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dfye@mcttelecom.com
New Hampshire
681 Posts |
 Posted - 11/19/2006 : 10:52:38 PM
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"For one thing - nobody (lender, broker, T/C) WANTS a no-sign, obviously. They all try to avoid spinning their wheels on something that NOBODY is going to be paid for. (Well, except the appraiser.)"
This statement is incorrect. I have always been paid for no-signs. On some occasions, I only got compensated half fee and on a rare occasion was not compensated at all. I do not contract with the non payers any more.
"I can't even remember the last no-sign I had - it's so rare, I don't think about it. I don't charge for it. I don't consider it an issue, just something that happens once every blue moon."
Please rethink on charging for no shows. You really can be compensated. You SHOULD make it an issue. You are cutting yourself short by not charging. From reading your posts, you are a very intelligent individual eager to make it in the signing industry. You can and should be paid just for your efforts.
"I want the T/C to choose ME, so I have to present some kind of added value to choosing me. THIS is one added value I can give them - by not being a 'negative' to the cash-flow."
You alone are the "Added Value". Don't worry about the T/C's cash flow and focus on how your cash flow can grow. Their cash flow is not your problem. They either can pay or they can't. If they do, that's great, if they don't, move along. Again, by not charging, you are cutting yourself short but you are also cutting off notaries who could actually use the money. Title companies CAN afford you. Just picture them sitting back laughing at you while they collect your fee that you did not charge. In a nutshell, YOU ARE VALUABLE no matter what.
"That's my business decision - and every business owner gets to make all their own decisions. =)"
Learn from the mistakes of others - you can never live long enough to make them all yourself. (The Best of Bits & Pieces, 1994.)
Legal Eagle Para Professional Services |
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Renee
Michigan
549 Posts |
Posted - 11/18/2006 : 7:10:32 PM
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Hmmmm - I have a completely different take on this. This part in particular:
But half way through, the paperwork (note & mortgage) did not line up with what was adv to the borrower by the loan officer. By now I have been there for about an hour or a little more.
The Hud and and the Note should be the first and second document you present. These are the 'deal-breakers' - they contain all the terms of the loan, and all the money being transacted. There is no reason to spend over an hour w/ a borrower before they've even seen the Note.
I also don't agree with the more/less 'conventional' perspective regarding trip fees. If you want to work directly with T/C's, I think it's to your benefit to re-think this.
For one thing - nobody (lender, broker, T/C) WANTS a no-sign, obviously. They all try to avoid spinning their wheels on something that NOBODY is going to be paid for. (Well, except the appraiser.) I can't even remember the last no-sign I had - it's so rare, I don't think about it. I don't charge for it. I don't consider it an issue, just something that happens once every blue moon.
I want the T/C to choose ME, so I have to present some kind of added value to choosing me. THIS is one added value I can give them - by not being a 'negative' to the cash-flow. On those rare occasions when I get a no-sign, I can look at that amount of money 'lost' and balance it against the total income from that client, and it's ALWAYS worth it.
That's my business decision - and every business owner gets to make all their own decisions. =)
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dfye@mcttelecom.com
New Hampshire
681 Posts |
Posted - 01/14/2006 : 10:43:23 AM
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Way to go, girl! Insistence is a valuable necessity.
Legal Eagle Para Professional Services |
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Belle
20 Posts |
Posted - 11/04/2005 : 06:08:27 AM
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YOU GO GIRL!!!quote:
Originally posted by SelectProcessing
I facilitated a sigining for NREIS the middle part of October. It was edocs and a good distance both ways. I get to the signing the borrowers are great. But half way through, the paperwork (note & mortgage) did not line up with what was adv to the borrower by the loan officer. By now I have been there for about an hour or a little more. I adv the borrower no problem. We'll get that corrected with NREIS and lender and I would be back. I immediately contacted NREIS right there at the table to advise.
Now yesterday NREIS calls me for the same signing. I ask about me full fee for my time, travel, printing--all of that for the last time I was there. Could they include both fees on the confirmation they planned to send over? After about 4 people call me to say what they can do---from $25-$75 being the maximum that they would be able to pay.
I advised the vendor manager that was not acceptable as I had spent so much time there,printing,travel, and again my time. Afterall, I did what I was contracted to do therefore I expect my full fee. He then says well you signed a contract to except $50 should this happen. That is the best we can do. I advised him that typically those fees are negotiable upon task. Thus I expected no different from this company. Afterall, I make exceptions to accomodate this company which I might now have reservations about doing in the future. THe manager then tells me that he can fix it so that I don't have to make any accomodations for NREIS by never sending me anymore business.
I told him it was unfortunate that a million dollar company like NREIS would nickel and dime me a small enterprise over the full fee. In the process terminating what had been a very mutually beneficial relationship. I can not nor will I compromise the value of my time, experience, expertise, and knowledge because some manager decides that he can say or do anything and get away with it because SA are desperate. Fortunately, I have the support of several area title companies. So I happily told that Manager to delete me from their database and never call me again. My time is worth every penny from cancellation to an actual completed signing.
Do you know this company had the nerve to call me today---and request the same rescheduled closing that they refuse to pay me my full fee for the original signing that was cancelled. I am frustrated that there was absolutely NO flexibility, NO consideration, nothing JUST that's it. We are the BIG DOG take it or leave it. Well, I left it. BIG SMILE
NOw that I am through venting....back to signing for GREAT companies who know how valueable I am!
Markita-MI
D.R. Mayfield |
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SelectProcessing
9 Posts |
Posted - 11/03/2005 : 12:08:21 AM
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I facilitated a sigining for NREIS the middle part of October. It was edocs and a good distance both ways. I get to the signing the borrowers are great. But half way through, the paperwork (note & mortgage) did not line up with what was adv to the borrower by the loan officer. By now I have been there for about an hour or a little more. I adv the borrower no problem. We'll get that corrected with NREIS and lender and I would be back. I immediately contacted NREIS right there at the table to advise.
Now yesterday NREIS calls me for the same signing. I ask about me full fee for my time, travel, printing--all of that for the last time I was there. Could they include both fees on the confirmation they planned to send over? After about 4 people call me to say what they can do---from $25-$75 being the maximum that they would be able to pay.
I advised the vendor manager that was not acceptable as I had spent so much time there,printing,travel, and again my time. Afterall, I did what I was contracted to do therefore I expect my full fee. He then says well you signed a contract to except $50 should this happen. That is the best we can do. I advised him that typically those fees are negotiable upon task. Thus I expected no different from this company. Afterall, I make exceptions to accomodate this company which I might now have reservations about doing in the future. THe manager then tells me that he can fix it so that I don't have to make any accomodations for NREIS by never sending me anymore business.
I told him it was unfortunate that a million dollar company like NREIS would nickel and dime me a small enterprise over the full fee. In the process terminating what had been a very mutually beneficial relationship. I can not nor will I compromise the value of my time, experience, expertise, and knowledge because some manager decides that he can say or do anything and get away with it because SA are desperate. Fortunately, I have the support of several area title companies. So I happily told that Manager to delete me from their database and never call me again. My time is worth every penny from cancellation to an actual completed signing.
Do you know this company had the nerve to call me today---and request the same rescheduled closing that they refuse to pay me my full fee for the original signing that was cancelled. I am frustrated that there was absolutely NO flexibility, NO consideration, nothing JUST that's it. We are the BIG DOG take it or leave it. Well, I left it. BIG SMILE
NOw that I am through venting....back to signing for GREAT companies who know how valueable I am!
Markita-MI |
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Unbelieveable!
