Posted by Polly_CA on 6/2/05 3:43pm
Msg #41881

Was this too much ?

I did a signing yesterday , it was a 1st and 2nd loan so there were 2 sets of documents. I initially charged $100 not knowing it was a 1st and 2nd. Afdter I found out I told them it would be $200. So the loan officer called me today and said $200 was too much and if I could lower it. Also it appears that I missed two papers, they were not initialed. I feel bad about this of course, now I have to go to the borrowers house today which is going to take me an hour to get there. Do you think $150 is asking too much for a 1st and 2nd? The loan officer still only wants to pay me $100. I feel bad that I missed something but do you think $150 is unreasonable? She really seems to think so. Id really appreciate some feedback asap. I have to leave for the borrowers in 45 minutes.

Reply by SamIam_CA on 6/2/05 3:46pm
Msg #41884

Were they e-docs or overnighted to you?

Reply by Polly_CA on 6/2/05 3:48pm
Msg #41885

I did the signing at the brokers. The LO called me two hours before hand.

Reply by SamIam_CA on 6/2/05 4:06pm
Msg #41893

First of all - chalk up missing the initials to as a learning experience. The drive there and back has nothing to do with how much you were paid.

When you got to the broker's office did you tell them that your fee was $100 per loan before you started? It is pretty common practice to charge 50% for the piggybacked loan. That would make $150 a reasonable fee. However, if you want to do more signings for them (if they still want to use you) I'd take the $100.

I do signings in a broker's office for $75. I love working there because there is none of the panic associated with e-docs, I don't have to wait for docs to be delivered, I don't have to worry about sending stuff back and most importantly - I don't have to juggle the docs on my lap or a TV tray. For a piggy back there I charge $100 and feel that everyone got a fair shake of the stick.

Reply by Polly_CA on 6/2/05 4:21pm
Msg #41901

Learning experience

Yes, while I was waiting for a reply I went back and read some posts that helped me realize that when you make a mistake just take it as a learning experience. I hadnt done a piggyback before so when I saw that we were signing two sets of docs I just automatically figured to charge them double. My mistake. So now I have to appologize to everyone for my mistake, drive an hour just to sign 2 papers and explain this all to my husband who will not take it lightly. As for the LO using me again, we'll have to see about that. She is really cheap and she has another notary she uses that will do any signing anywhere who will backdate docs for her.
*Sigh* Woe is me.

Reply by BrendaTX on 6/2/05 4:28pm
Msg #41905

Re: Learning experience

But, Polly you'll never do it again.

I miss my husband a lot, but tell ya...not having one to have a fit over this kind of cost of doing business re-do is something I don't miss...and, as long as I am doing this kind of work I won't be thinking about having a husband.

Reply by SamIam_CA on 6/2/05 4:30pm
Msg #41907

Re: Learning experience

There you go - putting things into perspective again.

Reply by HisHughness on 6/3/05 12:37am
Msg #42028

Re: Learning experience

Brenda promises us guys:

***as long as I am doing this kind of work I won't be thinking about having a husband.***

WHEW!

Reply by SamIam_CA on 6/2/05 4:29pm
Msg #41906

Re: Learning experience

***she has another notary she uses that will do any signing anywhere who will backdate docs for her***
Well then it is settled - you don't want to work for her again anyway!

***explain this all to my husband who will not take it lightly***
Oooh - that sucks - can't help you at all with that one!

Reply by Markita-MI on 6/2/05 4:32pm
Msg #41908

Re: Learning experience

Fortunatley, knowing is half the battle and applying it the other half. If he/she(loan officer) does call upon you again great. If he/she doesn't, it is probably just as well also.

I found that when you have strong character and integrity ( both personal and professional), you attract personal and business relationships that are meant to last, grow, and develop. In our business that is what it is all about.

Until your next first and second....know the value of the service you deliver. If you don't know what you are worth, no one else will.

Remember, "you make it happen".

Markita-MI

Reply by Polly_CA on 6/2/05 5:40pm
Msg #41930

Thanks All

My husbands laughing about my mistake right now so thanks to YOU all for your kind words I do appreciate it.

Reply by Rickwca on 6/3/05 12:30am
Msg #42026

Re: Thanks All

It is nice to be long to a group notaries on this site that help each other. I have learn a lot from this group.
Thank you
Rick