Posted by notary365MI on 5/24/11 2:06pm
Msg #384194
Am I smarter than a 5th grader?
This is adding up SO WRONG, but maybe my math is incorrect and I have lost my ability to add in my mid 30's. Please clear this up for me.
Company will pay Contractor:
$50 per standard closing Set;
$25 per each additional Set of documents; and
$25 per each E-doc Set
A Set is defined as two (2) copies of each document, one of which shall be left with the borrower.
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Reply by Linda_H/FL on 5/24/11 2:10pm
Msg #384196
I read it "Company will pay $50/closing - an additional $25 for a piggyback - $25 is docs 3-mailed"
I read it - NO!!!
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Reply by Linda_H/FL on 5/24/11 2:11pm
Msg #384197
Re: Am I smarter than a 5th grader?....ROFL
apparently I don't TYPE as well as a 5th grader..
Should be $25 *if* docs *e*-mailed....
LOL...sorry about that...
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Reply by notary365MI on 5/24/11 2:12pm
Msg #384198
Sum Total
I added, came up with a sum total! Looked at it, and thought that couldn't be right! Added again, came up with the same sum total and thought that couldn't be right. Added again (you get the point)!
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Reply by Linda_H/FL on 5/24/11 2:16pm
Msg #384200
Re: Sum Total
This sounds to me like $50 for the closing, $25 for e-docs = $75 for e-doc closing; if a second loan involved, maybe $25 for the second closing and $25 for e-docs = $50 for the second one so a total of $125 for a piggyback closing...
Maybe I'm wrong.
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Reply by notary365MI on 5/24/11 2:24pm
Msg #384202
Re: Sum Total
You too - that was what I came up with! So for a sum total of $ 75.00 I am to do a basic closing (two sets of docs usually between 90 - 125pgs, travel and time)? I don't know what a piggyback is exactly but I know I haven't done any so... Not gonna happen!
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Reply by Linda_H/FL on 5/24/11 2:26pm
Msg #384203
Re: Sum Total
Piggyback = close a first and second mortgage simultaneously
Sounds like you're signing up with someone? Make it easy for everyone - send them YOUR fee schedule. No need to be a math major to do a closing..
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Reply by SouthernOK on 5/24/11 2:28pm
Msg #384204
I think this new, "can you do the math" game is going to allow these companies to not really tell you what you are getting paid, hoping you'll do the math in your favor and think $125 for piggyback e-docs.
You always need to confirm a dollar amount, if not they will do the math in their favor, $100 piggyback e-docs.
I also didn't see any travel fees on the list?
Do the math, then confirm a dollar amount.
FWIW, I do have a math minor on my chemistry BS.
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Reply by LKT/CA on 5/24/11 10:50pm
Msg #384240
<<<I think this new, "can you do the math" game is going to allow these companies to not really tell you what you are getting paid, hoping you'll do the math in your favor and think $125 for piggyback e-docs.>>>
Like Linda H/Fla said, send the hiring party YOUR fee schedule which shows the hiring party what you CHARGE. Employees "get paid"......business owners "CHARGE"............which one are you?
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Reply by Moneyman/TX on 5/24/11 11:07pm
Msg #384242
Excellent point & stated in a way for all to understand :-D n/m
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Reply by Susan Fischer on 5/25/11 1:51am
Msg #384246
Exactamundo - the Profit Margin. My fees are my fees. If
I can't make a buck, there's no point to it, business-wise.
It's totally different from an employee's hourly wage/salary/control/etc. It boils down to this: profit is to business as financial security is to family. I was an employee from 1961-through the 1990s, and a contract worker or self-employed since. I'm semi-retired, and counting down 13 1/2 months to MediCare.
I set my fees, and they're consistent, because my fees aren't arbitrary, they're part of my life-equation. That pretty well cuts out the low-baller-dickering nonsense.
The razzledazzle of "what they pay" is just another song and dance, isn't it? And, more frequent by the day, so hilariously out of touch with we whose boots are on the ground.
The take-away: If one tries to operate without a profit margin, the chances for survival aren't worth a plug nickle, whether business or family.
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Reply by MW/VA on 5/24/11 3:50pm
Msg #384211
I think even a 1st or 2nd grader can spell "low-baller". n/m
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Reply by topflyt on 5/24/11 7:45pm
Msg #384220
The only thing wrong is if you take it unless it's your next door neighbor's.
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