Posted by BrendaTx on 8/1/06 12:05pm
Msg #136469

What is a "small package?"

Last night I was asked to reconsider my fee because it was a small package. I didn't.

101 pages for a prelim construction loan. Four signers for a part of it.

That's no small package.

That's why I set my fees as they are.

New agents should consider this also. You can always go down, but you cannot go up.

My fee will cover printing small packages which are really large packages, no signs/half fees, 15 miles on a dirt road, fax backs, and taking the title docs (23 pages) by fax.

Last week I was asked to do a package on last day to sign. I quoted, they said no. They hired a guy for $40. He called me and that's how I know. edocs, no less. He did not sign the loan b/c he did not know how to get the docs. The loan came back to me. Then it was cancelled b/c the loan was all wrong once the LO did the break out to the bwr over the phone. Had I gone the first time, it would have been a no sign. Had I taken their price, I would have gotten $50 on a trip fee. These are more prevalent. Price accordingly.

Reply by Ndwa on 8/1/06 12:46pm
Msg #136474

Doesn't matter how small or big the package is, I quote my fee by the job. There has got to be a reason why they called me b/c I know the next notary down the street will take anything less than that.

I have told companies off that they're only asking for more errors (especially from newbies) when I see 2-3 pages cramped with instructions. Why? They just create more distraction psychologically.

Reply by asigner on 8/1/06 1:39pm
Msg #136498

I agree

it is better to be concise - I've seen 7 to 10 pgs of instructions. Emailed and then faxed. Conflicting and confusing information. However, I also can understand what the TC and SS companies go through too. Unfortunately, there are times when everthing goes wrong and times when everything goes right. FRom real nervous BO who want to read every word in the pak, to LO who take 3 days of your time to get the package to you----Just breath deep and smile. Try to smooth out the wrinkles as you go(when you can) and dont be afraid to decide (when it's time) to (hold or fold). ----Have a great one.

Reply by MichiganAl on 8/1/06 2:28pm
Msg #136511

I don't raise my fee for larger than normal packages

So they shouldn't expect me to lower it for smaller than normal ones.

Reply by christiSocal on 8/1/06 3:31pm
Msg #136525

Re: I don't raise my fee for larger than normal packages

I got a call yesterday from one of the "favorites" '3 pages Only, can you do it for 20$" Ahhhh, let me think---- NO. So I named my fee. "I don't think I can get that approved, How about 40$" NO, how about xx. "ok, I'll try to get the approval" Gee I never heard back from them, I was so hurt. sniff sniff. Yes, it was N.D. I should remember not to answer Hidden phone nos. lol

Reply by hcampersFL on 8/1/06 4:50pm
Msg #136532

Re: What is a "small package?" OT

In my single days a "small package" would be considered a bad date. J/K

Reply by ewing2surf on 8/1/06 5:44pm
Msg #136542

Chase HELOCS and Swimming pool construction loans were the definition of Small Package Loan Signings.

Reply by ME/NJ on 8/1/06 6:05pm
Msg #136550

When a client states "small package" I say as long as its under 50 pages rate A is good if over 50 pages then it will be rate B.

Find out who the lender is and you should know if its a small package. Citi, BNY and Chase are small deals. Countrywide and World are the same size as a refi pack for there HELOCs.