Posted by Janlee_MI on 4/1/06 9:13am
Msg #110232

Question about Cancelation Fee?

I normally don't charge a cancelation fee but this is one is really different. I printed docs for 2 loans, turned down two loans to do. Called the borrower all day no answer. Spoke to the SS about 7 times. Finally got a hold of the borrower 5 mintues before appointment on my way to the signing. She just got home with her husband, and stated he had surgery on his knee and the loan officer knew he was having surgery. I cancelled the signing because of him having surgery. The SS company stated that the loan officer said she didn't know. But the would reschedule and call me again. ( Not heard anything since then).
What would you do? And if you would charge what would you charge?

Reply by MistarellaFL on 4/1/06 9:32am
Msg #110234

If I printed, I would charge a print fee and travel fee if applicable.
Cancellations are part of the biz.

Reply by janCA on 4/1/06 11:54am
Msg #110250

Don't print docs until you have a confirmed appt. with borrowers. The last-minute cancellation is just a part of this business. And if you receive a lot of business from this SS I would waive a cancellation fee if you want future business from them.

Reply by CaliNotary on 4/1/06 3:47pm
Msg #110283

I'll second what Jan said

NEVER print edocs until you've confirmed directly with the borrower. It saves the hassle of trying to collect printing fees for signings that don't happen, and the companies that hire you are grateful that they don't have to shell out the $$ for nothing.

I couldn't even begin to guess the number of edoc signings that ended up never materializing for me for various reasons.

As for the cancellation fee, I agree that it just goes with the territory. But if they scheduled an appointment at a time that the borrower told them was impossible, I'd say send an invoice for $50 or $75 and see what happens. But I wouldn't expect to get paid and I wouldn't push it if I didn't.

Reply by lulu on 4/1/06 5:57pm
Msg #110308

Re: I'll second what Jan said

I had one that sent me the docs, I confirmed with the bo but I guess there were discussions still going on about figures and it was canceled about an hour before. Aptmt was rescheduled a week later, I started to print but realized that I only had the docs for one of the two loans so I called the ss. Then I waited and waited, finally called them back about an hour before signing to find out what was going on with my docs. 'Oh it's cancelled.'. I printed over 200 pages the first time (2 copies) and over 100 pages the second time (2 copies) for a total of 600+ pages. I billed the ss for edoc fees and cancellation fee but they have never responded. About a month later they started calling me for signings again. Ya I guess I had to make a determination whether to push it or let it go. I let it go cuz they have given me quite a bit of business since I started.