Posted by BetsyMI on 11/3/05 10:21am
Msg #73927

Email request to do a closing

I have read on this board about some of you getting requests from companies "via email" to do a closing. I believe I read that you can actually be sitting in email, see the request come in, reply to it, and the closing has already been assigned to someone else.

I got a request today via email to do a closing tonight. It looks like it's still available when I click on the link. But all it says is that there is a closing "opportunity" and to reply to the email if I'm interested. It does state the city, so I can at least figure out how far it is. I can also assume it's edocs since it's for tonight. But it asks me to quote my fee, and there's no way for me to figure out if it's a single loan, or a piggyback too.

Have any of you run into this, and how do you quote your fee? The resultant message says I will be called if I am chosen to do this closing, so I guess I negotiate it then if there's a second loan and more than a few hundred pages?

Reply by Calnotary on 11/3/05 10:25am
Msg #73929

Most of the time when I reply its been taken already. And if available I just quote a high fee
because its a company that doesnt pay if loans doesnt fund.

And I send my quote: 175.00even,if it doesnt fund

Reply by BetsyMI on 11/3/05 10:28am
Msg #73930

Forgot to say they don't mention who the lender is either. God forbid I should underquote and it's an Ameriquest or Full Spectrum.

Do you know which company I'm talking about? You said...."because it's a company that doesn't pay if loan doesn't fund".

Thx.

Reply by NY_TaxLady on 11/3/05 10:42am
Msg #73940

Has anyone done a loan that was received via email?

It is usually filled by the time I respond.

Reply by BetsyMI on 11/3/05 10:44am
Msg #73942

Re: Has anyone done a loan that was received via email?

Well the last time I responded via email, it was filled. But this time when I clicked on the link, it asked for my email address and my fee, and said that I would be called if I was the "chosen" one. It's the same company as before so I'm assuming it's still open this time. They may wait a bit to see what bids they get before calling me.

In the comments section, I said I had to have the docs by 3pm since I have another closing before the one their trying to fill and it would be geographically stupid for me to backtrack later to get the docs if received late. Another reason to go totally mobile?????

Reply by Frances MacDonald on 11/3/05 11:33am
Msg #73957

Closeline.com???

This sounds like the same company. I receive daily requests from them and they appear to be "bidding out" the signing to fish for lowest fee? I respond with my usual fee but did not realize they do not pay if loan doesn't fund??? I will block future emails from them based on that one 'cause...I ALWAYS get my full fee whether the borrower RTC's/doesn't fund/ etc. Further reason to make sure your invoice is worded so that you are legally protected from Deadbeat SS.

Reply by BetsyMI on 11/3/05 11:53am
Msg #73961

Re: Closeline.com???

Frances, don't block emails from them based on what was said above. I was questioning the poster who responded to me, asking her if she knew who the emailer was, but I haven't heard back from her, so I don't know if it's Closeline that she was talking about.

Reply by BetsyMI on 11/3/05 12:42pm
Msg #73978

Re: Closeline.com???

Frances, Closeline does state in it's "Closer Acceptance Agreement":

"You will be paid a fee for each closing that successfully closes and funds. You will not be paid a fee for each closing that cancels, rescinds, or otherwise does not fund. The fee will be agreed upon in advance and there are no other payments for charges of any kind or type."

Reply by Frances MacDonald on 11/3/05 6:33pm
Msg #74069

Re: Be very careful accepting signing....

They must be joking? Thanks VERY MUCH for the info. I'm sure it's closeline.com because it matches, exactly, what there message states. No way I will do a closing and not get paid if borrower exercises right to cancel. This is why I tell folks..you're a notary first and a signing agent second. Once you notarize the documents, you have then provided the service. If the TC burns, shreds the docs..or if the borrower cancels...it's not your problem. You provided the service and what they do with the docs after you leave is not your concern. The signing request this company has been sending all seem to be 2 counties over...which I quote at $185.00. Don't think I'll be traveling from Orlando to North Daytona for free folks...or Orlando to Tampa..Orlando to Lakeland....I'm sure you get the picture. Thanks again for the info...it's why I love NotaryRotary.