involved. I have done quite a few reverse mtgs lately. (swore I wouldn't do them, but now I have a better understanding of them and they are really not the evil loan I thought they were) All of the ones I have done are 200+ pages and in most cases you are dealing with older borrowers and I do take a little more time with them, because I don't ever want them to feel rushed.
However, I did get a call yesterday for an $85 job and I'm sorry, but my toner for my printer is $70+, not to include paper, my time gas and wear and tear on my equimpment and vehicle. $85 doesn't leave much to put in your pocket. This may not sound realistic to some, but that kind of pay doesn't bring in much more than working at Walmart as a greeter for a day.(okay, maybe a little more, but not much).
I got really upset when I saw the HUD on the last reverese I did. The company I did the signing for had their name with charges on about 4 to 5 different HUD lines. They are surely getting their money and although the fee was O.K., they will not get me that cheap again. I was willing to give them a try because I am trying to build my business, but I will not work for peanuts. I would advise all notaries to check the HUD and see just how much money some of these companies are getting off the HUD for little or no work on their part.
Just wanted to add that I e-mailed the company that offered $85 and told them if they fed ex the borrower the docs and there were no unusual things to be done I would be glad to do it, then quoted them my fee for signings with e-docs and my fee for overnight docs. They said they couldn't do it, which is fine, but I really feel sorry for the person who took the job, because they got robbed. --AND-- when he intial called me he wasn't even sure of what type of loan it was, he was just trying to secure a signing agent. |
Edited by - civey on 08/14/2008 07:27:42 AM |
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civey
North Carolina
76 Posts |
Posted - 08/14/2008 : 07:20:34 AM
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I agree that the fee should coincide with the amount of time you spend and also the effort involved. I have done quite a few reverse mtgs lately. (swore I wouldn't do them, but now I have a better understanding of them and they are really not the evil loan I thought they were) All of the ones I have done are 200+ pages and in most cases you are dealing with older borrowers and I do take a little more time with them, because I don't ever want them to feel rushed.
However, I did get a call yesterday for an $85 job and I'm sorry, but my toner for my printer is $70+, not to include paper, my time gas and wear and tear on my equimpment and vehicle. $85 doesn't leave much to put in your pocket. This may not sound realistic to some, but that kind of pay doesn't bring in much more than working at Walmart as a greeter for a day.(okay, maybe a little more, but not much).
I got really upset when I saw the HUD on the last reverese I did. The company I did the signing for had their name with charges on about 4 to 5 different HUD lines. They are surely getting their money and although the fee was O.K., they will not get me that cheap again. I was willing to give them a try because I am trying to build my business, but I will not work for peanuts. I would advise all notaries to check the HUD and see just how much money some of these companies are getting off the HUD for little or no work on their part. |
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Lisa T.
California
391 Posts |
Posted - 08/04/2008 : 5:40:38 PM
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Since this is your business, and you are most likely in business to make a profit, you should negotiate a fee based on what you charge, not what a company pays. It's not that you have the option to go or not, but they (the hiring entity) have the option to use your services or not. If a company is not willing to meet my fee, I decline their offer and stay home.
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jbelmont
California
3106 Posts |
Posted - 08/02/2008 : 12:00:09 AM
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In this business there is rarely a normal fee or a normal signing. Its really up to negotiation. I always recommend charging based on how much time you will consume doing the job. A rush hour job with e-documents would be more than a late night job with fedex docs. There is no traffic after nine at night.
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n/a
1 Posts |
Posted - 08/01/2008 : 10:13:06 PM
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I have been signing just over a year now and most of the signing companies that call tell me what the job pays. I have the option to go or not (of course I go). Is this normal, or should I say, "Well, my regular fee is..."  |
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