Posted by mwm143 on 2/15/12 11:05am
Msg #411854

Would you charge an additional fee?

I received docs for a closing which came in 9 attachments. (love those). Total loan and escrow docs about 120 pages. There were a couple other attatchments containing a few pages each including documents with missing signatures from the original RESPA package. Okay, I can deal with that too.

Then there was a separate attachment with the entire 50 page RESPA package dated last year.

I emailed the hiring company making note of this and requesting an additional fee if the RESPA package also needed signing. It did, they agreed but told me they would no longer use me as this was a "typical" lender package. Typical? yeah, sure.

Reply by Linda_H/FL on 2/15/12 11:09am
Msg #411856

So you're talking 170+ pages for the entire

package - absolutely would ask for more. I might not charge the full fee that I'd normally charge for a RESPA signing since (a) I'm already there; and (b) I'm not collecting supporting docs (theoretically).

But absolutely - higher fee for a closing of 170+ pages - what that would be is up to you; also make sure they're not having you pick up docs - are they possibly applying for a DIFFERENT loan at the time they're signing this one - if so, then two fees - one for the closing, one for the RESPA.

And if the company is sneaky enough to slip that in without telling you and refuses to pay extra for it, small loss if they don't call you. Sorry, but that is anything BUT typical...someone's yanking your chain.


JMO

Reply by CopperheadVA on 2/15/12 11:27am
Msg #411859

Yes I would charge an additional fee. They want an entire RESPA package signed in addition to the loan package at the same appointment? I have never heard of that before - yes indeed that incurs an extra fee. And as far as them saying they will not use that notary in the future since that is their typical lender package - that's fine with me. I HATE doing RESPA signings and I decline them when I get called for them.

Reply by Sandra Clark on 2/15/12 12:03pm
Msg #411862

Agree 100% Copperhead..........I decline them also.

Reply by Lee/AR on 2/15/12 12:05pm
Msg #411863

Yep n/m

Reply by GOLDGIRL/CA on 2/15/12 12:08pm
Msg #411864

Unfortunately, it's becoming all too common. It's part of dumping on the notary - extra printing and time at the signing table with no extra fee, of course. Other "dumping" includes printing the appraisal and the preliminary title report. So instead of the TC and lender taking care of business properly beforehand with its accompanying cost in labor and equipment to them, they conveniently pass it on the notary. They've figured out that they don't have to pay the notary to go out and get initial docs signed when they should be signed - at the beginning of the loan process - just wait til the actual signing, play catch-up and get it done for free! And they're right, if you don't do it for free, another notary will.

The only good thing about RESPA is that borrowers don't get a copy. Print it on low ink, too. Additionally, I don't walk borrowers through it. I hand the stack to them at the end (while I review signed loan docs) with an accompanying explanation of what they are for and why they need to be taken care of and say sign. If they have questions I tell them to call their broker or LO (into whose desk drawer the RESPA returns.)

As far as typical - there's this one SS in Arizona that has one main client - in Utah, I think, that does this in every pkg. Infuriating! Additionally, I occasionally see it in other pkgs.

Reply by Barb25 on 2/15/12 12:33pm
Msg #411866

If you can get the extra money absolutely. But what I am reading here and I see myself is that mostly they say "it is what it is." And it is "typical" with this lender. So it's take it or leave it. I am getting tired of these 30 page faxbacks with one lender. Besides I usually scan so if they say they didn't receive them I can just resend. They take longer than the signing. I would gladly give up the extra $15.00 just to be able to drop the docs. My biggest fear is a jamb of a doc and destroying it on the scan. Then what? The business ain't what it used to be...

Reply by mwm143 on 2/15/12 12:36pm
Msg #411867

Yes, I agree but I feel fairly certain the loan process would not have even started without these same documents being signed and returned. I'm sure it serves as some safety net.

The hiring company pays low on my scale of acceptable fees. I handle only a couple each month for them but they are normally easy to work with. It's just such a slap in the face when I brought it to their attention and requested an additional $25 bucks for what I consider an atypical request they were quick to retailiate by stating they would never call me again.

Wouldn't the more professional response have been to acknowledge it and simply state that any future signings from this particular lender would be of similar circumstance and could only be offered at the lower fee? And leave it to me to accept or decline?

The expectation of professionism should go both ways.

Reply by Barb25 on 2/15/12 12:46pm
Msg #411869

Absolutely. They were totally unprofessional. I am sure they caught you off guard. In fact if you have a good relationship with them I don't see anything wrong with dropping an email or calling a person who you deal with and see if you can reclaim the relationship suggesting just that. (That is, if you want to). Sometimes people get defensive. Hopefully it was just a misunderstanding. Of course, what you want to do is most important. Good luck with whatever you decide.

Reply by GOLDGIRL/CA on 2/15/12 12:53pm
Msg #411870

Well, good luck expecting professionalism from any of these guys. In fact, professionalism is often the exception. We can only control our own behavior. Your hiring agency probably has 10,000 other notaries banging on their door, ... and many of them probably willing to work for less than what they pay you.

If you want to continue with this guys, suck it up, try to repair the damage .... or IMO, let 'em push somebody else around, esp. since you get hardly any work from them and they're on the low-end of your pay scale.

Reply by FeliseSoCal on 2/15/12 4:09pm
Msg #411890

Yes!

I ask for additional fees for extra large packages...anything over 120. And yes, they complain sometimes. But a reasonable client will understand the Notary is not going to eat those fees.
I don't print appraisals either. That is not our job and it's not part of a loan signing.

Reply by snowflake/PA on 2/15/12 1:29pm
Msg #411871

Yes. I would request an additional fee. With some of my clients, I do ask for an additional fee if loan package is excessive or for a very last minute deal. Sometimes I get the additional money, and some just won't budge. I have a title company who has cut my print fee and there is no way to get more assignments from them should I slightly increase my base amount for the offset of the reduced print fee. "Other notaries closing for less money" is what I keep hearing. Nature of the business.

Reply by ReneeK_MI on 2/15/12 3:56pm
Msg #411888

Here again, I guess I buck convention ...

I quote flat, all-inclusive rates based primarily on the type of transaction. Because I live in a metro-area and because I belong to a network, I don't bother with miles - I either go there, or I don't. When I say "flat/all-inclusive" - if I take the job, I take whatever comes with it and I get it done. I also don't bother with pkg size - a 10 page cash purchase can go south and take 2 hours, and a 150 pg refi can be done in 20 mins - you just never know, but you DO still need to have the SAME amount of knowledge, experience and CS.

This is how T/C's operate - they don't ever change their fee because there were X-amount of pages, or the broker docs weren't considered or they have to print an appraisal, or there's fax-backs or whatever. It's a purchase w/a mtg, ok it's this much (end of conversation).

T/C's don't have a CLUE what they're going to end up with at closing when they start up a file. Once you know the client, you can quickly figure out pkg size, appraisal always included, whether you'll spend time faxing-back, etc.

this is why my own business model has always been to emulate a 'full/in-house' closing as much as is possible & logistical. Over the years, I've pretty much steered away from SS's, primarily because most of them don't want me either - I charge for this kind of service, and that's just not what their primary interest is (most of them, again - generalizing). I count my blessings that I do have the ability to 'hand-pick' my clients - and I do understand what a blessing that is.

Reply by Lee/AR on 2/15/12 5:54pm
Msg #411896

Re: Here again, I guess I buck convention ...

If a decent fee were consistently offered so that I would have enough profit from 'many' to offset the few extraordinary ones, that would be acceptable...and easier for everyone.

However, that's not been my experience at all. "But it's only.....pages, miles"...whatever they can come up with to attempt to get as much for as little as possible.

Reply by PublicTipic on 2/15/12 5:26pm
Msg #411895

Charging an extra fee for a more than avg package is necessary for survival in this business, given the cost of printing, not to mention your time. I'm finding the title companies agreeing to my sight increases in fees because they are still getting a fair price and it's done correctly the first time.
So, good for you. Don't let them undermine your worth. Take back your power!

Reply by mwm143 on 2/15/12 7:41pm
Msg #411902

Loan pkgs come in different sizes

I have come to expect separate TILs, and duplicate notes etc that increase the pkg size. This one however just hit me wrong when the additional docs were a separate attachment and the initial respa docs which had already been signed, returned and in the lenders files. In essence each of the 50 pages were duplicates of the same docs in the loan package. Like gg said...abuse of our services.

Reply by Raimond on 2/17/12 9:52pm
Msg #412145

In the last 10 days we had two packages that were just over 180 pages. I charge extra for anything over 120. I called back and explained the situation and got an additional (fair) fee without issue.

Paper and toner are going up every year which comes out of my pocket. The costs to the BO for our services has not gone down so why should my profit?

I agree with your frustration on the multiple attachments in an e-mail.