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Dannotary
California
265 Posts |
 Posted - 07/17/2015 : 7:00:53 PM
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| I do not travel more than 15 miles unless they double the fee. Figure the time and wear and tear on your car, and that you could be doing another appointment nearby in that same time you have wasted traveling which is not worth the extra 25. they offer. |
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Lee-AR
Arkansas
678 Posts |
Posted - 07/01/2015 : 12:14:25 PM
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I've had many signers who have stated to TC that they want to close 'in town'...library, fast food, sometimes even their bank (that can get awkward). I'm in a very small town/rural area and often, even after online maps & GPS...I can't get directions. Then I ask if they'd be willing to meet me at a fast food place near them. Most people are good about it.
BTW, while I was typing this, the post below blinged in.
I AGREE. Oh, and if they really have HUNDREDS...why are they calling you?
If you don't value your time and experience, nobody else will. |
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sspeckin
Maine
13 Posts |
Posted - 07/01/2015 : 08:15:25 AM
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Would it ever occur to a buyer who lives in an outlying areas far from town to ask that they meet at a common place mid way? It has worked for the customer better many times?!
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FaliciaN
Florida
2 Posts |
Posted - 06/02/2015 : 04:35:46 AM
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quote:
Originally posted by susiet57
Looking at the list here, this has been a long ongoing issue. When I first started in this industry, we were getting 50.00 - 150.00, depending on the company, and the distance. Then, they booked the appointment 10 days in advance, and the packets were overnighted to us 3 days in advance. Now, we are doing the printing, which saves them paper, ink, time and overnight fees. No one should get less than 100.00 for any job!!
I agree |
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edelske
New York
815 Posts |
Posted - 12/12/2013 : 1:38:31 PM
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quote:
Originally posted by Shannon
I just know I've chimed in with this retort in other places but find I just can't help myself: Any Signing Service or other hiring entity that offers $50 for a loan package signing will [and should] get a signer who is worth EXACTLY that. Any Notary Signing Agent who accepts such a fee is NOT a professional or at least won't be for long.
"A Quick Note"
www.aquicknote.net
Follow me on Twitter:
https://twitter.com/aquicknote
The post after yours proves your point.
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
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28055
Tennessee
13 Posts |
Posted - 12/12/2013 : 12:35:21 PM
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I got a lot of signing from National Vendors Solutions back in the summer and they paid $125. Then the closing slacked off, when I called they said business was slow. I think they found out I had contacted one of the title companies to see what the going rate was for notaries in my area. Then I found out their main company was MIC, whom I heard was closed down.
I would like to know what the notaries in TN are accepting because several companies that use to pay between $100-$125 are expecting me to take less. I charge $100 for my town and $125 up to 25 miles one direction. Several companies require legal size paper and laser printer, which means paper and toner charges are higher. Gas is over $3 a gal. I don't do faxes, but will scan up to 10 pages and email prior to shipping for that fee. If they want more, then the price goes up.
I had several calls in the past week that expects me to do it between 60-90. Not worth my supplies or time. But apparently they found someone because I didn't get a call back after they said they would check to see if they could pay my fees.
Pamela L. Roberson |
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realstar
Arizona
11 Posts |
Posted - 02/16/2012 : 10:14:24 AM
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I am glad to see someone with the same issues I have with Nations Direct..They called last week with a request and I forgot that they require all docs to be faxed back before shipping. They got angry when I finally declined and I told them to take me out of there data base.They threatened to tell the lender they were working with. ??Who cares, I have tons of other companies who treat me very well.
After 15+ years in this business, it seems now to be getting very dirty. I see twice as much as I actually get paid listed on the HUD and get asked about this by the borrowers..
quote:
Originally posted by mlbaier
I think if we all stick together we could put nations dirct out of business. JMT is another low paying company. They do pay but very low. Another thing with nations direct and JMT your check could be 60 days in coming. I usually charge $1.00 per mile both ways. Most title companies will pay and the demand is getting greater because of the low mortgage rates. A few years from now we will only be doing minimal closings.
Mary L. Baier
Nippenose Valley Financial Services
570-745-7358
Carol Kempton |
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Dannotary
California
265 Posts |
Posted - 02/15/2012 : 11:51:54 PM
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I agree with mlbaier ,Sharon, and Diana. $1. a mile is realistic.
If you are at a 15% tax bracket figure that off the top, with maybe 20 for printed 2 sets, gas, figure in your car ins, cost of your printer and computer, E&O ins, time to prepare your docs (which Isuggest you do before you go and fill in your journal too), about 40% of your 100. or 90. fee is all these expenses leaves you with 54.-60. prifit. I spend about 20 mins printing and preparing, 40-50 mins round trip driving, 45 mins on average at the appt if it all goes well, thats about 2 hrs. or 27.-30. an hr and we havent even talked about the fact that we have UNLIMITED LIABILITY yet. and our own health ins to pay etc. I think that 190. an appt is realistic but we goofed from the jump taking what the National Signing Assoc suggested and set our fees at 50. and 75. with e docs. in the beginning. We should have taken control from the start and not accepted 'suggested fees' which is what everyone did, and gradually got it up to 75. -90 and 100. The Estimated and HUD should have about 200-300 for the notary fee and we should be invoicing for each individual appt at 10. a signature and $1. mile etc etc and it would be around 200. or more. Since we started out letting the tail wag the dog, now its hard to go back and re structure the whole thing. That idea of 'being able to do a large volume of signings' doesnt work, all you do is what we've been doing- running around like a chicken with its head cut off. This job of Signing Agent has become more demanding, more detailed, with lots more to do, so much that in my area lots are not renewing their commissions, including new and old timers alike. |
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mlbaier
Pennsylvania
20 Posts |
Posted - 01/02/2012 : 06:11:20 AM
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I think if we all stick together we could put nations dirct out of business. JMT is another low paying company. They do pay but very low. Another thing with nations direct and JMT your check could be 60 days in coming. I usually charge $1.00 per mile both ways. Most title companies will pay and the demand is getting greater because of the low mortgage rates. A few years from now we will only be doing minimal closings.
Mary L. Baier
Nippenose Valley Financial Services
570-745-7358 |
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notaryslife
California
348 Posts |
Posted - 12/27/2011 : 5:31:59 PM
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I've been noticing less and less notarized sigs required in these packages.
Sincerely yours,
Notary's Life |
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DianaNotary
California
171 Posts |
Posted - 09/02/2011 : 09:19:20 AM
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I agree with you Sharon. However, there are notaries that would charge less and in the end they get the business and the signing companies get the big bucks. I’ve recently learned that there are many new notaries out there who just got their commission and are new to the business. They have no experience with the loan signings, so they would agree to any fees – just to get their hands on a project. I have nothing against them, as we all started at some point without any experience, but hey… the times are tough nowadays and the compensation for closing a loan keeps going down too…
Anyway, my point is that as long as there will be other notaries accepting low cost assignment, we won’t be able to receive a decent compensation for closing a loan.
http://www.DianaNotary.com |
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Kaye08
Arkansas
12 Posts |
Posted - 08/29/2011 : 11:43:50 AM
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I am with you guys. This is a disgrace to the Notary profession and I think someone needs to figure out a way to turn the table. I love my job of closing a loan. It is a great feeling to know you are helping someone, but I have been given some thought to looking in another direction to pay my bills. I am starting to feel like we must be a dime a dozen and the quality doesn't matter, according to what they want to pay us. This had been my career since 2004 and before that I was a closing agent at a title company. We need to stick together and keep our fee high. We need to Keep our Pride in howing important we are in this field.
Sharon |
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Conniek
Oregon
78 Posts |
Posted - 02/25/2010 : 4:13:54 PM
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I totally agree with you. How much do you want to make a hour? That is where you begin! If it is mininum wage, you can find lots of those jobs but Notary Public? In Oregon we now get $10 per signature PLUS if you travel, your printing, your signing time itself. So, again what do you want to get per hour of your service. Unless I know them, and make an exception, it is $50 to leave my home for a one-liner! 
ConnieK's Oregon Mobile Notary |
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n/a
Michigan
1 Posts |
Posted - 02/22/2010 : 8:46:44 PM
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"When these SS's or TC's end up paying additional monies to have a professional notary clean up after the $50 notary, they'll learn that it will benefit their pocketbook to just pay the professional notary their fee from the get-go."
I'll believe it when I see it. It's getting bad out there. Nations Direct calls me all the time and I always turn them down because of their low fees. I get so sick and tired of these low fee companies that I immediately add the number they called from to my address book so when they call again I don't have to interrupt what I'm doing to listen to the long drawn out explanation about "close to you" "low docs" so we only pay $xx.
I work a very rural area and it is very rare that a signing is located in under a 45 min. drive 1 way.
Also, there are not very many of us that service the area I do. You would think it would be worth the little extra $ to them to have an experienced reliable NSA than to work that phone so hard to find that $50 notary.
Sometimes I wonder if there is some kind of bonus for the employee that gets the most of the cheapest notaries for the month. That is the only reason I can think of as to why they keep calling me when I turn them down time and time again with fees that are so low I would actually be spending my own $ to do a signing for them.
I had another company call me 5 times today. Again, this is another 1 I won't work with. I have told them in the past that their fees are too low for me to make any kind of profit. The 1st time they called I let it go to vm and listened to it later and sure enough another $40 job. I did not call back. The next time they called on a line that only shows 5 numbers on the caller ID so I answered it. I told them no, no, no. The third time was their regular line in my address book so no answer from me and no message from them. Then they called back right away with again no message. In 2 hours they tried again on the line that only shows the 5 numbers so I answered it since I have a good customer that shows up that way on my caller ID. After I turned them down again they tried everything to accommodate me but would not raise their fee. "Were only getting $50 ourselves so that is all we can offer." She actually got an attitude with me and said so you’re not going to do it! after I already turned her down.
These people make me so mad. I have many years of experience including 15 years with a Title Company where I managed 2 of the branch offices before I left to go out on my own.
Some of my regulars have not called in a while. I have heard one of my big ones just lowered their fees by $25 and are not even calling anyone who won't comply.
I had another regular that sent me an email to let me know that because of the times they were lowering their fees by $5 and a couple of days later I got another one from them stating that on top of that they were going to keep another $1.00 to pay for the new $1,000,000.00 E&O insurance they just purchased for us notaries. How nice of them. I emailed them and told them that because my minimum drive time for the signings I do for them is 1 hour I could not accept these new low fees. I told them they could call me when they were in a pinch but would have to pay me the same as they always have. Well they still call but only offer me the new pay scale.
This is the craziest business I ever been in. My family and friends can't believe how little I get paid and what I have to do sometimes just to get paid at all.
It's too bad because I really love doing this. There are many rewarding times for me when I have comforted an anxious couple or kept a lonely widower company for a while during a signing. But I just don't know how much longer I can hold on with these fees they are offering now.
I am really starting to think that maybe these $50 dollar newbie notaries can handle this business after all. If not why haven't I seen any turn around back to the experienced signers.
Sorry to be so down about the NSA business but it has been a trying day. I know I will wake up and start again with a new attitude.
Thanks for letting me vent.
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vince
Kansas
324 Posts |
Posted - 02/22/2010 : 10:16:21 AM
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| Agree with Linda regarding the overall charges. But, some companies understand they may be able to find a person that will travel a very long way for a lessor charge that may not otherwise be busy. |
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LindaH
Florida
1754 Posts |
Posted - 02/22/2010 : 07:47:19 AM
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quote:
Originally posted by conotary
I am just curious about this deal. What would some of the rest of you charge for a signing where you were about 150 miles from the signing with edocs? I had such a request the other day and apparently the bid was too high because they didn't call back. (They had to get approval!?) Of course, the call was from Nations Direct!
I personally won't do signings that far away - it's just not economically feasible to any of the parties involved. You (and the hiring party) have to consider 150 miles out - 300 miles rt - that's 5-6 hours in travel alone - an hour (maybe more) at the table - you're talking a full day project where you can accept NO other assignments...figuring $.50/mile, that's $150 in travel alone, and we know Nations Direct doesn't pay that high for the whole job.
My fee structure calculations would be Travel $150.....Print $30 (or more if package is excessively large)....Time 8 hours @ $20/hour (discounted) - $160....we're looking at $340 WITHOUT figuring in the fees for notarizations, pre-closing prep, added time at the table if there are issues, and travel to package drop!! This IMO is a $350-$450 job (What *I* would charge and how I'd calculate it, not suggesting this is any kind of standard in any way, shape or form.)
When someone calls and the signing is outside my normal service area, especially this far out, I try to help them find a notary in a closer zip code (online, I don't farm out and I don't charge for assisting) or I refer them here or Notary Rotary, suggesting they look for a notary in XX city, which is closer.
MHO
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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Edited by - LindaH on 02/22/2010 07:49:42 AM |
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edelske
New York
815 Posts |
Posted - 02/22/2010 : 06:51:23 AM
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conotary:
UNLESS the caller opens the conversation with a VERY BIG number - traveling 150 miles (each way!) will never pay off.
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
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conotary
Colorado
24 Posts |
Posted - 02/22/2010 : 06:08:12 AM
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| I am just curious about this deal. What would some of the rest of you charge for a signing where you were about 150 miles from the signing with edocs? I had such a request the other day and apparently the bid was too high because they didn't call back. (They had to get approval!?) Of course, the call was from Nations Direct! |
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Conniek
Oregon
78 Posts |
Posted - 01/17/2010 : 11:09:59 AM
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I totally agree with this assessment of Notary fees! Keep track of your time and expenses and you will see that low signing fees to get business will get you working more but get less at the bottom line.
ConnieK's Oregon Mobile Notary |
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DianaNotary
California
171 Posts |
Posted - 01/16/2010 : 11:43:19 PM
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Let’s do the math:
Generally a loan document has about 10 signatures (more or less). In California Notaries charge $10 - for each signature taken as regulated by the State of California Government Code Section 8211. In addition, travel fee is about $30-$50. Besides, printing 2 sets of documents on high quality legal size paper is about $25. So, ideally total fee for a loan document would be about $155. In fact, that’s pretty much a fair reimbursement for a quality signing service. So, agreeing to accept a job for a fee lower than a standard Notary fee is nonsense.
Before accepting a cheap signing it is important to consider the cost of: gas, parking fees, paper, ink and toner, notary supplies, cell phone communication, courier delivery, etc. and most importantly YOUR PRECIOUS TIME.
http://www.DianaNotary.com |
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Conniek
Oregon
78 Posts |
Posted - 01/12/2010 : 9:41:44 PM
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Notaries are givers! But, your time and travel costs you and your time is worth something! $10 an hour is minimum wage! So, if you want to make more than minimum wage, what is your professional time worth? I like $50/an hour. So, we are Officers of the State and your time is worth professional fee! If you can do a signing in an hour $50! If it will take more than an hour, plus mileage, etc. My basic fee is $125 which includes travel (not over 30 mi), printing and signing time. Like to hear comments. I am in a very remote area and I cannot do less. Gas near $3!
ConnieK's Oregon Mobile Notary |
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Lee-AR
Arkansas
678 Posts |
Posted - 12/16/2009 : 10:36:46 AM
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Renee & RR, reading your post below about accepting nearby $50-%60 fees. Exactly right! Just say no to all low fees. If we all did that, they wouldn't have the hundreds of notaries to abuse.
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Renee
Michigan
549 Posts |
Posted - 12/15/2009 : 3:11:29 PM
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| I remember here (MI) around 2000 or so, when e-mail pkgs went full tilt, all the title co's here & in the MidWest were charging $50 to print them! |
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susiet57
Tennessee
24 Posts |
Posted - 12/15/2009 : 2:37:12 PM
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| Looking at the list here, this has been a long ongoing issue. When I first started in this industry, we were getting 50.00 - 150.00, depending on the company, and the distance. Then, they booked the appointment 10 days in advance, and the packets were overnighted to us 3 days in advance. Now, we are doing the printing, which saves them paper, ink, time and overnight fees. No one should get less than 100.00 for any job!! |
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edelske
New York
815 Posts |
Posted - 12/09/2009 : 7:59:28 PM
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quote:
Originally posted by Railroads53
This might be a bit wordy .... but PLEASE read and give some thought to it.
$60.00 which included printing 2 sets of docs from a pdf file, traveling up to 60 miles round trip to get the signing done!!!
Similar to a response to junk mail of "unsubscribe" - I simply request that they put me on their "do not call" list. NO discussion of fees, my expenses, etc. - They don't care or want to listen. Your objective should be to keep the call as brief as possible so your business line is not busy with a "dud" not now, not in the future.....
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
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Railroads53
Florida
7 Posts |
Posted - 05/22/2009 : 07:37:51 AM
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This might be a bit wordy .... but PLEASE read and give some thought to it.
I've been in this business for several years now - and have seen quite a few changes, especially in the last year or so but I am dumbfounded over what the NOTARY SIGNING AGENTS are letting happen!
Our costs have continued to esculate, i.e. paper, gas, insurance, etc. but yet because there has been a downturn in the number of closings going on we are expected to do the same job - that costs us more - for less money.
I'm certified, background screened, bonded, insured; I have a completely mobile office with wi-fi, computer, lazer printer and copy machine in my vehicle. We are able to close ANYWHERE in the air-conditioned comfort of our vehicle - at a table, the info is posted on my profile on many of the notary search engines and with all that at the disposal of the closing agencies they call me and offer - get this - $60.00 which included printing 2 sets of docs from a pdf file, traveling up to 60 miles round trip to get the signing done!!! I told the company that that was an insult ... but here's the problem ... she told me that they have HUNDREDS OF NOTARIES that close for that fee. MY QUESTION IS .... WHAT THE HELL IS WRONG WITH THE NOTARIES THAT WILL AGREE TO THAT FEE??? We make the job happen, we print all of the docs, have to deal with the disgruntled homeowner who most times think we are from the finance company, notarize the docs, ship them back in a timely mannner and if the loan doesn't close only get 1/2 of the fee. We need the work ... but ... are you willing to do all of this for as little as $30.00??? COME ON people, WAKE UP they offer this insulting fee BECAUSE you accept it. I need some feedback to satisfy my hope that there aren't HUNDREDS of you out there doing this for such an insulting offer. |
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NOTARY SIGNING FEES
