My firm did a few cheap jobs for C2C back in 2019 and due to some bad experiences, I chose to ‘not work with this company’ in the SnapDocs app. Forgot about C2C until now… Just recently, I started getting order requests on the Notary Dash Platform from C2C.
The latest was a loan modification for WFHM $30. Wow, but it was only a half-mile from our office, so I accepted. I was curious how WFHC is handling 3rd party signings for modifications of expired forbearances; that was my real motivation to take the signing. A few months ago, We took a WFHM modification-closing direct-hire at a WF branch and the pay was $125, not $30. I’m sure the new contracts for WF Mods are much lower than $125/ea.
The borrower was completely shocked by the modification terms and had objections to the docs and figures. I suggested I come back later, but borrowers wanted to call the mortgagor from the table. The closing took over 60 minutes, mostly waiting on hold with the mortgagor and getting disconnected, starting over. I finally got the wet ink and left.
Before the ink dried, I asked C2C to increase my fee from $30 to $60. They would not say yes or no citing a review process and instead just asked me to close out the order. 24 hours later, still no response on the fee request. I asked to speak to Lisa. I got a copy of C2C terms instead that reads, " ALL FEE ADJUSTMENTS AND INCREASES MUST BE NEGOTIATED PRIOR TO ACCEPTING ORDER "
I am an advocate for C2C making a profit and thus setting low fees for these mods. Does anyone know what WFHM is actually paying for mods? I heard the forbearance modifications are going to start coming in with hefty frequency. If WFHM is paying so little that the 3rd party service can only pay the notary $30 I suspect the notary is going to suffer. Even still, if any of my notaries have an extended closing, I pay the notary extra and hope the client will reimburse me. They always do. I suspect the majority of these forbearance mods will take less than 5 mins as it is a last resort. The notary should be getting a decent fee since they are the face of the mortgagor in a situation where the borrower is facing foreclosure.
Think C2C & Notary Dash are owned by the same person
Are you an attorney? Why in the world would you accept a $30 fee? I felt ill when I saw the $30 fee. I did a mod for fairway mortgage through bancserv on Nov. 29 for $175 and got a direct deposit on Dec. 1.
I don’t understand why anyone is taking such insulting low fee:(.
I am not an attorney. The answer to your second question is in paragraph 2 of my original post. Also below:
““it was only a half-mile from our office, so I accepted. I was curious how WFHC is handling 3rd party signings for modifications of expired forbearances; that was my real motivation to take the signing””
Thanks for your response I agree that they are insultingly low.
Understood. Thank you for your prompt response. I am sorry I had to ask when I saw the $30 fee. I wish NSAs would just ignore those crazy low fees. Have a nice evening.
Funny thing is a notary that I helped onboard early this year was having trouble getting $100+ signings. She was a short-timer NSA. Just for the heck of it, I started getting her cheap SnapDocs orders.
Did not print borrower copies. Instead told borrowers to contact thier lender for copies. Oops.
Made changes to the appointment times to better fit her schedule without permission from the assigning partner. Oops.
Printed docs with an old INK jet, horrible quality. Big Oops.
Did not do scan backs even when ‘required’. Instead uploaded the ID and ignored further requests for scans. Oops.
Printed all letter size, then all legal size because the $15 ink jet had one tray. Then, left the docs out of the correct order. Yikes.
Wore jeans and whatever was comfy.
Rubber stamped dates.
Did not drop docs immediately.
Used an electronic journal app instead of paper.
Expecting her to be dropped in rank and loose signings, actually the opposite happened. She started to pick up a ton of repeat work before she left. She was never docked pay for lates or no scanbacks. Of course, I was checking her work so there were no defaults.
Pay for what you get was the theory. She got paid little but spent half as much energy as I do for direct title co closings. Now that the refi crunch is winding down, I’m not sure she’d have similar results.
and best wishes.
Arichter mentioned the C2C and Notary Dash are owned by the same person. I’ve also read in this Forum that Prestige Notary is owned by the person who owns Notary Dash. Whatever truth there is to any of that, I can tell you that I have not had good experiences with any of these three signing houses. The jobs they’ve sent me, both accepted and declined, have been crap and getting paid??? Well, I’m still trying to get paid by Prestige for a job I did 3 months ago.
Given that there are SO many SS out there, crossing these three off my list doesn’t worry me at all.
I call these exploratory signings. I some times take these to learn about the lender, Title, and SS. I explain that the first signing is being accepted at a discount.