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davidlwilliams
Massachusetts
47 Posts |
 Posted - 01/31/2014 : 07:02:02 AM
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Fidelity is now requiring $100,000 E&O insurance, four times what NNA advises as what is appropriate. They will not budge on this, so I am guessing their "approved" vender list will be small.
Certainly they will not have me on it.
With business so poor, I should quadruple my E&O on the off chance of a few more signings per year?
Oh...and my thought is that such massive insurance is an invitation to be sued. Don't you agree? |
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adergan
California
11 Posts |
Posted - 05/31/2013 : 5:11:15 PM
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If ALL notaries stuck with $100 minimum, then that becomes the minimum they will start to offer.
I won't do ANY loan signings for less than $100.
We should ALL stick together. If they call 3, 4 and 5 notaries, and all of them state $100, then they will start to figure it out.
I was offered $75 for a print and go (2 copies) and the loan package was 127 pages = 254 pages.
I told him $125 - I never got a return call.
WE NEED TO STICK TOGETHER TO MAKE A CHANGE IN THE SYSTEM! |
Edited by - adergan on 06/05/2013 3:40:18 PM |
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edelske
New York
815 Posts |
Posted - 05/31/2013 : 08:31:16 AM
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An addition to the spam filter.
Another way to get rid of the Lowballer is, when they offer 65$; tell them your fee is $250.
Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com |
Edited by - edelske on 05/31/2013 8:43:57 PM |
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LindaH
Florida
1754 Posts |
Posted - 05/31/2013 : 07:08:19 AM
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I got it too - I responded with my fee schedule. <<shrug>> No sense in burning bridges, but based on their fee offered in their e-mail I doubt they'll use me as my base fees are twice what they offer.
Linda
http://www.columbiacountynotary.webs.com |
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17336
North Carolina
8 Posts |
Posted - 05/31/2013 : 06:34:29 AM
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So I get this recruiting email from: Fidelity Law Offices- S. Charania, Esq., LLC.
Offering: $50 - $60 per signing, they say, "Further travel may allow higher fees. Please keep in mind that Orders will be assigned to Agents with the LOWEST fees! Given the volume, we must be very competitively priced."
So I replied, " Thank you for your inquiry,
After reading your offer I would really desire to know if you're office administrators actually sat down and thought through this offer.
It is important for me to know that the people I work with are people who are interested in being professional and respectful of their employees.
I get the impression that your company may not value professionalism but value the company's profit margin; I say this because of your offer of $60 for our professional signing agent services.
The following statements are just a few reasons why I feel your offer is less than professional.
1. The average signing from start to finish takes roughly, 1.5 at a minimum. (Email Communication/Printing/Reviewing/Mapping/Travel/the borrower signing/the mailing/Invoicing & Accounting...... Often the time spent realistically is twice that after administrating & accounting.
2. The average amount of affidavits in one package that need notarizations are approximately 6, a value of $30 per signer.
3. The average cost of printing is $12.50 per package and two packages are required for each event. One for signing and one for the borrower copy.
4. The cost of the notary's insurances, subscriptions, professional certifications, advertising, cost approximately $400 annually.
5. The cost of gasoline in car maintenance goes up every month.
I'm not sure if your agency is knowledgeable of this or is just ignorant to the actual time and cost commitment for each professional signing agent.
If you are interested in hiring professional agent who will uphold the highest standards then you will most likely to hire me.
My fees are: $100.00, and may increase if fax backs are requested or if mileage exceeds 30 miles
My trip fee is $50.00
My print fee is $25.00
You'll find my fees are typical for industry standards on the East Coast.
Thank you for contacting me and I look forward to future business opportunities.
Kindest Regards,
Hey Signing Agents!!! Don't take $60 for signings!!! That's a business killer for you, and all your fellow signing agents!!
Don't be foolish... They will pay you what you're worth..
Kimberly |
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