I recently got an email from Mortgage connect asking us to unsubscribe to them rather than blocking their text offers. I guess they’re getting a slew of folks that are blocking their text offers. Why won’t they just pay a little bit more $ than $45/$50 per Signing? Just because there are starving people out there, It’s not nice to take advantage of them. Now we all know several other companies out there. Who else knows any other companies? I took one Signing from them for $125 and it was about 300 pages with scan backs. In my opinion, for $125 they got a good deal. It would definitely be above $125 for me to take another one of their Signings.
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All the people talking about low fees. I have a solution just say no.
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Yep…just say NO. It really is that simple…and almost impossible to get everyone to do it.
The law of supply & demand has been working in their favor for too long…and all we ALL need to do to turn it in the other direction is to ‘say NO to low.’.
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The only time supply and demand wasn’t working in their favor was during the first 2 years of Covid. Volume of refis was way up due to interest rate drops and volume of available signing agents was down because of notaries sitting on the sidelines because they were afraid of catching Covid. Signing Agents were able to make some pretty good money during that time.
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Yes, it “sounds” simple but the reality is that some people are so desperate that they will grasp at any straw…even if they lose money by doing it.
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I saw that email. I’ll keep countering their offers
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I been a Loan Signing Agent for a short period of time since 2015. The conversation about low fees have been an ongoing topic since I started and mostly before my time as well. At the time I began, the low fees was considered between $75 - $100. Today low fees fall around $40 - $70. Today, I got a phone call from a signing service offering an loan assignment for a fee of $200. Here’s the catch the round trip travel is 128 miles. I must give full disclosure, I work six counties in my base of operations and that signing company service has my fee schedule on hand. Total time for completion of the assignment back to my home will be 3 hours. When I deduct my costs for doing the assignment, I will earn around $36.61 per hour net after expenses. Here’s my point, companies are not taking advantage of Notaries, this is a business. Companies are operating under the market conditions economically in a depressed real estate market. Each individual loan signing agent has to determines their own value, not the companies. I do not accept every assignment that comes to me by texts, email, or phone at subpar fees. Therefore, my volume of loan signing orders has declined. But when I do accept an assignment it’s at a rate that meets my expectations. My average signing fee is $109 since the month of June. I am very strategic in the acceptance of loan signing orders. You better believe these companies have long-term strategies in their plan of operations. Each loan signing agent needs to do the same thing too.
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@docusignexpert1 Have you see this thread?
NOTE: ===>>> The 2024 CURRENT IRS mileage rate is = $0.67
FYI: I created this thread in October of 2023.
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Well guys and gals I just watched a video by the CEO of snapdocs and it might Suprise leaders are not making much money right now. But the mindset of some on this forum is like unions give me my raise don’t care if you go broke. It should get better but wew have been going downhill in this business for the past three- and one-half years.
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Do you have a link or a URL to that video from the CEO of Snapdocs? Forget for a second about asking for “more” money. We just don’t want them “decreasing” fees, as they have been. They’ve always been low, but we can’t survive with them going any lower.
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I would like to but after reading it i deleted it, wasn’t able to get it back from the
trash google goof. Just try google and ask for snapdoc monthly newsletter.
They can’t take advantage of the willing. Just sayin’
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The idea that INDEPENDENT notaries are going to unionize is really very funny. Who would they bargain with for better pay, themselves? Sounds like a lot of notaries don’t understand what unions actually are and what collective bargaining really is.
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Fees were very, very good 2000 to about 2005/6. Never walked out the door for less than $125…$150 - $250 was quite common. The ‘demand’ was high while the ‘supply’ was low.
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I found the link hope you enjoy the link. How Mortgage Companies Can Use AI to Fix Profit & Loss
I found the link look at my comment look above
I agree with Matt here. We are all independent business owners. We cannot unionize as we are not employees. Additionally, I don’t believe signing companies are taking advantage of us. What works for one may not work for the other. For example, if I lived in Orlando Florida and another notary lived in deltona Florida. We both received the order at 50$ for a small package For the orlando person including traffic it may not be worth it to take it. For the notary in deltona it will likely be a great order to take. Point is, stop shunning people for low orders each notary business is different, each market is different
I am not sure what happened, but when I first signed up with them they were offering $150.00. This was great! Now, they offer the low ball signings. What happened? I don’t know, new management? Sad to see a company go from being fair and honest to being greedy.
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Look at my link above it will help you understand. How mortgage companies can use AI to fix profit.
BALONEY…they are taking advantage of the NSAs. While you may have the luxury of picking and choosing, many do not!
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