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LindaH
Florida
1754 Posts |
 Posted - 10/11/2010 : 2:39:09 PM
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There really is no "industry standard" - the fee is what your market will bear based on your demographics - location, competition, etc, etc From what I've read the fees in TX seem to be much higher than what I see here in FL.
I will just remind you of this - being in TX there are certain loans that MUST be closed in the office of an attorney, title company or lender branch. For the most part it will be up to you to have that arrangement in place, which is going to cost you extra. Don't forget to include that when quoting your fee. As to what loans fall into this category, you're going to have to do your own research here and on other boards or check with other TX loan signing agents.
I agree with Robert though - don't give up your day job. This is a tough business to break into now. And before you jump into loan signings make sure you know your notary laws cold.
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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Edited by - LindaH on 10/11/2010 2:40:07 PM |
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FlaNotary
Florida
59 Posts |
Posted - 10/11/2010 : 12:25:32 PM
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The industry standard is $125, I believe. However, this varies depending upon the number of notaries in your area. If the signing is very close to home, you can probably charge less - if it's far away, charge more. No one can tell you what to charge - you need to decide what is the bare minimum amount you can accept in order to pay your expenses and make a profit.
Don't feel the need to accept peanuts just because you are new. I should hope that you aren't planning to do this as a full time career, because very, very few notaries are able to do so (and those that do have been doing this a long time). Just do a lot of advertising, and the calls will eventually come... but it will take some time.
The NNA Certification doesn't mean much... it might help you get your first job, but that'll be it. I would suggest taking a more thorough certification course such as the one on 123Notary - there's several other websites that offer certifications, such as Notary.net or Signing Registry. These aren't as universally recognizable as the NNA Certification but most signing agents will tell you that the NNA Certification is not very good.
Since you're new, you need to focus MORE on the notary aspect and less on the signing agent aspect. As a notary you have virtually unlimited liability and have a duty to the state. You need to learn your laws and become an expert on general notary work BEFORE you try to do the signing agent thing on top of it. Those who try to become notaries and signing agents all at once are the ones that screw up on both the notary end and the signing agent end of things.
Robert T. Koehler
Notary Public of the State of Florida
State-Approved Official Notary Educator
Commissioner of Deeds in the Bahamas and New Hampshire
Certified Loan Signing Agent
AAWO-Accredited Wedding Officiant
Weddings: www.NotaryWeddings.com
Classes: www.NotaryAcademy.org
Nothing in the foregoing post is to be construed as legal advice. I am not an
attorney licensed to practice law in any state and can not give legal advice or
accept fees for legal advice. |
Edited by - FlaNotary on 10/11/2010 12:26:50 PM |
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karlarf
Texas
3 Posts |
Posted - 10/11/2010 : 11:09:29 AM
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Hello,
Iam a new notary and taking the exam for signing agent. I have not had any assignments yet. I have passed the background screening and have passed the national parts and I am taking the state part on my Certification exam tomorrow..when I pass the exam..I was wondering what would be a fair price for me to charge (HERE IN HOUSTON, TEXAS) considering that I really don't have any experience but I will have a NNA Certification and Background Check?
Thanks so much for your help,
KarlaRF |
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What 's a Fair Fee if I'm Certified but New...
