Posted by CarolynCO on April 28, 2008, 6:57 am, in reply to "Re:Carol, I sort of agree with Wendy, sort of..."
67.166.15.191
Lisa,
I don't have a problem negotiating or renegotiating the price BEFORE the actual signing. If I'm told a the signing is one thing, and it's obviously something quite different when I receive the e-mailed docs, then you can bet that I will be on the phone. Additionally, I haven't received an overnight package for a number of months, but the same thing applies--if the loan is something other than what I was told, I am on the phone BEFORE performing the signing. If a reasonable fee can't be met, I then decline the signing and they have an opportunity to reassign it.
What Wendy is doing which is completely unethical and unprofessional is to perform the signing and then "hold the docs hostage" until she receives a higher signing fee.
--Previous Message--
: Yes, Carol, the time to negotiate a fee
: is before the signing, however, when
: the fee is negotiated for a job and
: the job is something else, then Wendy
: is right to renegotiate. Last week I
: had a signing where I negotiated the
: fee for a single refi...turns out the
: signing was a reverse mortgage, 1st
: AND 2nd. I ask very specific
: questions when discussing a job. I
: NEVER negotiate based on the number of
: pages. I ask the caller WHAT TYPE OF
: LOAN IS THIS? Is there a 2nd
: mortgage/HELOC? Are there fax backs?
: I ask a whole gammet of questions. I
: guess the one I didn't ask was if it
: was a reverse mortgage but I DID ask
: if there was a 2nd mortage/HELOC with
: the 1st. PLUS, the job was 40 miles
: one way. My fee should have been an
: additional $50 based on the type of
: loan it actually was. So while I
: wouldn't hold docs hostage, I will
: make it crystal clear to this SS, who
: I've done several signings for (always
: paid), that if I negotiate a fee based
: on a job and the job turns out to be
: something else, they will get an
: immediate phone call with a raised
: fee. They can either except the new
: fee or take back the job.
:
: --Previous Message--
: The time to negotiate fees is *before*
: the signing -- not holding the
: documents hostage for a better fee
: *after* the signing. I suspect this is
: the case because why would you hold
: the docs hostage before the signing
: when all the TC, SS, etc. would have
: to do is find another signing agent to
: carry out the signing.
:
: --Previous Message--
: Anybody who actually knows me and has
: worked with me understands my
: position. It is not unprofessional to
: expect SS and title companies to pay
: us for us services in a fashion that
: meets our needs as well as the
: borrowers' need to have the loan close
: on time. Do you really mean that you
: have NEVER called an SS or title
: company to renegotiate your fee after
: finding out that the signing was
: either more complex or included other
: loans in the package? I find that
: very hard to believe. We are small
: business people and it is our duty to
: ourselves to make sure that we stay
: afloat. It is not unprofessional to
: watch our bottom line and not let
: others take advantage of us. I have
: never been accused of delaying a loan
: or causing a problem. You sit very
: highly perched on your branch of
: "professionalism." You
: really shouldn't cast stones where you
: don't have all of the information.
: That in itself is not a very
: professional stance.
:
: --Previous Message--
: To even imply that you hold documents
: hostage - regardless of the amount of
: time done so -reflects on
: unprofessionalism and is totally
: unacceptable.
:
: --Previous Message--
: Regardless of what Paul says, I have
: often refused to send docs back if the
: SS or lender has not been truthful on
: their end of the deal. I always get
: the fee renegotiated before the
: shipping deadling for that day, so
: they aren't late, the loan closes on
: time, and I don't feel cheated on my
: end.
:
: --Previous Message--
: They must have meant the loan amount!
:
: --Previous Message--
: Don't you have this kind of false
: truth?
: I had an SS tell me that it was a
: "little HELOC", only to find
: out it was a Countrywide with 104
: pages. I held the docs hostage for a
: better fee. My fee was raised and
: they went out same day as if I'd never
: had the problem. You would think that
: now since things are slow that the
: SS's would start being truthful and
: keep us moving in a straight line.
:
: --Previous Message--
: My heads up for this company: What I
: was
: told on the phone ("about 80
: pages") turned out to be 104.
: There was no misunderstanding - the ss
: sent the docs to me himself so he knew
: better.
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