Got a phone call from my favorite title company, one that I have fee agreement by zip code with. They ask if I'm available the next day at 2:00 p.m. at semi-distant location where my standard fee is $175. I immediately say yes, I'm available and they say, not so fast...
They say this signer is signing for FIVE refi loan packages, 4 rentals and his own home all at once. What would my fee be? I am a little floored and pause a few seconds and say what do they think the fee should be? They said they weren't sure, so I ventured $500. They said OK and would ask to get the fee approved by the higher ups.
Long story, short it all happened. The rental packages were all less than 100 pages and owner package was 150 pages - not bad.
I figured the time spent with travel was equal about 6 hours (including 2 hours at the table) so I came out just fine. Each package had a $100 signing fee, so for this location I think they got a deal also.
How to you set fees with multiple loan packages?
Thanks. |
