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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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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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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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 - $250 was quite common. The ‘demand’ was high while the ‘supply’ was low.
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I agree with Matt here. We are all independent business owners. We cannot unionize as we are not employees. Additionally, I don’t believe signing companies are taking advantage of us. What works for one may not work for the other. For example, if I lived in Orlando Florida and another notary lived in deltona Florida. We both received the order at 50$ 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
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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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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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I have been using Notary gadget for the four years I’ve been doing loan signings. They calculate the mileage and everything else I need for my taxes. A very good service and not too expensive. Well worth it.
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I respect your opinion. Everyone has the right or option to pick and choose. The reality of the matter, a company can not take advantage of any Notaries. without the Notaries approval. There’s this old adage, “people don’t plan to fail, they just fail to plan”, that adage is applicable to this situation. Here’s the raw truth, companies are not “holding a gun” to any independent contractor’s head, thereby forcing them to accept these “low ball fees”. We operate in a free business marketplace, meaning we all have freedom of “choice”. Let’s talk basic 101 economics supply and demand, over abundance of loan signing agents, along with a drop in mortgage lending, creates a reduction in loan volume is a perfect storm for reduction in signing fees. Now, I didn’t say these companies are charging their borrowers lower fees for the loans, most lenders are charging the same fees as before, if not raising their rates. Let’s understand these companies have no legal obligation to pay us higher fees, if they can get the same work done at a lower fee. Just like each of us have the freedom to choose our assignments. It’s okay if we agree to not to agree, but no worries thanks for the feedback.
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@Myshadowmax Great! 
I rely on Notary Assist. It’s the Best! 
I have been using Notary Assist software for many years. It’s simply AWESOME!
The Notary Assist software is:
- User friendly
- Easy to sort the data with column sort priorities
- Perfect for maintaining the schedule of engagements
- Simple to monitor accounts payable
- Easy to create new Clients and support team members in my database
- Creates invoices
- One-step backup process
- Data entry in overview mode or within each engagement popup screen
- Great to ease of accessing data at Tax Time
- Excellent report creation tools
- Easy to alter previously created engagement data
- Outstanding mileage monitoring reports
- Software is designed to report income correctly [exclusion of notarial fees from income reports]
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When I see The lowball fees of 30 and $40, I laugh. I live in a rural area and eventually they get back to me willing to pay what I’m asking because they just can’t find anyone. Unfortunately, in areas that are not rural, they get away with this. I do not accept assignments in those areas. I refuse to lose money completing an assignment. There was a fellow in my area who was taking lowball signings for a couple of weeks but has since disappeared. It’s a lot of driving for a low fee. Quite a few of my signings occur when the company contacts me directly instead of posting. Nothing like Having a good reputation for successful signings.
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Exactly, companies will pay what the market dictate.
Notary Gadget does basically the same thing.