Just received this text from Mortgage Connect, it made me laugh.
"Mortgage Connect
Date: January 02,2025
Time: 01:00 PM
Driving Miles: 60.80
“Refinance
-Approx Page: 130
-Copies: 2
-No Scanback Req’d”
Fee: $ 65.00"
This is not how I will start the new year!
Oh I got one for 170 pages and $65. But I countered $110 and got it.
Next time, double their original offer (assuming that figure is profitable) and see what happens. Lately, it seems to me that the original offer will only cover actual expenses.
Somebody must have invented a new algorithm to see how many will work for free.
I’ll try that. This one had actually started at $55 but I ignored it. I guess Townsgate is the same company they do the same thing. I don’t do anything for that fee.
Even if I did consider that offer, my counter would have been between 4 up to five times their fee. To drive approximately a total 120 mile round trip, print 260 pages. It’s got to make sense.
All chuckles aside. This is not nearly enough for a sixty mile drive, especially if that is one way, this would be approx. 2hr.round trip, which I wouldn’t do for less than $125.00, whether one page or not. Even if it’s 30 mins. each way, I don’t think that is reasonable. I could never get through Mortgage Connect’s extensive initial application. I did finally get it done at one time, but according to an email i was sent the wrong application, unfortunately, I haven’t found the time to redo it.
I determine my drives by county, none longer away than 45 minutes nor farther than 40-45 miles. In the past two years I have reduced my signing area down from five (5) to only my county and one other, and my driving distance no farther than 20-25 miles. I will only accept jobs inside my zip code for less than $100 (within blocks of my address). I just don’t see the economic benefit otherwise. Granted, I have earned less this year than in any other year. But, I am okay with that. As long as things don’t get worse, I will ride this speed until I no longer have the interest or the will to “negotiate” for a few dollars more.
(Now that I think about it, I actually have taken $75 loan modifications that have flexible scheduling within 3 days. They only take about 15 minutes, and I only take those if I can fit them into my schedule either going to or coming from another assignment.)
Understood. My post regarding doubling fee was a generic-type reply to johnsonps306 post of $110 fee–which didn’t include mileage/time info. And I meant that $65 should be doubled due to pkg. size and it would have to be a very short drive, too. And I heartily agree with your assessment of your counter–‘gotta make $en$e’.
Mortgage Connect is working on a lot of early January but I am not doing them for the offers. Someone will get closer than me but that’s okay too.
Here in S. Texas I have regularly been receiving blast emails for $20 and $40 with 60+ pages and scanbacks. I counter and keep countering the blasts trying to raise the offers but someone must be taking these offers for them to keep coming.
I have had a service provider be hateful with me that I dared ask for $75, and another got snippy and just couldn’t understand why I wouldn’t pay for parking and go into massively huge metropolitan hospital for $40.
Meanwhile, every other robo-blast signing I have accepted I have to chase for payment repeatedly. I keep doing it for extra funds but it sure is frustrating when 2-3 levels above are getting paid but they aren’t paying the ones doing the work.
I’ve learned to stop following the masses. Since the avalanche of new loan signing agents. I started to look for other ways to generate revenue.
They have definitely lost their minds. Lol
First of all I stay within a 15 mile radius of my home. I always counter those guys and most times will get it.
They pay too low and I am starting to steer clear from that company.
Pre-Covid Mortgage Connect would offer $150.00 to start. Not sure why they got so cheap.
Simple and short answer: Because they can. They have found there are notaries who will accept that scandalously low fee. So, why not keep offering/paying that? If more notaries rejected that fee and countered with professional fees, then Mortgage Connect would accept and pay those professional fees. They did during the Pandemic lockdown and even pre-2020. I used to work with Mortgage Connect/Inspire Closings quite a bit – quite a few for $150 and many for a lot more. 
Nothing since June 2022. That’s how long they’ve been super cheap. 
That holds true for all the signing services and title companies! I had previous conversations with various title and signing services representatives. They are paying the going market rates for each geographical area that LSAs are willing to accept.
I’ve been averaging an “ask” of $100-$125 for jobs no more than 30 min. each way and no more than 100-125 pgs. Also need to be in daylight hours as I’m not looking to dance with any deer (prevalent in my area). Larger packages with scan backs adds another $25. On average, a 100-plus page doc takes at least 2 hrs. to prep. With that, travel time and appointment time, at $100, I’m making maybe $25/hr. Add up the cost of scan back time, supplies, gas, etc. and that amount goes down even further. I know I’m lucky that this is just a “side gig” for me and can say no to quite a few, but I’m not going through all that for nothing - especially after seeing the amount allotted to “Notary” on some documents that are double what I’m being offered. All in all, I’m getting maybe 50% of jobs through signing services. Direct contacts from attorneys or realtors pay much better, but not as frequent. Last thing - I’ve started to answer calls that are from area codes I don’t recognize as they are generally direct contact job offers.
Loan Mods at $75 is good pay. Here in California they start them at $40. It’s one file with two or three copies, two to return and one to leave with the signer. They also have a scan. Even if they are 5 miles away it is not a good deal.
I never signed up for MC, their application packet is daunting and the pay is low. 130 pages for a refi is decent, I have done them with over 200 pages, and two copies and a scan are required. When we come familiar with the Escrow and Lenders, we know which one require a modicum of work and which ones will add an extra hour to the signing time. In a lean market we are tempted to do the heavy lifting but I always ask for more money.
I get those same offers of loan modifications at $40. I just don’t take them and I believe this is a different company. The company I work with has an estimated date and signing time. But we can negotiate with the signers within a three-day window and time that’s convenient to the two of us. The same 15-30 page document with 2 to 3 signatures with two sets returning.No scans required. Yes it is pretty good money when you can sandwich it between other opportunities.
