Should RON Loan signings be paid the same as in person because of the time it takes to tag?
The time is doubled. I know They should maybe pay a little less but the going rate seems to be like $20-$40? Thats way to low when it takes twice the time.
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But you’re not printing or driving, so they pay less.
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Plus, you’re not standing in-line at FedEx, UPS, USPS, etc. to handoff the document package and no time expended to gather a receipt as Proof of successful handoff to the appropriate Shipping Staff Member.
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I have to agree with Bonnie - I would not accept an assignment for $20-$40, printing and traveling or not…I could be convinced to do them for $65-$75 IF and only IF the signers were well-briefed in advance and I was only going over the notarized documents.
JMO
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$20-$40 will NOT cover your costs as an RON to perform the transaction. Do not accept unless you are running a non-profit business.
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thats what I thought. What do you think of the popular Notarize platform only paying $25 for loan signings. Blue Notary will pay $40. Now on those platforms they “bring you the clients” just like a signing service would. I get that too but I still think they are paying WAY to low.
Yes. $65-$75 would be better, however I still think would be too low, considering the time it takes. yes its nice that you dont have to drive, and all the extra ext… but just preparation alone takes longer then the signing its self. The downloading, uploading, tagging, and review, session set, and just ALL that goes into it is A LOT of work and shouldn’t be paid so low.
people right it off like its easier untill they do it.
This is the future of what we make as notaries and the rightfull pay for this work needs to be taken into consideration.
I really apriciate your insight on this,
Thank you for hearing me 
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The RON signings I do for agencies just require that I sign into the portal and walk the clients through the process. The document review and tagging has already been done by the title company. The process usually takes no more than 10-15 minutes. Is this being done another way on other platforms? I have not seen nor been offered RON signings at less than $65.
On the independent RON portal that I use for private signings (SignIX) you are correct that the document review and tagging, setting up the virtual appointment and communicating with all participants are all my responsibility. But, on that platform I set my own rate and my SOS allows me to charge $25 for each notary seal. So, I have a standard set-up fee and I charge $25 for the first two notary seals and $15 for each seal thereafter.
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There was a notary who used to post here who converted over to mainly RON closings - she posted her RON closings took about 15 minutes. This was her statement…I don’t do RON so I don’t have any personal experience with them. However, from reading here - they don’t take as long as your traditional loan signing - so, to me…$65-$75 is decent for 15-30 minutes work.
JMO
FYI TO ALL MEMBERS: Her statement is TRUE when working with ONE specific Title Company ONLY. Plus, in that system, the signers don’t validate their identity via a Knowledge Based Authentication [KBA] system. In this instance, the signers & the notary are utilizing the title company web portal for identity validation. Much easier & very FAST. So, a totally different design platform.
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Most of the RON platforms are designed wherein the notary must setup the page, move digital elements to each page to be notarized, etc. Also, they must wait while EACH signer accesses & is approved via the KBA system, which is routed through the credit reporting agency systems for identity validation. In addition, there is a fee charged to the notary for each KBA system access (whether the signer is APPROVED - or not).
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So, in my direct experience it’s a COMPLETELY different realm of required actions to be taken during the process. Of course, my direct experience is purely (and solely) anecdotal.
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a Remote online loan signing took 15 minuets? It was probably already tagged. Oh yeah if the documents are already tagged for you then $65-$75 is defenitaly appropriate. But if your bringing a client to your platform you will need to charge at least the regal fee for in person because of the tag work.
But yeah these online platforms like Notarize that are only paying $25-$40 for loan signings are a bit upsetting.
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10 min for a loan signing? and yes it would be much faster and alot less work if the documents were already pre tagged for you. I think maybe tagging alone should be understood as a fee. Most of these platforms expect you to tag when bringing your own clients, alot of these platforms expect you to tag even when they bring you the client, and still pay you as low as $25.
Here is the reality that I have experienced as a RON since 2020 and have transitioned to fully RON since that time. The platforms that you contract with will use the first notary who connects with the signer. This means the platform provides the signers platform and has invested in all of the technology. So, you are agreeing to what they have set as the fees. It’s your choice on whether to work with them or not. During the busy times of the month until this past year, I experienced up to 6 individual signings per hour. On real estate signings, I could do 2-3 per hour. It is surprising how quickly you can set up your notary elements up depending on the platform.
Then, in the middle of 2021, my former clients, who used me as a mobile notary, started requesting me as a RON and now I am handling more of these assignments than the call center ones, at the fee per notarization that my state allows. It takes 30 minutes to an hour to do a closing because of the package size and about 15 minutes for an individual document. The time includes the KBA process that the signer goes through. Each package usually has 6 documents on average that require notarizing so you can figure out how much a closing pays. Because I do these on the platform(s) that I use, there is a fee for the closing or signing. When I am not handling my own signings, I still go onto the platforms and take care of their business. That way, I stay busy. I am not traveling so I can take on more business and last minute requests and I make the same, and sometimes more money than I could as a mobile notary.
I hope this helps.
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RON is the way of the future for the industry. It’s a faster process and more convenient for all parties, it is “dummy proof” in the manner of preventing errors. Yes, the fees will be lower than the traditional in person process. Overall, it will give the Notary more opportunity to earn more money and spend less toward operating expenses. On the other side of the coin, Notaries need to be more knowledgeable on the state statutes, especially since the sessions are being recorded. I highly suggest that if a notary is not willing to invest the time to fully understand the requirements of RON, that they do not jump haphazardly into performing this service.
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Thank you, i apriciate the input, however. This all sound like work that has been pre tagged? My original question is more so about the platforms that low ball and expect you to tag.
Would you take $25 for a large loan signing that you also have to pre-tag?
Tagging alone takes at least twice the time, then the signing its self.
yes, agree. NO i wish i had frased my question a bit more clearly, but I am mostly talking about tagging. Some platforms provide loan packets that are pre-tagged and its all ready to sign. However, alot of platforms that bring clients, expect the notary to do the work of tagging all documents. this is a HUGE difference in time and work. It takes at least twice the time to tag a whole loan packet. that can make an online loan signing more time consuming then in person, and its definatly ALOT more work.
So my point is that if we as Notaries dont set a Fee for Tagging, then they will keep trying to use us for it. There are plaforms that only pay $25 to tag and sign loan packets.
ty, I should explained that and been more clear that Im talking about the platforms that expect you to also tag. Thank you
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Yes it is. We should be paid for our time, coordination and facilitation of the signing, platform fees, and tagging! $20 -40 will not compensate for all of that.
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