Posted by marko727 on 12/12/09 10:14am
Msg #314107

FAXXXXXXXX Backs!

The schedulers never mention, it seems, that a closing will require you to fax back every other page of the package; Old Republic, B of A, Nations Direct, Equity Settlement, to name a few. I then either have to suck it up and spend the hour to do it, or bug them for a surcharge, at the risk of future business or to be told "sorry, we don't pay for fax backs."
I can't wait until the market turns around so I can get back my bargaining power. Right. I'm done.

Reply by Linda_H/FL on 12/12/09 10:26am
Msg #314109

Your profile..." I have closed over 5000 loans and work for two dozen title and mortgage companies."

And you've never encountered faxbacks? Lucky you!!

Reply by Cari on 12/12/09 5:13pm
Msg #314161

I'm sure he has...but it does seem to be an increase

of fax backs, and also becoming more of a 'mandatory' which is sometims not included with the nsa fee.

Reply by Todd/OH on 12/13/09 9:07am
Msg #314173

I kind of agree with Linda. All those closings and no fax backs - - unique.

Q? - why would a licensed real estate attorney limit his practice to closings? There's MUCH more to be made in litigation.

Reply by Cari on 12/14/09 8:41am
Msg #314232

the employment market for attorneys or anyone in the legal

field really, has been radically slow since the end of last year and almost dead w/in these last few months.

I've seen attorneys competing with paralegals for even the simpliest of jobs, like clerking or preparing prose documents. Some attorneys that I know, those that aren't working for large or even medium sized firms are especially frustrated and broke.

So for me, its not too surprising to see attorneys competing with NSA's for closings...this economy has really hurt all of us.

Reply by TRG_wy on 12/12/09 10:26am
Msg #314110

Still, it is an added expense to us and it should be compensated as an added service beyond the "witness/notarization" fee. In 99% of cases it is not required to process the loan; they'll have the entire package the following day (unless delayed to their fax-back requirement).

I only have a land line (Ma Bell) to have a fax machine plugged in. That cost me money every month. Even if I were to subscribe to a service I would have to scan and the email the fax backs - still a fee on my end.

It is only fair to request and require an addition fee for fax backs due to the time and service required to provide that requirement. FedEx Kinkos charges $1/ page and that sound fair to me.

Reply by Les_CO on 12/13/09 11:11am
Msg #314184

Any SS worth their salt will have a toll free number for you to call them with questions, and If they require fax-backs (that I hate) a toll free fax number is a must.

Reply by Luckydog on 12/12/09 10:42am
Msg #314113

BRAVO! I agree with you. Nothing worse than doing a closing and expecting 30+ page fax backs and NOT being able to leave the closing until they get them and approve. 1st of all, it takes time in finding them all, 2nd of all, I do not set 2 hour closings to accomodate their fax backs and 3rd, we are not told up front. These closings are a pain, and we should charge 50% more to meet their needs. I refuse to do them if they are running late to begin with (90% of the time in Florida), or not told upfront, and have back to back closings schelduled. I will not be late for my next closing because of their lack of communication up front.

Reply by PAW on 12/12/09 11:58am
Msg #314121

Huh?

>>> Nothing worse than doing a closing and expecting 30+ page fax backs and NOT being able to leave the closing until they get them and approve. <<<

The only time you should have to wait at the closing for approval is for a purchase where funding docs need to be lender approved. How in the world can you do a fax back from a borrower's home? Most borrowers that I see don't have computers, much less a fax machine. There are some companies who want docs faxed back before dropping them, but not making you wait at the borrowers.

I also submit that there should be no fax back surprises. If you ask the right questions on the first call, then you might know that fax backs will be required and charge accordingly. Even if the signing service doesn't know, you need to set YOUR expectations and fees. After that fact is not the time to try to renegotiate your fee.

Reply by Glenn Strickler on 12/12/09 1:43pm
Msg #314136

Re: Huh?-- Aggree

I only had one fax back surprise and that was my second signing. After that, I ask the question up front on the fax back expectation and therefore, no more surprises .

I have never heard of not leaving the BO's until fax back approval. That is something I would not live with.

Reply by Gary Boehm on 12/12/09 4:53pm
Msg #314158

Huh?-- Aggree

Got a call at 4:00 yesterday to do a signing at 6:30 - with 30 pages of faxbacks. Is this a purchase? No, they just want them. They offered $15 for the faxbacks. I bumped it to $25 and got it!. Then he said the magic words - OR you can scan and email them.

I'd rather do that. Still is a pain, because I have found I can only scan/send 5 pages at a time reliably to avoid running into a file size limit somewhere along the line. But at least I don't get the dreaded Comm Err after trying to FAX a bunch of pages and have to start over, not to mention the phone bill.

I have an HP 3015 which is my FAX, Scanner, Copier, backup printer. I can even send borrowers docs to it at the same time my "Big Printer" (HP 4300) is printing the main package.

My point is - ask if you can scan and email instead of Faxing. Saves just a little time, but avoids the frustration and expense of Faxing.

Reply by Marian_in_CA on 12/13/09 11:45am
Msg #314185

Faxbacks from the place of signing...

I had this happened to me once, but it was something disclosed ot me up front, and they paid for me for it. Actually, the whole reason they called me was because they knew I had the ability to do this.

I have a mobile scanner that I hook up to my laptop. The scanner is fairly small. I can only scan one document at a time, but at least I can do it right there, and then I send the scanned documents by email or email to fax. It's really pretty easy to do -- but it does require having the equipment and the internet equipment, which I do.

One should never be surprised by fax backs... always ask!

Reply by MikeC/NY on 12/13/09 5:12pm
Msg #314200

Re: Faxbacks from the place of signing...

I have a DocketPort scanner, which sounds similar to what you're describing. It's handy, but the one page at a time can be a PITA, although it will create multi-page PDFs... I like it because I can toss it in my briefcase, then plug it into a USB port on my laptop and I'm good to go.

Reply by ReneeK_MI on 12/13/09 5:24am
Msg #314170

Rare for me ...

on the rare occasion that I do a mobile closing in a person's house (or any location that wouldn't have a fax machine), AND am asked for fax-backs, my policy is to offer a CHOICE: fax-backs, OR same-day shipping.

I don't mind if it's a necessary thing - a purchase or N/O/O refi is a different story - but when it's just baby-sitting OR the desire for me to do their file-scanning, then their 'policy' subordinates to my own. I honestly can not recall anyone choosing "scan back, ship tomorrow" either.

As for waiting for the market to 'turn around' - I personally am not betting on gaining back any lost ground, which is why I hold onto the ground I've got pretty tenaciously.

Reply by MonicaFL on 12/13/09 6:48am
Msg #314172

Well, I not only inquire about faxbacks but POAs and QC Deeds. I just had recent experience with a QCD for a reverse mortage. Told the SS that two witnesses were required (I could be one of them) and boy did I ever get an ear full from the broker - he said, well the lender doesn't require that then I told him about the FL Statutes and that I could not notarize the document without having another person there as a witness. The borrower finally said they had a neighbor that could act as a witness!! And the reason I ask about POAs is it takes so much longer to accomplish the signing if one of these is used - so I set my fee accordingly for that procedure.

Reply by MW/VA on 12/13/09 9:20am
Msg #314177

IF these companies were hiring experienced notaries instead of scraping the bottom of the barrel for cheap notaries, they wouldn't need the faxbacks. Unless it is for funding (a purchase) it is only to check the see if the docs were completed correctly. I don't work for companies that play that game.

Reply by Les_CO on 12/13/09 11:57am
Msg #314189

Wellllll….maybe? Remember we all can make mistakes, and most of us will…. sometime.
I have a friend that has a SS. She requires (limited) fax-backs. She just had a VERY experienced Notary that missed the one of borrower’s signature on the Note. The wife signed, they both initialed but guess what? The Mr. forgot to sign. The faxback showed a big empty signature line over his typed name! (resulting in a very shocked Notary). Now the Note wasn’t notarized, but when the Notary did her QC at the table she somehow missed it. She went back yesterday and got it signed. Remember… Shi* Happens! Especially if you’re in a little rush. An experienced Notary missing something happens to my friend at least on a weekly basis, this is why she now requires some Fax-backs, (TIL / RTC / signature page of the note, and DOT and the 2nd page of the FHA app) because these can be a problem, and because some lenders will fund on faxes if the package somehow gets lost or misplaced in shipping.
These morons that require the whole package faxed back, and only have a local (non-toll free) number are unprofessional, and being ridicules. JMO!

Reply by Marian_in_CA on 12/13/09 11:48am
Msg #314186

Don't you ask?

I have a checklist/notebook that I use whenever I get a call for a signing. I ask a lot of questions, and faxbacks are one of them. I make it clear the the fee is predicated upon the answers these questions, and any change in requirements may require a change in the fee. It's just standard practice -- and I've never been surprised by faxbacks.

I don't mind doing them if they want them -- them just have to pay me for it.

Reply by Linda_H/FL on 12/13/09 2:02pm
Msg #314197

IMO with a "base fee" of $175, faxbacks shouldn't be an issue from a cost perspective...it's covered, and at that fee most companies that contract signing agents are going to feel the same way. Maybe attorneys can charge more but any non-attorney SA would LOVE to get $175 as a "base" fee in today's economy - at least around here and IME.