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KanDoNotary
Oklahoma
69 Posts |
 Posted - 07/26/2013 : 11:54:25 AM
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Saskia, kudos on a good letter and a great outcome from it. More of us should send similar letters when we have issues with the signing/scheduling services. I sometimes wonder if the TC/LO even has a clue what's being paid to the only person who sees the borrowers and gets the paperwork signed.
In my experience, signing/scheduling services have proliferated in just the past 4 years, after the meltdown when things started moving again. It does seem to be an easy way to make a buck--phone calls (or lately text or emails) to area notaries to take the job, then keep a good chunk of what the borrower is being charged for the service. But as others have commented, they are unregulated, untested, and often seem to be unscrupulous, and at the least not good business people.
If the TC/lenders would go back to contacting the notaries directly, I think it would be better for all...well, except the SS
Have Seal, Kan Travel! When you need a document notarized, I cover all of NE Oklahoma from I-35 to I-40 to the state borders. Call: 918-798-8908. |
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saskianotary
California
11 Posts |
Posted - 07/11/2013 : 10:46:01 PM
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After a highly obnoxious scheduling service "president" recently attempted to short my check $20 on a late night signing, I contacted the head of his title company with the following letter hoping to put the squeeze on scheduling services in general. Within 2 days I received a check
The amount borrowers pay for notary fees is holding steady and the market is currently picking up, yet notaries are being squeezed as if it were going down. Furthermore, when notaries attempt to discuss these issues on professional forums we are bullied and threatened with blacklisting. These are an indications that this particular job sector is in need of some fresh checks and balances.
It's expensive to be a notary. We are regulated and must pay all of our own expenses including for training, testing, background checks, bonds, insurance, car, gas, supplies, equipment and advertising.
The scheduling service claimed that he normally only pays notaries $x. My rates are highly competitive for my area. The normal fee for services through scheduling services in the Silicon Valley when working directly with TC is $150-$175 and with scheduling services $125-$150 because we have to split the fee. Please see the following links to the services and fees pages of my two highly reputable local competitors a and b.
A professional recruiter typically takes a 40% cut when placing a w-2 contractor with benefits or 20% when placing a 1099 contractor without benefits and who must provide and maintain their own equipment. A professional recruiter also pays to post jobs on Monster, etc. Whereas notaries have to pay the lists of professional associations and are eagerly waiting to be called.
As you can see from the amount of my invoice and notary fees listed on the HUD, the scheduling service received $x which is over 40% of the total fee. There is no sound business reason for an unregulated scheduling service to be taking these huge cuts. Even after this huge cut the scheduling service has attempted to short my check after requesting late night services. This is an outrage!
It helps a notary to look and act professionally when we are paid professionally. It helps us to focus on our jobs when we aren't worried about whether or not we are going to get paid and when.
Perhaps it's time for lenders and TCs to include accountability mechanisms in their contracts with scheduling services to ensure that notaries are being paid properly and in a timely manner.
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Squeezing back on Scheduling Services
