Posted by 101livescan on 2/15/13 8:52am
Msg #455954

Lenders are asking a lot more of us today!

Huge packages with more and more disclosures. And the disclosures that should have been signed within 72 hours of the clients credit being pulled, those are often in the package too, along with the 1003 that was taken at that time.

The appraisal report, 30 pages, legal sized, taking lots of toner for those photographs of comparable properties.

LOEs, tax returns, pay stubs, utility bills, insurance binders, you name it. Not just loan documents any more, not like it was 12 years ago.

Since more brokers are generating loans these days, those pages can be as huge as 300 pages because when they are sold off, there must be original signatures on many documents.

So, folks, these packages are not shrinking, they are growing.

More reason not to work for anything less than $XXX. What's your time, materials, and expertise worth, not to mention the rising cost of gas!

JMHO

Reply by Resilient/MD on 2/15/13 9:01am
Msg #455955

I totally agree. I had one last week. Received the e-docs and it was 250 pages. Before I printed, I viewed the documents. I called and told them my fee is $xxx because of the number of pages and the appraisel with pics. They met my fee.

Reply by Linda Juenger on 2/15/13 9:10am
Msg #455957

If the appraisal is in the pkg, I call or email immediately. I give them 2 choices. 1. I do not print or 2. If you want it printed I charge $25 PER appraisal. This means if I print it for the borrower it is $35 and if you want one sent back in the pkg, that is another $35. Most times they tell me not to print. I've only had 1 company that wanted it printed for the borrower and they sent me a revised confirmation with the additional $35. I WILL NOT, CAN NOT, DO NOT print these for free. This is NOT our job.

Reply by Resilient/MD on 2/15/13 9:18am
Msg #455960

AMEN!

Reply by garland/CA on 2/15/13 9:43am
Msg #455966

Definitely packages are getting larger! n/m

Reply by BossLadyMD on 2/15/13 10:42am
Msg #455971

I do not print the appraisal report & it should not be there

The appraisal is POC and should not even be in the packet. But I rarely see it included in the packets I get.

It's the appraiser's responsibility to get that to his clients, he's making $475-$600 too! I dont think so!

Reply by jtb/CA on 2/15/13 11:05am
Msg #455977

Re: I do not print the appraisal report & it should not be there

If the appraisal is a separate attachment, I shrink it to 8.5x11 letter size before printing! Legal paper is so expensive.

Reply by Pro Mobile Notary on 2/15/13 11:45am
Msg #455990

Re: I do not print the appraisal report & it should not be there

I had a conversation with an escrow officer (just yesterday) at an office that gave us 1,000 orders in 2012. It was a First American Title office, so we are not talking about some small independent.

My question was, "Why do we have to print out lender's instruction to escrow, the trailing lender's papers and other items (not specifically mentioning appraisals).

The response was not far from what I expected.

"If we send it to you to send to your signing agent IT MUST BE PRINTED. If your signing agents do not want to print those things, we will find another company that has signing agents that do not mind doing what is being asked of them by us at the explicit direction of the lender."

Do you really want to destroy working relationships by refusing to print out something that you personally deem as "not belonging in the package?" It must be nice to be independently wealthy and do as you please without regard for what is being asked of you.

Reply by SheilaSJCA on 2/15/13 11:54am
Msg #455992

No way, appraisals should not be printed by us. Period.

unless of course they want to pay a per page fee of $25-$35. There is no VALID reason for the signing agent to give this service away for free. It is NOT part of the loan package no matter what the big boys/girls say at First American.

Reply by SheilaSJCA on 2/15/13 11:56am
Msg #455993

I meant a print fee for the appraisal not per page n/m

Reply by Lee/AR on 2/15/13 12:17pm
Msg #456008

Lot of rationalization from FASS, but no justifiable reason

Appraisers are well paid and it is their responsibility to supply it to the Borrower.
If they do not, then the Notary needs to be well-compensated for doing the printing.
Anything else is simply abusive...and an abusive use of power.

Reply by BossLadyMD on 2/15/13 12:29pm
Msg #456010

I'm not independently wealthy, I'm just not foolish.

Thats absurd. I would never think of printing the appraisal report and I have never been asked to. Knowing my mouth, I would call the appraisal listed in the docs and ask him why he didnt do it. I would give him grief and still not print it.

Reply by Notarysigner on 2/15/13 12:49pm
Msg #456016

Re: I'm not independently wealthy,I'm with you ADDED.Why are

There Docs in the loan package asking the borrower if an appraisal was done and if they received a copy of it?

I Remember when I first started THOSE DOCS were often overnighted to the borrower. Then I started getting "additional Docs" from the TC with an "Oh yea, forgot to include these! BS I've even received appraisals for the wrong house.

Pay me for the additional Docs or get your NSA from the bottom of the find a notary list, you will be more successful.

Reply by 101livescan on 2/15/13 1:36pm
Msg #456026

Re: I'm not independently wealthy,I'm with you ADDED.Why are

It just kills me! The LO makes the most money on these transactions, then the title company for the title policy, and we make the very least. Yet, we're expected to "eat" these costs. I really think the crap is rolling down hill, and we have the choice to get out of the way of it or allow ourselves to be immersed in it.

I like to keep things clean and orderly.

Reply by GOLDGIRL/CA on 2/15/13 2:05pm
Msg #456032

BTW, Cheryl ....

Since you're on your 32nd commisson (congratulations!) I was shocked to read you'd even think of printing an appraisal!! Or perhaps, you meant that you didn't catch it in time and printed it before you even knew it was in the pkg (like I've done) Yuk!

In any case, re appraisals: Call the borrower, cos my experience is that 99% of the time they already have it. If they don't, e-mail it to them. Or put it on a CD (not sure what the cost of that is, but it's less than the wear and tear on our printers and the endless ink we're contributing for free cos the lender was too lazy to fulfill its responsibility to get it to the BO). If all else fails, print on super low ink, both sides of the paper.
BTW: It's my observation that it's either the law or a code of conduct that the lender is required to get the appraisal to the borrower within a certain time frame re the loan signing. Most do, but some drop it in title's lap cos they think that fulfills their obligation. Title, of course, has no intention of wasting its time, paper and ink taking care of it, so it become part of the lender pkg that FATCO so derisively contended was suddenly our responsibility. (Re Pro Mobile post).

Reply by 101livescan on 2/15/13 3:28pm
Msg #456058

Re: BTW, Cheryl ....

I don't print them...

Reply by GOLDGIRL/CA on 2/15/13 4:09pm
Msg #456072

Re: BTW, Cheryl ....

I couldn't imagine you did. I think I just misread you original post!

And it seems to me any lender who thinks they're off the hook by dumping the appraisal in the loan pkg for the lowly notary to print might be in for a big surprise if push ever came to shove.

Reply by GOLDGIRL/CA on 2/15/13 1:38pm
Msg #456028

To FATCO

"If we send it to you to send to your signing agent IT MUST BE PRINTED. If your signing agents do not want to print those things, we will find another company that has signing agents that do not mind doing what is being asked of them by us at the explicit direction of the lender."

Good luck with that.

Reply by Ronnie_WA on 2/15/13 2:21pm
Msg #456040

Appraisal printing is not included in my edoc fee. I am a signing agent - not a lender employee. The appraisal is not a document signed at closing. If the title company wants to provide the appraisal delivery as a service to the lender, then they need to have their escrow fee priced accordingly and compensate us for assuming their responsibility. I charge $1 per page for an appraisal. They are very costly to print. Notary assumption of this cost is unreasonable and those that do so are short sighted and undermining the siging industry. Everyone in the food chain gets paid big bucks except us. Why permit them to dump further costs on us? Just doesn't compute for me.

Reply by Paula Yakey on 2/16/13 12:33am
Msg #456133

I was a mortgage broke for 21 years and it is not the job of the signing agent to print and give a copy of the appraisal to the borrower There is now a form in the package that states the borrower has the option of receiving an appraisal 3 days before closing or they can waive that right. The appraisal is sent to the lender for underwriting and therefore the lender is responsible for getting the appraisal to the borrower. Every package I have received that has an appraisal in it I asked the borrower if they have gotten a copy and all have already received it, Therefore I will not print.

When I had loans to close and went to my local title company...there were many things they would not do without charging my borrower extra. Never did one of the title companies I use ever go out of their way to get my loan closed. Especially if it was getting close to 5:00 PM!!

Reply by Ernest__CT on 2/15/13 3:22pm
Msg #456057

Too true! n/m