Posted by Cari_MO on 10/13/05 10:57pm
Msg #70424

What do you all think ?

I took a last minute closing tonight. It was a 1st and 2nd. Edocs, 1st 198 pages 2nd 272 pages this included customer copies. 70 miles round trip. Went to the closing to find out that the 1st mortgage rate was incorrect . So customer did not sign. What do you thing is a fair charge ?

Reply by TitleGalCA on 10/13/05 11:08pm
Msg #70427

Your full fee, plus mileage if appropriate.

Reply by NY_TaxLady on 10/13/05 11:09pm
Msg #70428

I agree with Titlegal. It is not your fault it didn't sign.

Reply by Cari_MO on 10/13/05 11:20pm
Msg #70430

My fee was 150.00. This was my 1st closing with this title company. The customers also advise me that this was the 2nd time they tried to close. Papers wrong that time too. This was the largest loan packages I have done !! We will see what they will pay ?

Reply by SarahBeth_CA on 10/13/05 11:35pm
Msg #70431

Those were overnight docs weren't they. Even if they were 150 is real low for such large packages. Did you have any idea they were that big?

Reply by Cari_MO on 10/13/05 11:45pm
Msg #70432

They were email docs. I had no idea the packages were so large. I should have asked my fault there. I really should have charged more. The LO wants me to re-close. But I am thinking I should adjust my fee this time. Due to excessive pages ! This was the largest package ever !!

Reply by SarahBeth_CA on 10/14/05 12:31am
Msg #70435

You know I wouldn't have thought about the possibility of such huge packages. Your original fee of 150 I would say was still low. I would say 125-150 for a 1st, but not for a piggyback.

Reply by SarahBeth_CA on 10/14/05 1:33am
Msg #70437

Just reread your post and at first I thought you meant those numbers were just the packages not the copies. I am revising my statement of "huge" packages to "a large second package". Still 150 is low.

Reply by CarolynCO on 10/14/05 10:50am
Msg #70481

Re: Ditto ...

I agree with SaraBeth -- TC = $150 (all inclusive) for 1st plus another half for 2nd. As for additional mileage charge, knowing it was 35 miles one way, excess mileage charge needed to be discussed/agreed with initial call -- you can't go back now and charge additional after the fact.

Reply by SoCal Signing Co. on 10/14/05 12:55am
Msg #70436

not mileage too

That is the largest package I have ever heard of.. your poor printer must have been smokin

I would say you should get the full fee, but I certainly would negotiate this with them tomorrow morning first thing.

But no mileage fee, you get what you agreed on, and you must have known you were driving 35 miles one way.

Reply by Cari_MO on 10/14/05 7:52am
Msg #70442

Todays Lesson " They seem to be getting larger and larger"

ALWAYS ASK THE NUMBER OF PAGES IN EDOC PACKAGES !! I know I should have charged more. When I saw the number of pages :( Of couse they don't volunteer the number of pages. My printer was smokin!! I think I went through a drum on that package !!! I will be calling them this morning to see what'z up. Polite as always. I will let you know what happens. Thanks guys for all your input !!!

Reply by S_LPVA on 10/14/05 10:04am
Msg #70467

Re: Todays Lesson " They seem to be getting larger and larger"

I would charge the full fee for going out there and then charge your same fee for the 2nd trip if you decide to go back. Whew! Those were alot of pages and then to have to re-print again??

Reply by Kevin Louderback on 10/14/05 10:06am
Msg #70468

Re: Todays Lesson " They seem to be getting larger and larger"

I am going to say that I doubt they will want to pay more than the Edoc fee and a $25 trip fee for the original unsigned order. Just speaking from experience and knowing what they usually pay in my area of MO. I would say that if they want you to re-close, that you call the borrower and review docs by phone prior to making a trip or printing the package the second time. I know that we always review by phone on every order when docs arrive so the borrower can make their decision right up front. Not saying to go page by page, I just review costs, interest rate, terms and payment amounts. This way if they cancel, I am not out the time of the drive nor printing of the docs, etc.

Reply by SarahBeth_CA on 10/14/05 12:08pm
Msg #70504

Re: Todays Lesson " They seem to be getting larger and large

"I know that we always review by phone on every order when docs arrive so the borrower can make their decision right up front. Not saying to go page by page, I just review costs, interest rate, terms and payment amounts"

Kevin if you are doing that then you are doing the LO's job. They are to do this before you go out. It is our responsibility to point out "where" the particulars are; not to get in to "what", "when" or "why". If they choose not to sign then that is thier perogative.

If we base our fee on whether or not they sign then it could appear to put us in an unimpartial status. That is what our hiring entities need to understand. We must maintain impartiality.

Reply by OnTheGoInFla on 10/14/05 10:03am
Msg #70466

I charge $25 per document package for each loan up to 100 pages then an additional $10 for the borrower copy up to 100 pages. If over that amount I charge .15 per page.
These are only the printing fees. If it's a piggyback then those fees are charged twice.

As far as the signing for a first it's usually $75 and an additional at least $60 for the 2nd.
They should pay you the full amount for the trip cause it wasn't you fault it didn't go.
As for the 70 mile trip, I would definately charge mileage.

Reply by CarolynCO on 10/14/05 10:51am
Msg #70482

**As far as the signing for a first it's usually $75 and an additional at least $60 for the 2nd.**

I hope these are SS rates and not TC rates.

Reply by Cari_MO on 10/14/05 1:26pm
Msg #70522

UPDATE; ON THE NEVER ENDING LOAN PACKAGE

"I took a last minute closing tonight. It was a 1st and 2nd. Edocs, 1st 198 pages 2nd 272 pages this included customer copies. 70 miles round trip. Went to the closing to find out that the 1st mortgage rate was incorrect . So customer did not sign. What do you thing is a fair charge ? "

Here is what happen. When I advised the TC the loan did not close(s) due to incorrect rate. They said they would pay me for trip fee and email docs. I took your advise and said that due to the size of the loan packages (listed above) anddo to fact that it was not my error, I would have to charge my full fee of $150.00. Some of you all also said I was low due to amount of pages and I agree. So when they asked me to reclose today I corrected my fee. They accepted. Since this is the 1st closing I have done for this company. I sure hope they pay. Not much listed on payment history here. So we will see. Alot of work to not get paid !