No Signing Companies Allowed: Why Not?
September 25th, 2007Written by: Scott
Signing Services. Signing Companies. Sign-Up Services.
Whatever you call them, their place in the industry has always been a hot button issue for notaries. Some notaries love ‘em, some hate ‘em, some could care less.
We’ve decided NOT to allow any signing services to register as customers and use NotaryBay.com.
Here was our reasoning:
1. We want to provide a “100% awesome” experience for notaries on NotaryBay
The truth is that very few, if any signing companies are “100% Awesome” for the notary. When a signing company is used, their cut of the fee directly takes money out of the notaries pocket…not awesome.
2. SS provide little to no value to the borrower
It is our position that the borrower (who 99% of the time is paying for the mobile service) receives little to no added value to their transaction when a signing service coordinates the signing vs. when a quality mobile notary is contracted directly.
3. Signing Companies are so 2001
With the current saturation of experienced mobile notaries in the US, the need for a middle-man company becomes even more diminished. Let information be free man! (note: NotaryBay is 100% free for title and escrow users)
4. Too many bad-apples
In keeping with reason #1, the last thing we want is notaries on NotaryBay to be stiffed or shafted by a Signing Service. Sadly, this is an experience that almost all notaries have had to deal with (myself included!). While this still occasionally happens even when working directly with a settlement provider, it is rare.
5. We want to change this industry
There are many very large lenders and settlement companies that still currently use Signing Services. They really should be using NotaryBay! We hope over the next few months, many of these companies will “see the light”. By using the NotaryBay.com application companies can reduce their costs (both time and labor) and still get amazing notaries.
You Can Help
Know an escrow officer or settlement company who is currently using a Signing Service, or hiring notaries themselves? Refer them to NotaryBay.com (use the customer link in your account dashboard when logged in). You’ll get rewarded in points, as well as some feel good vibes that you’re helping other notaries around the country work direct as well.
Massive Signing Company List
Just because we don’t work with signing companies, doesn’t mean you don’t have too! We’ve compiled a massive list of signing companies that you can work with. We’ll be keeping this list updated and current so if you have a company to add to the list or an update on a company please let us know!
September 26th, 2007 at 5:58 pm
I love this idea. I was contemplating the thought of not accepting any jobs from unknown/smaller signing companies. I have found that the small MA &/or PA company’s seem to have a very difficult time paying in a timely manner, if at all. I wouldn’t want to exclude all signing companies, but one day, (with the help of NotaryBay) maybe I can afford to turn down signing company jobs all together. This is not where I’m at right now, but I think excluding them from your list really puts you ahead of the crowd and a resource that is highly sought after. Good job! Keep up the innovative ideas Scott!
September 26th, 2007 at 6:20 pm
Sara,
Thanks for the kind words! Wow.
Yes, we don’t think notaries should stop working for signing services. We just don’t want to give signing services any selling points (like notarybay).
Thanks for the comment!
September 26th, 2007 at 8:37 pm
WOW!
What a great concept… finally a way to work with Professionals that care about the Notaries… smooth process from beginning to end!
I also was thinking of turning down signing companies that don’t pay when due.
Thanks Scott for thinking of us Notaries out here in the field, working diligently and trying to make a living.
September 27th, 2007 at 6:53 am
I am excited about Notary Bay, this is an excellent idea. I support you all the way. May I have the opportunity to say thanks to you for the opportunity to work with a person with such a spendid vision for the future at such a needed time.
September 27th, 2007 at 7:24 am
Scott, THANK YOU for all of your hard work and dedication to your sites and your fellow notaries. Do you have an accessible profile on the life of Scott?
September 27th, 2007 at 8:54 am
Scott,
THANKYOU. YOU ARE CUTTING EDGE new age this is what we notaries needed, It takes one person to make a difference and your that person, I heartfully appreciate what your doing. I am new in the Notary business and at my age of 40 to come in and see all these SS trying to take OUR hard earned money makes me well …upset. Again thanks and I’m so glad I joined. - Adriana In Madera CA
September 27th, 2007 at 12:28 pm
Thanks everyone, and for Mareen….you can see my profile here…
http://blog.notarybay.com/author/scott/
Our big focus during beta is building up the notary database so that in late October when we start registering customers, the site is functional. So tell your friends! (that are notaries of course! : )
September 27th, 2007 at 1:41 pm
WOW! Loving the concept Scott!! Any time I’ve worked with Signing companies I’m always nervious especially after two different companies didn’t pay me and one company sent me a check that bounced!!!!! How frustrating! I bet they got thier money! Anyway….this just thrills me! Way to go and I hope this is the start of beautiful career!
September 28th, 2007 at 5:08 am
I am glad for your service which is needed. We really don’t need the middle man ( Signing Services) . I have had bad experiences with signing companies who don’t pay until maybe two or three months after I have completed the signing. They get paid from the borrower once the loan is funded. Their fee is on the HUD1. I am sick of signing companies who want to pay little or nothing for E-docs. Some want 2/3 of the fee not 1/2 of the fee. Good luck with this endeavor. It has been a slow year with so many sub prime lenders going out of business. I look forward to working with NotaryBay. Have a good weekend.
September 28th, 2007 at 6:13 am
I think this is a vey good concept Scott. I must tell you that i wish I would have thought of this too. I just have one question, how are you going to support your web site ? I would say that you are going to have to have a paid membership. If this is the case you are going to be another paid Database of notaries and nothing else. Mind you I am not bashing that, but it sounds like another paid membership site to me.
I will also tell you that I am a SS that pays there notaries on time. I strive in being one of the few SS that takes very good care of the notaries. If you ask anyone here that has worked for me you will hear nothing but god things about my Co.
Final thought, there will always be a place for good SS’s in this industry because some Title Co or Lender will not take the time to look for a notary on there own. there are some Title Co’s that have there own internal database of notaries and will always use that database. And also keep in mind that there are so many notary databases that everyone is chosing from basically the same database.
Best Wishes in your venture.
Anthony J Negrete
www.negretesnotaries.com
September 28th, 2007 at 6:41 pm
Hi Scott
Just want to say I applaude you for your decision in cuttig out the ss. I have had more problems trying to get paid from these services. I think working directly with title, escrow or lenders there will be abetter quality of service given and 90% of the time you will get paid.
Good luck
plettino@cox.net
On Call Notary Service
October 2nd, 2007 at 4:04 pm
[…] Note: While we are not huge fans of signing services ourselves, that doesn’t mean you can’t work for them if you’d like! If you know a signing […]
October 2nd, 2007 at 5:12 pm
Scott, I am looking forward to working with you. I think this will be a great spot for Title Companies to look for qualified notaries. I too have worked for many signing services that have not paid me on time.
Good Luck with your program.
Carol Flemke
H & C Notaries On The Go, Inc
October 3rd, 2007 at 11:56 pm
Way to go Scott,
This is wonderful for the Professional Notary. I work 8-10 hours a day. I REFUSE TO WORK FOR SIGNING COMPANIES. Many lack knowledge of the industry and all they care about is the bottom line. The COMMUNICATION with ESCROW OFFICERS directly is so much EASIER and so much LESS STRESSFUL !!! I’ve been in this industry for 24 years and I truly care about the PEOPLE I work with. Not just the money it brings in. This is my life and I love every minute of it. THANKS SO MUCH FOR ALL YOUR HARD WORK. What goes around…comes around.
Valerie and David
VAL’S MOBILE NOTARY OF OREGON AND WASHINGTON
October 4th, 2007 at 7:35 am
I have read the comments on this subject of “No Signing Services” and would just like to bring up a few thoughts on the subject… Let’s not forget that if it weren’t for some of these great/good SS most of us wouldn’t be where we are today. It’s been my experience that “the larger the spiderweb, the more flies you catch”… Right? Yes, some of these companies DO have “issues” as far as payment is concerned, and those companies shouldn’t be dealt with lightly, but what about the companies that have a fast payment schedule? What about the ones who carry 500K - 1 Million in E&O? Can we as notaries afford to pay that much in E&O? These companies do have our backs. Yes, so they take a cut of money that we could be getting directly, but… How many closings would we NOT be getting if we turned down Signing Companies altogether? I personally can’t afford to turn down any money with the way that the market has been lately. We all know that things have slowed down tremendously, and let’s all keep our fingers crossed that that will all change VERY SOON! Like I said earlier… “The larger the spiderweb, the stronger your chances are of catching more flies”.
October 4th, 2007 at 9:03 am
Hi Scott,
I think this sight is great and I just wanted to say that you are doing us all a great favor.
As far as SS’s the good one’s will survive, but the low paying and/or slow no paying one’s will disappear over time and that’s what we all want anyway.
I myself have been stung by 2 companies and I will not work for the low paying companies that continue to drop their fees as times are bad. Once notaries work for their low fees when times are better they will not raise them back up.
Our time and expertise is to valuable for low paying and no paying companies. We all need to stick together for our fees. No one is saying stop working for SS, you just need to work for the good ones and their are alot of them out there. I work for some and they are on the list that is compiled here on this sight.
Scott, you are doing a great job with both sights that you have established. Keep up the great work.
October 4th, 2007 at 9:50 am
DJenkins - Good points on Signing Services. We all started there (well, at least I did!).
Patty - Right, no one needs to stop working for signing companies, it’s your personal choice. Just like you have the choice to turn down any job calls. That’s the beauty of being an independent contractor.
We really struggled internally here (all 3 of us!) about the issue of letting signing companies have customer accounts (that can access the automated features of the application). On the one hand, it could bring more jobs to registered notaries on NotaryBay, which is a good thing. On the other though….we’ll I outlined those in the post.
The industry right now (mortgage and mobile notary) is in I think a big transition state. With lower transaction volumes, everything is moving toward efficiency and cost cutting. It’s a very interesting time.
October 4th, 2007 at 4:09 pm
In a perfect universe, there would be a way to screen the good companies, like Negretes Notaries, and the other few good ones in order to allow them to access NotaryBay. That would be great!
Having been burned by four signing services, in just the last four months, of a large chunk of my hard-earned income - I am really for this NotaryBay feature.
I think the good companies will still find good notaries anyway, and I will also be thrilled to get jobs from these few “good companies” too.
October 4th, 2007 at 4:25 pm
P.S. Once a fee is set for this NotaryBay search-site - speaking for myself, I’m sure it will represent only a small fraction of the total losses I incured by working for free these “bad” (for a better word) signing services.
October 5th, 2007 at 8:34 pm
Hi i am a hard working person. I have a small tee shirt business. So i thought this would be a great second income.Sure if you get paid.I have only been a notary signing agent for six months. And have already been taken for 225.00. That take all the fun and profit out of it.I am certain i will give this website a try.
October 6th, 2007 at 1:56 am
I think this is a great idea. I’ve gotten stiffed on payment from a Company, which I should of turned down. Did it back in July and still haven’t gotten paid. Called, sent emails, faxes, letters and still no reply. Reported them to to BBB. Only thing I lost out on is my gas traveling to the place, didn’t have to print docs w/a copy thank god, but never got paid for my time or travel.
October 9th, 2007 at 1:59 pm
Thanks Scott for getting me in this Beta Version for Signing Agents. I’m looking forward to getting a good response from Escrow Companies in or near California. I too have been shafted by small companies a few times too many and want to build a connection with more professionally based companies. We should all benefit this way.
October 12th, 2007 at 11:32 am
WAY TO GO SCOTT!!!….When I started my business and doing document signings I could never understand why signing companies in the first place. They don’t do any of the “leg work” and end up getting a bigger cut of the fees paid by the borrower for closing than the notary does. I am looking forward to notarybay.com and watching it grow into one of the best sites for a Notary Signing Agent….Keep up the good work Scott!!!!!
October 26th, 2008 at 1:48 pm
Sounds crazy. Do you want to improve my rigid trial A joke for you! How do you clean ice off tall buildings? With sky scrapers.