Reply by Linda Juenger on 11/17/12 5:09pm Msg #443800
I too sometimes ask if they know how big the pkg is. Some know, some don't. I always call and get more for huge pkgs like that. My standard fee is for up to 130 pages. Over that, I'm on the phone immediately. I chg an extra $25
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Reply by Lee/AR on 11/17/12 5:13pm Msg #443802
My neither hard nor fast rule is: $25 gets you 125 pgs X 2... or $5/25 pages is another way to look at it. As you said, pkg. size usually is an unknown, so I just give 'em a heads up when quoting that I 'expect' an average size pkg. of 125 (+/-) and if if turns into a 180 page monster, I apply the $5/25 page rule and let them know I'll be needing more $$. I've never been refused. They seem to understand that more money is required for excess time/materials.
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Reply by Moneyman/TX on 11/17/12 6:26pm Msg #443820
First, you have to realize that it is not just about the extra expenses incurred with printing the larger packages. Those "extra" sized pages also have to be presented to and signed by the borrowers. That means "extra" time at the table. Charging more for larger packages should also include the additional time and work on your part, imo.
My standard e-doc fee is for refi packages up to 125 pages. I have found that VA loans are usually larger than the "standard" size, therefore, if it is a VA loan, my standard fee includes my charges for the larger doc sized packages (up to 180 pages). If the package ends up being even larger, I do pretty much what Lee suggested below.
It also helps to learn which lenders/TC tend to have large doc packages. Sometimes, the schedulers may not know the size of the specific loan package (no docs yet) but they usually know the name of the lender and/or TC.
You might also try amending the verbiage on your verbal quotes, and/or confirmation emails, to reflect the fact that the fee you are quoting is for a loan doc package with a maximum of XXX pages (e.g. 125 pages - you have to determine the exact number for your own business). If you receive a set of docs with say, 200 pages, you have already set up your right to adjust your fee with the SS/TC prior to completing the request. Call them prior to printing and get them to send you a new confirmation with the new agreed upon fee. You should ALWAYS get a new confirmation when the terms of the original confirmation have changed, imo. It's just good business and helps to avoid possible honest mistakes or any possible arguments over your fees.
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