So true. Also, the average size of a package has gone up. I've noticed over the years that, with some lenders and title companies, there are now more and more internal documents included in the packages that didn't used to be there. So that print cost has been transferred to us. Multiplied out by hundreds and potentially even thousands of packages, it can add up to savings to them that can be significant in large volume.
On an individual basis, the difference may seem insignificant, but over time, it has an impact on us, too, as we end up eating more and more of those little extras. By way of example, when I started in this business 14 years ago, my estimate is that the average size of a loan package was about 80 pages. Today, I'd guess it's closer to 130. (Naturally, there are also new forms that have been added over the years for a variety of reasons.)
Just something we should keep in mind when setting fees. |
