Posted by Notary_OH on 12/26/06 9:33pm
Msg #167768

Question about Countrywide

Over the past couple of years I have done many dozens of Countrywide closings for LSI. Print docs, one or two notarizations, then overnight back to LSI in Coraopolis, PA.

Last week I did a "Countrywide Full Spectrum" through "Advantage Document Services" in San Ramon, CA. The loan packge was identical to all of the previous Countrywide (LSI) packages. But 30+ pages to fax back. And then make copies of some docs and overnight to two locations.

Why the difference?

Reply by Susan Fischer on 12/26/06 9:51pm
Msg #167769

LSI West has it together. One hand knoweth not what the

other doeth...

All that faxback frenzi...and split package falderol...all that clerical work...

All of that, when there is a better way...(see) LSI West; huge volume & good planning.

Boggles the mind, but there it is.

Reply by ZeeCA on 12/26/06 10:22pm
Msg #167775

i did a piggyback 1st and 2nd and it was my first cw for this s/s company and got an eyeful when i got it as they were not exactly up front w/ all it entailed.

I felt I did two complete signings as not only was everything duplicated but I had to fax it all over the place to get paid with a refusal to pay for the extra service/time.

the s/s argued i was being extremely difficult as there were tons of notaries willing to do it for half of what they paid me.

I have done plenty of CW loans and NEVER had to jump thru hoops like this....

Reply by cara on 12/26/06 10:29pm
Msg #167777

From my experience, this is SOP for Advantage Docs in California.

Reply by John Temblador on 12/26/06 11:33pm
Msg #167785

I just did a signing and docs were split and I charged $150 plus $20.00 for faxback. It was my first for having to split docs to loan and title co. After I faxed and split the docs and copies accordingly, I will for now on charge $50.00 for faxback and split docs also along with my $150.00 fee. Advantage Docs Manager has kept in touch throughout the process and has said they pay in 30 days. I will give them the benefit of my business unless actions from that company speak otherwise. Communication and action a plus in my book!

Reply by Margaret_FL on 12/27/06 8:51am
Msg #167814

I have done literally hundreds of these CW, split and sent back to CW and Title with faxbacks. I charge $50
extra for these. I do so many that Title had me a Kinkos charge card made for me. I go to kinkos, make the required copies, Title has to have original Mortgage, riders and CW has to have 2 Certified Copies of mortgage. Regular copies of everything else. I charge the copy and fax cost on the FEDEX Kinkos charge
card. I did one Friday where there were 3 signers and only two showed up for the closing. The third signer I had to go meet at a McDonalds that evening and I charged them another $150 for the second trip out. This closing was overnight docs so I made a total of $350 for this one. I did another closing while waiting for the 3rd signer on the other one.

Reply by Alice J. Bennett on 12/27/06 10:06am
Msg #167824

Hi Margaret;

I am fairly new only doing signings for about 1 yr part time. I have done CW, I only charge them 125 - 150 and I travel long distance for them. They always want so many pages fax back to them and some splits? I never knew that I could charge for that? I really don't know what to charge them or any company...is there a break down? Could you give some advise seems you are very good at this? I will be doing this full time now....Lost my day job. I am reading here some of the peoples comments...wow they are working lots...I want to be like you guys...Need to work, singal mom...child college bound next yr....Please Help!!!

Thanking you in advance!!!

Reply by Alice J. Bennett on 12/27/06 1:23pm
Msg #167848

Re: Question about Fees???? n/m

Reply by Alice J. Bennett on 12/27/06 2:45pm
Msg #167856

Re: Question about Fees????

Can anyone tell me what is fair when it comes to fees...new at this, feel I am not pricing myself fairly??? Thanks

Ref? 1/2 Mortgage/splits/fax back? don't know??? I have never asked for splits/fax backs I thought that was included in the org. fee?

Thanks

Soon to be full time SA.

Reply by BrendaTx on 12/27/06 3:02pm
Msg #167857

Re: Question about Fees????

Dear Alice –

IMHO, the best thing you can do for your business right this minute is to start reading the archives. Locals (to you) might not want to tell their bottom dollar and have you undercut them…not that YOU would, but many people do. You may not get a straight answer to this one. Read the archives … just start scrolling backwards and doing searches. You'll get a feel for why you might have to learn this info on our own...even though you are a single mom. MANY of us here have been single mothers...many of us have lost our jobs in the past.

We all feel your pain, but you're going to have to do some research on your own.

Reply by Brenda_CO on 12/27/06 12:14pm
Msg #167839

Countrywide signings

John and others.....do you have an email address, or other, that I could apply directly to Countrywide? I have done tons of their loans in the four years I have been NSA, but always thru other companies. TIA

Reply by Joan_OH on 12/26/06 11:46pm
Msg #167786

Usually if it's Countrywide it does not require faxbacks. Countrywide/Full Spectrum in my experience does. Also requires split packages. I ALWAYS ask if it is a Full Spectrum and price accordingly. They will tell you it's a Countrywide and leave the fact that it's a Countrywide/Full Spectrum out and you won't find out until it's too late.

Joan-OH

Reply by Nicolle on 12/27/06 8:00am
Msg #167806

I worked for Countrywide for 6 months a few years back and the difference between the two entities is that Full Spectrum Lending is the subprime division of Countrywide. It is a different entity and has completely different processes and procedures.