Posted by Robbins on 5/14/05 1:34pm
Msg #37799

Fee for E-Docs

I did an E-Docs closing for Insured Closings for an H and R Block Loan. The documents totaled 160 pages to print. The fee for the printing is $25.00 It is not worth the use of my equipment or time to do this again for this minimal fee.

What do you all charge for printing the E-Docs? Thanks in advance.

Reply by BeccaWI on 5/14/05 1:55pm
Msg #37805

I charge 30.00

Reply by Bobbi in CT on 5/14/05 2:31pm
Msg #37815

I negotiate it with each company when I take the assignment. I always ask before taking Edoc assignment who is the lender and how many pages; many times scheduler doesn't know, but if I've done a signing with that lender before I know.

Also, I quote a total fee for paper package or Edocs. The company can break it out any which way it wants. The last one I had the company wanted to know why Edocs fee was so high. I told scheduler it wasn't the cost of paper, equipment and time, it was for the aggrevation factor - late Edocs, incomplete, problems at scanners end, etc. Company met my fee stating "there won't be any problems with this package." Document package was small and on-time. Too bad when I raced to the signing it turned out to be "wrong." Processor hadn't make the "new" mortgage broker changes. Loan a different amount and settlement statement didn't include all the costs. Found out at the signing table when docs had to be re-drawn for another day. Edocs have a high rate of fast, sloppy, and incomplete factors.

Reply by Anonymous on 5/14/05 2:47pm
Msg #37820

So Bobbi how would you end up charging. These are my thoughts. Pretend scenario here. $50 for signing, $25 or e-docs. Many ss pay only a trip fee when the signing isn't completed. However the way I see it is this. Say the trip fee is half the signing fee. Shouldn't the notary be paid $50= $25 trip fee + $25 edocs. Then if they correct the paperwork and send you again it should be full fee of $75 assuming it's e-docs again. So in the end you should be getting 2 separate checks, one for $50 and one for $75.

Reply by Bobbi in CT on 5/15/05 1:48pm
Msg #37947

Trip fee / Edocs fee

My style and situation is different from most. I also don't work for every company out there - through mutual agreement. They don't like my style or I don't like their style.

I go out and the borrowers decide not to sign within first 15 minutes, LO on phone negotiates a new deal and I get the signing - generally no charge. I print Edocs and the borrower cancels before I am out the door - no charge. My fee for a full signing is often Higher than my competition, this is how I make up for my lost time. I don't nit pick cost of paper, toner and miles-per-gallon. My time, on the other hand, is very valuable to me.

I don't get all the work in my area. I don't go out 24/7 or even 5/5. I don't answer my cell phone at the signing table unless its from the company that gave me the assignment, which makes me a real PIA for many SS services. That's OK with me. Leave a detailed message (town, date & time), I will call back as soon as I am out the door. I accept only the assignments that I want to take, cancellations are rare, and checks come within a reasonable time and don't bounce.

Anonymous, I am not going to post my fees on a public board, but I'll tell you that depending on who I am competing against for the assignment tey are high, mid-range or low. I believe my $40 paper package signing, which included bringing a witness, competitor is no longer working in this industry. Competitor w/in 5 miles of my home that was doing Edocs for $75 full-time decided to get a full-time 9-5 job with benefits and vacation pay. I rarely do Edocs for $75. It has to be close to home for me to lower my Edoc fee; i.e., volume and no-aggrevation factor discount (tell me the lender and loan product [schedulers DO know that] and I usually know from experience how many pages and how long at the signing table). Sometimes my estimates are wrong, but over time the right % rate pays off. Do I lose work to my competition? All the time, but my Excedrine for migrane expenses have been cut in half. Surviving in the real estate industry is like gambling. You win some. You lose some.

Actual scenario for you: Scheduler calls me: $50 for signing and $25 for Edocs. My all inclusive fee $125. Scheduler replies, "We can't pay $75 for Edocs. Why is your fee for Edocs so high?" Answer, "That's my fee for an Edoc signing in that town, on that date, at that time. I don't break out Edocs, borrowers' copy set, faxes, mileage, and telephone calls separately." I get the assigment. Confirmation states "$100 signing. $25 Edocs." I get my $. Downside: This can result in the scheduler putting me in their database as a $100 minimum for any signing, which will drop me to the bottom of the calling list.

Reply by MI_Notary on 5/14/05 8:13pm
Msg #37847

I normally only charge $25 for loan documents. However, they are usually only 80 pgs. WOW is all I can say regarding this set of docs. Are you sure it wasn't a 1st & 2nd?? That would also make a difference on what I would charge for the docs, plus the signing itself. I would suggest making a note of that for next time and asking how many pgs before quoting another closing. ;)

Reply by ColleenCA on 5/14/05 8:21pm
Msg #37849

Everytime I have asked "how many pages" they always say "I don't know". I charge 35.00 for edocs. I charge more if it is a 1st and 2nd or if it is not a standard package.

Reply by Ernest_CT on 5/14/05 9:39pm
Msg #37858

Asking the signing service for the number of pages is usually useless. Most of the time they legitimately don't know because they have not received them yet.

The only suggestion I can offer is "$DD.00 for up to P pages, $DD.00 + $d.00 between P and Q pages, and $0.cc per page thereafter." You will have to decide the values for DD, P, Q, and cc based on your costs PLUS the aggrevation. The signing service would not ever pay me enough for my SwiftView annoyance on Friday night.

Reply by YVONNECA on 5/15/05 5:38pm
Msg #37976

I don't know how close any of you live to a kinkos or staples, but when I get a request for e-docs I simply download the docs to a floppy and take it to kinkos there is one close to me it takes 5 min max once you get the hang of it which is nothing insert disk click print twice once for lenders copies and once for borrowers and only costs a maximum of $5.00.

Reply by LauriecPa on 5/15/05 10:32pm
Msg #37993

I called Kinkos when my printer broke and was quoted 50 cents a page! (Where did you get a $5 deal? Wow!) The loan pkg. I had to print had 80 pages, x2 would have cost $80, so I printed it out all day and night on an old inkjet and made copies at Staples for the second set. Then got to the borrower's home and they didn't sign!!! lol

Reply by YVONNEca on 5/15/05 11:29pm
Msg #37996

I just use the self serve computer they have it costs per minute, I do not even know how much I am not even on there 2 minutes I just stick in my floppy and double click on print I make sure everything is in order and ready to go b4 I copy it onto floppy they charge .04 cents a copy. They rob you when you have them do anything for you behind the counter it is the self serve prices that are great staples is they same way they just do not have the self serve computers yet I hear they are coming though. I asked them to cut something for me once because all paper cutters were being used and it was like $2.50 for them to cut one piece pf paper in half I know what you mean.