Posted by John E. Rogers on 6/11/11 5:20pm
Msg #385959

EQUIFAX SETTLEMENT SERVICES

Anyone hearing much from Equifax lately? There are several comments in the blog, but not much. Up until several months ago, they called fairly frequently, then for some reason, all communications stopped and they are not responding to my emails. They were (are?) a great company to work with; pay well and in a timely manner. The only reason I can think of is that I offered several constructive suggestions especially about changes that required "every doc" to be initially by borrowers. Perhaps I should have simply followed the new instructions and kept my big mouth shut! Equifax signers, please respond.
jer/Ohio

Reply by CopperheadVA on 6/12/11 6:34am
Msg #385980

I just did a job for them recently. However, I must disagree with you that they pay well. They paid my rock-bottom-of-the-barrel fee that I only accept for jobs in my zip code, and they had to "get that approved" because their initial offer was only $85 including edocs. I did not see any instructions for initialing every page on that job.

Reply by Linda_H/FL on 6/12/11 7:55am
Msg #385983

"I must disagree with you that they pay well"

Does make you wonder what some consider "Pay well" to mean, doesn't it?. I've seen some laud companies saying they "met my fee" or "pay well" for companies that I know, from my experience, pay $75-$90 with mega hoops and handholding. It's why I give little weight to these statements unless they contain the actual dollar amounts paid.

Another one? "Paid timely" - what's that poster's definition of "timely" - for some it's 30 days, for others it's 45-60 days, yet others it means "they paid like they said they would in their confirmation"....need definite timelines to take it seriously.

But that just me..

Reply by jba/fl on 6/12/11 7:57am
Msg #385985

I agree - it is all in the eye of the beholder. There is no "standard" objectivity in the ratings.

Reply by Linda_H/FL on 6/12/11 7:57am
Msg #385984

BTW...I did work for this company once..

They paid me $150 for a RESPA (which I was tickled about) - travel time? 90+ miles rt - did not get the final signing and had to chase them for my money - I'd have to go look up my records but, if memory serves me, took almost 60 days to get paid...

JME

Reply by John E. Rogers on 6/13/11 11:58am
Msg #386049

Thanks for the update; if I hear from them again, I'll be certain they are willing to pay a reasonable fee and in a timely manner. jer/OH

Reply by Virginia/PA on 6/12/11 9:10am
Msg #385993

Perhaps it's just indicitive of the amount of refinancing that is being done. The "good old days" are gone folks.

Reply by John E. Rogers on 6/12/11 6:46pm
Msg #386023

Thanks for the feedback folks. By timely, I mean within 30 days, a standard for the business I think (mostly they paid within two weeks). By pay well, I mean $85-125 for travel within 10-miles one-way. And, no massive fax-backs, and docs arriving on time (within 4-hours of signing, usually much longer).

After going through their new online "security" program with Fiserv in March/April for edoc reception (about an hour or so) and then absolutely nothing after that as far as assignments or communications go, I had to wonder what happened. We are all aware of the sluggishness in the real estate business so I can accept that; just wanted to know from other NSA's what recent experience they had with Equifax. They seemed like a very professional company with staff really concerned about NSA's.

I am glad to hear that they apparently dropped the initialling of every doc in the packet (which also included some 20 pages of instructions for Notaries and Settlement Agents). I suggested additional payment for this seemingly unnecessary burden which is probably what got me dropped from their list of NSA's. Or, maybe it is just coincidence that they just do not have work in this area...or...perhaps they found people to work for less. Thanks again to all for taking time to reply. jer/OH

Reply by NJDiva on 6/13/11 8:22am
Msg #386037

Um, er, ugh...

"By pay well, I mean $85-...or...perhaps they found people to work for less."

I hope they're not finding poor SCHMUCKS out there accepting LOWER fees than $85. (of course we know the reality in THAT! But then there was a time when we thought the same thing about $85!!!)

Sorry Mr. JER, just my very humble $.50! (I refuse to stay at a mere .02 or even .25...lol My opinion is worth FAR more than .50 as far as that goes...if only in my own mind!)

Have a great week all!

Reply by John E. Rogers on 6/13/11 12:07pm
Msg #386052

Re: Um, er, ugh...

I agree; just trying to stay in business and not give away professional services. As has been said in other notes, "...accept $85.00 e.g. or sit at home?..." also, "...if we all price our services at a high level, agencies will have to start paying us professional fees...". Our business is not simple as it could or should be...perhaps we should organize and form a union. jer/OH