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January 18, 2016

VA signings for $85? With 200 pages? No Thanks!

As a blog writer, I need to come up with ideas for interesting blog articles. So, I often go to Linked In and see what was popular there. I was visiting last night and saw that someone was offered a VA loan for $85. But, the package had about 200 pages! As new Notaries, you need to understand that not all packages are alike. Some Lenders have short packages while others have longer ones. Some Lenders have their documents ready on time while others don’t. Additionally, there are different types of loans — some are longer and more time consuming than others.

Large Loan Packages
VA loans are normally a lot longer than regular Refinances. FHA loans are longer and more complicated too. Additionally, Reverse Mortgages are longer and take longer partly because the signers are normally elderly. VA loans are for Veterans, and they might tell you some war stories about getting ambushed by the Taliban, but they are probably middle aged and able to sign in a moderate amount of time. But, the packages are long and take a long time.

What to Charge?
The average Notary on 123notary makes about $105 per signing (interesting stat.) If your standard fee is $100, you need to charge more if it is going to be a slow signing or a signing with an above average number of pages. You will be using your printer more, and spending more time at the signing. So, how much more should you charge? In my experience, more pages won’t take you that much more time. It will cost you a little toner and paper, but an additional fifty pages might only take you an additional twenty minutes assuming the signer is not a slow poke. What does take time includes: sluggish signers who read every word, elderly people who can barely function, issues with the loan involving long calls to the Lender, multiple signers who don’t always show up on time, problems with the ID.

Before You Accept the Job
My suggestion is to call the borrower and ask if they will be able to sign within a sixty or seventy-five minute window for a longer package. If they say no, then you might consider charging more or cancelling the signing. If you have the luxury to call the borrowers before you accept a job, you can have a lot more flexibility. You should ideally charge for time, and NOT based on the length of the package. I signed a 200 page construction loan in 25 minutes because the borrower was a professional and had been through the process dozens of times. His time was worth a lot and he didn’t waste a minute. He was like an assembly line.

As a General Rule
For most Notaries on 123notary, I would recommend charging $115 or $120 for VA signings and Reverse Mortgages. If you are very experienced with more than 5000 loans signed, then add another $25-$50 to that figure. Notaries should not try to charge too much unless they are so popular that they simply have to turn down good offers daily. Try to be reasonable and accommodating while you earn some notches in your belt! But, $85 is just too low unless you are a complete beginner!


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July 4, 2014

Where does 123notary get ideas for blog articles?

Filed under: Social Media — Tags: , , , — admin @ 12:25 am

When I started writing for my blog, I thought I would run out of ideas. I wrote about all of the technical notary issues I could think of. I wrote about journals, loan signing procedures, marketing and more. Then, I ran out of ideas. Then, we started talking to notaries and asking them about their craziest stories. There were many stories and many of them were excellent. The more gruesome the better!

Since, I have to write about 25 articles per month myself and have some help from Ken, Carmen and a few others for extra blog entries, I have to have tried and true techniques for finding blog ideas. Not all blog topics will be popular, but sometimes it is surprising to learn about what people like, or respond to the most. Our notaries are practical types for the most part. They like the stories, but respond more to everyday types of situations that affect their lives.

My new techniques for creating blog topics are reading Facebook, seeing what was popular on Twitter, our Forum, Notary Rotary’s forum, seeing comments to our blog entries, and even reading emails from clients. Additionally, we get stories from our notaries from time to time. I also come up with ideas from talking to people on the phone. From talking to people, I learn what some people are competent about and what areas they need improvement in. Reading through people’s notes sections also opens a can of worms. I wrote sixteen pages about notes sections in our Ninja course, and could probably write twenty blog articles on the topic as well.

If you have an interesting blog article idea, run it by us. We need 365 ideas per year.

(1) 123notary gets ideas for blog articles from Facebook, the forum, Stories from our clients, emails and daily life!

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