Posted by Lee/AR on 3/4/09 11:46am
Msg #279448
OK... what IS the 25 page edoc pkg. that
Nations Direct wants done for $40? It was sooo close to home--expenses less than $2--that, except for the principle of $40!, almost seemed worth doing. Except.... what is it that I don't know about these? We talking Loan Mods, here or what? Anybody?
| Reply by PMI/NM on 3/4/09 12:03pm
Msg #279450
it is what they call a RESPA. It is a initial disclosure packet.
| Reply by Lee/AR on 3/4/09 12:11pm
Msg #279452
Interesting... I asked if it was a RESPA, & he didn't know..
Thanks for your reply. There's the catch I anticipated--you just can't predict time spent at the table for a RESPA, but it's usually longer than it ought to be for 'only' 25 pages.
| Reply by Teresa/FL on 3/4/09 12:27pm
Msg #279455
I received a similar call today
The offer was a Loan Mod signing for $50. One notarization, within 10 miles of me.
Well, they sent the docs and it was an application for a Loan Mod. Past experience has taught me that these take more time than they're worth, especially for the $50 offered.
I turned it back to them, unless they wanted to up the fee. Of course, they declined. Oh well...
| Reply by M. Alexia Shaw on 3/4/09 12:45pm
Msg #279460
Re: I received a similar call today
I have done a couple of these. It was the one where they requested pictures of the property as well as the notary and other docs signed that I drew the line. I completed the one, but told them that was it. The time to download the photos and send them in, and fax back pages, then go back out to drop (due to the time of day), just made it not worth an even higher fee. They promised I would get the assignment for the actual signing, and I did, but I still think the fee is too low for the application.
| Reply by MW/VA on 3/4/09 2:23pm
Msg #279491
Beware the low-ball offers that tell you it's only 25 pages or so. Some companies use this as a trick, and the documents packages end up being much larger.
| Reply by Les_CO on 3/4/09 3:23pm
Msg #279506
Just so you know Nations Direct is absolutely Poisonous to ALL of us working as NSA’s. They try and undercut everyone in this business, from Title Companies to SS’s. They are the worst of the low-baller’s! To work for them at any price, at any time, is not only cutting your own throat, but everyone else’s in this business. We could collectively put them and others of their ilk out of business by just saying no. NO! NO! NO!!!!!!!!!!
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