Posted by O/CNotary on 10/21/05 6:01pm
Msg #71785

TC hired me for $200 fee w/edocs. Brw didnt sign, TC wants

to pay only half since BRW refused to sign based on fees that he was unaware of. Is the $100 fee fair? They wanted me to reprint everything with a new date and go back again, but I am booked solid that day. Any thoughts guys?

Reply by Rebecca_TN on 10/21/05 6:49pm
Msg #71792

The confirmations I get from TC clearly state that they pay half if it is a no sign. Some of them say half fee if the BWR cancels. Since almost all of theirs fund, it is worth the risk to me for such a good company. Take the loss and keep the relationship.

Reply by Cari_MO on 10/21/05 8:18pm
Msg #71803

I agree with Rebecca.

Reply by CaliNotary on 10/22/05 12:04am
Msg #71833

Re: TC hired me for $200 fee w/edocs. Brw didnt sign, TC wan

I agree too. Life ain't always fair, but why cut off a source of possibly thousands of dollars in the future just because you want an extra $100 now? Especially since it's very very very likely that the TC will only pay you the $100 no matter what you decide.

Unless you had to travel an extreme distance, $100 is still pretty good for a signing.

Reply by MistarellaFL on 10/22/05 9:40am
Msg #71876

And you will continue to work with them with TC fees. n/m

Reply by AM_MD on 10/22/05 12:54pm
Msg #71894

Half is fair. In fact, that's pretty standard for edocs.

Reply by PAW_Fl on 10/22/05 1:39pm
Msg #71899

Not fair ...

>>> Half is fair. In fact, that's pretty standard for edocs. <<<

I respectfully disagree. IMO, if I spent the time to print the docs, drive to/from the signing and spent some time at the table, I fulfilled my responsibility to the title company and lender. Often, a no-sign takes more time than a full signing, so why should I accept less than full pay? I did my job, I expect reasonable and fair compensation for the job completed. I do give discounts if the signer's don't get past the HUD and I spend less than 15 minutes at the table, but it's not 50% of the total bill. Most of my fee is travel costs (typically an hour each way), followed by table time (based on 45 minutes) and finally printing costs. If the borrowers don't sign, then that's a fee that cannot be recovered, usually. And I may have turned down other assignments because I couldn't do them (and they would have paid as much, if not more) at the same time.

Reply by O/CNotary on 10/22/05 2:32pm
Msg #71907

PAW, in your opinion would I be jeopardizing my relationshi

with the TC by asking for more than half. I am willing to cut them a break since it was a no sign, but half just doesnt seem fair to me having to print 4 sets (2 loans) and going the 25 mile one way distance.

Reply by CaliNotary on 10/22/05 2:56pm
Msg #71909

Re: PAW, in your opinion would I be jeopardizing my relation

Is it worth jeopardizing your relationship with them to find out? I recently had a finance company get mad at me because I wouldn't go out for FREE to do a second signing due to screwed up loan docs. I don't expect to hear from them again, but I don't consider losing a company that is that unreasonable to be a major loss.

A company that willing to give me $100 for a no sign? Yeah, I'd definitely want future business from them.

Reply by PAW_Fl on 10/22/05 3:43pm
Msg #71912

Re: PAW, in your opinion would I be jeopardizing my relation

I really can't answer that for you. You need to determine if $100 compensation is enough to cover the amount of time your spent, vehicle expense and printing expense. Sometimes, that's not a bad rate, other times, it could be. For example, I'm a little less likely to give a break when this kind of stuff happens during the EOM crunch. Beginning of a month, probably would be okay if it's a title company that I like and would like to be a 'preferred' vendor for. You have to weigh all the conditions and facts yourself. Every situation can be different and requires a business sense to applied in that particular instance. Broad brush strokes don't work too well in this industry.