I just received an order for a RON closing with this company for the measly fee of $25. Somehow they feel this is sufficient compensation for us notaries when they don’t realize that each closing is different on its merits. They made us take a webinar which was totally insufficient for providing a notary with information on how to even close these many questions were asked at this webinar and they couldn’t even answer plus they said we were the ones that dictated the fee and then they send me the email and tell me it’s $25. We are not pawns in this business and no notary should stoop so low to accept $25 for a RON closing. Other companies start at $65 and even that is low when a lot of people on these closings can’t even work on the internet or can’t get their photos to upload or the internet goes out during a closing so as a notary we never know what’s going to happen at a closing and this company feels they are a slam dunk deal they’re not!
If I’m not mistaken $25 it’s an average fee for Ron and then there’s an additional charge for each signer on most platforms. I recently signed up with Mortgage connect and I find that for the regular signings they’re very frugal. For a refinance or HELOC their fees arrange from $35 to $50 to print 90 pages x2. In some cases there are multiple signers for the same fee. they hardly negotiate and it’s weird because when you first sign up they say their average fee are from $65 to $80. I thought of just doing a few of them just to prove myself and see if they come up on pay. Possibly use them as a filler.
Thank you for your reply… that was the email that he sent me and in doing their webinar it is the most confusing ron I’ve ever seen since I’ve been doing them for 2 years other companies are much more easier for the consumer but I’m still not going to do them I advise them by mail it’s just isn’t worth my time and effort to give up a closing date for a company that’s more realistic.
I know times are rough for everybody but these companies still make between $400 to $700 a closing and to pay us $25 is really an insult.
Reading this thread is very discouraging. A once respected viable profession that was able to provide a livable income has been mostly degraded to the level of standing on a street corner waiting for the farmer who needs migrant day-workers to harvest crops for less than the lowest minimum wage in any state…thanks to XYZ, videos touting anybody can make big bucks (you just have to be willing to work at a loss a few times… more like forever) …and the platforms, who are exceptionally good at finding an eager newb in an over-saturated, low-volume market who will work at a loss ‘for the experience and to prove themselves’, when all they really do is throw chum in the water for the next batch of schools of newbie-fish.
The Lenders and Title companies have increased their charges since the $150 days AND are making up for the lower volume by keeping way more of the fee due to the feeding-frenzy of newbs and proliferation of new SS using the same platforms while vying for the little business available. Am sure they laugh at the fish all the way to the bank.
Richter… yes you hit the nail on the head or as they say now YOU NAILED IT! When we read the closing statement and see these companies getting more in closing costs and the notaries less each year it’s just pitiful! One company two days ago told me . Oh well you don’t have to drive, fax or use paper! Ya well what about our brains to save some of these loans as the loan reps tell the borrower want they want to hear and then the closing figure is wrong… so who saves the deal? The notary. So NO to accepting a crappy $25!!!
Where do you even get these job offers. Not that I want them for $25 but I have signed up with 6 or 7 Ron companies to only get $10 GNW.
Same thing with RON…still more than needed, dead in front of their computer & hoping to be faster than a whole country full of peers–only to get $10/GNW. This is learned only AFTER you’ve gone broke paying the high start-up costs, hours of learning, But, they’re still watching the 'failure is not an option/just keep doing the same thing over & over while you expect better results" (which is a good definition of insanity) influencer hype videos to convince themselves that success will come–right after I accept this loser! I find it really sad to see so many young people doing this to themselves while not spending the time they waste hoping looking for a job with benefits and a paycheck every week. Sadder still are the people who keep pushing this because they’ve found a need and have filled it * (along with their bank accounts).
You can clap all you want to 'keep Tinkerbell alive", folks, but Tinkerbell never existed.
Hello! Did you ever hear of a separation between the lender/title company and NSAs that was rumored to be part of the TRID laws when enacted? I thought I remembered hearing of this but I’ve been researching, and cannot find anything similar, even in the proposed legislation. Do you remember anything like this?
No, don’t remember anything like that. You might be thinking about appraisals magically coming in exactly where Lenders needed them to be?
Sadly their get rich quick scheme is making them MILLIONS while spinning the notaries wheels, while simultaneously stealing our money. I found out yesterday by calling first american title out on it, and they said they use their own employees. So they are training RON from within. I fear it will change the mobile loan signing agents business dramatically in the future. My prediction: RON will be the death of us all eventually. The technology is so bad on some of the platforms I have been finding myself correcting RON signings lately. So truly I hope it will fail. 
luckily I only paid for one program for a year, the rest I did the free versions.
Well said. They think nothing of the hours we have spend through the years savings these reps loans from falling out as they know nothing about loan closings and it’s procedures.
I agree - example: I checked the websites for the title companies local to me (within my county) - every one of them are offering online closings (RON).
I called this some time ago in a post right here and on another forum - it will be more cost effective for title to train a couple employees in RON and do their loans in house remotely…totally eliminating the need for a mobile notary. The only market that will remain are borrowers who still do not trust doing things online and want a face-to-face with a notary - and that market is dwindling rapidly.
You decline it. Then move on. They are a title company and have gone from best to worst. I have complained to them because they are constantly complaining about shoddy work but they won’t pay for experience and quality-just move on.
It’s so sad isn’t it. Another job bites the dust!
Yes I told them to take me off the list that my time is more valuable than I’m usually $25 an hour heck I could work at McDonald’s for that!
An example of a RON last month with a different company. Signer 1 took twenty minutes to download ID. Signer 2 took additional ten minutes to download ID and could not answer five KBA questions in two minutes and platform cancelled signing. Title called me back to let me know order is cancelled and customer will have an IPEN notary come to their residence and close on notary’s device. My time and effort resulted in a 0 fee. So there is that too.
Ouch! Hope that doesn’t happen often. Don’t do RON, but it seems there are issues you don’t know about until they happen and you don’t get paid a dime for failures beyond your control… Wondering…cuz it failed…the platform doesn’t charge you, right?
Oh I’m so sorry to hear that and that is exactly what I am talking about this company who is paying the $25 fee says oh you don’t have to worry there’s no drive there’s no facts there’s no copying and I responded to say that may be true but there’s a lot more time for people that cannot download their IDs and then the internet goes out there’s other things that happens and we’re stuck there for an hour to hour and a half with no fee so I totally understand what you’re saying I think we all need to band together and do not take a remote closing under $65!
I had heard that this was going to be their offering fee, Can you counter offer with Mortgage Connect? I also attended one of the webinar’s offered and it certainly looked more cumbersome than the ClearSign platform.I had asked if we could all sign together but was told that signers have to sign everything first and then the notary goes through and signs and notarizes. If the stars are aligned and the borrowers presigned on ClearSign I can have those done in 10 minutes.
I haven’t seen a RON from Mortgage Connect yet.