Posted by Victoria/FL on 4/21/05 4:46pm
Msg #33188

It's the principle - what would you do?

I received a call from a mortgage broker to do two loan signings tonight. She would have the two loans and meet me at borrower's home. I quoted her my fee, and she said it was high - she usually only pays $60-$65 per loan. So if you figure piggy back, a maximum of $130.

Now technically, this may be acceptable from a signing service, but from a mortgage broker? Shouldn't they be paying about the same as a lender or title company? I almost agreed to the lower fee, but then I've had a busy week and I'm tired, so I decided to let her find someone else.

Am I wrong to lump mortgage brokers in with title companies? Oh, and by the way, she said she was a loan signing agent, too, but that she couldn't do this loan since it was hers. You would think she would realize that $130 was a bit low...

Reply by TERE on 4/21/05 5:10pm
Msg #33194

FOR SURE YOU DID THE CORRECT THING, I WOULD HAVE DECLINED IT TOO! & BY THE WAY IT DOES NOT MATTER IF THEY ARE A TITLE COMPANY OR NOT THEY NORMALLY PAY YOU $125.00+

Reply by PAW_Fl on 4/21/05 5:25pm
Msg #33200

Victoria, please email me ...

or call me. See profile for specifics. Thank you.

Reply by Debbie on 4/21/05 6:38pm
Msg #33222

I agree 100%, when you see the fees being paid to 3rd party companies at 200-300.00 and they want to pay you 60.00, I would tell her 150.00 or sorry could not do it.

Reply by Sheila Meinecke on 4/22/05 12:56pm
Msg #33348

I would agree, its not coming out of her pocket, I dont understand why she would not pay the going rate. In my area, lenders and title companies pay about the same