Well I don't know about just be intended for new members. The idea is to stay in any business you must be competitive. I've been doing this since 2001. I used to get $175 for a refi. Countrywide everyday. Wow. $150 typical. $125 minimum. What happened to that. I cannot speak for California.
In any event, for me, and I can only speak for me, I will to AmRock/TS Quicken loans at $85 all day any day. I used to get more. Dropped b/c when app came along I knew I would "ding" more. And FOR ME it was a good decision. I limit my area number one. Turn down anything I consider "too far" for $85. But 1 set of docs. 3 notarizations at most. No hassle. Clean, clean package. Very seldom more than 30 minutes and no faxing back even for investment properties. Reverse mortgages pay more. Paid by ACH a few times a month. I look in my account and voila a couple of thousand in my account. Like I said wish I could take them all.
Last week I got a call, for a BoA signing, wont mention the signing company. Last minute they met my fee.. Wasn't 85 you can bet on that. They said about 30 pages of faxbacks/scans. Okay Friday night. I have a fast scanner. First of all 54 pages. Package about 120 pages of which 20 or so pages instructions. Are you kidding me. You end up reading them because maybe they have some special requirement and then you say BS and hope for the best. The scans are not bad. It is taking apart the package. I would rather scan the whole package and let them hunt thru the package. They said this should be done within 2 hours of signing. Another joke. Do you take the rest of the day off to scan. Mine was at night so no problem. Got called next day while at store. Did not send all pages of 1006. What? I left out Schedule of Real Estate Owned. Excuse me? Never mind. I will upload it when I get home. Why argue. I did. They called back 3 hours later. I can drop the package. This is 5 pm est. Saturday. On Monday they text, they have another, it is a cattle call, Accept or decline. They will let me know. I saved them the trouble. I declined..
So like I said. $85 for Quicken is fine.
Should all houses be painted for the same amount of money? A castle and a one bedroom cottage?
Everybody must decide what they need to do their business.
I say none of this in sarcasm truly. This is only what works for me. Good luck to everyone.
Barb |
