Posted by TacomaBoy on 7/5/12 11:17am
Msg #425605

Huh?

Does the below company sound like a 5 Star company, as rated in SC?

Our standard fee for a 1st Mortgage Refinance Closing is $65. Do you agree to this fee? Yes [ ] No [ ] If No, please specify:
Our standard fee for a Home Equity Closing is $45. Do you agree to this fee? Yes [ ] No [ ] If No, please specify:
Our standard fee for a Modification Closing is $40. Do you agree to this fee? Yes [ ] No [ ] If No, please specify:
Our standard fee for a Reverse Mortgage Closing is $100. Do you agree to this fee? Yes [ ] No [ ] If No, please specify:
Our standard fee for a Piggy Back 2nd Mortgage is $25 on top of the amount for the 1st Mortgage. Do you agree to this fee? Yes [ ] No [ ] If No, please specify:
Some of our closings will require you to print email docs. Our standard fee for email docs is $20. Do you agree to this fee? Yes [ ] No [ ] If No, please specify:
Do you do Purchase Closings? If so, please specify you amount:

Reply by kcg on 7/5/12 11:50am
Msg #425611

I was surprised as you when I was recently called by a "4-star rated company" and told the fee for an application 30miles away was $65. And she was a bit put off when I said no to this offer.

I suspect that some people rate a company4/5 stars if they pay in a timely manner and don't require a boatload of fax backs....no matter how low the fee is

Reply by janCA on 7/5/12 11:55am
Msg #425612

Just because a company states their fee at a certain amount, doesn't mean you have to accept it. You are independent and you set your own fees and that's what you put into the application. I have negotiated with many title companies what my fee will be and that's what is put into their system. And if all goes well with this company, I would give them a four or five star rating, it wouldn't matter what fee they are trying to pull you in with on the app.

Reply by kcg on 7/5/12 12:00pm
Msg #425614

This particular company refused to raise the fee....therefore I turned it down. They indicated that $65 is the top fee they pay for an application especially since if the loan goes through you will get first call to do the final signing.

Reply by Lee/AR on 7/5/12 12:15pm
Msg #425615

Under all the stips outlined...no way! 1 Star only cuz NO

stars is not an option.

Reply by Jessica Ward on 7/5/12 12:23pm
Msg #425619

I got a contract like that recently--worked in my favor.

I struck through every one of their fees and wrote mine in (mine are double or more of almost everything on the list). Work came immediately at my fees. Boy was I surprised. I was hoping it would put me on their do-not-call list if they just wanted to call with offers like that.

Since they're happy to meet my fees, I say "welcome aboard!"

Reply by NJDiva on 7/5/12 12:36pm
Msg #425621

LOL...I agree with Jessica. I just lined through their fees

too. lol But I don't remember who the company was and if they called me lmao!!!

Will someone please PM me with it? lol

Thanks

Reply by Jessica Ward on 7/5/12 2:14pm
Msg #425646

I don't remember either. :-/

I scan all my contracts and throw them in my Evernote file but never pull them out again. I figure they're there in case I ever get sued, but otherwise, it'd take me all day to find the one I'm looking for. There are years worth of them in there.

Reply by Lee/AR on 7/5/12 2:23pm
Msg #425651

This is also true--I sometimes wonder if suggesting such low

fees isn't just a way to sort experienced NSAs from newbs.