Posted by LarryTN on 5/22/07 6:25pm
Msg #191407

LSI email

Has anyone received this from LSI today"

"LSI would like to take this opportunity to thank you for your continued support and business. Our industry is extremely competitive; lenders must find the competitive edge and continue to look to LSI to reduce fees and streamline processes.



Our industry is changing and it is important that we clearly understand these changes. We need to reassess business practices to retain our market share. LSI continues to experience an increase in orders requiring loan document packages to be printed via email or internet. It is IMPERATIVE that our signing network understands the challenge and together we can make the necessary changes to reduce fees.



Printing of documents incurs additional cost; LSI has done extensive research and found that cost is between $11.00 and $13.00 when the documents are printed at a Kinko’s or Mail Box Etc business. The amount of $18.00 will cover overhead costs, supplies, equipment and utilities. We ask for your authorization to reduce your current fee for the printing of documents to $18.00.



In appreciation of this fee reduction, LSI will extend membership to our Fidelity EC Purchase Program. Membership will allow our partners to benefit and share in the rewards offered by industry leaders from technology and office supplies to hotel and gift companies. A partial list of some of these advantageous discounts is attached.



LSI believes our network will continue to thrive and relationships will be mutually beneficial working toward common goals. "

Reply by OnTheDot_CO on 5/22/07 6:30pm
Msg #191408

Yes, I just got it and I told them no. I have not raised my rates in 3 years even though the gasoline price has more than doubled

Reply by Lee/AR on 5/22/07 6:43pm
Msg #191413

OK, so Kinkos may be able to do it for that. I'm not Kinkos, but maybe they can get Kinkos to print 'em out & send 'em to us. They want convenience--they pay for it. What about my time? $5 doesn't cut it. I didn't see that factored in anywhere. Let's look at what they are saving, too, by having us print. Probably a person's salary, benefits, desk, etc., Lot less repair/replacement of equipment (oooh, yeah, what about that factor for us?) No overnight FedUp charges one way. And then there's that big problem they seem to have with the word "Profit", unless, of course, it applies to them. Just say "No thanks."

Reply by MelissaCT on 5/22/07 8:30pm
Msg #191462

Will Kinkos ensure there are enough copies of RTC/TIL n/m

Reply by Kenneth A Edelstein on 5/22/07 6:51pm
Msg #191416

I told them "Please put me on your do not call list"

18 dollars for edoc? The bank makes an average of over 100 thousand dollars, the L/O over 1000 dollars, title company a few hundred all on "our backs". 18 dollars is truly an insult - not worthy of their requested "explaination". It appears they consider our time worthless, and our many cell calls about late docs, rescheduling, and the frequent typos that we must fix to also be worthless. I feel sorry for those who, due to their dire economic straits, must bow to this most absurd form of notary exploitation. I choose to not explain or beg for a reasonable fee from LSI and would rather leave them to the desperate and beginning notaries.

Reply by LarryTN on 5/22/07 6:59pm
Msg #191417

LSI are you listening to these comments???

You are going to alienate more knowledgable notaries than you will be able to replace with those who do cheap closings, with major mistakes, costing you more than you will probably save!

Reply by LauriecPA on 5/22/07 7:03pm
Msg #191420

Re: LSI are you listening to these comments??? n/m

Reply by LauriecPA on 5/22/07 7:05pm
Msg #191422

Re: oops...What I wanted to comment on was

the list of discounts we were being offered for agreeing to lose more $$$$. Did anyone open it? What a joke! 10% off of hotels, we can all do better than that with a google search.

Reply by Charles_Ca on 5/22/07 7:47pm
Msg #191439

Will LSI require a background check for Kinko's employees? n/m

Reply by Charles_Ca on 5/22/07 7:50pm
Msg #191444

If LSI guaranteed me the volume of printing that Kinko's and

Mailboxes etc does and allow me to buy paper at the price of the volume users I might consider it but then they add additional requirements of notaries that are not expected of Kinko's.

Reply by BrendaTx on 5/22/07 8:00pm
Msg #191447

I have a theory about these things.

I don't believe that they care about the quality of the notary as long as they'll get themselves over there and get some of the stuff done to get the ball rolling.

I believe that's always been a factor in most cheapy ss's. They make a big deal about perfection and funding being held up by a botched certificate but when it all comes down to it, get most of the signatures and it'll be good enough for their purposes to hold things together til all the docs get in.

This is a cheap game of get the signature on the line...on the compliance agreement or the errors and omissions or even before the loan goes out to the borrowers in some agreement and then clean up the mess later.

If you have $250 alloted for a perfect signing, send a $50 notary out to do the job. If they do it right enough so that you can clean it up once they get it back, you have $200 left to pocket. Okay, what if you have to send a second notary out? Well...pay them $25-$75 for a few documents and you are still ahead by $175-$125. See how that works?

The only time I see real concern about good work is in the reverse mortgage LO set. They actually want it done correctly the first time. The rest of them which use cheap ss's will just nickel and dime each notary until they are done...and STILL pocket $100 of the alloted closing fee.

This is just a theory, of course.

Reply by Charles_Ca on 5/22/07 8:06pm
Msg #191450

Re: I have a theory about these things. Good theory Brenda! n/m

Reply by Stamper_WI on 5/22/07 8:11pm
Msg #191453

So lets test that theory n/m

Reply by jojo_MN on 5/22/07 8:55pm
Msg #191472

DITTO n/m

Reply by jojo_MN on 5/22/07 8:56pm
Msg #191473

Re: DITTO this was in reply to Charles post n/m

Reply by pan/nd on 5/22/07 10:06pm
Msg #191490

Larry,

Got the e-mail. Insulting, given the price of gasoline.

Deleted it.

My fees to them just went up $20...call it a processing fee.

Reply by jba/fl on 5/23/07 10:44am
Msg #191558

Excellent! Many times when someone won't meet my fee, has to

get 'approval', when they call back I raise my fee another $10-20 because they are just plain wasting my time with their garbage, and I feel that there is some risk of getting paid anyway. This is my business!

Reply by KathiAZ on 5/22/07 10:28pm
Msg #191493

$13 at Kinko's?

I once tried to get doc's printed at Kinko's when my printer was down, and it was a dollar a page! So I don't know how they came up with this price. Or else my Kinko's is way off.....

Reply by Kenneth A Edelstein on 5/22/07 10:47pm
Msg #191497

Re: $13 at Kinko's?

It's also a dollar a page in Manhattan. By the way >>> They will NOT use legal size paper in the 3 local Kinko's that I once tried to receive "a few pages". The times I have been asked to pick up docs at a Kinkos I always agree - with the sole condition that they are prepaid - naturally the signing/title/lender was unwilling to use THEIR credit card - so it "didn't happen". LSI did a "nice" analysis of our costs - I am left to wonder if they would "open their books" so we can do a similar analysis of their profits.......Perhaps the $13 was derived from a "fix it" set of just a few pages - ones where LSI's original "cheepo" notary signed as the borrower and neglected to: date, stamp, or fill in any names on the "notarization"...........It would be very interesting for someone to accept their edoc job, and later request them to send it to Kinko's (naturally prepaid) - and offer THEM a 13 dollar "credit" against your notary fee........

Reply by MistarellaFL on 5/23/07 9:07am
Msg #191535

Re: $13 at Kinko's?

You have to be real specific about what you want at Kinkos and UPS.
They will stick you for the "colored" printer (even if it's all B & W), unless you
tell them you want the cheapest copies available.
Usually about .07-.09 per page.

Reply by Glenn Strickler on 5/23/07 1:57am
Msg #191511

Next time the subject of reduced edoc fee comes up ---

just tell them "So, you are going to get the docs printed and overnight them to me then to save the edoc fee??

In my mind, the company that pays the edoc fee is not only paying for our time and materials, but for the convenience and time saved from not having to print the docs themselves and overnighting them.

Reply by FWP/WA on 5/23/07 2:46am
Msg #191515

Re: Next time the subject of reduced edoc fee comes up ---

Not too long ago, I had to resort to using Kinko's for a signing, due to the pages just simply printing too slow on my printer at home (not to mention the package being insanely big). They charged me 50 cents per page for the legal size pages to be printed from the file, then I took those copies, and went and made the 2nd copy at just .09 per page. In the end, it cost me right around $60 to get it all printed, and I vowed that I will never do that again.

So now I've worked out a deal to print them at work, and I reimburse him the cost of the printing. I pay for the paper, because we don't use legal for anything at work anyway. It works a heck of a lot better.