Posted by cdoty_IL on 3/11/09 4:18pm
Msg #280345

RM application for $60.....no thanks.......

I just received a call from a company wanting me to schedule an application appt tomorrow. I told her I was available...and she said it pays $60.00. I told her I can not do it for that and quoted my fee. She said it is only 60 pages and takes about 30 minutes. I admit I do not charge as much as I do with loan docs w/edocs....but I have found out that these reverse mort. apps are every bit as time consuming. I explained the time involved and she told me that they could adjust my fee when the loan signing is scheduled. I told her I have actually done one for them before, I was there 1 1/2 hours and the loan never came about (I was promised the loan signing appt then also). So I am not so sure I would ever get that opportunity to add the fee later.

Reply by Lee/AR on 3/11/09 4:44pm
Msg #280352

Sorta like the "But we can give you volume" story, huh? I always wonder why they think they can place no value on our time. But, it's 'only'.....

Reply by cdoty_IL on 3/11/09 4:52pm
Msg #280353

Did I mention.......

It was with edocs, about 30 miles one way (rural area)? I figure that is at least two hours of work right there. If it truly took 30 minutes and was next door...I might have considered it. But, like I said...I have experienced theses before and they do not turn out as quick appts, from my experience anyway.

Reply by Todd/OH on 3/11/09 7:09pm
Msg #280368

You can't do a RM for under $100 - they take so much time. Adjust accordingly.