Posted by LynnNC on 5/4/10 12:10pm
Msg #334796

New Millenium Title Group

I have handled many closings for Lindsay Guertin at the Maplewood, MN office. I received two calls last Friday from different offices, and the callers said that she was no longer with them effective that day. I accepted 2 closings and when I received the confirmations, there was an Instructions to Notaries section that indicated that I had to fax ALL the documents (B of A) before dropping docs. I had been faxing about 20 pages in the past, and they want to pay the same fee to fax the entire package.

Reply by Linda_H/FL on 5/4/10 12:17pm
Msg #334797

Yep...not new....Msg #316031 n/m

Reply by LynnNC on 5/4/10 12:38pm
Msg #334803

What is new is...

..that ALL the documents need to be faxed back - 100+ pages...in the past it was just about 20 pages of critical docs.

Reply by Moneyman/TX on 5/4/10 12:45pm
Msg #334806

Did you immediatly contact them about increased fax fees? n/m

Reply by Moneyman/TX on 5/4/10 12:43pm
Msg #334805

Increased my base fee for ANY BofA loan to cover costs

regardless of the company. If they are not requesting fax backs, they still have the outrageously large packages. I just quote a BofA signing request assuming they will have 200+ pages and 40 pgs of fax backs. If they need more faxed back then I add additional fax back charge.

The loans take longer (if not for the number of pages alone) to close. Faxing back involves time to actually fax, pulling the docs, and a return trip to my home office.

It's just business. You want more of my time, you should pay for it. BofA, TC, & SS people don't work for free, don't ask me to.

Reply by Linda_H/FL on 5/4/10 12:51pm
Msg #334807

Do you have to wait for approval?

I just had a BofA purchase of new construction on Friday...133 pages - 36 pages of faxbacks for funding number.. I was allowed to pull required pages up front and get them signed first and fax while completing package - faxed from site (dinosaur of a fax machine - had to fax in two shifts..LOL) -

All in all went well and pay was really good too...so I was not put out on this one..

Am actually looking at small portable fax/copiers to accommodate these (ssshhh...don't tell my husband, he'll kill me...) ...if I can plug fax into borrowers' phone line (or figure out tethering) I can then accommodate partial faxbacks....not sure whole package would be feasible.

Just random thoughts.

Reply by Moneyman/TX on 5/4/10 1:04pm
Msg #334811

Re: Do you have to wait for approval?

"Do you have to wait for approval?"

Sometimes yes, sometimes no. Sometimes - "Oh we can't do that."

No big loss for me in the last case. I stopped accepting any Countrywide loans over 3 years ago because (regardless of the SS company) 96%+ of orders had either late docs (some not even in until after scheduled apt time), incorrect figures on docs, incorrect loan types on docs, or incorrect names on docs.

The last one I accepted had 2 different loan pkgs mixed together (2 different borrowers). And neither pkg was complete. One for BO in CA (property and signing) and other was mine in TX.

Since BofA bought Countrywide, 45% of the assignments I have accepted have had late docs and one pkg. with over 200 pgs. I used to have no real issues with BofA loans before they acquired Countrywide.

With all the issues, I can accept 2 other assignments for the time involved in one BofA loan. Therefore, if they accept then I am compensated, if they don't accept, no headaches for lowering my fees to get the job and time available for other assignments.

Reply by Linda_H/FL on 5/4/10 1:33pm
Msg #334816

I forgot to mention...and it's odd since I thought it

was a BofA requirement - this was NOT New Millenium Title - so only 36 pages of faxbacks .... wonder if it's a BofA thing or title company specific...

Also still wondering if this is a result of bad notary work in the past....just a thought.

Reply by Moneyman/TX on 5/4/10 2:01pm
Msg #334818

Probably

For all the low ball companies that will hire "just a notary" for signings -- You get what you pay for.

Pay a professional fee for a professional service and you won't end up wasting yours or the lenders time with unnecessary QC checks.

Reply by Dorothy_MI on 5/5/10 9:37am
Msg #334922

The real reason is

that we are doing the scanning for the TC for them. What we do, they don't have to pay someone in their office to do. Sounds like a good business decision for them (not for us, but for them), especially if they can get us to do it inclusive of our regular fee.

If it is only for "Quality Control" you will only have to fax page one, signature and acknowledgement page of Mortgage/DOT. That's how you can deferentiate between "scanning docs" and "quality control". The "quality control" issues are a result of hiring "just a notary".

Reply by LynnNC on 5/4/10 2:35pm
Msg #334825

NMT says it is a "B of A requirement"...

...and loan package can't be sent until advised to do so after fax. The fax took a very long time because I had to send it in 3 sections. Perhaps I am having trouble with my fax machine (HP 3330) because while it loads the pages fairly quickly, it took 1 1/2 hrs to transmit.

Reply by Moneyman/TX on 5/4/10 3:02pm
Msg #334829

Re: NMT says it is a "B of A requirement"...

maybe it is a requirement of BofA for their company only. Other BofA loans do not require the full set of docs to be faxed back (and some do not require any fax backs) when other SS uses them.

? The fax number used, was it a BofA fax number or the SS companies number?

Reply by LynnNC on 5/4/10 4:50pm
Msg #334848

It was an 1-877 # for New Millenium Title n/m

Reply by Moneyman/TX on 5/5/10 1:54am
Msg #334906

Good indication of whose "rule" it may really be

Not saying that SS companies can't have different rules. It's their company and are allowed to run them any way they like. No issues there at all. I run mine the way I like, so for me to say they shouldn't would be dishonest and show a lack of character on my part, IMO.

I am saying is, if SS companies are asking me to do more and require more of my time, I should be able to ask for more money (compensation) and they should be more than willing to pay because they are the ones asking for more services. Refusing, or being unwilling, to pay a little more for more services that are being asked for is really asking someone to work for free. Not to mention that it shows a lack of respect for the NSA and their business. Any company that asks people to work for free, is one that has unrealistic expectations.

Reply by ikando on 5/4/10 4:22pm
Msg #334843

Re: NMT says it is a "B of A requirement"...

Wow! 1 1/2 hours to fax back? Hope it was an 800 number or else you'll have long distance charges coming back to you.

Reply by CF on 5/4/10 6:08pm
Msg #334858

Ask to scan and email the docs back.

For a whole package that is what I would do....any fax machine will take forever to send 100+ pages. The companies that are getting these are not pulling them off a fax machine 100+ pages at a time...it all goes into an email account anyway.

Reply by SOCAL/CA on 5/4/10 9:05pm
Msg #334885

New Millenium Title Group attempted to lower my fee without discussing it with me and wanted B of A faxbacks. It was take it or leave it; I turned it back to them. I set my fees, not New Millenium Title.