Posted by JPS_CA on 8/21/05 11:43am
Msg #60568

Why edoc and trip fee? When is LO, lenders fault????

Im going to start refusing signing that do not pay if not signed for any reason.
I had one last week that:
INTEREST WRONG!
PAYMENT WRONG!
ARM, HE WANTED FIXED!
PREPAYMENT, HE ASK A LOAN WITHOUT IT.

LO officers want from us to sell the loan? NO way guys. We are impartial in the transaction right?
So if we are impartial why they dont pay full fee even if they dont sign,and speccially if they dont sign because the lender made such a big mistakes. This particular borrower wanted a fixed loan, the payment was 500.00 over quoted, he wanted escrowed loan. AHHHHHHHHH if you make a mistake in the loan you get docked 10,
25 dollars, but if they make the mistakes we pay for that!

Thank you for letting me vent on this one.


JPS

Reply by LawrenceOK on 8/21/05 12:59pm
Msg #60579

Why anyone would work for any company that has a no sign, no pay policy is beyond me. We as Public Officials should not (in most states cannot) have a financial interest in what we notarize. That includes a DOT whether it gets recorded or not. They at minimum should pay a reasonable trip charge. My trip fees are $50 plus mileage which I think is more then reasonable. If the borrowers use their RTC or the loan does not fund after the fact, It is not my problem and full fee is expected.