Posted by Tamika Freeman-Rivera on 8/6/09 6:20pm
Msg #299063

Newbie

I would like to know what about the different fees for the differnent doc. signing. ANy help would be of great help.

Reply by MW/VA on 8/6/09 6:25pm
Msg #299064

You might start with message 33325 using the orange search button. There is a wealth of information available if you take the time to research.

Reply by JanetK_CA on 8/6/09 6:54pm
Msg #299067

Exactly!

And once you've done your homework, if you come back here with specific questions that you've already tried to find answers to on your own, you'll likely get some great feedback. You'll also have much better questions to ask. The one you posed is way too generic for anyone to be able to help you. BTW, when people here recommend message 33325, I think it's fair to say that they mean to read the entire thread, not just that message.

Reply by aatatusko on 8/6/09 7:34pm
Msg #299072

Where are you in VA?

Reply by taxpro on 8/6/09 7:45pm
Msg #299076

Don't accept less that $350 for a single loan refi with edocs, or $275 with overnight docs. If you can't get anyone to pay those fees, you might want to research a little more. Try message 33325 for starters.

Reply by davidK/CA on 8/6/09 8:39pm
Msg #299082

Re: Taxpro

HA HA. That's one way to eliminate the competition.

If you are really getting those fees on a regular basis I pity the poor borrower having to pay them after the escrow/lender markup.

Reply by MW/VA on 8/7/09 8:26am
Msg #299115

Re: Taxpro

I took the remark as sarcasm, otherwise I'd be out of business.

Reply by Joe/NYC on 8/7/09 12:44pm
Msg #299152

Re: Taxpro

Why not just give the person some honest feedback...I personally never got any feedback regarding fees here...not sure what the big deal is.

Reply by MW/VA on 8/7/09 4:09pm
Msg #299180

Re: Taxpro

It is hard to give a direct answer to the question of fees. There are many variable--area, notary saturation, etc. While $100 might be an good fee in rural Indiana, it is not a good fee is Los Angeles, CA. I can only set my fees by what the market will bear, and that takes some research. If I, for example, set my fee at $200 I would not get any business. There are too many notaries in my area that would work for half that & less. I also don't recommend anyone, including a newbie, to take signings for $40 or $50.

Reply by HB/CA on 8/7/09 2:09pm
Msg #299169

I've seen and heard fees ranging from $75--$225. The less work you have to do, the less you should expect to be paid. For example: printing 500 pages of edocs, traveling 90 miles roundtrip, a POA signing, three signers, and 40 pages of faxbacks, you should negotiate a hefty fee. Whereas a one page loan mod. two miles away would be a much lower fee.
Feel free to negotiate what you can.

Know your cost of doing business and the value of your time before you negotiate. First find out what NSA's are getting in your state, then consider printing edocs (all your equipment involved not just actually printing), travel to the borrower's location, and faxbacks.

Read these boards regularly to gain information--research what you read here as well. Please keep reading this board and looking for information and maintain fees that keep your business profitable and our industry viable. Don't allow anyone to fool you into accepting lowball fees--that hurts all of us. Good luck

Reply by Joe/NYC on 8/7/09 2:26pm
Msg #299173

Great post, actually gives some guidance, and what someone can expect.