Posted by Allison_Mich on 1/6/06 10:39am
Msg #86582

Countrywide calling me directly

I am scheduled to do a country wide closing today. They called me yesterday. I usually get their loans through a signing company or title company and charge $100.00 for e-docs. Should I keep the same fees?

Just asking for opinons. Thanks


Allison

Reply by cfwMI on 1/6/06 10:41am
Msg #86584

Where they out of Troy?

Reply by MeganCA on 1/6/06 10:42am
Msg #86587

I would charge a min of $150.00-250.00 depending on the loan.

Reply by Joseph Miller on 1/6/06 10:42am
Msg #86588

No I would charge more since you cut out the middle man. I would ask them how much they pay for that area and see what they say. you may be able to get $200 with edocs

Joe/NC

Reply by Brad_Ca on 1/6/06 10:50am
Msg #86595

I usually get between $175.00- $250.00 depending on the package. Countrywide is famous for faxbacks. That is ok, I just charge them for it. I have never had a problem with them meeting my fee.

Reply by SanDiegoCA on 1/6/06 10:57am
Msg #86600

I rarely see a package where the HUD doesn't give a notary fee that the BO is paying, and it's almost NEVER under $300 if listed.

I agree, no middleman needless SS, negotiate directly with the mortgage company, you may end up with more than you usually do from that HUD amount.

I have always been offered more from TC's and mortgage companies directly as well. As there is no middleman to pay they know the value of finding a good SA, and don't think they won't use you again if everything goes well.

I think the internet now makes it easier than previous years in finding SA's directly, with sites line this one and 123notary, no SS companies may be needed at all. (sorry SS companies, maybe it's time to adapt and overcome!)

Reply by RayWyatt_Cal on 1/6/06 11:03am
Msg #86604

I had they call me at 5:45PM for a 7:00PM signing last month. Said they were having problems finding someone to complete it for them. I said yes and to send the docs. No fee discussed. I was told he would have someone call me to set it up. 20 mins later a SS called to ask if I could do a signing for them. I asked about it and it was the same one CW just called me on. He was surprised to hear I already knew about the job.

Of course they started low balling me and I refused to lower my fees. The SS said they would try and get an approval.... (I know what that means) so I called CW back and asked why they called me and then sent it to a SS? The responce was, the title company is responsible to find and contract the SA.

If was odd to to me to have the LO from CW call and set it up then have the SS take over and ask me to work for peanuts....

I would say $200 when working direct.... JMO~

Reply by Anonymous on 1/6/06 10:51am
Msg #86597

Make sure you get paid! Been chasing them f/2 months.nm

Reply by Glenn Strickler on 1/6/06 12:01pm
Msg #86645

Re: Make sure you get paid! Been chasing them f/2 months.nm

I have never had a problem being paid from Countrywide when they have called me direct no matter what office I have dealt with, usually within two weeks of the assignment. Are you sure you invoiced them properly?

As far as rates when I am called direct? Way back, I ran a cost analysis and looked in general at what was being paid in the industry in my area and decided where to set my rates regardless of who calls. My rates are my rates and listed on my website. The companies know what it is going to cost before they call if they check my site. I don't charge more because I think I can get more. It's an ingegrity thing with me. I also don't negotiate downward (unless I am covering for a notary who wants to take a few days off or is overbooked. But like minds hang together and it's not much lower.) True, when I first began, I took some low paying assignments but I do stand firm now.

That being said, I am in a different position than others as I have other income and do not rely on notary income to pay the bills. So you have to do what ever works for you.

Reply by Tess/ME on 1/6/06 6:21pm
Msg #86752

Re: Make sure you get paid! Been chasing them

It took me 5 months to get paid from them. They are the one (or one of the ones) in Texas and they kept blaming it on their California office accts. payable dept. But I eventually got my money. Went through heck trying to get paid but I think I'd go that far again for $250. (not with Countrywide though)

Reply by LawrenceOK on 1/6/06 11:05am
Msg #86606

I have found that it is a better business practice for me to base my fees on 3 factors, loan type, document delivery and travel. My fees are the same for all companies regardless if it's a TC, Lender or SS. If they have an edoc signing 50 miles rt it will cost $x-amount .....

Reply by CaliNotary on 1/6/06 1:09pm
Msg #86688

Lawrence and Glen

Does your policy mean that you are charging TC style fees to signing services, or does it mean you're charging SS style fees to title companies?

Reply by LawrenceOK on 1/6/06 1:38pm
Msg #86703

Re: Lawrence and Glen

Actually Calinotary, my fees are in between what most would charge a TC for the same job as an SS. But most SS's still say "oh, we cant pay that much" to which I say BS (after hanging up the phone of course)

Reply by Allison_Mich on 1/6/06 2:34pm
Msg #86717

COUNTRYWIDE

Thanks All for your input. There was no amount for notary on the HUD he just told me to "invoice" him. There are a few fax back (the mortage and riders and escrow docs)/

Thanks again for everyone's opinion.

Reply by JM_NY on 1/6/06 6:40pm
Msg #86758

Re: COUNTRYWIDE/Allison

When you invoice them send a W9. I had to send one in before they would cut a check for me.