Posted by RickinVA on 7/27/06 1:29pm
Msg #135558

Selling the loan

Just called a borrower to confirm an appointment. He said he is not sure if he will
take the loan or not. He has some issues with the amount of cash he will get and
he said the loan to value changed from 90 to 80 %. He also wants to look at the papers
before he decides. The confirmation said the SS would only pay ½ fee if the loan doesn't
close. I sent back a reply that I was not going to block out the time for a borrower
who wasn't "sold" on the loan for ½ fee.
What is the concensus here?

Rick

Reply by Jersey_Boy on 7/27/06 1:35pm
Msg #135561

There are some (and that means VERY FEW) companies that I will work for that only pay trip fee's if the loan does not get signed.

Personally, if I were in your situation, I would have called the company back and told them your concerns after speaking to a "wishy-washy" borrower, and request a "full fee no matter what" confirmation to be sent over before going anywhere. If the company is unable to comply, I'd tell them to find another notary who doesn't need to work for a living.

Reply by Brescia Mobile Notary on 7/27/06 1:38pm
Msg #135565

RIGHT ON JB! (high five!) n/m