Posted by DB/AK on 5/15/09 11:35pm
Msg #288645

Fax Backs

When you are asked to fax back to a signing company almost the complete loan documents that include the borrowers bank account routing numbers what do you do? I haven't been asked to fax back borrowers direct bank account information before. (Wire Authorization Form) I don't think it's right to do but I did take this job not knowing that I would be faxing back almost the entire loan packet. Anybody have any advice?

Reply by Susan Fischer on 5/16/09 1:14am
Msg #288648

Scan and email instead. Charge a fee. n/m

Reply by DB/AK on 5/16/09 2:27am
Msg #288650

Good answer Susan! Thanks! Duh to me!

Reply by Carole Breckbill on 5/16/09 8:35am
Msg #288659

The one I had recently automatically tacked on an extra fee for almost total faxbacks. Thought that was interesting.

Reply by Kay/IL on 5/16/09 9:35am
Msg #288667

I'm not sure whether that was a new company you're working with or one of your regulars, but the next time that happens, let the company know that there is a fee for faxing back an entire package. If it needs to be done, they will usually comply.

If it's one of my regular client companies and they are asking for just a couple of documents like the HUD and/or RTC, I'll do it free of charge. If they're asking for a whole slew of documents totalling 20 or more pages, charge them by the page.

Reply by MW/VA on 5/16/09 9:56am
Msg #288672

It's not just about the extra money for faxbacks. When I'm out running appts. it is a real PIA to have to make the time. I don't often get a request for that, TG. IMO, unless it's a purchase that needs to fund immediately there is absolutely so reason for it. This usually comes from companies that use sloppy notaries & they have to check to work before shipping.
I don't have the time to deal with that kind of thing.

Reply by Todd/OH on 5/16/09 5:18pm
Msg #288705

I agree with MW. It's a pain not to mention the time it takes to babysit the fax machine. The paper will jamb or the line will fail - and fail more than once. NOT worth it.