Posted by JDGATO on 1/4/11 1:20pm
Msg #366948

Payment if HUD is funded

Title Resource Group offered refi job and payment was contingent on HUD getting funded. Anyone dealt with them currently? Payment still rendered if HUD isn't funded?

Reply by Linda_H/FL on 1/4/11 1:23pm
Msg #366950

No..that's what they're telling you - if the loan does not fund you don't get paid.

Reply by JDGATO on 1/4/11 1:24pm
Msg #366951

Yeah thats what I figured...I declined.

Reply by Glenn Strickler on 1/4/11 1:30pm
Msg #366952

You do the work, you should get paid and insist on that in writing if you accept the work.

Some offer full pay, 1/2 pay, travel fee, printing fee, or no pay. It depends on what you negotiate. It's your business, you decide the conditions on which you will provide services. Just remember, if you don't get it in writing, it didn't happen and you have no leg to stand on to get paid. Over the years, I have occasionally accepted work under the no fund/no pay understanding, but only for good customers who sent me a lot of work and pay well. I found the occasional hic-up in those circumstances was livable. In general, though I don't.

All that being said, these days with all the conditions and restrictions on loans, by the time it gets to us, it will probably fund. The issue seems to be getting payment from the people that do the hiring and paying, not if the loan will fund.

Reply by JDGATO on 1/4/11 1:37pm
Msg #366953

Agreed. My decision to decline was based on the fact that I'd never done business with TRG before, BO was 45 minutes one way, they were sending edocs but didn't want to pay anything above the $100 refi and couldn't verify the number of pages so I had no idea how many copies would be needed...plus...they called at 2pm and the appt. was for 5pm...but didn't have the docs yet. They were firm on not offering any additional money so I was firm on declining!

Reply by Glenn Strickler on 1/4/11 1:46pm
Msg #366954

Yeah, sounds like a good call on your part. n/m

Reply by Les_CO on 1/4/11 2:19pm
Msg #366958

There really are many good outfits out there to work for...Why work for flakes?

Reply by James Dawson on 1/4/11 2:33pm
Msg #366960

I'm chiming in because I have done 100+ for them this last year. Only two have I not been paid for (I did get a particle fee) but considering the volume I don't trip. Pay varies widely because of which scheduler you get and where you go and who is the lender, how many borrowers, etc. Also whether Docs are overnighted or eDocs.

If you understand there process it becomes very easy to either accept or decline an assignment. I do not accept everything they throw at me but I do go out of my way to accommodate (them), 100+ assignments is a good client. IMO

With that being said, I will state that I have been paid $80.00 - $200.00. They will pay me for my parking and toll but all of that must be negotiated before hand. If you find out the particulars beforehand, you won't be disappointed. Example and loan package with 74 pages is a relatively small package by todays standards. If you read their instructions before printing, you'll discover you don't have to print out an entire second set for the borrower. Hope this info helps

Reply by JDGATO on 1/4/11 3:17pm
Msg #366964

Good info if I get another call. I'll print for future reference. TY

Reply by jba/fl on 1/4/11 4:35pm
Msg #366977

I just got paid (not $100 either) my full fee for one that did not sign. I did print and make the trip and spent about 1 hour there. It is all on your terms as it is your business.

I also got shorted on a payment for one in mid Dec. Notified them same day, got check for difference yesterday.

I like them, have been in their stable for past few years, happily getting loans signed. Avg. pkg: 85 pages or so

Reply by S Peterson on 1/4/11 6:55pm
Msg #367004

TRG...I've always been paid...5 to 12 days max. n/m