Wednesday, April 11, 2012

Does Notary Direct Value Your Servcies?

Some of you may have received the following email today from Notary Direct:

I want to thank you for your continued support in assuring the success of Notary Direct. We value your services...blah blah blah. Unfortunately, with the economic turmoil faced by all (wait, I thought the economy was recovering?), we have been forced to cut our costs (again?) to our clients in order to remain competitive (cheap).  Although the majority of us felt the crunch back in 2007-08 ( they likely cut fees back then too), we continued to pay our notaries premium amounts to conduct each of our closings (actually, already on the low scale in the industry). Unfortunately, we are no longer able to do so (our model of hiring cheap notaries isn't working) and have been forced (choose) to implement a pay cap (so we can hire even cheaper notaries) for services rendered for all local closings within your area. 

Effective April 15th, 2012- Fee Table:

Single Set of Loan Documents (Over Night): $50.00
Single Set of Loan Documents (Email): $70.00
Now I have to ask, why would any signing agent work for these kind of fees?  Do you understand the value of your time?  Do you understand the overhead for things like your computer, printers, copy machine, fax, phone line, cell phone, car payment, car maintenance, gas, paper, toner, pens, advertisement and marketing, certifications, listing fees, utilities, etc., etc., etc.?  

Let me remind you of something.  You are not a commodity.  The lowest fee does not win.  You are a service.  And if you're good at what you do, you are a valuable service.  Only you can decide what your fee should be.  But please...remember your worth.     

Friday, April 6, 2012

Electronic Loan Documents To Borrowers

I've seen more than one notary signing agent boast that instead of printing copies of the loan documents for the borrowers, they provide the borrowers with an electronic copy (disk or zip drive) instead.  They do this WITHOUT permission from the lender or title company.  Well, at least one title company is saying "no way."

 When receiving closing documents electronically from ServiceLink, you must print and provide a paper copy to the borrower at settlement, no exceptions.  Providing electronic copies of documents is not permitted under any circumstances.