Posted by CopperheadVA on 5/11/11 1:40pm
Msg #382882

30 page Loan Mod for $40?

I've gotten two calls from the same company recently for a 30 page loan mod, e-docs, for $40. They say that you don't have to print a borrower copy but come on wouldn't the borrower want a copy of his loan mod? I've done local loan mods for $40 before, but they were two or three pages total; is anyone taking these for $40? I counter-offered but the company declined. My local travel fee alone is $25 to go to someone's home. So that means I'm printing, notarizing, going through 30 pages for $15?

Reply by Jack/AL on 5/11/11 1:49pm
Msg #382884

One last week really contained less than 40 pages. That number included the original modification requiring two signatures of the borrower, and a second set for the borrower to keep. Only one ack was required. The last half dozen or so that I've done were like that. They were very simple and easy. I only go for the $40 fee if the location is nearby, otherwise, ask a bit more for the miles/time.

Reply by HrdwrkrVA on 5/11/11 2:04pm
Msg #382889

Not here. I'm w/ you Copperhead - my travel alone is $25.

Then, I'm notarizing, AND making sure the ENTIRE doc is signed correctly AND dropping it off. Of course, this usually includes me supplying a return envelope (as well as filling out a return label if none provided). For All this service, I only charge a mere $25 extra - THAT is a bargain AND reasonable. I don't let them nickel-and-dime me. If you don't value yourself - whywould/ should anyone else?

Reply by Alz on 5/11/11 2:42pm
Msg #382898

BOs always have docs in advance for the Loan Mods I conduct. n/m

Reply by Stephen Gieringer on 5/11/11 2:46pm
Msg #382899

I did one for $50 that was local from a company in CA. The loan mod thing is nothing more than a credit counseling service where you pay an attorney a retainer to try and get your current loan modified (which you could do on your own.) There was a company called Coast to Coast in CA that ran a similar thing with Americor Financial for debt consolidation services. Like every other greedy SOB in this business, Americor figured that they would rather save the $50 to send a notary out to the customer as a witness and just take their chances (by not paying to have a notary go out.) The program ran for about 45 days - Americor reps ranted and raved about my quality of service with their clients - then they just stopped. When I emailed C2C - they said that they didn't know why Americor discontinued.

Reply by CopperheadVA on 5/11/11 3:03pm
Msg #382900

The calls I got were from UST Global

I specifically asked if it was a loan mod or a loan mod application. She said final loan mod and I did not need to print for the borrower. I just thought that was goofy - she didn't say anything about the borrower already having a copy. I've done the 2-3 page loan mods through another company and the borrower never has a copy beforehand.

Reply by topflyt on 5/11/11 4:21pm
Msg #382912

Re: The calls I got were from UST Global

I just did a Grant Deed for $35.00 about 2.7 miles from me...signature and an initial....about 20 minutes total.
I'll take those all day!

Reply by Lita on 5/11/11 6:07pm
Msg #382926

Re: The calls I got were from UST Global

I recently took one from UST Global. They also said no need to print an extra copy, but turned out the borrowers copy was all included so I just printed the one set then split out the borrowers (couple of pages) copy where it was marked.

Accepted job for $50. Total printed pages 26. Two signatures, no notarizations, 3 miles from my house, 10 mins in and out and they paid in 2 weeks.

The only odd thing was they asked that I fill out, sign and stamp an Acknowledgment. I was wondering what I was missing since there were no documents that needed notarizing. I was told they want to "be safe" so they need this. I explained how the acknowledgment worked and if they wanted to provide a letter addressing their concerns that the borrower would sign, I would notarize that but would not be completing a loose certificate... loose/no document attached to it. We went back and forth but in the end the supervisor agreed for me to go out as a courier. They said they have never had a notary refuse to provide this..... really?

In between the back and forth of emails about that I started having concerns myself so I called a random BOA (BOA # not on docs) and explained I was a notary, had a loan and wanted to verify it was valid. It was. So I went. The borrower was great and very much aware of what she was signing. It all worked out in the end.

Reply by janCA on 5/11/11 6:50pm
Msg #382930

Re: The calls I got were from UST Global

I've done a couple of these UST's, not for $40, and NO, I DID NOT fill out an acknowledgement. There was no signature to be notarized on any of those docs. This is NOTARY 101. These are easy peasy, 10-15 mins. to complete.

Reply by Blueink_TN on 5/11/11 11:07pm
Msg #382943

Re: The calls I got were from UST Global

I agree Jan. I was asked to complete one of these modifications and I told them my fee. It really doesn't matter to me the amount of documents, the fax backs, the # of notarizations. It's all about purchasing a segment of my time. I guess I was the only one available in my rural area because they paid my fee and they paid it within three weeks. Accommodating is the name of the game - and UST Global realized that. They can call me anytime.

Reply by Susan Fischer on 5/11/11 11:44pm
Msg #382944

Me too, Blueink. Easy peasy. n/m