Posted by Oldbie_CA on 9/8/04 1:34pm
Msg #7552

Loan Packaging

I was just curious as to how many of you offer loan doc packaging as part of your service to title or escrow companies.

If you do offer this service; do you charge extra?

TIA

Reply by KimE / NJ on 9/8/04 2:40pm
Msg #7554

What do you mean by loan packaging? Only been doing this a few months, but have never had that request.

Reply by Tracy/SoCa on 9/8/04 2:44pm
Msg #7556

I'd like to know too, I've worked in the Title Industry for years and have packaged policies and prelims, but don't know about "Loan packaging".

Reply by Oldbie_CA on 9/8/04 4:24pm
Msg #7559

Loan packaging is when you make all of the necessary copies and separate them by what needs to go to title, escrow and lender. You would normally use their copy machine to do this.

Reply by Jon on 9/8/04 5:42pm
Msg #7562

I have never been asked to do this. If I was, I would definitely charge extra depending on how many copies. Based on my title co experience, an extra $35 to $50 should cover it.

Reply by Pattijay on 9/9/04 12:43am
Msg #7570

Service Link has loan packaging when we do Full Spectrum. I hear they are lowering the fees to $15.00 per pair of e docs. It takes a lot of work and really is not fair as it take so much longer after a close to fax to full spectrum and to Service link, then devide the package and make copies. I love Service Link, but this upsets me. Anyone else feel this way.

Reply by KimE / NJ on 9/9/04 7:52am
Msg #7577

Ok - then yes, I have done "loan packagaing" for Service Link only so far. I have actually gotten the whole "full spectrum song and dance" down to about 15 minutes of extra time. I was not happy about the reduction in edoc fees to $15, especially because it now seems they are overnighting eveything except full spectrum. I told them with all the extra work involved with full spectrum loans, I would not accept only $15 for edocs. The scheduler laughed and said I know what you mean. I mentioned it would be a touch sell to get anybody to do them for that. She said - trust me, I know! I turned it down, then she called back and said she got my normal edoc fee approved.

Reply by pan/nd on 9/9/04 9:36pm
Msg #7637

Pattijay,

$15 for e-docs?


Bye , Service Link !

I don't get that much from them. Nothing the last two months. Before that it was sporadic:

a couple one month and then five or six the next.


Lately, (a couple of months ago) there was travel involved and they didn't balk at a $25 e-doc fee. But, that was a couple of months ago.

But if they squawk, I'll quote them $200 for a 10-mile trip and throw in the e-docs for free. (nice guy that I am.)

Reply by Darlene/AZ on 9/9/04 11:18am
Msg #7590

When I worked in escrow after a signing we would make loan packages and this is how we would prepare them at the company I used to work with.

For Recording
Original & Copy of the DOT & riders, if applicable
Orignal & Copy of any Quit Claim or Disclaimer Deed

For Mortgage Broker
Copy of the DOT & riders, if applicable
Copy of any Quit Claim or Disclaimer Deed
Note
RTC
TIL
1003

For Escrow
Copy of the DOT & riders, if applicable
Copy of any Quit Claim or Disclaimer Deed
Note
RTC
TIL
1003

Lender
Certified copy of the settlement statement
3 Certified copies of the DOT & riders
2 Certfied copies of the Note
Put together with all other signed lenders documents for the lender

There may be slight variations depending on the package but this is the basics. Hope it helps in answering your question.

Reply by Tracy/SoCal on 9/9/04 6:37pm
Msg #7622

Thank you for the explanation! Thanks to all of you that post on this board! I'm sure that Harry is happy that all of you experienced notaries are a great help and a great blessing!

Reply by new gal on 9/12/04 8:55pm
Msg #7806

Hi,
Thankyou to all of you on this wonderful message board. I am a new signing agent and find this open communication so helpful. I'm assuming edocs are sent via email and printed on your laser jet printers? If so, can anyone recommend a printer that is capable of handling edoc jobs? Does having the edoc availablity increase your chances of getting a signing?

I appreciate your input!!

Reply by HisHughness on 9/12/04 10:05pm
Msg #7809

The best possible answer you can get to your question about which printer to buy -- and the best education you can get as a neophyte signing agent -- is to simply start reading the posts on this board from the date that it started. You will find virtually every topic is covered, and covered quite thoroughly by experts -- veteran signing agents.

Reply by new gal on 9/12/04 11:14pm
Msg #7817

Thanks. I've been on this forum reading away since my previous posting at 8:55pm. I've been reading everything I can get my hands on, for the past month!!

I did find some good Printer info! Thanks again