Posted by Tish/CA on 11/30/07 10:25am
Msg #223739

Frustrated with no - sign fee

Got a call yesterday afternoon from a SS I'd never worked with before. They agreed on my fee and edocs were ready so I was totally thrilled about that. It's usually hurry up and wait! Set up appt, drove the 45 minutes (in the mountains, at night), sat at the table for close to 90 minutes while their LO tried to back peddle, etc, etc. It was a total waste of time - the numbers weren't even close to what the BO anticipated. 2 sets of no -sign docs in hand and another 45 minute drive later, I called SS and was told, sorry, we can only cover the $25 printing fee. It's times like these that I really wish our industry had standards. Ughhhhhhhhhh!!

Reply by Sylvia_FL on 11/30/07 10:30am
Msg #223741

I think we need to know which companies only pay a "printing fee" if it is a no-sign.

2 sets of docs? 2 loans? and only $25 printing fee.

I would invoice the SS for your full fee. It is outrageous to expect a signing agent to spend all that time and not get paid.

Reply by Cynthia/CA on 11/30/07 10:37am
Msg #223743

They should at least pay a travel and print fee.

Last year, I had a signing in the San Bernardino mountains. Lovely area, but talk about dark & scary at night - I empathize with you.

Reply by Tish/CA on 11/30/07 10:48am
Msg #223750

Cynthia - thank you for your empathy. Most SS and EO's, etc. are clueless and when I tell them of the conditions at night in the Sierras. BTW - it was 1 set of docs, sorry, I was confusing.

If I do invoice them for trip and print, isn't it a moot point? I attempted to neg last nite with SS but they held firm.

Reply by janCA on 11/30/07 10:56am
Msg #223753

Although I think when an SS states this is their policy, it stinks. But ask about this when you accept the assignment. I turn these down unless they send a confirmation stating they will send agreed-upon fee whether borrowers sign or not and there are too many "NEW" SS's popping up at an extremely dismal time in this industry. I just don't trust them.

Reply by Loretta Reed on 11/30/07 11:20am
Msg #223761

I turn these down daily. I am not going to drive up to 90 minutes one way and have the borrower decide they are not going to sign and then drive 90 minutes back and have them offer me a beggers fee of $25 or even 1/2. My fee is my fee. There is one company that I will accept a trip fee (1/2 fee) for but I am their "exclusive" closer (if there is such a thing) but it has to be a local closing.

Remind yourself to ask, ask, ask before you accept.

Reply by Negrete on 11/30/07 11:18am
Msg #223758

Call the SS and tell them that you are going to call the Title Co and ask for a full fee there. I would just about guess that they will sing a different song when you tell them this.

Reply by docs1954CA on 11/30/07 11:22am
Msg #223762

I have a very simple form I send them that states that I will be paid in full for the closing no matter what. Refusal at the table,cancelled after the signing, or the lender refuses to fund.If they reply that they agree to it, we're good, if not they can find someone else to work for free.I always get this in writing, a verbal agreement isn't worth the paper it's written on.

Reply by CopperheadVA on 11/30/07 11:33am
Msg #223768

What do you do if they do not respond at all to your form? What percentage of companies actually reply with a yes? I'm just curious to see how successful this is - I've thought of doing it but didn't think the TC's and SS's would go for it.

Reply by RickinVA on 11/30/07 11:47am
Msg #223771

Note: This email confirms our fee agreement made by phone
and the price quoted is the fee agreed upon by both parties
and is not subject to arbitrary reduction or increase by either
party. Your invoice will be for the amount you agreed on...
no exceptions. No Show, No Sign or No Fund all receive Full
Fee. If this is not agreeable with you please cancel this order
immediately before documents are printed. Please acknowledge
receipt of this email so I can print the Documents when they
arrive.

Reply by docs1954CA on 11/30/07 11:57am
Msg #223776

I would have to guess on the number of times they haven't agreed to it, perhaps 20% of the time they come back with their offer of print and travel, maybe 50% of the agreed upon fee.There are several factors I consider for a print and travel only fee; distance and the size of the package come to mind.If the borrowers exercise their RTC, then the full fee ALWAYS.

Reply by Dennis_IN on 11/30/07 12:04pm
Msg #223779

Rick,
This is an excellent way to have TC/SS acknowledge that they have contracted our time as well as our skills to close their loan. I am going to start doing this. I am currently dealing with a company that refuses to pay my fee after driving 1 hr. each way and spending 45 min. with an irate borrower. They don't even want to pay a trip fee!

Reply by LKT/CA on 11/30/07 11:54am
Msg #223775

The no-sign, no-show fee has to be negotiated along with the signing fee. It's up to you whether you charge full fee or a "convenience" fee for your time and gas. I charge $75 for no-sign, no-show. If the SS doesn't agree to ALL of my terms, they can call someone else. Gas is too expensive and my time is even more expensive than gas ;-)

Reply by KKinNoCal on 11/30/07 12:03pm
Msg #223778

Re: Frustrated with no - sign fee (more no signs this month

than usual) I just tell them to pay my full fee, or we will let the small claims judge figure it out. We are there to witness-we are not working on commision!! I had one of those Countrywide signings w/ tons of fax backs, split the package and make copies cancel- --and she does not want to pay--yeah right!

Reply by Tish/CA on 11/30/07 1:02pm
Msg #223793

Thank you for all your input and advice. I love this site. My backbone has taken new form!!

Reply by pan/nd on 11/30/07 7:34pm
Msg #223838

Trish,

Save your backbone and frustration.

The answer is simple.

Call the borrowers before you print docs and open the garage door..and go over all the terms and the HUD.

And when they say everything is wrong...YOU DON'T GO.


Case in point: I had to drive 100 miles one way today. No way in He## will I drive that far

only to have the borrowers say they won't sign.

I got on the phone and went over terms..HUD and payment.

THEN AND ONLY THEN did I print the docs and fill on gas.

There are those who think what I've just said is wrong.

They're entitled to my opinion as are you.

But, I've played the game from both sides and there is a heckofa lot less trouble and frustration if a phone call is made.

Except for the one time it happened to me, I've never had to deal with the issue again.

I will admit I don't go over stuff on local loans...only the long haul ones like today.

Reply by DianeCipa on 12/1/07 11:26am
Msg #223878

Pan/ND - With no industry standard in place, I think that's a wonderful practice.