Posted by snoopdogMs on 3/17/08 6:08pm
Msg #239590
Mileage consideration
Will a title company call the lender for more $ if the closing is 90-120 miles away to compensate for the added cost to the notary? Or does the title co. absorb the cost and make less profit?
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Reply by Sandra Clark on 3/17/08 9:19pm
Msg #239626
My title companies have the final say in what they will pay me - never had a problem getting extra bucks for that distance. I quote it up front - they either pay or I suggust they get another notary closer to the location of the signing. Only rarely do I have a problem as we are rural and title already knows that when they call.
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Reply by Cari on 3/18/08 7:12am
Msg #239661
same here, never had a problem with getting extra $$...
I've not had a TC client who wouldn't pay extra $$ for extra mileage. Some have even paid me extra on top of my quoted fee, without even telling me.
Some of the SS that call asking for the same fight tooth and nail NOT to pay extra and that is frustrating.
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Reply by CopperheadVA on 3/18/08 8:06am
Msg #239670
I'm not sure that was what snoopdog was asking...
I think the question was: Does the TC absorb the additional cost they must pay the notary for mileage (thus TC making less profit on that closing) or do they ask the lender for more $$ to cover the additional cost?
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Reply by snoopdogMs on 3/18/08 11:35am
Msg #239686
You are correct Copperhead n/m
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Reply by Vince/KS on 3/18/08 4:52pm
Msg #239723
Travel fees
I've recently seen it handled three different ways. 1. the TC includes the whole amount on the HUD with separate line item for the Notary. 2. the TC places the standard $$$ fee on the HUD and the mortgage company like one above, but pays the difference for the travel fee (but confirmed by TC that all will be paid). 3. lastly the total fee is agreed to and paid either as a total or breaking out the travel fee portion within the confirmation (and no special line item on the HUD). There are probably more variables than this.
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Reply by snoopdogMs on 3/18/08 5:00pm
Msg #239724
Thank you Vince n/m
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