These agencies are full of the kinds of people desperate and greedy who could care less about their notaries. They view us like cattle. On average they’re not among the highest of character of human beings. That’s why many are LLC’s.
It’s interesting to denote 75 days now and still waiting from Designated Title in Texas. The only one that has given me a hard time getting paid. They really could care less. They started playing a game early on talking about paying me by ACH but preferring by wire. It was a hoot. The signer offered to pay me directly but I upheld the rules not to do that when not prearranged.
I’ve since offered them a payment plan opportunity since they’re apparently struggling to pay.
It used to be a lot worse 7 years ago. They just wouldn’t pay at all in some cases. Today I like the emailed checks so they don’t get lost in the mail.
Should you ever denote a serious legal issue as I have related to alleged blacklisting notaries based on their fees, we all need to get on zoom meetings because notaries have no power in their eyes.
WATCH YOURSELF
A plain agreement among competitors to fix prices is almost always illegal, whether prices are fixed at a minimum, maximum, or within some range. Illegal price fixing occurs whenever two or more competitors agree to take actions that have the effect of raising, lowering or stabilizing the price of any product or service without any legitimate justification.
I’m in Colorado. 36 years in real estate and despite all my efforts I could not get a title co to respond, nor any of the independent mortgage companies I have worked with. I started closing for overworked title companies in 2001. But eventually there was no need. I have been a signing notary for less than a year accepting not so great fees. I know the business, but a 300 page or more closing needs more than $8 an hour!. In accepting the low fees, I feel a bit like I am betraying the business. Intersting that one company mentioned on this forum is paying more to agents in Colorado Springs than Denver. This last 2 weeks, I had a lot of personal things happening and I decided to just answer back with higher fees as I did not care if I got any assignments. I have not had one signing in more than 2 weeks. If I want any work, I need to accept any fees within throwing distance of what i want.
I really think I need more resources with a little more respect for our skills. I will be applying for some that i have seen listed here, but if anyone outside the Denver area has some good resources, I’d like to hear at marilynexley@gmail.com.
Thanks.
Ive been at this for 9 months. There has got to be some law out there that 30-60 net days are illegal. Boycotting sounds good but in order for ut to stick we need something to go into law a rule. I keep getting a company thats net 60 I honestly want to ask why 60 days as we are an important step in you getting paid in whats 3-7 days but us 60 days… a petition would be a good place to start…Its rediculous!!
I think NNA should play a role in the advocation for notary payment schedules. They certainly make money off us. We or most of us use NNA for background checks, E/O, etc… Those who have been stiffed by a sub-company need to have some kind of avenue for recourse. In the past fifteen years, I have weeded out every company that has jerked me around regarding payment. Companies that make you sign an “agreement” that states you will not contact the title, or the client if you’re not paid is a contract violation of due course. What I can share is if I haven’t been paid within 30 days, I find out who the registered agent is for the company. I then find out who owns the company and then “it” begins. Trust me, out of thousands of closings, I’ve only had one that I couldn’t collect and that’s because the person/entity filed for bankruptcy. If I work for someone new, I let them know at the beginning of the conversation if I have to chase payment, it won’t be pleasant. Put the company on notice right from the get-go. If they don’t hire you, you dodged trouble. Closings are not brain surgery and they’re not complicated. It’s simple contract law: offer/acceptance/consideration.
Doesn’t exist, but should. I remember I took a closing bundle last year. 5 refi pack with same signer 2 hours away. I told title I needed all docs 3 hours prior. I got them, but as I drove to the signing about every 30 minutes I got an email stating the closing package had been updated and needed to be reprinted. By the time I got there, all 5 had been updated. Long story-short…they only got updated CD’
Forum: a place, meeting, or medium where ideas and views on a particular issue can be exchanged.
Enough said. FYI, I have reviewed Notary Cafe forum many times if I encounter a duplicitous signing company. It’s a source of research for some of us. I’m very glad that notaries have shared their experiences.
They can get away with it because there are always newbies who will take jobs for whatever crumbs are offered. The signing services don’t care. They’re going to get their cut no matter what and will sacrifice quality before profit if they have to.
I fully support this 1000%!! Someone on this chain who is organized should start a petition and have every single Notary who performs closings sign it to spread across the nation and all social media formats to gain momentum so the SS & TC’s will take us serious.
J_curruie raised awareness = Boycott 30 day payment schedules
I proposed the solution = www.change.org to start a petition
We NEED someone to = execute the movement. (It will take a village of rising tides) :
I’m in Texas, and the part of Texas I’m in is saturated with newbies so much so that signing agencies are now offering $50 - $65 for Refi’s and Purchase’s. Which have around 200 pages to print X 2. And the newbie’s are accepting them without putting in a bid for more. I went from making $4,000 a month part-time to being lucky if I make a $1,000 a month, because I refuse to accept anything lower then $100 and they will not accept my bid for more. The only time they accept my bid for more is at the end of the month when they are desperate to get Mortgage Loans closed. I’m sticking to my guns though and will not work for free even if that means I only get one assignment a month. I will take a job somewhere else and do signings on the side before I give in and work for free.
Stick to your guns lady! Let me share with you want I think will happen. The newbies (if they’re good at math…) will figure out COGS (cost of goods sold) and how much it really costs them to execute a closing. Trust me I’ve been there, done that and have many a tee-shirt. Nobody who has any business sense is going to work for those kinds of fees for very long. Youtubers make it look like it’s a million dollar business and those who subscribe will have their dreams shattered soon enough.
Yes, 75 miles round trip in VT does not equal 75 minutes of driving. We have mountains, mostly 2 way roads, and dirt roads. Winter makes it even worse.
I don’t get $275 a closing, but my min is $150 and I average $175.
Sometimes what Happens in areas without notary saturation is a couple notaries take a bunch of closings and then cannot got others in their schedule. Then title has no option but to either cancel closings or pay requested fees to get it done.
2020 was an awesome year for me, 2021 has averaged out to be okay but nothing to write home about.
I live in a remote area, have long distances to drive, and have never been offered the fees you claim you’re getting. I’m title direct with about 1/2 of my engagements.
I’ve made counter offers that are rarely accepted. I would consider acceptance of my counter offer an anomalous event. I don’t accept every offer made. I accept the ones I can make a profit.
Getting back to the original topic, I don’t generally engage with Title or SS who exceed 30 days. 30 days to pay is standard in American business. I have a few on my list that pay longer. I have special arrangements with these long pay clients. I’m not able to disclose the details due to NDAs.
Addressing tertiary matters; I don’t agree that newbies will eventually figure out their COGS and adjust accordingly. Too many lack the business acumen to figure this out and eventually close due to reserve cash starvation. We’re seeing some of these stories on this forum. Unfortunately there are many who bought the hype of 6 figure income, who are willing to take low offers, waiting on the runway. The NSA training schools train on how to do closings, they don’t offer much on how to operate a small business. Please don’t misunderstand, training schools are good at what they do.
Many of the NSA training coaches are telling these folks to take the low ball offerings to gain experience and their income will grow. What we do is a commodity service that is highly dependent on local market conditions. Too many notaries and too few signings drive fees down. This is why its important for most of the US market, to have a second income stream.
: