Posted by Pam/NM on 2/22/13 12:23pm
Msg #457140

Have you ever charged extra

for doing a "simple refi" (oxymorn right there) with a POA (one spouse is present, the other not)? I have always just considered the extra time spent on this one of those things that evens out in the long run, but was curious. I had one about a month ago where there were 3 borrowers, 2 brothers and the wife of 1, and only one brother was present--he had to sign for all 3, as AIF for his bro and SIL. It took a good 30 minutes extra, but I just wrote it off as one of those things.

Reply by ToniK on 2/22/13 12:33pm
Msg #457142

I usually turn down POA due to the time constraints. If I do take on one, I charge more similar to how I charge for a reverse mortgage.

Reply by Pam/NM on 2/22/13 12:51pm
Msg #457147

I just confirmed with a borrower for a closing tomorrow. When I accepted it, I wasn't informed it was a POA signing. I have never charged extra in the past, but am a bit irritated that I wasn't told up front.

Reply by Pam/NM on 2/22/13 12:51pm
Msg #457148

And as someone else pointed out in a PM

I don't charge less for getting in and out in 30 minutes, either....

Reply by Julene Ramirez on 2/22/13 2:42pm
Msg #457189

Yes I just had one also, 4 borrowers. Two in Hawaii who gave POA to one of the borrowers present. The package was 239 pages long. It took me 3 and a half hours to complete. I did not get paid any extra. I certainly feel like I should have.