I’m finding that many of the title companies locally (A small-medium sized city of 300,000) pay staff minimal wage to conduct their closings instead of hiring independent notaries. Have others experienced this as well, or is this a unique situation in my market?
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Nope…pretty common, actually.
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Not unique to your area. It’s performed on a regular basis in my region.
Are you still able to find opportunity/appointments in areas like these? Have you found anything that has resonated well with escrow officers in these types of markets?
It seems to me to only be common practice in CA and a few very large cities around the nation. The local TCs in the counties I service view me as the competition as they do NOT get the out-of-state Lender business. Just curious…are you an LSS grad? You may have better luck if there are m/l independent mortgage brokers in your area as these folks can sometimes call the shots.
Hi Jeff, signing your Loan in a title company office is where most of us signed our loan documents. Only since the Internet has there been an opportunity for lenders to sell loans over The phone. I for one thought It to be a unique opportunity when I did my first loan closing back in 1998. It wasn’t until a year later when one of my signing service, yes they had signing service is back there, failed to pay me for a couple of dozen loan signings. So I googled them on my dial-up Internet and found that they had a reputation amongst other notaries for not paying for the signings. That’s how I found signingagent.com, basically a group of pissed off notaries who were being ripped off by signing companies. This was years before the NNA purchased them and their membership of thousands of signing agents.
I suspect some of you reading this work In-house. Good for you but I wouldn’t last a week signing loans and making copies all day for an hourly wage.
Hello Jeff,
This is a very common occurrence in west central Florida.
Yes, there are a few that come from large west coast based lenders, but loans generated locally often close w/o notary inside title company.
EFH
You could change your marketing to say when your notaries are sick or on vacation consider you.