Posted by Leslie_Mo on 2/4/07 2:20pm
Msg #174008

How many time do to let a ss, tc or lender cancel a signing

with you at the last minute before you no longer will accept work from them? I do realize that sometimes a cancellation can't be avoided and have taken that into consideration. One company has cancelled last minute with me several times in the last 6 months. Last month they did it again on the last day of rescission and I had turned down 5-6 signings for that time due to my prior committment with this company. Any comments or suggestions would be welcome.

Reply by PJM/MI on 2/4/07 3:36pm
Msg #174011

Re: How many time do to let a ss, tc or lender cancel a sign

I work with one particular company that cancels, re-schedules, cancel, re-reschedules. I call or email them the morning of the closing to make sure it's going to close, or get cancelled.
Just seems like this is the "nature of the beast".

Reply by Scott_IN on 2/4/07 7:05pm
Msg #174016

I've had it happen like 4 times in 2 weeks with one company, I will no longer accept assignments from them. It's lost wages, because I turn down others.

Reply by kikeroo on 2/4/07 7:27pm
Msg #174018

It's Charlie Brown and Lucy all over again...

How many times have we watched Charlie Brown try to kick that football only to watch Lucy pull it away at the last minute...time and time again? (Ok, sorry, but I just HAD to bring football into it somehow...go bears!). I'd say you have to weigh what is more economically in your favor in the long run. To me, multiple cancellations, with multiple lost signings are not worth it. It sounds like they've cost you $$$'s to say the least, not to mention what the other companies might have given you based on your performance on those lost signings (had you taken them). Kiss that company goodbye. They are not worth your time anymore.

Reply by JanetK_CA on 2/4/07 10:39pm
Msg #174034

That's a determination each person has to make on their own, depending on what their schedule looks like, how much other business do they get from that co, what is the time of the appt, what do they think is the possibility that they will get other business and what does that co pay in comparison to other clients who might call.

Makes me think of the Pareto Principle - the 80/20 rule. 80% of your business is likely to come from the top 20% of your clients and conversely, 80 percent of your headaches are like to come from the bottom 20%. (It applies in many ways to nearly everything...) There comes a time when it makes sense to "fire" a client because it's just not worth it.

Reply by David Kral on 2/4/07 11:07pm
Msg #174039

I just double book with my client like that. Occassionally, it ends up two overlapping, I just call the borrowers and move the appointments around. Printer problem, lost my car keys, whatever, it only happens about twice a year and I have never had a borrower have a big problem with it. If I do, it is the company that constantly rebooks that will take the hit. If I lose them as a client then I lose them. Not a problem so far.

You could require a cancelation fee within 24 hours, but hard to collect.

Reply by MistarellaFL on 2/5/07 8:05am
Msg #174060

Potenially another way to handle it

In order to keep them as a client and keep your revenue.
You may consider speaking with them and explaining your dilemma.
Ask if they can call you for the closing once the documents are ready,
instead of when they receive the assignment.
Assure them you will work with them to get it handled.