Posted by Charm_AL on 3/1/06 8:40am
Msg #100862

dilemma...

I received and o.n. pkg and went to the signing and proceeded with the HUD. Not happy, not what they thought they were getting back. Interest rate was higher than they expected. Mortgage figure wasn't right.
Broker on the phone trying his best to explain, not working, he told them the figure on the mortgage was hypothetical and that's when it was done. I packed up, left their copies with them because the broker had to get ahold of someone else...yada, yada. I was there for 50 minutes and an hour rt drive.

I get back, plan to bill the TC for the complete fee.

Here's what I don't feel right about and if it isn't what can I do?

Several hours later the borrowers calls me and says they got it straightened out and would I please come back that evening. groan...I told her I'd call her right back and got the broker's number.
So I call the broker and confirm that they know everything and are ready to sign. I asked her, when she asked me if I could get back out there, I could but how do I get paid for the second trip? TC closed of course.
After going around for several minutes, she tells me, well they need to be signed tonight, if you can't make it they can be signed tomorrow (after I talk to TC about fee) but they need today's date.
After I explained my business practices, she says well fine, I'll call the borrowers and tell them that they have to give you your fee tonight because if the docs are redrawn they will have to pay twice that amount to the TC.
She calls me back and says they agreed to give me my fee.

Thinking on this, I don't know if what the broker did was ethical. Wouldn't THAT be a first?
I would assume that since the broker did not fax them the final HUD and so on that they asked for and were surprised with this pkg and the higher interest rate, that the borrower isn't responsible for paying my fee, plus what they've already paid. Even though no figures were changed and the broker spent half an afternoon explaining away and they accepted this loan, it still was not what they thought it was.

Does this make sense, have a message in for the TC, but I want to be sure about what I say before jumping on a soap box....thanks

Reply by Rick_NY on 3/1/06 9:11am
Msg #100878

If I understand your question:

I don't think the borrowers are responsible for paying you a trip fee, unless it is somehow disclosed on a new HUD. That is the lender's/TC's concern, especially if the lender effed up the closing figures.

Also, I have never seen a borrower being charged a "re-draw" or "re-close" fee (and I just did a re-close this morning at 8:00am.

Is the lender going to reimburse them your trip fee? Maybe that makes a difference.

Hope this helps.

Reply by Karen_FL on 3/1/06 9:13am
Msg #100880

I absolutely hate situations like that. Most of those situations, the SS and TC think that I should have stayed while it was being worked out and my leaving was my choice so I should go back on my own dime. In one situation, I was on my way to an appt but a LO for another appt begged me & offered me an extra $50 out of his pocket to close his loan first. I called TC and was told the docs were being sent momentarily so I changed my course (I have mobile office). After waiting in front of the home for docs for 45 mins, I decided that I should go close the other loan and come back. When I came back, I had docs but the borrowers were in a meeting and told me to come back. I had to drive 45 mins to get to my next appt. Closed that loan and then drove another 45 mins back. When I finally sat down with the borrowers, the interest rate was wrong much higher than promised and they refused to sign. After all that, I was paid $50 for a no sign and the LO never gave me the $50 he promised. I lost money on that one and no one cared. It was the TC that promised me docs they were not sending and then told the SS that I lied about not receiving them on the 1st trip. Had I received them, I would have printed them then but instead I spent my whole night driving back and forth on toll roads for $50.

Reply by celeste/ca on 3/1/06 10:26am
Msg #100924

So what you are saying is the loan offficer told the borrowers to pay you for that 2nd trip only, or did they pay you for both trips? What is scary is that if the borrower paid you for both trips, most likely it will still be taken out on the hud and now they will have double paid, probably not even realizing it. If the case was they did pay for both trips, I would contact the TC and let them know just so the borrowers don't pay twice.

Reply by Charm_AL on 3/1/06 10:48am
Msg #100932

What I'm saying is that the broker made the borrower pay for my second trip at the signing, with the threat that if the docs were redrawn, it would cost them another TC fee which was twice what my fee was...

I just never had this happen before and wondered if that was ethical on their part.
I feel the borrowers already paid this fee on the HUD and were overcharged based on my earlier post.

Reply by closingpro on 3/1/06 10:54am
Msg #100935

Was it a local or national title company? I don't feel like it was un-ethical on your part to ask for the fee. I would like to know who the lender is, because I don't like doing signings for company's that don't communicate to their clients before the closing. Kind of a notary beware...thing.

Reply by AngelinaAZ on 3/1/06 10:51am
Msg #100933

YUK! I would not want to be in your shoes for this one. I would try to make sure the borrowers were re-imbursed. I have had a similar situation backfire. The TC wanted the borrower to pay for a second trip... it was an extra $75 on top of the fee. (Farther away). They didn't want to. So the TC put in on the HUD but it was another $200. It raised the Notary Fee to $400 instead of $200. I only got the original fee $150 plus the $75 and the rest went to the SS... the borrowers would have saved $125 if they'd have paid me.

It was the LO and TC's mistake in the first place too!