Posted by MikeC/KY on 11/20/13 1:00pm
Msg #493419

Fax Backs

I Just found out I haven't been getting business from 1 particular lender (I will not mention names) because I was charging extra for fax backs. A lot of the time, they wanted the ENTIRE package faxed back, which is a huge time killer. I have been told by more and more title companies that lenders are not paying for fax backs. which, to me, seems ridiculous. I guess it is what is is; I don't know. I have been in this business over 20 years and have seen things change over time, but it seems there are more restrictions and more headaches for less and less pay. I guess all the Notaries who are taking the $40-$60 edoc closings in my area are getting all the business these days. Yet, I still get tons of call to go and fix their mistakes after the fact. I have told the title companies "you get what you pay for" but it doesn't seem to matter a whole lot these days..... just venting, I guess......

Reply by Linda_H/FL on 11/20/13 1:15pm
Msg #493423

I just had a signing assigned for Friday night

get the confirmation - mandatory faxbacks - which will require an additional 30 miles and 1 hours travel to drop the package - replied can't do this for base fee and my fee is $.....

Getting another notary. Fine with me - I'm not burning 70 miles and an additional 1.25 hours for free.

Reply by C. Rivera Chicago Notary Services on 11/20/13 1:20pm
Msg #493427

it really matters on the NSA location totally agree Linda...

would've said the same.

Reply by MikeC/KY on 11/20/13 1:23pm
Msg #493431

Re: I just had a signing assigned for Friday night

Geez.. I can't say I blame ya.... They want blood now, don't they?

Reply by Art_PA on 11/20/13 3:51pm
Msg #493450

Re: I just had a signing assigned for Friday night

If they want faxbacks, do the faxbacks, & mail the next day, Saturday if possible, or Monday. The lender funds from the faxbacks. Are you 35 miles from your nearest drop box?

Reply by Linda_H/FL on 11/20/13 4:18pm
Msg #493452

30 miles round trip Art - on top of travel to and from the

signing....would be around 70 miles..and it wouldn't go out til Monday.

Reply by C. Rivera Chicago Notary Services on 11/20/13 1:18pm
Msg #493425

TC's use that excuse, but that extra $$ comes from TC

funds AND they do not have to disclose it to the Lender for approval. Total bs.

Our fees are generally POC (paid outside of closing) which is why we may receive payment for our services from a TC or SS, 30, 45 or 60 days after closing. (and this is STILL ridiculous!)

Fax backs of the particulars are okay with me, and usually I don't charge, if under 40 pages. Anything over 40 like the whole dang package, yeah, I charge a fax/scan fee.

Its said that there are some NSA's excepting such low fees, it truly affects all of us in this profession.

Reply by C. Rivera Chicago Notary Services on 11/20/13 1:19pm
Msg #493426

*sad... n/m

Reply by Linda_H/FL on 11/20/13 1:22pm
Msg #493429

The faxbacks aren't the problem - I have a good scanner

that will take care of them in no time - although, in all honesty, I find it totally unnecessary for a 6:30 Friday night closing - don't even try to tell me someone's going to be there to check them. It's the additional time and travel to make a special trip to drop the package - they could have it dropped Friday night to ship out Saturday morning and they have it in their hot little hands Monday morning...instead they insist on the faxbacks so the package doesn't even SHIP til Monday for Tuesday delivery...

Reply by Lee/AR on 11/20/13 1:22pm
Msg #493430

What I do NOT even begin to understand about faxbacks

is how they can be so resistant to paying a reasonable fee for the extra time/travel/equipment/labor involved. And, yes, Mike, that 'something for nothing' attitude IS WAY RIDICULOUS.

Reply by CH2inCA on 11/20/13 1:42pm
Msg #493434

Not to mention, LOOK AT THE HUD!!

TCs AND Lenders are not providing any services for free! Wire fee, edoc fee...

Reply by JanetK_CA on 11/20/13 5:18pm
Msg #493458

Thankfully, that's not true for all companies. There are still some good ones out there that understand that a business (i.e. us notaries) deserves to be paid for services provided. I don't give a second thought to missing work from companies that are trying to figuratively steal my services by not being willing to pay a reasonable fee.

There are always other things I can do to expand my various business activities that ARE worth my time, so I'm not willing to give it away for next to nothing. So if someone else believes their value is the equivalent of a minimum wage worker, then they're welcome to take those jobs - and to risk chasing payment of their paltry fee later on.

Reply by HSH/WA on 11/20/13 7:05pm
Msg #493471

Re: I think the actual cost of fax backs

is about $25 counting the time to sort the docs to be faxed back and the extra drive, but I've never been paid more than $10.

Reply by Luckydog on 11/21/13 11:29am
Msg #493551

Re: I think the actual cost of fax backs

Agree, a few companies lately want the entire package scanned back, even if not funding same day. Ugh...do not see the point, unless the title companies begins their work before the package comes back to them. Yes, they do not want to pay extra for that.