Posted by Linda_in_MI on 9/27/05 11:27am
Msg #67577

Seeking opinions on verbage and fee for e-docs

OK, I'm no spring chicken at this, but not that old that I can't still learn a few things.

Accepted signing yesterday about 3 pm EST for 7:30pm EST sigining. Got confirmation no problem, confirmed with borrowers no problem. But by 7 PM EST no edocs. Called SS. They didn't have them either. Long story short - 3.5 hours later, still no edocs so SS cancelled signing. And they said this wasn't the only signing last night with edocs issues. There were 3 others. all from same TC.

Question: How many of you have "disclaimers" or discussions up front in regarding fees if edocs not received and signing is cancelled? This is the second time with this finance/TC, and although I enjoy working with SS, I don't want to lose out because my time is being used waiting for edocs. I'm thinking of something along the lines of one or more of the following: requiring edocs one hour before confirmed appointment, OR fee if edocs not received, OR fee if cancelled due to nonreceipt or not accepting in the first place.

Opinions?

Reply by Charm_AL on 9/27/05 11:51am
Msg #67582

simple...have a drop dead time to receive docs, or you call the ss and cancel.
No docs or cancellations = no fees. They won't pay you for not receiving edocs because you haven't done anything

Reply by Anonymous on 9/27/05 2:12pm
Msg #67628

...and what do we get charged from the Doctors or Dentists if we are a no-show at a scheduled appointment or do not cancel 24 hours prior?? Can we not also be viewed as the same?

Personally, I would be upfront on a modest fee for a no-show edoc from the source...

Danny

Reply by Desiree Roman Innovations, Inc. on 9/27/05 2:35pm
Msg #67631

There are companies that pay a $25 fee for cancellations within one hour before closing. I would say you definitely qualify for that fee.

Reply by CarolynCO on 9/27/05 2:48pm
Msg #67634

You need to make it clear when accepting the signing that you have a DROP DEAD time for e-docs. Mine is 3 hours and refuse the signing if received 2 hours or less.

As for compensation, you didn't print anything so you can't get a printing fee. You didn't leave your driveway, so you can't get a trip charge.

Unfortunately it's more or less a crap shoot when accepting signings -- Borrowers cancel before signing; e-doc coordination never happens and you either don't receive the docs or you receive them hours after scheduled signing; you print/copy docs and Borrower reschedules to a different date; all the time we have made a commitment for one signing we are turning down other signings only to find ourself stood up at the alter -- all dressed up and no place to go.

If I've printed docs but never leave the drive, I charge a print charge. If I'm enroute and get a call saying Borrower canceled or rescheduled, I charge a print and trip charge. If I go to the signing and somewhere during the signing, Borrower(s) stop the signing or refuse to sign, then I charge a full signing fee.