Posted by MonicaFL on 5/30/08 8:12pm
Msg #249422

SLB Signing

I received a call yesterday for a closing in Lady lake. i couldn't do it so I referred my friend. My friend called me almost immediately and told me that they were offering $50 for the closing and that Included e-docs. I just about threw up. Last year they were paying $125.00. Guess I learned my lesson and that is to ask what they are paying before I refer them to a friend (or anyone else, for that matter). Thanks for letting me vent.

Reply by jba/fl on 5/30/08 8:37pm
Msg #249423

OMG-that's preposterous! n/m

Reply by BrendaTx on 5/30/08 9:23pm
Msg #249426

Ain't it grand?

I have recently asked myself why I feel so negatively about signing services.

Now I remember.

This is pathetic.

Reply by John_NorCal on 5/30/08 9:42pm
Msg #249429

Re: Ain't it grand?

Isn't that some gal named Sherry that was making a big noise earlier this week about some signing for Provident?? She made mention that she appears to be the enemy on this board, with signings like this $50.00 thing she sure isn't making any friends here. If that's the best she can do maybe she should look into another business.
What an insult!

Reply by Therese on 5/30/08 9:28pm
Msg #249427

SLB don't they post in this forum?? n/m

Reply by Sylvia_FL on 5/30/08 9:43pm
Msg #249430

Are you sure your friend heard the fee correctly. Maybe it was $150?
I understood from a previous post by SLB the other day that their fees were fair.
$50 for edocs is far from being a fair fee.

Reply by BrendaTx on 5/30/08 9:47pm
Msg #249431

They charge $125 for overnight to $150
email for their service. (According to their
website.)

SURELY this is a mistake.

That would mean they were keeping
$100 of the fee...which isn't fair at all.

Reply by John_NorCal on 5/30/08 9:51pm
Msg #249432

I would hope this is a mistake.

Reply by Linda Juenger on 5/30/08 10:20pm
Msg #249433

Did a closing in March for Sherry. Far from $50 and paid in 30 days. No complaints here.

Reply by ZeeCA on 5/30/08 10:21pm
Msg #249434

Re: SLB Signing ~ Brenda

I was under the impression from the prev thread that is what they charge the tc etc so when i trickles down to the notary....................


i could be wrong.. it hap once before in 1843.....

Reply by BrendaTx on 5/30/08 10:23pm
Msg #249435

Re: SLB Signing ~ Brenda - you are correct Z

That's what I meant.

Reply by MonicaFL on 5/31/08 10:25am
Msg #249485

Yes, I asked her that very question after she told me what she was offered.

Reply by Teresa/FL on 5/30/08 10:39pm
Msg #249436

They offer $75 for overnight & $100 for edocs

for a standard refi.

They offer $50 for REO (bank/lender owned) purchase transactions. These transactions are cash deals and involve the buyer only. You print about 25-30 pages. I believe they receive $150 from the TC for these transactions.

Reply by Teresa/FL on 5/30/08 10:48pm
Msg #249437

and if you ask for more than they initially offer, they call

the TC to see if they will up their fee so they can keep their margin at $50. Most of the time the answer is no, so I don't accept much business from them.

Reply by lindetteh_PA on 5/30/08 11:40pm
Msg #249443

Re: and if you ask for more than they initially offer, they call

If they are receiving 150.00 and offering the notary 50.00 their margin is 100.00 and thats just completely unfair any way you look at it. I recd. a call from a different ss yesterday for a note modification she said it was a open time about 11 pages and after the closing I needed to fax all the docs back and they paid 30.00 I told her my fee was 50.00 (since it was close to me) and of course they had to call me back I think these ss need to understand the # of pages does not determine the fee (at least not for me) I was thinking I still need to block off the time possibly missing another appointment print the docs drive to the borrower and fax them back in my opinion 50.00 was a bargain

Reply by Glenn Strickler on 5/31/08 2:02am
Msg #249454

Re: They offer $75 for overnight & $100 for edocs

Those rates still aren't going to get it.

Reply by sue_pa on 5/31/08 7:53am
Msg #249458

Re: They offer $75 for overnight & $100 for edocs

...They offer $50 for REO (bank/lender owned) purchase transactions. These transactions are cash deals and involve the buyer only. You print about 25-30 pages....

So what does that have to do with anything? It's still an e-doc purchase for $50!!!!!!!! Anyone who takes these is crazy. AND, you still are printing - that means having the equipment available. $50 was overnight refis 10 years ago.

I did a reo cash deal earlier this week and it truly took 15ish minutes at the table - exactly the way it should be. I've also done them where it takes 2 hours due to 'miscommunication' between the title companies and the realtors - and those are not flukes but are a good part of the reo work I see.

A purchase is a purchase is a purchase (except apparently for CA). There is a tremendous amount of responsibility for the closer at the table to get it done properly then and there and not as I've seen so many times on this board ... just take the order and wing it.

I know nothing about SLB other than what I read on these boards but if she receives $150 for the order and the person in the field printing 'only 25-30 pages', getting in their vehicle and travelling to the closing and back, being sure the paperwork is properly executed, being sure everyone passes the correct checks across the table, fax backs (because HELLO, it's a purchase and funds same day so there are fax backs of the HUD and checks), and gets the package out same day because again (it funds) and pays that person $50 she deserves to be run out of business. If the fees are flip flopped, then that's a different story.

Reply by Lee/AR on 5/31/08 8:57am
Msg #249468

Re: They offer $75 for overnight & $100 for edocs

"$50 was overnight refis 10 years ago." 15 years ago, too. REOs are always problematic, for one reason or another. Waaaay too cheap.

Reply by Teresa/FL on 5/31/08 10:07am
Msg #249479

Sue - I agree, $50 is not a fair fee for a purchase

REO or otherwise. The number of pages printed does not automatically translate into the amount of time it will take to conduct the closing.

Purchases generally take longer to close no matter if there is a loan or not. Some of the cash purchases I have closed have taken much longer than ones where there is a loan involved.

Reply by dickb/wi on 5/31/08 9:59am
Msg #249478

i am doing a purchase closing on REO tomorrow and there is..

more than twice that number of pages and i am getting paid more than twice the figure stated and the people are comming to my office [ no travel].....i wouldn't close a pkg for any one for $50......my .02

Reply by MistarellaFL on 5/31/08 10:37am
Msg #249488

I did a purchase closing on REO last night... paid $150 n/m