What do you think about Mortgage Connect only paying $45-$50 on refinances with scanback!! And notaries accepting these orders!!! It is insulting. I know business has slowed down but offering and accepting these fees is ridiculous .
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I quite frequently reply with a counteroffer and often times am granted the higher fee. If they can find someone who will take it for that cheap so be it, but if they cannot, they will pay the higher fee. If you do a lot of signings for them then they know you do good work and are willing to pay more.
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I think it’s absolutely ridiculous and insulting. The problem is people are excepting these fees. Just look at what they are charging on the settlement statement. Somethings wrong when I made more money for closings and the packages were much smaller 18 years ago. If people stop accepting these fees we wouldn’t be having this discussion.
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When I first met them several years ago, they would start off with $150.00 and I was happy to work for them. Now, I ignore them.
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On the whole the packages are large and complicated. I don’t respond to any offers from them.
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That is exactly what Ido and sometimes I get the orders but it has happened a few times only
Agree with you 100% and it is ridiculous and insulting
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I do not work for $40 on Refi’s. I usually counter offer.
It’s not worth the time, printing costs, gas, as well as, paper for that fee.
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I just had a company offer $50 loan signing. It’s just wrong compared to $120.
My commission was expiring because of my October birthday and Mortgage Connect started sending me reminders to update. Here was my reply:
"Your low fee offers and absolutely insane security system that requires way too many password changes, inspire me to let your business go to notaries that have more patience.
Please stop sending me offers of any kind unless there are changes to your lowball fees and you can figure out how to make it so at the very least, we can have our password autofill, and at best, keep the same password for as long as we want.
Thanks for the business up to this point."
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I agree. Do not work for any company that exploits notaries. I do not work for an amount less than 135 if scans are required. This amount is more for companies that don’t work regularly with me.
These are starter rates and they hope to garner up the majority of the notary fee by starting so low. The signing company controls the notary fee paid to the notary. They usually can afford to pay twice what they offer the notary and still make good money on the deal, The new inexperienced notaries will do these for the starting quote just to get business.
definitely wasted time and not worth it
This topic has been beat to death.
@richlandmobilenotary Yes it does continue . . .
And this continues as well . . .
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Regardless of the wisdom we earnestly share multiple times a day, the evidence is that the novices elect NOT to learn vicariously . . . because they’ve bought into the “line”/lie advanced by the TikTok/YouTube videos hawking wares shouting about easily earning a “6-figure income” by accepting all the lowball fees and/or starting a “signing service.” Those who are experienced within this business sector know for a fact that this hasn’t been true for several years for some & has NEVER BEEN TRUE for most!
Of course, that individual DOESN’T simultaneously admit that his signing service is one of the business entities that is taking direct advantage of those choosing to follow his videos - not solely by the purchase of his wares, but also that he hires at those astronomically low fees.
Right, no new topics and new SAs don’t use the search function. Got it.
You are right! I worked in Escrow most of my adult life. Notary for over forty years. Title fees, escrow fees, appraisal fees and many more fees have gone up! Yet they want a notary to travel an hour away with 150 pages for a $75.00 fee?? If you calculate all your notary cost you are perhaps profiting $10.00. I will not accept these low ball offers!
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I’m tired of them. All the new notaries take the signing so they keep offering low rates here in St Louis
Same here in Florida. Those notaries are desperate and they’re driving this business down