Holy crap, even in the busiest of metropolitan areas, that’s a crushing level of competition. Did you sort them by experience to gauge how many have less than a year’s experience?
This is a retirement gig for me, and I’m down to a 4 day workweek, late afternoon appointments at worst, and maybe 12-15 refi closings a week. Decent money for what I put into it, I’m content, think I’m treated fairly.
I don’t know how people who need this income to survive manage to do so without working a LOT of hours, especially when there’s that many people all vying for the next signing
Yes, it is ridiculous. Notarize 247’s net pay is 45 days, which when I signed the contract was 14 and they never told me. One is 90 days and others like Notary Nation don’t pay at all.
I agree! Even worse, they didn’t pay me at all, even after repeated emails and requests for payment. Mercedes Soliz is the contact person and promised several times to pay me but never did.
Notary go is at least 60 days so I stopped working for them. they’re also unscrupulous sending me to elderly people’s homes to get them to sign over their bank account information in order to put them on auto pay which these people knew nothing about what they were paying for.
This has annoyed me since I started working as a NSA. Why are we the last one to get paid but without what we do NO ONE gets paid within three days EXCEPT US.
This was the point of my original post. Companies that pay on a net 30 day, when questioned state, “its the industry standard.” Who is the industry? I can answer that; NO ONE! It’s a bogus answer to notaries so companies can either a.) make interest or b.) have poor capital reserves. There should be a unilateral payment period for notaries. I personally would be fine with “no later than 15 days after the N.O.C., has expired.” It’s not our job to aid SS companies in budgeting their funds. Our job is to close the loans. I guarantee you the loan officers and title are not waiting for net 30 and neither should we!
That’s why I don’t work with them anymore, that’s insanity 45-60 days. I think all that money sits to make interest before we get paid. We are an important step in the whole process of getting this funded. why? How? if the funds go through in 3-4 days why cant we get paid by weeks end? it baffles my mind.
I received a call from the same SS twice this week. First attempt I missed the call. Next day Tuesday, they called again. A very nice and professional lady asked if I’m available to do a seller’s package with scan back. I had one gap in my schedule and it was only 10 minutes from the other signing. So I thought I may take it if the price is right. But first I asked, “what is you pay schedule?” she said, “45 days.” I didn’t even bother talking about the fee. I said, “I truly appreciate the call, but I will have to decline.” She politely said, “Do you want us to put you on a do not call list due to payment schedule?” I said, “Please do and thanks again for thinking of me. Have a great day.” And that was that. Anything more than 2 weeks is a no thank you for me:)
Of course, they are making interest, not much, but it’s still a profit for the SS. The only way to get rid of this “industry standard” (that someone made up and the rest followed) is to boycott these companies. It’s pretty simple for newbies and alike, if you get a text, call, or email from a company that is looking for a notary before you ask “where and when” ask, “what is your payment policy?” If they say, we pay net 30, 45, 60, just say “Thank you, but I’m going to pass.” In order to change the closing business, we need to start working together and that means new and seasoned notaries. Just say “NO” to net thirty-day payment!
Fascinating, I haven’t been taking Bancserv closing in a while because I was crazy booked with others! But I closed 3 for them on the 28th of October to keep me in their loop. $130 each. I tried to get $150 each but she wouldn’t budge! And I just received my direct deposit notification from FNF this morning at 8:29am my time today Nov. 3rd:). They pay immediately right after the right to cancel period is over!
I forgot that they pay faster than anyone else about a week or so from the closing date!
I totally agree. Unacceptable. They got me one time that was enough Lesson Learned. I BLOCKED THEM from even contacting me after requesting payment 3 times and reaching a customer service agent with an attitude. Peace and forget my number.
EXACTLY! The newbies are killing us,but like you I dont work for pennies. So I can overload myself the end of the month and leave the rest to the desperate.
Then SSC will only order 1st part of month is my fear.
And I just received my direct deposit notification from FNF this morning at 8:29am my time today Nov. 3rd:). They pay immediately right after the right to cancel period is over!