If you’re looking at a Settlement Statement or Closing Disclosure and you see a line item for notary services, you may wonder why the lender charges so much — especially if you know that notary signing agents or mobile notaries don’t make anywhere close to the fees shown.
Lenders don’t charge for notary or NSA services. Title companies do. That’s what you see on the settlement statement or closing disclosure — what the lender is being charged by title.
A portion of that is kept by title for related work they’re doing; some is what the signing service charges them (there’s a list of services and benefits that SSes provide to title companies).
We get as little as the SS can convince us to accept.
This is how business is done. Everyone lives in the margin between expenses and income.
You will drive yourself nuts if you focus on what someone else gets. All you can control is what you accept.
You *may* be able to influence a small number of people, but you’re never going to stop people from taking what you see as lowball fees, at least not enough of them to increase what’s being offered.
Most of the fee discussion online is based on a lack of understanding of #businessbasics such as marketing and contracts, not to mention things like price fixing (attempted or actual).
Fintech (financial technology) is very likely going to wipe out independent contractor NSAs over the next 5 to 10 years anyway. Watch platforms and RON and blockchain tech and their impacts.
In the meanwhile, I strongly suggest you focus on what you can control, which does NOT include the fees that your competitors accept or what other parties in the pipeline are making.