Posted by Malbrough_LA on 2/22/13 10:38am
Msg #457112

Considering offering this option to SOME

I have my minimum fee set when I receive calls and it doesn't budge if I have to walk out the door. I do, however, offer to local TCs the option to sign docs at my office for SLIGHTLY less (it's still in the XXX range). I'm considering that option for some SS and TC that call me (BO comes to my physical office). I'm not certain any would be willing to take it, and it would only apply to companies that don't have poor payment histories.

Then again, there's always kick it back to them and have it re-assigned to another SS or TC. Either way, it's the best option for the local (within 5 miles of my office) companies I work with regularly. [I do oh so love the fact that there are 4 of them around me!]

I'm leaning towards the kick it back, but I had a couple minutes and would love to see other thoughts on the idea for those that also have a physical office separate from their home.

Reply by sueharke on 2/22/13 11:17am
Msg #457119

If I had a physical office, I would consider such a move a great marketing tool.

Reply by Kenny Services - Dawn on 2/22/13 11:17am
Msg #457120

With this job being a feast or famine type of business, I would think that is risky, unless you have some very solid contracts with guaranteed number of closings per month. Just my two cents.

Reply by Priscilla Witman on 2/22/13 11:39am
Msg #457122

I have a physical office, but the only time I would offer fee discounts for coming to my office is if the borrowers already had their printed documents with them. Even then, I wouldn't consider it a discount, really, just no e-docs fee. My reasoning for that point of view is that absent the printing, the job is still the same: Execute document package properly, double/triple-check for correct execution, and drop the docs for shipment (and collect ID copies if necessary). If I'm printing and borrowers are coming to my office, the only thing a hiring party wouldn't be paying for is travel, which is dependent upon the signing location anyway, and varies from job to job.

Reply by Malbrough_LA on 2/22/13 1:37pm
Msg #457172

Good observation. I'd basically be waiving the travel costs unless docs were provided (a lot of my local companies have me pick docs up from them in the AM anyway). Also analytically true regarding not being a "discount". It's just a fee that's not being charged due to non-service of that f(x).

Reply by GOLDGIRL/CA on 2/22/13 11:40am
Msg #457123

Well, since you asked ....

...you're saying that because you offer a lower fee for the locals to sign at your office, you now want to make the same offer to SSs and other TCs? I wouldn't rock the boat. Fees are low enough to begin with. Besides, here's the deal: I've often advocated that for those SSs that expect Neiman-Marcus quality but offer Walmart (or less) prices, the borrower come to you. However, for that to work in real life is probably not going to happen. When a lo-paying SS calls and you say for that fee the BO comes to me would probably result in a hangup. Of course, you never know; they may not care. But with a regular-paying SS/TCs, for you to say that you'll knock off $XX if borrower comes to you is just going to cause unnecessary HUH? (IMO)

But let's say you actually call the BO and say drive to me, I guarantee you'll get howls of protests from 99% of them who already expect you to go to them. This will also cause unnecessary trouble.

However, you may get this to work by testing the waters. Run your idea by a scheduler first and see what they say. They may get onboard with it, but I think they'd be the ones telling the lenders that their borrowers will pay less by coming to you, not the other way around.

Reply by MistarellaFL on 2/22/13 12:40pm
Msg #457145

I used to offer this service

But SS never accepted or used this service.
It was accepted and taken advantage of by a few TCs and attorneys, and of course, the general public.
I would only waived the travel fee, and that was to the general public. TCs and atty's always offered my full fee (but I would have subtracted the travel fee if requested).
I think it's a great service to offer, if you already have the office.

Reply by Malbrough_LA on 2/22/13 1:39pm
Msg #457173

Regarding your final point:

"...let's say you actually call the BO and say drive to me, I guarantee you'll get howls of protests from 99% of them who already expect you to go to them. This will also cause unnecessary trouble."

That's what's keeping me from jumping into 100%. I foresee that as being a potential problem as well.

Reply by James Morgan on 2/22/13 12:53pm
Msg #457149

Wouldn't you only be allowed to charge the State mandated per signature fee being that it is at your physical location with no travel involved? It would be here in the State of California. Granted, you could do well on some of the packages requiring 12 to 17 notarized signatures.

Reply by janCA on 2/22/13 1:09pm
Msg #457162

Not true. You are still presenting the documents to the borrower as if you are in their home or met them somewhere else, unless you negotiated that you would only be notarizing signatures on those docs that needed notarizations, and not presenting docs. It would only be the travel fee that you wouldn't be able to charge if the borrowers came to you in your office.

Reply by MistarellaFL on 2/22/13 1:15pm
Msg #457165

I do more than travel and notarize

I have never been able to get the notarization fee for FL on loan or purchase docs with that many notarizations, myself.
Now, if I don't print, travel, drop package or do any administrative signing agent work, just straight notarizations in a loan package, I have charged on a per notarization fee schedule.
I think what Malbrough_LA was referring to was signing agent functions.

Reply by Malbrough_LA on 2/22/13 1:40pm
Msg #457175

Louisiana doesn't have a per signature fee nor a "cap" n/m

Reply by indaberry/LA on 2/22/13 2:31pm
Msg #457185

There will always be those borrowers who want to close at a location other than their home. Your office would sure beat Starbucks, IHOP and Mickey D’s. It should be a welcome alternative for those folks.

Reply by Malbrough_LA on 2/22/13 3:59pm
Msg #457211

Funny you should mention that

I've done some GNW where the signer wanted to meet "In the side parking lot at the Winn Dixie", "At the Shell station near the interstate on-ramp", and my personal favorite to date, "I'll be at the Rick's Strip Club on Bourbon for four hours tonight". It's at moments like this I am reminded of wonderful things from my childhood...particularly:

"You'll get mixed up, of course, as you already know. You'll get mixed up with many strange birds as you go. So be sure when you step. Step with care and great tact and remember that Life's a Great Balancing Act. Just never forget to be dexterous and deft. And never mix up your right foot with your left." -Theodor Seuss Geisel