I don’t think I am the only one. It has to happen to everybody. Price shopping has become rampant by signing services, title companies, and the general public. I’m not surprised since they’re pretty good at finding LSAs that charge less.
Fieldchoice sent me an email at 11:48 am about a USA refinance package, from previous experiences their loan package page count usually around 200 pages or more the fee offered was $85. I ignored that email. Fifteen minutes later my phone ringed it was Fieldchoice calling, asking if I was available to take an loan assignment refi for $95. I countered with $125. I knew what the game was and that they were price-shopping. The representative told me they had to seek approval for my quote. So I wasn’t shocked when I received an email that said the signing order had been accepted by another LSA. I already have an assignment for this week paying $250. When I crunch the numbers, my operating costs increase and profit margins decrease if I work for Fieldchoice. Where as if I keep myself available for the other company, I have the opportunity to earn more money, incur less in operating costs, and have more time for other profitable business activities. So I am good on bypassing jobs with Fieldchoice, especially when they are not willing to meet my fee requests. I would like to hear about others experiences…
We all have our stories (aka, gripes, complaints, issues, whatever) and we like to share them on this forum. Me included. However, it may be a good practice to omit the name of the signing services that “price shop” or unfairly dicker over fees. One will surely be scratched from their roster of available notaries if they see their business name linked to some unhappiness on the notary author’s missive on this forum.
Better to refer to the SS as just that - “signing service” and then tell your story. Why alienate a SS that may one day send you some nice jobs that you would take? Who knows what’s down the road? JMO
Incidentally, my thoughts do not pertain to the junk SS that stiff us on our well-earned fees. Like P or C, both of whom appear on the gripe list for so many notaries. We all know who they are.
#johnsonps306 - “feed”, I assume you meant “fee”. LOL, sometimes my mind thinks faster than I type too… FC as far as I am concerned is a reputable company.
Why are people still choosing to become Mobile Notaries at this time when interest rates are going up, the loan industry is going soft and fees are lower than ever before.
I kinda disagree with ‘not naming’ the lowballing or very slow paying or troublesome SS. I won’t be working with these types again, anyway, but naming 'em can save others from grief.
Because it’s still being hyped on YouTube, e-mail, a well-known unnamed Nat’l assoc., and fb posts in many groups as an easy way to make big bucks. Always somebody who doesn’t ‘think it thru’ or do any research before jumping in, or thinking somehow they’ll be the ‘special exception’ looking for easy big bucks.
True enough. But since not everyone has the same experience with the SS they do work for, I think it’s best (for me, anyway) to not disparage the names of the SS that, for some reason, do not pay as they should. SS are known to “blacklist” notaries for such actions. JMO
#johnsonps306, I get it. People are looking for ways to enhance their lives. Becoming a Notary Public/Loan Signing Agent is a low startup cost investment and easy entry. Most of us know, some people fall victim to the marketing hype. Let’s be honest, where else can a person potentially make $50 up to $200 in a couple of hours? Just for stamping and placing their signatures a paper? Here’s the truth, it’s doesn’t happen overnight, it’s hard work, and there’s a lot of risks. But people are not talking about the “risks”. Nor are people talking about the long hours of research and knowledge learning, such as state’s satutures. Today, I made $250 completing a 35 page hybrid refi signing that took 35 minutes. But it didn’t start out that way! I am sure there’s other LSA/Notaries making much more than I do. But let’s be honest, companies that pay those types of fees are not knocking down our doors.
percent!
Unfortunately, it seems that of late the ‘number’ of those has been increasing . . .