Posted by Jason on 10/27/06 7:00pm
Msg #155624

Poll for nsa's doing Reverse Mortgages

An LO I work w/ is being fed some bs from a TC about nsa's not getting $175 or more for RevMorts, eDocs.

The TC is saying something about HUD (agency not doc) requiring $150 or less.

If you do eDoc RevMorts, do you get paid $175 or more?

A simple yes or no answer would suffice. I don't mean to invade your privacy about exactly what you charge.

THX ! ! ! ! ! !

Reply by LkArrowhd/CA on 10/27/06 7:03pm
Msg #155625

Re: I do them and no I have not been paid $175.00 n/m

Reply by LkArrowhd/CA on 10/27/06 7:05pm
Msg #155626

Re: Heck I just got scolded for asking for $125.00 for

last minute e-docs by ss...........he states he's not making much and can go down a bit......I said NO

Reply by Raimond on 10/27/06 7:12pm
Msg #155628

Re: Heck I just got scolded for asking for $125.00 for

Only done one and got $100 for O/N docs less than 3 miles RT.
Took less time than some "simple one siner re-fi's"

Reply by LkArrowhd/CA on 10/27/06 7:32pm
Msg #155634

Re: Heck I just got scolded for asking for $125.00 for

Ray does the number you have jive with the number I listed below, this guy was such an A??
949-777-5500, I want to be sure and add them to my no no list

Reply by Raimond on 10/27/06 10:32pm
Msg #155670

Re: Heck I just got scolded for asking for $125.00 for

No Susan, this wsa 951 area code

Reply by Chris_OR on 10/27/06 7:22pm
Msg #155630

I've been paid $250 for Reverses structured as:

150 Loan
25 Trip Fee for miles.
25 e-doc
25 fax back required for security docs

I think there are some TC's and SS that no matter what fee you quote - they will try to negotiate a lower fee. If I'm busy with orders - I tell them I'm sorry, but the fees I post in my profiles and on my website are what the fees are. I then wait for them to accept or decline. I'd say about 60 percent accept my fees and about half of the ones who say they can't - end up calling me back within the hour with the order.

Reply by Scott_IN on 10/27/06 7:25pm
Msg #155631

I did my 1st one Wed, Edocs, got $125 n/m

Reply by Jeanne/ca on 10/27/06 8:55pm
Msg #155641

$150 n/m

Reply by Ronnie_WA on 10/27/06 10:41pm
Msg #155672

If they are within 20 miles, I do mine for the "or less" as they are usually elderly people strapped for funds.

Reply by BrendaTx on 10/28/06 12:14am
Msg #155689

Re: Poll for nsa's doing Reverse Mortgages - Ronnie

**If they are within 20 miles, I do mine for the "or less" as they are usually elderly people strapped for funds.**

Ronnie, please enlighten us on how this benefits the elderly people if you go less on your fee?

IMHO, someone is playing you. Okay, I could be wrong about this but I seriously don't think that a red cent comes off that HUD or is added to it based on what you are going to charge.

Seriously, can you imagine anyone in the TC or at the lender saying, "OMG, the notary is only charging $75! We expected $150. Credit these people back with $75!"

Reply by sue_pa on 10/28/06 7:57am
Msg #155712

unlike many others, I'm not fond of these and have found them to be 'labor intensive'. I don't do many but my fee is the same as a purchase - $200+ due to the total inability to judge a time commitment

Reply by Barbara O on 10/28/06 9:10am
Msg #155720

THe most I have ever been paid for a rev mort was $175 but I have never traveled very far when doing one. Normally I get $125-$150. I have never taken less than $100 thought due to the fact that they are usually time intensive.