Posted by laurielnc on 7/12/10 8:06pm
Msg #344686

Finiti Title sign up question.

I received a request by phone to sign up with Finiti Title. Then at the end of the phone call she told me that all signings are e-docs and $90.00 and they don't give more for travel so how far do you go for $90.00? Not far. Well, today I did a signing for another signing Company and the title co. is Finiti and I got $125.00. Something not right? Cut out the middleman and only pay $90.00? I held on to the "Engagement package" and was going to cross out the $90 and put in my rate. Don't know if I want to work for them if they are cutting the rate that much. Anyone else work for Finiti through a signing company? Finiti is in Columbia MD and they have all the same info of company I just sent docs to.

Reply by Les_CO on 7/12/10 8:21pm
Msg #344687

Have you seen the many posts today about people SURPRISED that this or that company isn’t paying/answering the phone/e-mail?
You are loaning these companies your work/time/expertise/equipment and supplies. If you don’t KNOW them, or don’t TRUST them. DON’T work for them! And if you do……Do it on your terms! It matters not what someone else charges, or what ‘they’ would like to pay. Your work = your terms!

Reply by Linda_H/FL on 7/12/10 8:52pm
Msg #344696

Re: Finiti Title sign up question...I got it today too

Haven't had the chance yet to read the signup package but I can't do e-doc closings for $90....will look it over when I get a chance but I want to do some research on them too - little birdie in me memory banks is telling me there were some reports of payment issues - want to check it out first.

Reply by MW/VA on 7/12/10 9:11pm
Msg #344699

I was surprised by their cost-cutting approach as well, but it seems to be happening all over the industry. I also did work for them through an ss, and brought up that I wouldn't undercut that company. I decided to give it a shot, because I need to stay in business. There's been a major slow-down, and this seems to be the name of the game. There are other tc's paying under $100 also. I know that they're bidding work, which we all need. My business decision is not to lose business over $5 or $10. I'll give it a shot. I did one for them & was paid promptly--just a little over 2 weeks. Everything I've seen from them is Citibank packages, which are pretty simple.
Again, it's a business & personal decision. I can tell you that is about as low as I'm going to go, however. I do not take the $50, $60, $75 jobs & will find other work before I do.

Reply by Les_CO on 7/12/10 10:20pm
Msg #344704

Don’t forget to tell the other ‘good’ Title Companies and SS’s when they call you, that you now will do a e-doc refi for $90. Since you are being so helpful, and lowering your price to their competition, it’s only fair that you lower your price to them too.

Reply by CopperheadVA on 7/13/10 5:24am
Msg #344715

Les, I'm with you. I got a call last night for a Friday signing. This was a different SS that called (not Finiti). I told him my very reasonable fee and he countered with a fee that was $25 less. We could not come to terms. It killed me to turn down business since it's been so slow, and this company has a good rep in SC, but if I take it for what he offered, then $90, $85, and $75 edocs will not be far behind. I've already lowered my fees from what I used to get just two years ago - there's a limit to how low I can go and still have this job be worth doing.

Reply by MW/VA on 7/13/10 8:06am
Msg #344721

That doesn't necessarily hold true. That's why I have always negotiated instead of having one set fee (even though I do have a minimum). What used to be a fair fee (more when working directly with a tc) doesn't hold true any longer. Criticize if you want, but I need to maintain some cash flow. In my area if I turn it all away it will just go to my competition. That's why I'm in business for myself--it allows me the flexibility to "go with the flow". Do you think it's any different from many business out there where people have had their hours cut, no raises, etc.
& don't have any say in the matter?

Reply by C. Rivera Chicago Notary Services on 7/13/10 5:24am
Msg #344716

They have been trying NOT to use SS for a while now, and

you would think, you'd get $125 or more by working directly with this TC, but nope, not with this one.

This is probably one of the rarest cases I've seen, where its somewhat beneficial to stay with the SS that hired you because you get more $$$ versus working directly for the TC.

Though this is not common in this profession, keeping the middle-man in this case, is an obvious perk.

Reply by CopperheadVA on 7/13/10 5:28am
Msg #344718

On search, there are a lot of comments about objections to Finiti's sign-up package.

Reply by Michael/NC on 7/13/10 8:04am
Msg #344720

I to have done signings for Finiti thru signing companies at a higher fee than $90. Item 12 and item 17 of their sign up package are ridiculous:

12. You agree to review the Lender’s closing package to ensure that the documents included
in the package exactly match those listed on the Lender’s checklist. If there are
discrepancies, you agree to contact the Lender for problem resolution. In addition, you
agree to initial the Lender’s checklist to acknowledge the successful review of the package,
and to FAX the acknowledged checklist to Finiti immediately following such review.
17. You agree to accept loan documents via electronic mail (e-Docs) and agree that you will print two
(2) copies of the loan documents, have the borrower execute both copies, and courier* one
original copy to Finiti.

Borrower sign both copies--that is like doing double signings--and for a reduced fee. I don't think so!!

Reply by MW/VA on 7/13/10 8:08am
Msg #344723

I don't do any of that.

Reply by RedBaron/IN on 7/13/10 2:27pm
Msg #344781

I signed their program. Agreed to do 3 closings. One cancelled. One changed the time and day. The third is still on schedule.