Posted by pat/WA on 9/24/13 4:05pm
Msg #485812

LSI

Just received an email from LSI asking that we reduce our fee to $50.00.

Reply by Tim Cameron on 9/24/13 4:40pm
Msg #485820

mmmmm I have not received that email....doing one tomorrow for XXX

Reply by Alz on 9/25/13 12:13pm
Msg #485929

Same here! 9/26/13 - XXX n/m

Reply by John/CT on 9/24/13 4:41pm
Msg #485821

Ouch!! One of my favorites. I'm holding my breath ....

Reply by Christine/OK on 9/24/13 4:49pm
Msg #485823

Unconscionable to operate a business at a loss . . . :-/ n/m

Reply by walthtz on 9/24/13 4:52pm
Msg #485824

I would be happy to reduce my price when The companies have a package less than 50 pages & NO fax backs.

Reply by Linda_H/FL on 9/24/13 4:56pm
Msg #485825

$50 wouldn't even cover the cost of the

notarizations in the package here in Florida - never mind the cost of printing, travel, hourly rate for time....

LSI of all companies...what are they thinking??

Reply by Yoli/CA on 9/24/13 5:30pm
Msg #485828

2-3 yrs ago, used to get $150 from LSI for a regular

edoc refi, no fax-backs.

They don't call me since I moved here June 2011. My fees are too high and they have notaries in this area that work for less. Yeah, I guess so if they're now paying $50 fees! Must be those same notaries who are jumping on the $50 FASS signings ....

Reply by MW/VA on 9/24/13 5:40pm
Msg #485830

Shame on them! ;-( n/m

Reply by JanelWI on 9/24/13 7:30pm
Msg #485853

Reduce our fee why? For what?

Incomplete loan docs that get sent?
Docs with incorrect names and or spellings?
Docs sent with incorrect addresses?
Confirmations sent with disconnected numbers?
Confirmations sent with incorrect signing locations and street names?
Confirmations sent without the clear to close so they cancel at the last minute while I turn down three others?
Cancelled signings where the signing service and title fail to tell us all day so I sit and wait for docs that will never come and.... so that I turn down three more signings?
Docs sent cut off with incomplete margins?
Docs sent with multiple pages scanned together?
Docs sent with deceased person still on the legals?
Docs sent way too small to sign, let alone record?
Docs sent with POA and no instructions?
Docs sent and it is a reverse mortgage and I was scheduled for a standard refinance and the signing service does not know?
Being called by signing services that can't tell you who the lender or title company is?
Including QCD's with no mention of additional person that needs to be there to sign it?
Scheduling refinances with multiple borrowers and the signing service claims they did not know?
Scheduling a standard refinance and it turns out to be a VA loan with 184 pages in one package?
Including docs in the loan package with borrowers from another state?
Including contact numbers that don't pertain to the borrower at all?
Sending loan documents via email for loans I have not even been scheduled for?
Sending loan documents via courier to my door for loans I have not even been scheduled for?
Docs sent with incorrect dates? Like for example.... I am scheduled to sign borrowers today, but the docs are dated for Friday, but the borrower was told Thursday when I called to confirm?
Blanket instructions that don't pertain to the loan that is being signed causing confusion?
Having Signing Agent E&O, Notary E&O, BGS that includes global sanctions and every other hoop they can think of to have us jump through because the "suits" behind closed doors are bored...and "crap" rolls down hill?
Two part signing confirmation that gives me the contact info for the first part/person when I am doing the second part/person?
Two part signing confirmation for the wrong state?
Being told to go to signings even though the borrowers have not confirmed?
10 page blanket notary instructions that don't pertain to your state?
Two part wiring instructions for the wrong bank?
Incorrect vesting on mortgage and signature page that do not match the name of the borrower signing?
Being asked to accept expired ID?
Being asked to backdate?
Being asked to justify my fee after 20 some years?
Confirmation of funds due when the borrower's were told they were to pay nothing and the LO is not answering their cell?
After hour numbers from signing services that don't work, and they never call you back when you leave messages?
Signing services that do not support their signing agents, but happily take a cut of our fee and pay us 60-90 days later?
Not getting paid at all from signing services title companies hire and being told by the title company..."not our problem"?

....I could go on...but I will stop there....


Our notary commission will never define every aspect of what we do and what we need to look out for in this industry. Why? Because it is a tool we use as part of our job. It is not our "only" job.
They will get what they pay for....IF in the last 3 months I have seen a cornucopia of the above issues for which lenders, title companies and signing services are censurable for before I even GET to a signing....I don't think it is "US" they need to be looking at for reductions in fees/pay.

I think with all things considered above and more.....I will just keep my fees right where they are.

Reply by Linda_H/FL on 9/24/13 7:34pm
Msg #485855

Pat, exactly what type of job was it? Was it

a full loan package, or cash purchase (shorter), a modification (shorter still) - or one doc signing?

EMWTK

Reply by pat/WA on 9/24/13 8:17pm
Msg #485867

Re: Pat, exactly what type of job was it? Was it

It was a general reduction in fees to $50.00. There was no mention of a specific job. I assume REFI, ETC
They just said my fees were too high and if I wanted to get signings from them I needed to reduce my fees.

Reply by Christine/OK on 9/24/13 8:46pm
Msg #485869

Several months ago they said the same thing to me regarding

my fees being too high for the "average" in my region.

After a survey of fees and research, the numbers revealed that nearly everyone was at $100 or more for refi edocs - except for ONE lone person who advertises a refi at $50 overnight and $75 for edocs.

I sent LSI a reply indicating that I needed to know what mathematical formulaic computation that they were utilizing for the "average" fee in my region because all definitions of average in the Real World would not consider ONE person the average when there are many at the industry standard livable wage for performing the service.

They replied that if I wanted work from them I MUST agree to their fees.

I replied that I cannot, in good conscience, run a business into bankruptcy, especially considering the Federal Guidelines . . .

Reply by BestFlCloser on 9/25/13 8:50am
Msg #485891

I heard from someone at SL that they are being merged in with SL, which has been reducing fees in the past few months. I was told that my fees are too high, except when they need an experienced person to go out and close at 9PM during a storm. I got my fee which extras for late night. This will all shake out later on. It happened about 4 years ago and then bounced back. Let all the $50 folks take these jobs then find out how much they're losing, then it will stop.

Reply by Christine/OK on 9/25/13 8:59am
Msg #485895

LIKE!! :D n/m

Reply by John/CT on 9/25/13 6:20pm
Msg #485999

Meanwhile, I'm getting orders from other services paying me more than my base fee with LSI, working with them direcly. A mystery to me.