Posted by pat/WA on 6/14/11 11:42am
Msg #386161

couriers

If what I see on the HUD is accurate, we should look into becoming couriers in addition to signing agents.
I signed a purchase last night and the courier fee on it was $109.00 to pick up documents and deliver to the title company 30 miles away.

Reply by Linda_H/FL on 6/14/11 11:50am
Msg #386163

Re: couriers..those courier fees are more than that

it also includes fees for sending out original lender packages, payoffs, borrowers' funds, etc etc - it not strictly limited to the loan docs to/from title....and think about it - if a company has 30 closings/day for various different companies, those original packages have to get back to the lender somehow = expenses incurred.

Reply by Linda_H/FL on 6/14/11 11:57am
Msg #386166

Oh..also forgot...for out of state companies

also probably includes overnight fees to send the mortgages/security instruments for recording - either to a recording company or to the recorder directly.

JMO

Reply by BobbiCT on 6/14/11 11:51am
Msg #386164

LOL - that's what they charged ...

That's what they charged the borrower.

Like notary signing agents, I doubt the company paid the courier that fee.
The courier probably only got a portion for the "travel" and the "company" picked up a larger share to a) make calls to find a courier, c) schedule with the courier, d) send courier confirmation w/ pickup and delivery locations, and e) verify delivery on time (or late in hopes of cutting the courier's fee and keeping even more of the charge to the borrower). Hmm... anything else that can be added to reduce fee to courier while keeping bulk of fee for self?

Reply by SharonMN on 6/14/11 12:12pm
Msg #386168

I always say to check what legal couriers in your area charge. They offer similar notary and signing services (but probably not loan signings). However, if you are charging less for a loan signing than your local legal courier is charging for "Pick this paper up from my office, go get Joe in the next town to sign it, and bring it back" you are undercharging.

You can also check taxi fares when determining your travel fees.

Reply by Patti Corcoran on 6/14/11 12:54pm
Msg #386174

ReLouis -= please email me

Patti - [e-mail address]