Posted by Mary_in_VA on 4/12/06 12:07pm
Msg #113034

Last minute low fees (ATM) revisited!

I got a call at 12:45 p.m.: can I do a closing for them at about 4 p.m., with, of course, e-docs? I quoted them a lower than usual fee, since I KNEW they would not pay what I REALLY wanted to quote. I got the usual: "will have to get it approved...shouldn't be a problem since it's for a same-day closing..l.will call you back soon once I have the approval..."

It being twenty minutes later (now less than 3 hours prior to the scheduled closing), I will assume that someone took an even lower fee! I hope this title company saves enough money to make it worth the half hour the schedulers probably spend on the phone to schedule these closings and the more-than-occasional fees they have to pay to get another notary to re-close the loan when the first one messes it up!

(I wonder if this is the same one that they cancelled with me yesterday...that had been rescheduled for 4 p.m. today after having been cancelled for yesterday on Monday.)

I just don't need them that badly!

Reply by JS_MD on 4/12/06 12:34pm
Msg #113040

Mary I feel your pain....this is getting ridiculous...it started with NREIS and seems to be snowballing to other companies now as well. We all need to stick together and stand firm on our fees. I understand the market has slowed but they need to cut out some of the fat (and theres plenty) within their own companies...if they have to lay people off so be it..it happens nowand then when economic conditions change. I will not accept fee reductions...especially with gas costs rising dramatically in my region.The closing and notary fees are not being reduced on the HUDS...they are pocketing even more profit at our expense. The EOM ought to be interesting....schedulers will be tearing thier hair out trying to get closings scheduled at the bargain basement prices that are being offered. I cant tell you how many times I've stuck to my guns in the last couple weeks and get a sheepish phone call back saying that they'll meet my fee...sometimes you just have to play hardball.

Reply by Anonymous on 4/12/06 12:45pm
Msg #113044

You are right. The VM's have been trying this with the abstractors for the past year and one half. Unfortuately the abstractors rolled over and took it... Often lured by promises of volume that never materialized. The abstractors are now regretting not having insisted on their customary prices. Once the prices have dropped, it is almost impossible to raise them

Reply by DebOK on 4/12/06 6:15pm
Msg #113152

I'm curious to know if NREIS has offered to pay more than $65.00 & $90.00 (edocs). It doesn't matter if you're traveling 5 or 50 miles, the price is the same. I guess someone is accepting the fee because I'm not getting call backs.

Reply by NCLisa on 4/12/06 12:50pm
Msg #113047

I got a call from them at a little after noon today. They know what my fees are, and never call me unless they really need someone. Well the girl said, yes, we can meet your fee, but let me verfiy with my supervisor and call you right back. I knew I wouldn't get a call back, but they need to just say, we can't meet the fee.

Reply by PAW on 4/12/06 12:52pm
Msg #113048

Tell them ...

... you'll hold while they get it approved. You can't be waiting on a return call that you won't get. They'll probably tell you that "they" won't approve it, so no need to hold on, or they'll hang up on you.

Reply by BrendaTx on 4/12/06 1:34pm
Msg #113076

Re: Tell them ...

**Tell them ...
Posted by PAW on 4/12/06 12:52pm

... you'll hold while they get it approved. You can't be waiting on a return call that you won't get. They'll probably tell you that "they" won't approve it, so no need to hold on, or they'll hang up on you.**
================

Been doing this for over two years now and this is the kind of thing I learn on this board.

I have received about four of the "get it approved" calls recently. Some of the callers are so good that they can still make me think they are going to get back with me. When they do, it's just a little bit ever so stressful to wonder.

Thanks for the tip, Paul.

Reply by Tricia on 4/12/06 8:23pm
Msg #113172

Re: Tell them ...

I know that ATM pays low. I quote them my price and sometimes the scheduler has the authority to approve it, on the spot. Other times, not. About half the time I get my price. I like to stay with ATM as they refer your name to the new signing companies that they help create. Even though the agreement is to accept ATM's pricing, most all of the new companies pay me my going rate.
I don't sweat it if someone doesn't want to pay my price, as there is always someone out there who will. Since I don't want to accept the lower rates, then I'm satisfied with not getting that job! The same goes for all the companies who have fax back requirements. I am professional and know what to do; I don't need to work for companies that have to verify my work, at my time and expense!

Reply by CaliNotary on 4/13/06 12:28am
Msg #113204

Re: Tell them ...

One suggestion I saw on this board was to tell them that it's no problem if they need to get the fee approved, but your price will go up by $25 if they call you back. Since we all know that they almost never call us back, I think that's a fun way to give them back a little bit of the ebay crap they're giving to us on a regular basis.