Posted by Tracy_ME on 10/16/06 8:16am
Msg #152751

Payment Question

I did a signing on 10/3. I was listed on the hud. I still have not received a check. I am beginning to think I have been had...

When I accepted this assignment, I was told no fax backs. When I got back to my office I was told the ENTIRE package had to be faxed back. I was Pi55ed. They were insistent. I faxed them 79 pages and a bill for $79.00. The next day I was told that they would have to get a new hud signed by the borrowers due to my increased fee. OK . I was not asked nor did I offer to make another trip w/new hud. This signing was 204 miles round trip.

Honestly, I think that the SS should have to eat the Fax back fee due to their less than honest approach regarding the fax backs. I quoted a very fair price. If they had been upfront about the fax backs, I would have negotiated a higher price but probably not $1 per page.

I contacted the SS last Wed. I was told the checks were going out Wed and I could expect it Thurs/Fri. It's now Monday and no $$$.

Is it too soon to expect payment?

Reply by hcampersFL on 10/16/06 8:19am
Msg #152752

I would say it is a little to soon. If they had to get a new HUD signed then you may have to wait a few more days than usual. If you haven't received it by the 20th then I would be concerned.

Reply by Charm_AL on 10/16/06 8:24am
Msg #152753

in my own experience, most SS's cut checks twice a month. Most TC'c cut more often. I would wait the net 30 days. Some of these companies take up to 60 days to pay, then you must chase them around for your money.

Reply by PAW on 10/16/06 8:30am
Msg #152754

If you're on the HUD ...

... checks are cut at disbursement. If ME is a table funding state, like most states, then all settlement checks need to be cut upon disbursement of funds at the end of the 3-day RTC, if there is one. This would include your check. If ME is an escrow state, such as CA, then disbursement typically follows a day or two after the 3-day RTC since other requirements must be met before final disbursement of funds and proceeds.