Posted by Dianna Boucher on 12/8/06 12:44pm
Msg #164806

At the table, LO calls to say fax back

Good Morning, I would like to know what to do when I have set the fee for the trip and signing to such and such and when I get to the borrower and we are sitting down ready to sign, the LO calls me and says that I will need to fax back almost the entire loan packet. (Nothing was in writing to fax back) The number he gives is not an 800 number. I told him I would charge extra which he didn't seem to mind but the company will not pay the extra. What to do? Also, got 147 pages of e-docs and some of these companies will only accept a certain fee. Then they also want you fax back half of the documents for your fee and it seems more and more of these companies want you to fax back the paperwork and won't compensate for faxing. What is a normal fee for fax back to be included? Especially when it's not an 800 number. Thank you for any replies

Reply by Lisa Prestegard on 12/8/06 1:45pm
Msg #164820

First of all, some companies are notorious for their fax-back requirements. I generally decline their offers of work. I tell them all up front that I will graciously fax-back 5 pages at no cost,(HUD and Sig. pg. of the Mtg. and Note perhaps) but anything thereafter is $50 per 25 pages. Period. Usually they say "forget it". Unless this is an investment property (or other circumstance where there is no 3-day RTC) and the docs are needed to fund the same day, they can usually waive the fax-back requirement.

Reply by Paul_IL on 12/8/06 3:33pm
Msg #164846

In this case just drop the package. You can call the LO and let him know that you have dropped the package because the company that contracted you refuses to pay te faxback fee.

I charge $50 for any faxbacks that are not required for funding. There are several companies that require faxbacks, Countrywide Full Spectrum comes to mind instantly. I always add an additional $50 to any CWFS. Companies that spring the faxback surprise on you at the last minute have no chance of getting a faxback from me unless I get a confirmation of the additional $50 fee. Normally they just say well go ahead and drop the docs and disregard the faxback requirement.

Reply by CaliNotary on 12/8/06 5:22pm
Msg #164880

I agree

When the LO said that they won't pay extra for faxbacks, she should have told him that if that was the case, nothing would be faxed back. Easy enough.

Reply by PAW on 12/8/06 3:59pm
Msg #164852

I would have informed the LO that he would need to contact the title company as they are the ones who probably contracted your services (either directly or indirectly). You have no idea who it is on the other end of the phone (meaning the LO), and I sure wouldn't want my personal information bandied about in a willy-nilly fashion. Just my 2¢ worth.

Reply by Becca_FL on 12/8/06 5:01pm
Msg #164869

Re: At the table, LO calls to say fax back Paul

"bandied about in a willy-nilly fashion"

Paul, I love it! May I use it? I'll let you use MoMo and JackBag.

I was behind a vehicle today on US 1 that banied about in a willy-nilly fashion...what a MoMo - JackBag! Snowbird season is open in Florida.

Reply by Lisa Prestegard on 12/8/06 5:09pm
Msg #164872

Becca needs a 'rita... it's Friday =) n/m

Reply by Becca_FL on 12/8/06 5:18pm
Msg #164877

A little later, Lisa. I've got one more job tonight. n/m

Reply by PAW on 12/8/06 5:17pm
Msg #164876

Re: At the table, LO calls to say fax back Paul

>>> Snowbird season is open in Florida. <<<

Where can I get my hunting license? What's the limit this year?

Reply by David Kral on 12/8/06 6:39pm
Msg #164886

Watch it PAW...those are my parents you are talking about. n/m

Reply by MistarellaFL on 12/9/06 1:40am
Msg #165009

There's no limit in Wrinklewood, LOL

They're like coyotes, a bounty of $10 per pair of ears, LOL, whoops, sorry.

Reply by Gary_CA on 12/8/06 7:16pm
Msg #164895

That's more than 15 words.

How bout

"Stick it in your ear"