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jdavisva

Virginia
67 Posts

Posted - 10/21/2013 :  7:03:02 PM  Show Profile  Reply with Quote
Thumps up! We have to stick together and not allow them to low ball us. Our time and expenses are worth more!

quote:
Originally posted by notaryslife

I got a pathetic $40 offer for a 14 page signing that included fax backs. I wrote back they're in low baller hell.

Sincerely yours,


Notary's Life

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edelske

New York
808 Posts

Posted - 10/20/2013 :  8:16:51 PM  Show Profile  Visit edelske's Homepage  Reply with Quote
quote:
Originally posted by tundrades

quote:
Originally posted by edelske

About 2 years ago Mortgage Docs sent me a "very scientific" analysis of the cost to process edocs. They calculated (if memory serves me right) that the proper "pass along" (note: without any profit) was about $5.37 for a standard 2 set printing. Of course he used the cheapest paper, lowest electric rate in the US, refilled toner, and valued at zero my time. Another entry in the spam filter.

Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com



My answer to these type is replies is I am a mobile notary and times I have to print on the road and if printing is done in Fedex or UPS the cost would $16.20 to 18 to print 150 pages. My printing costs are based on their prices. If they disagree with my prices then they can print the docs themselves and overnight them to me. They get the point.

Desmond OConnor



My printing costs are based on their prices.

How about your time and the gas to get to FedEx?


Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com
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notaryslife

California
348 Posts

Posted - 07/22/2013 :  9:01:24 PM  Show Profile  Reply with Quote
I got a pathetic $40 offer for a 14 page signing that included fax backs. I wrote back they're in low baller hell.

Sincerely yours,


Notary's Life
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tundrades

Texas
31 Posts

Posted - 03/20/2012 :  10:49:07 AM  Show Profile  Visit tundrades's Homepage  Reply with Quote
quote:
Originally posted by edelske

About 2 years ago Mortgage Docs sent me a "very scientific" analysis of the cost to process edocs. They calculated (if memory serves me right) that the proper "pass along" (note: without any profit) was about $5.37 for a standard 2 set printing. Of course he used the cheapest paper, lowest electric rate in the US, refilled toner, and valued at zero my time. Another entry in the spam filter.

Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com



My answer to these type is replies is I am a mobile notary and times I have to print on the road and if printing is done in Fedex or UPS the cost would $16.20 to 18 to print 150 pages. My printing costs are based on their prices. If they disagree with my prices then they can print the docs themselves and overnight them to me. They get the point.

Desmond OConnor
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pastormarkag

Missouri
21 Posts

Posted - 01/10/2012 :  05:17:45 AM  Show Profile  Reply with Quote
Stay Clear Of This Company !!!! Did a closing the first week of Nov. and was told 30 days for payment - No Check. Then was told it would be Dec. 15 - No Check. Then was told it would be Dec. 27 - No Check. Then I called and they said they would take a look and call me back - NO Call. Then I was told they would have accounting specifically look into this and call me the next day - NO CAll. Finally got my check on the 10th of January. Tired of being lied to over and over by companies that require our very best and then give us notaries all their crap..Will never work for them again. BEWARE

Mark
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pastormarkag

Missouri
21 Posts

Posted - 11/07/2011 :  08:21:07 AM  Show Profile  Reply with Quote
Stay away from Mortgage Docs. I worked for them last Friday and I have never in 6 years of doing this worked for a company that was so screwed up and useless....I could go into detail about everything that went wrong but this post would be way to long...Leave them alone if possible..I'm tired of being lied to...Aren't you just sick and tired of working for companies that must think we have nothing better to do than wait around all day for them to get their act together and then they want you to wait around half the next day before they give you permission to drop the docs? And all this for $50-60!!! They can kiss my back side and I'll never work for them again..OMG it was a horrible experience. Hope it never happens to any of you....
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edelske

New York
808 Posts

Posted - 10/13/2011 :  11:55:55 AM  Show Profile  Visit edelske's Homepage  Reply with Quote
quote:
Originally posted by Dannotary

I agree with Ken once again. Also add in the cost of your printer and the cost of maintaining it with your time, paper , toner etc. I have analyzed it and costed it out over and over and I agree with Suegrab in Oregon- I come out with about the same numbers. Love those calls that try to get you down on your fee because its 20 pages less than a normal package. Its not the paper costs, its all the rest of the factors that dont change.



It's only 20 pages? Fine. Pay what I asked and you can have 2 totally processed copies; if that will make you feel better!

Dan,
Totally on target with your post. Following the same logic; you should do a 1 page deed for a lot less than 5$. Sometimes I ask the "lowballer" if they offer to pay their dentist only for the silver put in the cavity - they stammer a bit and say "I see your point".

Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com
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Dannotary

California
265 Posts

Posted - 10/06/2011 :  12:51:30 AM  Show Profile  Visit Dannotary's Homepage  Reply with Quote
I agree with Ken once again. Also add in the cost of your printer and the cost of maintaining it with your time, paper , toner etc. I have analyzed it and costed it out over and over and I agree with Suegrab in Oregon- I come out with about the same numbers. Love those calls that try to get you down on your fee because its 20 pages less than a normal package. Its not the paper costs, its all the rest of the factors that dont change.
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edelske

New York
808 Posts

Posted - 09/27/2011 :  1:29:18 PM  Show Profile  Visit edelske's Homepage  Reply with Quote
quote:
Originally posted by suegrab

What about paying the taxes that come off the top of that fee? No one in this thread has said a thing about taxes...aren't you running your business legitimately? You have to pay taxes on that whopping $50.



I doubt if a 50$ signing agent earns enough to have to file a return!

Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com

Edited by - edelske on 09/27/2011 1:30:03 PM
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edelske

New York
808 Posts

Posted - 06/06/2011 :  4:41:36 PM  Show Profile  Visit edelske's Homepage  Reply with Quote
About 2 years ago Mortgage Docs sent me a "very scientific" analysis of the cost to process edocs. They calculated (if memory serves me right) that the proper "pass along" (note: without any profit) was about $5.37 for a standard 2 set printing. Of course he used the cheapest paper, lowest electric rate in the US, refilled toner, and valued at zero my time. Another entry in the spam filter.

Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com
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flygirl2

Oklahoma
7 Posts

Posted - 05/29/2011 :  05:56:08 AM  Show Profile  Visit flygirl2's Homepage  Reply with Quote
I am new at this and wish there was a set fee to charge but understand there isn't. Have any of you done work with "Mortgage Docs"? They seem to be set on only paying $40 for auto loans. It was my very first job and was 5 miles from my home. I was so excited to get a call and wanted to get my feet wet so I did it. But they seemed set on their price and I'm wondering if anyone was able to get more from them. Thanks
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Melcolbert

California
21 Posts

Posted - 05/28/2011 :  1:45:57 PM  Show Profile  Visit Melcolbert's Homepage  Reply with Quote
As a newbie I just want to say "Thank You!" to everyone who replied to this thread -- you helped me to make the decision NOT to reduce my fees just to "get my foot in the door".
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suegrab

Oregon
2 Posts

Posted - 05/08/2011 :  11:02:22 AM  Show Profile  Reply with Quote
What about paying the taxes that come off the top of that fee? No one in this thread has said a thing about taxes...aren't you running your business legitimately? You have to pay taxes on that whopping $50.

In my small business I earn approximately $35K a year doing signings full time. I have been running this business just under 20 years doing signings exclusively. Around 30-40% of that comes off the top and gets sent to Federal and State for taxes, then the rest is my take...

So, on a $50 signing let's do the math: $50 - 30% for taxes = $35 then you need to minus paper, toner, gas, phone bills, etc...I would assume on a $50 fee my absolute take home would be around $15-20 dollars...

This is why I will not accept any signings for $40-$50. I am an NNA Certified Signing Agent so my minimum for the signing is $65, plus 25 for edocs makes my minimum fee $90. Even at that, after taxes and expenses I am probably clearing almost $50 on the deal...

(The next time someone offers you something ridiculous like $50, quickly in your head minus the taxes off that, then think about the additional expenses that come off the top and then think about the bottom line joke fee you are left with...Notaries who are accepting these $40 and $50 jobs cannot be running them legitimately...they have to be not paying their taxes..otherwise, if they thought about it they would be doing the job almost free...)
I am not getting rich here...too bad I love the job!

Sue Grabowski, Notary Public
Veneta, Oregon

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LindaH

Florida
1737 Posts

Posted - 12/27/2010 :  7:16:55 PM  Show Profile  Reply with Quote
If one accepts $50 signings, then it's obvious one has not taken into account everything that is involved in the signing, from consumables to time to depreciation of equipment - IOW no business plan...

Add to that one's *expertise*, and in the event a TPL is required, then the special licensure required ... $50-$75 just doesn't cut it.

Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell

Edited by - LindaH on 12/27/2010 7:19:24 PM
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Shannon

California
360 Posts

Posted - 12/27/2010 :  5:58:42 PM  Show Profile  Visit Shannon's Homepage  Reply with Quote
Kenneth! you rock!! Great reply!! Awesome...LMAO

"A Quick Note"
www.aquicknote.net
Follow me on Twitter:
https://twitter.com/aquicknote
Like me on Facebook:
http://goo.gl/WWpGP
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edelske

New York
808 Posts

Posted - 12/26/2010 :  2:17:15 PM  Show Profile  Visit edelske's Homepage  Reply with Quote
Signing agents who take 50$ jobs (sometimes GASP! with edoc), should stay well hidden prior to Thanksgiving.

Kenneth A Edelstein
Mobile Notary, Apostille / Legalization Processing & Fingerprinting
http://www.kenneth-a-edelstein.com
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n/a

Indiana
5 Posts

Posted - 09/09/2010 :  12:27:58 PM  Show Profile  Reply with Quote
Things are different now, SO slow.

But when things were busier earlier, I stopped taking the $40 signing from ATR (?) than came in on the phone via computer. Couple of months later I started getting the same closings from another agency, for $75.

Also found that if you turn down the $50 signings, you're available more often when the higher dollar calls come in.

Eever notice that the cheap charlies usually call you long in advance?

Tom in Indiana
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WDMD

9 Posts

Posted - 08/26/2008 :  07:37:32 AM  Show Profile  Visit WDMD's Homepage  Reply with Quote
I did a purchase closing recently in a realtors office. The title company was late getting stuff together so they had to have a courier take the docs and checks to the real estate office (20 miles). They ended up paying the courier more than I got for doing the closing. Just a comparison on how much other professions charge and get. If I had known how much they were willing to pay the courier I would have gone and got them myself.
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claudia

Texas
54 Posts

Posted - 08/26/2008 :  06:12:37 AM  Show Profile  Visit claudia's Homepage  Reply with Quote
Rose, I don't think they care if they have to make 6 calls to find a notary. I am just sorry that there are notary's out there who will accept that price and it seems to me that notaries are a dime a dozen. I also think that to many notaries has cheapened the position of the notary. They don't seem to care if you get the job done right, just what they have to pay you without consideration of where you have to travel, how long you have to spend with the borrower, and length of the document. For any company to say they pay $65 to have a reverse mortgage done in a city 70 miles from your home is ridiculous. I have the right to refuse and I do. I would go bankrupt quickly with how they prefer I run my business. How much does a plumber or a "fix it" man get just to come out to your home. These fees they want to pay us are ridiculous.

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Rose Sher

New Jersey
13 Posts

Posted - 08/25/2008 :  7:46:08 PM  Show Profile  Visit Rose Sher's Homepage  Reply with Quote
I would like to ask if anyone has worked for Service Link or National link in PA? They used to call me at least 4 to 6 times a month. Now maybe I get called 1 time a month. I was informed a few months ago by Trudy in vendor management that our fees were being cut drastically. My base fee with them is $100 + $25 for docs. Now they say our fees were dropped to $45 + docs by corparate. I informed her not to call me with that JOKE of a fee. She said that she is keeping my fee the same in their system. But they are NOT calling. I guess their are new stupid notaries taking these low ball jobs. Don't they know how stupid they are and how they will have to start a second profession to make money if they keep this up. We all have to stand together with our fees. If these lowball companies had to call 5 or 6 notaries before they get one to except the job, they will stop wasting their time on the phone & realize what they are trying to pay us is to LOW, an they will pay ours fees. Don't undermind our profession. Be proud to be a Notary Signing Agent.

Rose Sher
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a1etron

Florida
77 Posts

Posted - 08/25/2008 :  3:30:41 PM  Show Profile  Reply with Quote
If you do closings for $50.00 you are an idiot.

Edward Fadden
Orlando Notary
Covering all of Central Florida, Orange-Lake-Seminole-Osceola and Volusia Counties.
407-619-7777
orlandonotary@embarqmail.com
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Lee-AR

Arkansas
578 Posts

Posted - 08/25/2008 :  07:33:21 AM  Show Profile  Reply with Quote
If everyone would just spend an hour or so actually figuring out what their costs are, the $50 signings would go away as nobody would take them because they're in the red on 'em. Many years ago, I started a spreadsheet of 'costs'. Honed that over the next couple months and today I know--to within a buck or 2 (# of pages of edocs being the unknown (but can come close in guesstimating)--what gas, paper, toner & an average % for cell, internet, etc. are going to cost me for each & every signing BEFORE I quote. It also allows me to very simply put in 'new figures' as gas, paper, toner, etc. go up or down. Simply a matter of popping in 3 or 4 numbers and--voila! The spreadsheet also allows me to pop in 'the most they can pay'...and $50 puts my $/hr. into the red...in other words, it costs ME to do it.

This is a business and every business absolutely must know what their costs are in order to remain profitable. Do yourself a favor and do the math.

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darndt

New York
3 Posts

Posted - 08/25/2008 :  05:19:17 AM  Show Profile  Visit darndt's Homepage  Reply with Quote
I agree if all of us stopped taking the $50 jobs they would have to offer more. Most of those jobs if you fiqure your gas and wear and tear on your vehicle and your time you come up losing money.

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kandy1099

Pennsylvania
121 Posts

Posted - 08/23/2008 :  08:48:18 AM  Show Profile  Visit kandy1099's Homepage  Reply with Quote
I worked for a title company that was nationwide. We paid notaries in MD $250-$300 a piece for closings, and of notaries in PA we offered $75. AZ is another area that is paid good, ranging from $200-$350. NJ is more goverment regulated and gets at least $125 or more. The fees the title company are allowed to charge on the HUD depends on the state. In PA the Notaries fee can not be listed as a separate cost, so it comes out of the profit from the title companies "closing fee". In states like MD and AZ the notary fee is listed separate sometimes even made payable directly to the notary, so in most cases the title company does care as much the cost the notary is charging, because it doesn't affect their profit. It's the notary that has to explain the fee to the borrower if they ask.

I think this is not fair, what is happening here in PA, I do just as much work as someone in say AZ or CA, but you get paid a great deal more. I turn down closings when I see fit. If it's getting near the end of the month and my income is down, I take some low ballers to cover bills.

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crtowles

California
553 Posts

Posted - 08/22/2008 :  9:12:51 PM  Show Profile  Reply with Quote
I often hear that depending on what part of the us you live in makes a difference. I really don't see what that has to do with it. If the SS can get top dollar so can we. If I moved from California to another part of the US I would charge the same fees or I just wouldn't work.

I understand both sides of the argument but I refuse to do closings for 50.00 no matter how badly I need money. It devalues what we do and it is just way to much work, risk and stress. But the bottom line is that everyone will have to run his own business as he/she sees fit.

Carmen

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n/a

Maryland
3 Posts

Posted - 08/15/2008 :  12:55:46 PM  Show Profile  Reply with Quote
I copied this from this web site:
http://www.notarydepot.com/forums/1/topics/421

If You Accept $50 Signings

From another forum, I thought this info clarifies what you’re REALLY making as a business owner when you accept lowball signing fees.

“If you’re a newbie and take $50.00 signings, as I did, PLEASE read further.

I log ALL costs related to my notary business and after 3 years I figured it was time to find out where I was at financially. I also include all auto expenses (mileage) in the cost.

I took all income and all costs and found that 2/3 of my income was expenses. That means that for a $50.00 signing my profit was $16.67. Not good.

Now if you figure the minimum time it takes to do a simple signing, here’s what you get. Pre-sign time: 1/2 hour minimum. Travel to site: 1/2 hour minimum Signing time: 1 hour minimum Travel home: 1/2 hour minimum Invoice/ship: 1/2 hour minimum Minimum Total: 3 hours

You’re making less than $6.00 per hour.

Go to McDonald’s, they pay more and there’s less stress.”


May 27, 2008 8:45pm devinsmommy
3 posts
Thank you for the breakdown. I have accepted $50 a few times, but stopped when one day they couldn’t find someone to do the closing and called me back and offered more, so I said if it was that easy…why didn’t they offer more than $50 in the beginning. What companies do you work for?


May 28, 2008 2:33pm loansigner101
56 posts
I understand where you’re coming from, however, if the signing is overnight docs and the job is within a mile or two from me, I will likely accept the signing and I’m confident that I’m making more than $6 per hour. My signings almost never take more than 35-40 mins tops and to me, $50 for the day is better than $zero for the day. Ofcourse, we all have our own business model and mine has changed a lot over the past year. My area is very small and I’m very choosy as to who I work for. Do I get more for jobs near by? Sure! But not always and if the company is a solid payer and like I said, if the job is practically in my own back yard, I won’t snub my nose at the work. I have never, ever accepted less than $50 for a signing, ever.


Jun 9, 2008 9:53pm maggiemae
35 posts
I agree with Kelly, there are times a $50 signing is better than no signing at all and there are times I’ve made as much by doing a $50 signing as I have by doing a $125 when you figure in travel time and a hot-tempered borrower who is upset with the LO.


Jun 12, 2008 11:35pm lkthornton
19 posts
I disagree with both you and Kelly for this reason to paraphrase what someone else on another board wrote: When signing agents take $50 assigments, this increases the expectation of agencies that we should ALL take them for $50 and it devalues the work we all do.

It doesn’t matter that the docs were overnighted to the borrower who lives next door….it still devalues/cheapens the profession. I don’t believe a signing agent should accept less than $100 for O/N docs under any circumstances – and with gas at nearing $5 per gallon, that fee could be raised to $125, but they have a right to run their business at a loss if they so choose…...JMHO


Jun 14, 2008 12:39am uclanotary
13 posts
I totally agree with you lkthornton! If we all stuck together and expected what we are WORTH, we would not have someone trying to pay us $50 for a signing!

I just had the unfortunate experience of turning down a job last night. Signing Service wanted me to do a job for $100. It was for E-docs and it was a rush job. I told them that unfortunately, I couldn’t accept anything under $125. I have done business with this company before for $100 but with the way gas is now a days, I just CAN’T do it!


Aug 7, 2008 3:53am dinahstallworth
3 posts
I understand both sides of this discussion. I don’t personally accept $50 signings, however, if a notary needs to take a $50 signing, because they need the money or for other reasons, that’s their business. I definitely value my work. I am an experienced notary closing agent, paralegal and abstractor and I quote my fees accordingly. I firmly believe, in a majority of situations, you get what you pay for. I try to make it real easy for my clients. I quote my fee and tell them when they try to get me to lower my price, I understand, if you feel you can’t meet my fee, “it’s business”, however, I tell them ” it’s business for me also.” It’s really quite simple, either they pay me or they pay someone else. The decision is always theirs.


Aug 8, 2008 1:18pm notarypatricia
3 posts
With companies popping up and NOT paying the notaries for their work, the price of gas, and the professionalism we need to portray to the public, I personally will not accept less than $100 for any signing. When asked, I tell the signing company my fee is $125 and if they have a problem with that, I reiterate the business expenses of a professional notary to them. In most cases, they will accept paying me $125 anyway because they’ve spent most of their day looking for a notary anyway. All the newbies out there: Don’t be afraid to ask for more, just because you’re new at this! If you trained correctly and have all your ducks in order, you will do a professional, efficient job which demands a higher pay for you. And that in turn, will help to keep our profession able to command higher fees.

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