I received an e-mail today from Notary ASAP telling me that escrow companies are lowering their fees to signing companies. In turn, Notary ASAP and other signing companies will have to lower their fees to us, signing agents. I am so dismayed by this trend that I sent the following reply to Notary ASAP and wish to post it here as an open letter to all signing agents.
Thanks for your forthright message regarding the desire of escrow companies to lower fees to signing companies, and therefore to signing agents. This trend is outrageous and disrespectful. While I understand the desire to lower fees to borrowers, cutting the already paltry sums that we are paid will not affect borrowers one iota. Instead, it will drive all of us who depend on this work into bankruptcy. The cost of running a business and of daily life has not decreased. Indeed, it has risen as the economy is gaining strength and inflation is a growing concern. While you may find that some desperate agents are willing to work for lower and lower fees, I for one, will refuse to do so. If you truly value our hard work and dedication, as you say you do, I urge you to stand your ground and push back against this attempt to devalue and disrespect our professionalism. Only when signing services, such as Notary ASAP, stand up to this intimidation will this ugly trend be halted.