Posted by Joe_PA on 8/18/05 7:23pm
Msg #60047

1st and 2nd loan

I have a signing tomorrow it's a 1st and 2nd loan (my first of this type) what should look for?

Reply by tomparson_IA on 8/18/05 9:23pm
Msg #60069

No big deal!! If you have closed loans before you will have no problems with a 1st & 2nd. Just make sure that you keep the loan packages completely separate--like 2 separate loans. Also you need to allow a little more time to complete the closing. I am sure you will do fine!!

Reply by I-KAN Ink on 8/18/05 9:49pm
Msg #60073

Just like Tom said, if you have done the 1st you'll be fine..........hopefully you charged for the 2nd though, sometimes ss try to get newbies to sign for the same amount as 1 loan. Good luck!

Reply by Joe_PA on 8/18/05 10:01pm
Msg #60074

They are paying for both and edocs, pretty good price.

Reply by I-KAN Ink on 8/18/05 10:05pm
Msg #60076

Good for you!!!! I'm glad I hate to see anyone that is new at these to get ripped off just because they don't know. Those are the best ones to do (my preference anyway) because I can make almost twice the money going to one place. I would rather do them than anything else because it doesn't take as long on the 2nd set..........because what I do is say this is the same thing just different amounts (loan, apr, interest........so I highlight that info only and have them sign).

Reply by calipat/ca on 8/18/05 10:48pm
Msg #60100

Is this an unreasonable amount?

Glad to hear you are getting paid good for this.
I got a call today from a SS that I do like and do at least 3-7 signings a month. The guy who called me up was someone I had never heard of. He wanted me to go into SD and pick up the docs which is about 20 miles from me he quoted $10 for that. I wanted to laugh, but I let him finish then he said it is a 1st and a 2nd and total payment will be $85. I told him no can do not for that amount. Especially going into SD to pick up docs and then go back in the evening to sign. He stated well that is what we pay. I said well maybe another time when it is just a first and overnighted. He then put me on hold and then came back and said sorry we really cannot pay that. All I was asking for was $125 and $20 to pick up docs....was that unreasonable?

Reply by MelissaM/FL on 8/18/05 10:54pm
Msg #60104

Re: Is this an unreasonable amount?

No, it wasn't an unreasonable request. Matter of fact, my quote on that would have been much higher.

I was asked to do one today where the broker wanted me to meet him at his office and ride with him to the borrower's home. I told the SS that the fee for that would be astronomical because I don't want to be tied up with that broker all evening. Then I got two calls for other work (freelance paralegal) that will be MUCH more lucrative than that one signing.

Reply by I-KAN Ink on 8/18/05 10:59pm
Msg #60108

Re: Is this an unreasonable amount?

No!!!!!!!!!!!! I don't know what the going base rate is in your area, but in Kansas....title companies won't do a witness only closing for less than $150 and they don't have to/and won't go get docs. As an experienced escrow/title closer, I have found that by saying to the ss if they want what they pay for then go ahead and find someone else. That comment has made ss call me back and sign with me anyway..............mostt of the time they do it to check to see if they can get it done for cheaper.