FASS does something that I call “shopping” for a LSA, when one of their orders doesn’t get snapped up on their portal. They gave me a call today, asked if I’m available. They had a mortgage modification order that was a hour one-way travel time from my location. I told them that I charge $250. They said they’d send the order over to me, if my fee was approved.
I’m not gonna spend two hours driving, print documents, and time at the signing table for a lowball offer. I saw one of their mortgage modification paying a fee of $40. They need to properly compensate me, I’ll be spending about five hours on that order, including travel time, prep time, and time at the signing table. I do not expect to get that order. Funny thing, while typing this topic, I just picked up a hybrid signing order for $275 that has a travel time of 42 minutes one-way, and 30 minutes prep time. That’s why I do not consider “low ball” offers. Alexander Graham Bell stated - “When one door closes, another door opens.”. Business is going great!
I just got sent a mortgage modification order from FASS, and they’re approving the $250 fee I asked for. I just had to put it out there in the universe and it worked! Guess I will be taking a two-hour round trip drive this week. The good thing is that the package is small — 15 pages (times 2) with one notarial act. This feels like a trip back to 2015, where companies was paying good signing fees. In just a few hours, received two signing orders paying me a total of $500. “Well blow me down,” as Popeye the sailor man used to say!
That is phenomenal! I could not agree with you more that we, as notaries, have to know our worth and not be afraid to ask for an appropriate fee that covers our time & materials costs. My first year, I was taking all low-ball offers because 1) I needed money to keep my fledgling business afloat and avoid going back to corporate, and 2) I needed experience.
Now I am better established and more experienced, so I am pushing back on the low-ball fees orders and countering with a more appropriate fee. Some I do get assigned to me; others get assigned to other notaries. But, the important thing is that I am not wasting valuable time and resources doing work to enrich a greedy signing company when the fee they’re collecting from the client is more than enough to ensure that both parties are well compensated!
this may be a stupid question, however I have not heard of a hybrid signing. What is a hybrid signing(of course I can google it but I thought I’ll ask since I just saw it in your post)
There are no stupid questions; if you have one, others likely do too. cNsar5 described hybrid loan signing well: meet with borrowers in person, use a computer or tablet for digital signatures on digital documents, and bring paper documents for signing and notarization. These assignments are efficient because fewer paper documents are needed and they take less time to complete.
My experience has been that the electronic part of the signing has been completed before our closing appointment. We always have to confirm that, though! I haven’t had to take a laptop with me to one yet! Some companies send the full package plus a smaller package if the e-sign has already been done and you print whichever package is appropriate
