Hi, I just got contacted by a new company I’ve never heard of. They need someone to do a loan modification of 40-50 pages. They’re offering a $40 fee for it and it’s right here in my town. I’ve actually never done a loan modification and not sure what to expect. Does anyone have any knowledge or dealings with this company? I get the sense that they are new? Does $40 for a loan modification sound low? They’re also expecting to have the documents faxed afterwards. I’m a bit skeptical, can you tell? Any help would be appreciated! Thanks.

From reports (no personal experience here) - low pay/slow pay/no pay company - rating of 1.5 stars out of 5 on Notary Rotary. I also seem to recall reading recently either here or there that they’re not paying anyone…

Again - no personal experience, just reports I’ve read. If I were doing signings (even as a beginner) and they contacted me, I’d refuse.

To answer your question too - loan mods are short and sweet - and signers usually know exactly what they’re getting into as they’ve negotiated it already; however remember you have to print that 40-50 pages twice; so them shopping it as “only 40-50 pages” is a joke. Then fax/scan back? THEN go drop the package? Well, you do the math.

Good Luck


I’ve done loan modifications for $45. They are simple.


You do not need to print twice as the borrowers already have their copies. Uploaded docs only need to be printed once and everything printed signed and returned. Fax/scanned copies can be sent end of your day or next morning. Docs not date sensitive so if needed you can reschedule with the borrowers to better fit your schedule.


$40 for ANYTHING is too low. I don’t step foot out of the house for less than $100, even if it’s one signature. Modifications usually require minimal signatures and take 10 minutes or less (unless you have someone that wants to read everything).


You need to ask questions up front. Some companies will tell you it’s 30-40 pages for the $40 fee, then when you receive the order you may need to print 3 sets of 30-40 pages. Beware and always ask questions.

Everyone should have a base fee, a minimum amount to get you to even step outside your office. Personally, that fee for me is $100, that is what I charge for a single doc inside my own zip code or maybe in a neighboring zip code for a repeat client.

When determining what your services are worth it is important to do all the math and go from there. First, you need to figure out your NET take home so take that $40 and subtract 30% in taxes, printing @ .06-.08 per page, mileage to and from @.55, and to and from again if you have to return to your office to scan then another trip to drop docs for ups/FedEx, then other operating expenses Cell, Internet, Office, Licenses, Insurances, Training, Advertising, Professional services etc.

Watch what happens to your $40
Taxes: $12
Mileage 15 miles: $8.25
Printing 80pgs @.08 each: $6.40
Misc other expenses: $5

$40-12-8.25-6.40-5 = $8.35

20 minutes to receive, print and prep docs
20 minutes from your front door to theirs
20 minutes of signing
20 minutes of driving their front door to yours
20 minutes in invoicing, collecting, depositing, and misc

100 minutes of work for $8.35. NO THANK YOU! Less than minimum wage after expenses to enter a stranger’s home and risk your health and provide professional services.

Even at $100 after expenses, your net is $50. Leaving you with about $30 per hour, my mechanic is $99hr, plumber $125, attorney $275, landscaper $50, barber $40.

You are a professional providing a professional service in the banking industry, you have to demand respect as you are essential and sometimes our clients forget that. THEY CAN’T do their jobs without us, get paid for your time and reject low-ball offers no matter how tempting it is to just stay busy.


This is good info, to analyze our cost, and what we should ask for.

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Don’t work for Signing Trac unless you don’t need your money. I worked a lot for them in 2018- a first they paid Net 30 then it took longer and longer and longer. I quit working for them when it took me almost 3 months to get paid and that was with Consistent Nagging!

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That is why they send them for 40 to 50 that is way too low when you know that the company is making way more money off of the borrower , and we are doing all the work. no signings should be under $100 if every other notary charges a $100 or more these companies would be force to pay that , and we again are doing all the work


Actually, you’re new. Loan Modifications have been around for as long as banks have been agreeing to modify notes. There was a lot of modification work for notaries starting when the mortgage industry went south after 2007.

Personal experience RUN !!! waste of time and the pay is insulting. All about CHEAP!!! Out of the 15 I negotiated I completed 1. Many of these folks were offered mods and denied. Docs are loaded with issues i.e date2 4 21. docs may state payment of x must be received by 11 15 2020 or this is null/void. Waste of time. Read on WF forbearance nightmare.

if docs is 50 pages (100 with 2 copies) it’s 7 to 10 to print. down to 30.00.

I do not care # of sigs it’s my time that is valuable. I get the same rate to drive or sign.

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I have done a few loan mod’s for Signing TRAC in the long ago. Signing Trac stiffed me $40 and borrower and I couldn’t get it turned around. I have been a practicing loan notary for 15 years, and worked in mortgage before. The loan mod is very simple, but getting dressed, driving over, taking the time isn’t worth it, unless you are on your way doing something more profitable.

I don’t go out of the house for less than $200 with a least a days notice regardless of the size of the package. There’s a pandemic so a small size package does not change things for me. Same day closing is $300. If they are calling me in the same day that means they cannot get anyone.


No Way!!! I’m with dcaldwell on how he broke down what your end profit will be once you factor in all the time and work. WHO is going out of the house for $40??? It’s just not worth my time. I was working with a signing company who only offered a flat rate of $70 for any and every type of signing. Someone told me to get with them because they’ll keep you busy. When I did the math, I made more doing 4 signings than I would have made with them doing 8 signings. Needless to say, they stopped calling me. I know some of ya’ll need the money, but you have to know your worth and be patient in establishing your pricing standards. Some people are even doing these signings for $40 at NIGHT. Are You Crazy!!! I said it before and I’ll say it again…“All money, Ain’t good money.” Bye Signing Trac!!!


Do you actually get paid that kind of money? I’m asking for $115/refi and getting passed up

Yes, but I live in Roanoke, VA. It depends upon the area. A lot of people take signings for less than $100 but they don’t last longer than a year. The first one I did was $40. They told me I had to do low prices to get experience. What a joke. I believed them. ha As you know there is a pandemic. “Old School” prices don’t work anymore. It’s the “new normal”. I have developed a reputation good or bad, ha I don’t answer emails or texts. I wait for them to call me. When they call me it is because they can’t get anyone else. A lot of times it is the same day which is $100 extra for $300. Last year I only did a few more than 150 signings. I don’t work every day. I don’t want to work every day. Most people do not like or want to work on Friday evenings or weekends. So I work most every Friday evening. Scanbacks are an extra $100 I just don’t tell them. I just include that in the price I give them. They almost always have to call me back to get permission for my prices. Usually their limit is $125 without calling their boss.
Last 10 signings

  1. 285 (Girl begged me down. ha)
  2. 325 (Girl begged me down again so I stopped coming down after this.)
  3. 300
  4. 400
  5. 300
  6. 500 (Same day, 1 hr 30 min round trip)
  7. 400
  8. 200
  9. 300
  10. 300

Remember there are always new notaries who will work for next to nothing. I am not faulting them. We all have to do what we have to do. Good luck. I am not suggesting you follow my prices if you need the money. You could end up with no work. I am blessed.


I’ve completed about 17 signings for signing trac. I am a new notary. Being that I’m new I’ve taken those assignments. It is two notarizations 39 pages shouldn’t take long to complete. You scan the documents back for them to review that day or the next morning and then once approved they send a shipping label, I would say pay runs about 60 days.

Is this in December and January.

I hope you’re charging (and being paid) two trip fees - one to get the signing done and one to go drop the packages. - mileage and time is money.

And JMO but 60 days is way to long to wait to be paid - there’s no reason they should be sitting on your money that long.