Old Republic Joins the Cheapest

The Old Republic now wants Notaries to do closings for $95. That is the national average they say. National average according to who? I explained we are now paying $5 gal for the gas cost to print do the notarization is worth more than $95. They even wanted one with scan backs for $95. I told them what I would charge and they responded they would call around as see if they could find one to do it at their price. If the notaries are willing to do this for this price you do not know your worth. You do not even know what your overhead expense is. You are making them a profit at your expense.

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Sorry, I’ve seen signings go for $62 in my area with scans.

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$62 ? I see this amount quoted all the time on this forum. Do they really offer $62? Is that amount derived from some mystical formula or is it just what someone thinks will be attractive, like, you know, a little more than, say $60.
I have never been offered $62 but I get $30 offers weekly from C2C for some crappy settlement signings somewhere. $30 bucks, are you kiddin’ me!?!?

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One came through today for a reverse mortgage for $45… :hear_no_evil::speak_no_evil::see_no_evil: not from Republic… it was a snapdocs offer

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The $62 offers are real! Lol

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$30?..…… no way!!! With printing and driving too?
Dang, I don’t even do $40 RON!

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That sounds like a Reverse application :joy_cat:. For Reverse loan, $45 is beyond ridiculous

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$95 actually is not too bad, I saw many companies start with $75, and one particular company starts with $62 :scream::scream::scream:. I know many newbies take those low offers right away so that they TC and SS can make more money out of signing agents ~ it’s very sad!!! Yet, with such slow market, there are still many people believing that six figures approach and trying to jump in notary world now :joy::joy:. Speechless :no_mouth:

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I am not looking for a 6 figure income, but I do expect to be paid a reasonable rate of $100 with no scans reasonable. You say well it is only $5 yea but next time it will be another $5 and then another. Notaries need to know their worth. You are paying for your licenses your insurance your background check being in communities to help your business these are expenses one needs to consider when dealing with their rate.

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@jcnotaryexpress Concur :100: percent. :owl:

I’ve been stating this for awhile now . . . as well as Angela and (see Notary Cafe url direct links below).

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:swan:

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Did two closings for them last year. one for 125.00 and the other for 150.00. They kept on screwing up the paperwork and asking me to go back for a reduced fee. After the 3rd screw up I told them not to call me any more and I refused to go back. They tried emailing me the request and I asked them what they did not understand. From incorrectly prepared documents to missing documents they did it all. I used to do plenty of work for them in real estate valuations but I finally stopped when they asked me to change the valuation to suit their purposes. Ironically three months later they asked me to re-do it again to what I originally said. Stick to your guns and don’t reduce your fees find other work. Reduced fees spell TROUBLE every single time.

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Yes-those reverse mortgage fees that I’ve been seeing are ABSOLUTELY RIDICULOUS. From a text convoy between myself and a scheduler at a SS when I told them, after accepting the order for $75 for a reverse mortgage app before I saw what it was for (copying and pasting here):

Me: I’m sorry, I cannot do this closing for less than$175. Reverse mortgage applications require me to print over 300 pages plus a borrower’s copy, gather a list of documentation for the loan officer and just by their very nature (elderly folks who need detailed explanation and often have physical difficulty signing) along with the massive number of signatures needed are very, very time consuming.

SS: We pay $75 for a reverse closing.

Me: I apologize, but please reassign this one.

SS: Angela, will you accept $85?

Me: No, I will not. I’m very sorry, if you cannot pay $175, please reassign.

Bulls****.

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A 300 page app?? And printed twice? Uuhhh…no…when I did them they were about 80 pages, printed ONCE - no copies left w/ borrowers. The real pain was getting them to have their paperwork ready to go back - which never happened.

I always charged my full signing fee for the apps because of this.

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Again, location (distance to the signing) is key. I see gas is of concern, and should rightly be so. But to play “devils advocate” here, if your car gets 26 miles per gallon, they are generally telling you that you can travel 26 miles on 1 gallon of gas. Every car comes with a city MPG and a highway MPG (because you burn gas at an idle while not moving). But the same applies to the city MPG (miles per gallon). So in perspective, based on this example, if the job was 26 miles or less away, you would have spent $5 or less in gas to get to that job. Double that number if you want to include the return trip back home/office. Depending on the amount of time you sit in city traffic, as opposed to a straight run, this needs to be factored in as well (time is money). Moral of my story? Most look at gas prices, but have no idea on what they actually consume in gas per job. So if your looking to fill your 13 gallon tank on every job (which gets you 338 miles), you “may” be expecting too much. Based on the example/calculations given, you could have went to a job 50 miles away and spent just 20 dollars in gas, burning 4 gallons in gas (100 miles round trip) at $5/gallon. Also, 55 miles per hour means just that, an hour to travel 55 miles on a straight run. Crunch your numbers in gas and time based on such, then decide whether its a “low offer” or not. Me personally? I would have been all over that job for $95 if it wasn’t more than 26 miles away. And by me accepting such job, doesn’t make me an “inexperienced” NSA, and to boot, I would have made a profit because of the way I operate my business. Just “food for thought” here!

Wow. Reverse mortgage with over 300 pages x 2 and at least with 2 hours at the table. I would have asked if that was an error.

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I used to get my assignments from Old Republic directly…now I see they are sending offers through Snapdocs

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I know right… I can’t make this stuff up… I had to blink a few times to make sure I was reading it correctly

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Yeah, in Seattle it is like $60 with scanbacks offers. I havent done a job for them for 2 years because of how low their offers are. Not only is gas going up, so is paper and ink, car repairs… everything
Its crazy right now.

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(CA) When a title company offers $60 for a signing with scanbacks, who actually accepts that offer? This topic is discussed on this forum ad nauseum but I still wonder if people actually take these assignments and wait 45 days for a lousy $60 bucks. It’s almost impossible to make a profit or even break even on jobs that pay so little. I’m guessing that nobody takes those jobs and title raises the fee to $75 and they get grabbed up.
Why do I even care – I never would take those jobs. Once in a while I’ll take a $50-$75 one or two page signing if it’s real close by or I’m just sittin’ around on my fists, rockin’ back on my thumbs. Golf money.

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I’ve received a few $62, and other odd ball fee offerings in Texas.

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