Posted by Patricia Koch on 6/7/11 2:39pm
Msg #385368

ServiceLink

I cannot believe this fee - a Modification for $35 w/o docs and $40 with docs. What is happening to ServiceLink, they were always so good to work with and always accepted my fee, which not out of line?????

Reply by mwm143 on 6/7/11 2:40pm
Msg #385369

They still meet my fees on refi's but I have to turn down the mod agreements. It's just not worth it to start my car for $35.00.

Reply by Patricia Koch on 6/7/11 2:43pm
Msg #385371

I agree, after I thought about it, I called and said NO. and yes, they have always met my fees even on modifications. Oh well - cannot please everyone

Reply by Marian_in_CA on 6/7/11 2:59pm
Msg #385377

The $35 loan mods are BofA, and they are usually no doc printing involved on your end. They either send them directly to the borrower or overnight them to you. It's notarizing just one 7-page document and that's it. Almost all of the time, the borrower has the return envelope and label already, and all you have to do is drop it off.

It's like a regular notarization... not a loan package. You're in and out of there in 5-10 minutes, tops.

I happily take those if they are nearby... and they've sent me a bunch of them all within 1-2 miles of me. It's really easy work. If it's further away, then they nearly always give me an additional travel fee.

I dunno... I've always had a good opinion of ServiceLink... but then, I know that they have my fees on record, and if they're calling me, they'll meet them. The only time we really have to discuss it is if they need me to travel very far... and even then, the scheduler already knows and they offer me enough to cover it.

Reply by Patricia Koch on 6/7/11 3:05pm
Msg #385379

I agree, never had a problem before and Modifications are fine and if I only have maybe 1 or 2 miles is great, but in this area it is uually 6 to 12 miles. And Yes, I really like doing work for ServiceLink, and my fees are in the system. They are really good. Also, I have found that
BofA usually need fax backs, which means I have to travel 24 miles for one signing and a
drop

Reply by jnew on 6/7/11 3:15pm
Msg #385387

I call these type of orders Stop and Drops. The documents are sent by the client to the homeowner. They are usually 8-20 page single document signings. You ID, they sign, you slap a label on the OD pack and you drop it on the way home. The only cost variable is driving time and time conflicts. They are usually agreeable to changing the appointment times with homeowner to fit into your schedule. May not be profitable if you have to travel. I limit my service area on these if the client won't pay trip fee. I don't think that these type of orders will affect your standard refi signing rate which is the meat and potatoes of this business and which rate you have to control and not the client.

Reply by Marian_in_CA on 6/7/11 3:37pm
Msg #385393

Agreed... most of the time, the borrowers on these loan mods are willing to work with your schedule. These are the quick appointments that I can usually fit in between others.

I'm never offended by the $35 BofA loan mod offers... since with SL, BofA doesn't pay them much more than that. They usually pay more for the other lenders' loan mods, but not BofA. By now, though, I'm so familiar with the BofA loan mod packages, I can do them super fast. I treat them essentially like any other general notarization... except that I drop them with our local FedEx drop counter. Since I often go there anyway with other packages, it's not really a big deal.

Reply by Gilda Murray on 6/7/11 3:34pm
Msg #385391

I agree with Marian, I accept them when they are nearby within 5 miles from my zip code for that fee only, and the majority of them are, even with less travel miles. I get quite a few of them monthly. The borrower has the return envelope, label and their copies. I am overnight an extra set as well. They sign, I notarize and out within 10 mins top. As she stated just a regular notarization (7 - 10 ) pages for me. One page their signature, and one page I notarize then drop off at UPS on the way back home. Today is the 7th and so far since the 1st, I have done 5 of them.

Reply by Patricia Koch on 6/7/11 3:57pm
Msg #385396

Don't get me wrong, I also have done several modifications for less; however, $35.00 is a little less than desirable. Are area is very rural and we do have to travel a little further for signings. And as I said before, working with ServiceLink is great and this is the only time I have ever had to turn them down

Reply by MaggieMae_CA on 6/7/11 7:20pm
Msg #385416

I'm doing a $35 BoA mod for Service Link Thursday morning. I'm walking out my front door, cutting across the neighbor across the street's front yard, across the backyard of the neighbor behind him and crossing the street to knock on the door directly in front of me.

I think my shoe leather can handle the $35 trip!

Reply by Patricia Koch on 6/7/11 8:17pm
Msg #385426

I agree

Reply by Linda_H/FL on 6/7/11 9:00pm
Msg #385429

And what about the package drop....

I'm doing one Saturday for $40 2 miles from home - but it's 30 miles rt to go drop the package. Companies forget to take that into consideration.

Reply by Linda_H/FL on 6/7/11 9:00pm
Msg #385430

BTW...not for Service Link..thought I should make that clear n/m

Reply by Bob_Chicago on 6/7/11 9:20pm
Msg #385433

Re: And what about the package drop....

Not a shot, Linda, but keep in mind that hiring entity does not know, or much care , about your
proximity to drop-off locations for FEDEX/UPS.
Many of us are in the boonies, with drop offs few and far between. Others are within 5 minutes of FEDEX/UPS, including Saturday drops.
That is why I say , your pricing and acceptance of a specific offer, has to be based on your individual circumstances, all factors considered.

Reply by Linda_H/FL on 6/8/11 7:18am
Msg #385454

Agree Bob...I took it but figure I'll run some other

errands while I'm out that way. The appointment was original set for Sunday, Father's Day - thankfully the signers were amenable to doing it this Saturday and company was agreeable too.

Any signing 2 miles from my home incurs a "special" trip to drop the package - we have no UPS or FedEx drop boxes in my town and I don't get pickup service here. I explained this to the company and asked for $50 - he said he had to get it approved!!! I decided to go ahead and take it simply because, believe it or not, this is not only my first BofA mod, it's my first with this company...sticking my old foot in the door, so to speak. I'd prefer to get more, but I'll make it work...

Reply by Gilda Murray on 6/7/11 11:40pm
Msg #385439

Re: And what about the package drop....

As I had stated earlier I drop the package off on my way home, UPS and Fedex is one mile away from my home, I pass it when ever I leave the house and on my way back regardless of what type of signing I may have. Therefore this maybe an issue for others but not for me I have no problem with it.

Reply by MaryAnn Cole on 6/8/11 7:55am
Msg #385462

Re: And what about the package drop....

Companies don't forget - they just want to spend as little as possible. Remember, we are way down on the chain - the less they spend the more they keep. Include pkg. drop expenses in your fee - refuse to take less. If you lose the assignment so what? If you add your expenses into the $40 you will probably find that you did the job for free.

Reply by Rudy on 6/8/11 12:32am
Msg #385445

theyn are stillgood to work with, I do one or two modifications for them and they are $40, the drop is always on my way home. And if it is out of my cover area I inform them to add'l fees.

Reply by BrendaTx on 6/8/11 9:00am
Msg #385469

It sounds quite reasonable to me if the distance is close to home...very much like general notary work. In-out-done.