Posted by las_CA on 5/25/06 3:09pm
Msg #122270

Fee Schedule - direct to the lenders/loan officers

Hi guys,

there are 2 loan officers that are giving me quite a bit of business. I've been charging them so much depending on the type of loan.

Within 30 miles, (one way) e-docs, refinance with two borrowers $xxx.xx

Within 30 miles, (one way) e-docs, purchase + 2nd $xxx.xx

If I pick up the docs/drop off the docs, $xxx.xx

Even though I"m new, I've learnt everythjing I can learn about these loans and give them my best service/attention. So far I've not screwed up any loans and the loan officers aren't unhappy about my fees.

I want to be consistant with the charges. They are both asking me to give them a fee schedule, so that they can have something to go by. Both have given me a few loan signings here and there during the last 2 mths and have been getting paid an average of 150 - 200 per loan. I've been pretty lucky. Do you suggest that this is a good idea to give them a structure rate chart...? Has anyone done this..? pros and cons...?

Thanks in advance.. Just looking for some opinions..

Las

Reply by Ellen Hodges on 5/25/06 3:17pm
Msg #122273

You should have a fee schedule

Reply by Lee/AR on 5/25/06 3:31pm
Msg #122275

New or not, Ellen is right.

Now is the time to invest some brainwork into your business. You already have a place to start with what they are currently paying you. Ya' happy? Or do you think a double is worth more than you're getting? It's your time, vehicle expenses, plus gas, paper, toner, driving that they are paying for... what's it worth to you?

Reply by Nicole_NCali on 5/25/06 6:05pm
Msg #122301

fee schedule..it takes away the guesswork n/m

Reply by TitleGalCA on 5/25/06 10:15pm
Msg #122351

You should know your fees so that it's not a huge distraction to quote them. If you take too long to quote a price, while someone is on the phone, it tends to suggest you're not confident about your value.

***I've learnt everythjing I can learn*** I hope you were just keyboard challenged with this spelling, and I especially hope that you don't seriously believe that statement.

Reply by CARID on 5/26/06 1:24am
Msg #122408

You should be getting that per loan. You are on the right track. And have a fee sheet to pass out and market to your title companies and lenders. This is a must !!!!