Received an email notice that notaries will now sign an Errors and Omission Agreement on signings for Mortgage Connect so their mistakes can be corrected by the closing agents in their office.
Seriously has it come to this??
Why not stick with the notaries who return completed correct packages and pay them fairly instead of worrying about fixing notary work.
spoke to these newbies couple of times they were the one informed me what they are getting paid and when they asked me how much i charge I just kept quiet
This development is disappointing, though unfortunately not surprising. Rather than prioritizing quality and building relationships with experienced notaries who consistently return accurate, and complete packages.
Notaries should be cautious. Each time you receive a low-paying offer, consider that many platforms use automated systems to test how low you’ll go—adjusting the fee every 30 minutes, hoping you’ll accept out of desperation during a slow day.
These offers often appeal to newer notaries who may not yet understand the true cost of doing business. A $65–$75 signing may seem attractive at first, but when you factor in printing two sets of 190-page documents (paper, toner, equipment wear, time), travel time, mileage, unexpected signer issues, scanbacks, and drop-offs, it becomes clear that the rate doesn’t begin to cover the workload. Some offers go as low as $45—which is unacceptable.
What’s more, many of these assignments do pay $150 or more—but platforms count on enough notaries settling for less. Keep in mind, the total closing fee may be $525 on the Closing Disclosure. Don’t undervalue your time, expertise, or business.
Make informed choices, and don’t be afraid to hold out for what your work is truly worth.
I had to let them go, finally. ALL their offers were ridiculously low for extensive notary time. It would be great if I did not have to divide the total fee by the number of hours it takes, but I must. It becomes volunteer work and as much as I like this job, I do need the money.
@sanderazeeYes, absolutely accurate for some regions, but it’s also true that there are some remote locations wherein the Professional Signing Agent [PSA] can successfully negotiate a reasonable Fee for the professional services to be provided.
This can be quite frustrating regarding the disparity of vendor management from region-to-region. Unfortunately, it’s completely contingent upon the PSA saturation in your region and the Fees your competition is willing to accept . . .
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As I often express it’s all about location, Location, LOCATION (just as in other Real Estate transactions).
===>>> Over the years I’ve noticed that occasionally PSAs will relocate from their home base region to a different region/state that is booming with Signing Orders [SOs]. Of course, most don’t have that type of luxury choice available.
As business owners, we each must make appropriate decisions regarding ensuring the stability of our business from a financial as well as time standpoint. It can be quite challenging in this business sector.