What should notaries be paid for Loan Mods? I keep seeing them for $40 is it worth it?
@sandralea Like you, also see Loan Modifications for $40 & require scan back with extensive travel time.
So, certainly NOT worth it at that rate even if 1 or 2 miles away due to the cost of gasoline with travel to & from the client-preferred signing location, return trip to office for scanning (if required), then trip to Shipper after standing in line to handoff package for shipment.
FYI: The business entity that proffers those abominably low Fees for Loan Modifications RARELY accepts counter-offers.
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Thanks, that was my feeling as well, but I wanted another opinion on it
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So many things go into determining a Loan Modification fee. I’m talking volume of printing, number of notarial acts, travel distance, and the negotiation skills of your LSA. Back in 2015, I was paid $50 per job, but I’d often book multiple appointments at once, ideally in the same area. This meant getting all the borrowers to the same place, like a Panera or Starbucks, and scheduling each assignment 15 minutes apart. I live in a competitive geographic market, so getting hiring companies to increase their fees is somewhat difficult. But not impossible, a company called me direct and I was able to negoiate a fee in the amount of $250. That assignment was located an hour away from my location.
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You don’t have to take any job at $40. Last loan mod I did was out of county I was paid $125. It was worth it.
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Hi are you getting a lot of work these days