Yesterday, a signing popped up in my area offering $84. I had no other appointments scheduled, so I accepted—only to find out afterward that it was for a reverse mortgage application.
Now, I’ve done a lot of reverse mortgages. I know what they involve: multiple document sets, client education, acquiring documents from the signer, and the kind of patience and experience that can’t be faked. I also know I won’t touch an application signing like that for less than $150.
I immediately contacted the signing service and explained the situation. The representative told me, “It should be easy—there are no notarizations.” That response told me everything I needed to know. She clearly had no idea what a reverse mortgage application really entails.
So, I gave them a professional choice: I’d complete the signing for $125, or they could reassign it. They chose to reassign.
Here’s the issue:
A reverse mortgage signing is not a standard appointment.
Transparency matters. If it’s a reverse, say so up front.
And lastly, if you’re staffing signings, please make sure your team understands what they’re assigning—not just what’s on the fee line.
Experienced notaries bring more than a stamp. We bring knowledge, clarity, and care—especially in complex signings like these. And that’s worth paying for.
Well said - sorry they chose not to use you but you may have dodged a bullet.
I’d like to add one other suggestion to those who have not done one of these yet - make sure you’re clear with hiring party that this is a separate transaction than the final signing. DO NOT accept “you’ll be paid when the loan closes” - NO! Pay on your fee schedule - if you like net 30, then net 30 it is. Too much can go wrong before closing - and if it never closes you’ll never see your money. Also, by accepting the “you’ll be paid when loan closes” you’re basically doing two FULL signings for one bargain basement price - and losing money.
Thank you @MHMobileSigning for bringing this subject to the fore.
Reverse mortgage gigs are a whole different ballgame than regular refinance signings. Five years back, I wouldn’t have touched one for less than $250. Even though a reverse mortgage is a refinance, from what I’ve seen, they usually come in two parts. The first part is all about the application, which often means dealing with a HUGE stack of papers. And since the signers are usually older, things can take a bit longer, so you gotta be patient. These reverse mortgages are expensive to close, and the closing team (loan people, title companies, etc.) make a lot of money. I used to sell these as a loan officer, so I know they’re super profitable. So yeah, I know what I’m worth! That $84 offer was a total joke, and that company sounds shady.
Back in my time (yeah, back in the old days of 2006-2013) My fee for the final closing was $150 within my own county; my fee for the application was $125. The apps take time; the final closing sometimes goes very smoothly, sometimes takes a ton of time. Some older are very savvy, some just need some extra TLC…and patience.
@MHMobileSigningwow! $84? As you’re already aware, this is an abysmally LOW FEE to proffer.
Concur percent with your assessment.
Now that you’ve “done a lot of reverse mortgages” you know that it usually takes hours at the signing table (regardless of application or actual loan document package) for the Borrowers [BOs] to:
Gather the required supporting documents
Make copies of their current government-issued photo identification
Comprehension with some BOs is razor-sharp, but some BOs not-so-much . . .
Address mobility difficulties
Accommodate challenges with writing/signing due to ill health, stiff joints, etc.
And so on and so forth . . .
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@cfletcherAccurate statement. Reverse Mortgages are completely different . . .
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FYI:There have been multiple Loan Officers [LOs] who have surreptitiously conveyed that they prefer NOT to work with BOs on Reverse Mortgages because it’s NOT a “good product” financially for their clients.
Yes. I received an offer for a reverse yesterday for $90 plus a $15 print fee. $105 is not enough for me to take that order. I didn’t even counter this offer because this service waits to the last minute to try and find somebody else cheaper and then calls you when they can’t.
You’re implementing your critical thinking skills exquisitely!
As a business owner this is truly a paramount process to implement for achieving Success.
===>>> Keep up the Great work!
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For those Notary Cafe members who are new to this business sector:
As I often express on the Notary Cafe forum in threads & posts . . .
Always employ critical thinking skills
Make decisions from a business owner viewpoint (not an employee)
Research & follow the Regulations & Statues within your own State for owning, launching, & operating a business
Utilize your individual State Notarial Handbook for insights & guidance for establishment of a foundational baseline to operate from for your business decisions
Undergo a reputable professional training program; i.e., Notary2Pro => I receive no compensation or remuneration of any type or kind as a result of this recommendation.
Review the Signing Order [SO] instructions in detail prior to reaching out to the hiring entity for clarifications
Seek out the guidance & support of fellow business owners via a reliable & professional online format; i.e., Notary Cafe
@cNsa5 "FYI: “Yeah, those loan officers have hinted they don’t like reverse mortgages because they don’t see them as good for their clients financially. There are definitely pros and cons to them. I don’t know the full financial picture of those clients, unless they’re struggling to pay property taxes, maintain their homes conditions, or keep homeowners’ insurance up. But for many people over 62, a reverse mortgage could be a really good thing financially. It allows people to get access home equity, which most times is the largest assets in most people’s situation. Just my two cents here, just for discussion’s sake.”
@cfletcher Understand that perspective as it’s a common theme “as advertised” on commercials . . . by Big Name actors, etc.
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Personally, I trust in the insights of experienced, trained & certified professionals who are in a position to have in-depth knowledge as well as have their ‘finger on the pulse’ of the current market conditions.
Certainly, it’s NOT something I ever share with any signers as it’s purely their decision to proceed (or not).
Those types of insights would definitively be outside my bailiwick & wheelhouse . . .
The continuation of this discussion is off topic in regards to being a Notary Public/LSA. In the past years, I have helped my clients use reverse mortgages as part of their retirement income distribution planning.
While reverse mortgages can offer certain benefits when utilized appropriately, it’s important to acknowledge that both forward mortgages, such as those involving refinancing or Home Equity Lines of Credit (HELOCs), and reverse mortgages carry comparable financial risks. Before any financial professional makes a recommendation regarding the use of debt, they should conduct a thorough financial needs and risk analysis for their clients. It’s also crucial to remember that businesses invest vast sums of money in advertising with the primary goal of encouraging consumer spending and, consequently, keeping individuals in a state of indebtedness. Have you ever seen the US Debt Clock? - https://www.youtube.com/live/O9ojGnWp6jg?si=TDZSFW3CpWrWehb7
I am definitely a green LSA (April), I’ve done a reverse myself, 188 pages and the SS told me it was one of the smaller packages. Even I didn’t take that signing for less than $150. $84 is INSANE.
Don’t take a reverse for less than 250.00. it’s almost a reem of paper, takes hours with the client not to mention the drive time. I know they like to send over the entire reverse manual, as well as appraisal - not your job to print all that.
SO glad I read this post. I was always curious what a reverse mortgage entails. Haven’t done one yet in the 6 years I’ve been doing this. Another closing I am curious about is Estate Planning. They always ask for two witnesses and one cannot be the notary. I assume this is another longer more complicated signing. Any input? Thank you in advance!
I notarized my first one about 20 years ago. When asked by the signers why there were 2 notes, the loan officer turned to me and asked me why. Because he didn’t have a clue what he was selling. Don’t get roped in by first agreeing to obtain an application from the potential signer. These loans are cash cows for the loan officers, and higher notary fees are involved. Agencies know this and also know thousands of newbies will do this just to get their notary stamp wet. Ask for the full $250-350 fee for that can of worms, or treat it as a learning experience without a kind and knowledgeable teacher to help you along, just an agency that will direct hate at you if you make even one mistake.
At that price the cost benefit is simply not there. Toner prices and other supplies have gone up and yet these title and lenders are getting paid a ton as well. There fees need to be more reasonable and especially with a reverse mortgage with other 300 pages and then they want a scan as well. Really?? My response to this would be “ would you do it for $84?”. And obviously there response will be no. And especially if you have to drive a plus 30 miles. This is ridiculous stay away from these scammers. Be treated as the professional which you are. And be paid reasonably as well. Don’t allow them to devalue your work and occupation. My take I’m out.
I don’t accept reverse application signings-they can be tedious. However, the actual closing of the loan-some of my favorite signings have been reverse clients. And package size definitely varies by escrow/title. I have done 150 page packages direct and charged no more than a regular refi, and 2 Fridays ago I had a 184 package, but..the signer was blind and the house was less than ideal. I powered through and they doubled my fee for getting it done.
In my area, I would never get $300 even direct so expecting to get that from a SS would never happen.
percent 
with your assessment.
Congratulations! 
