Bloated Refinance Packages

@takenotenotaryservices :sparkler: Yes! :sparkler: It’s an easy process to implement at the time of the physical handoff to the FedEx or UPS employee.

:swan:

If you use a large enough rubber band, that won’t happen - and note, I said return package - signer’s package got clipped

If it works for you that’s great. I have a supply of those gigantic bands. It’s just a personal preference thing. I consider clips just part of printing costs.

@kellis3873 :tulip: Wonderful! :tulip: :hugs: Glad that’s helpful! :white_check_mark:

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:swan:

In my opinion they should have paid you the whole fee because it took 3 hours.

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In Texas most Refis and Heloc are required to take place in a law office, Title Office, or the Lender’s office. When it involves a law firm the fee is usually $50-75. I’m still seeing offers of $100. After the law office fees there’s not much left.

A Texas refi or heloc can hold 250+, and often includes advertising that I’m expected to print. The highest page count for one of these was 435 pages during COVID.

HELOC over 250 pages? Wow. Most HELOC I get are about 70 pages. But the instructions like to say this will take 20-30 minutes. I have signers who take 15 minutes just to confirm wire receiving details. I wish title companies would tell signers to be ready with that info. Slows down every signing because ACH number is not always an ABA number.

@jennjoneis Concur :100: percent!

:swan:

Wanted to share that I keep multiple size FedEx envelopes and UPS envelopes for shipping. Also find UPS envelopes helpful for shipping my personal returns from online buys. Also keep extra UPS and FedEx shipping plastic envelopes for outside of express mail packages. Also use those plastic envelopes for personal use shipping USPS. I usually order items beginning of year ~ mistake one year and ordered around Christmas holidays. Not sure what shipping locations in your area so get what is necessary for your maket. Good luck !!

I agree. I had a client last week that was relocating with his job and sold his house to a relocation company. They sent the paperwork directly to him. There was a 10 year previous residence form in the packet that took him 30-45 minutes to complete. He moves often with his job and had to search on his laptop to find the information they requested. It was frustrating to him and time consuming. The packet was only 36 pages but ended up taking 2hrs and 5 minutes to complete when it should have taken 30-45 minutes. Had title made him aware before the appointment he could have had all that information ready to go.

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Individuals who have experience in handling loan documents since the early 2000s may still recall the challenges faced during those signings. It was not uncommon to process a loan package worth $500,000 for a borrower with a credit score just above 500. Some signers had only ever received a loan from a pawnshop. Interestingly, nowadays, it is possible to secure a VA loan with a credit score slightly above 500. Furthermore, the lower the signer’s credit score, the more loan documents are required, often necessitating multiple notarizations, additional signatures, and detailed annotations. This places significant pressure on the loan signer to avoid any errors, making it a task not suited for the faint-hearted.

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Use rubber bands instead of binder clips - they’re cheaper :slightly_smiling_face:

They can cut the pages. Even the great big ones.

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@Bobby-CA Glad you have success for your professional work with rubber bands. :white_check_mark:

Over many years I’ve always utilized binder clips. Luckily, can locate large quantities on sale regularly.

The binder clips keep the document packages neat, organized, & easier for the package handlers to deliver intact!

:swan:

EXACTLY. No one has ever MADE me procure a witness. If the signer doesn’t have one scheduled, and I find out about that ahead of time, then I can usually take hubby or brother as a witness and, of course, I increase my fee for that. :slight_smile:

If you are getting paid $90 dollars for a package of plus 180 pages where is the cost benefit for you ? With paper and toner prices going up these title companies believe that paying you $90 is fine. These fees at one point have to be more reasonable. My take I’m out.

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@algalafa :white_check_mark: Agreed! :white_check_mark:


:swan:

@takenotenotaryservices :white_check_mark: Yes, absolutely! :white_check_mark:

Accepting Low-Ball Fees can generate a speedy downward spiral toward business failure . . . :prohibited:

Many Professional Signing Agents [PSAs] regularly receive the proffered Signing Orders [SOs] blasted out multiple times daily for $30 or $40 increasing $5 at a time from businesses like Mortgage Connect, CloseClear/Express Notary/At360, etc.

  • The PSA business owner is fully cognizant that these SOs will not reimburse them for their gasoline, toner, & paper. Certainly, there will be nothing left over to reimburse cell phone invoices, certifications, background checks, Federal & State Income Taxes (when applicable), etc., etc., etc.

The newest tack by CloseClear/Express Notary/At360 is that if you’ve extended a counteroffer via the APP, they’ll have their AI system contact you via phone & AI will refuse your counteroffer & then suggest a $5 increase over their blasted Low-Ball Fee.


Who wants to negotiate with a computer for a Low-Ball Fee that is increased by a mere $5 & that still won’t reimburse the Out-of-Pocket expenses?

Many are now simply hanging up when they hear it’s AI calling . . .


NOTE: If you need assistance with the determination of your Fees, Review this thread: Guideline for Creating Your Schedule of Fees.


:swan:

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Totally agree! They usually don’t tell you the page count until after you’ve agreed on the price. So, I always have to call the company back to re-negotiate the fee or turn back the order.

@cfletcher Agree :100: percent :trophy: with the following excerpt from one of your posts:

We both clearly recognize the reality that confronts each & every one of us every day. The identified “low ball offers” and “lousy” fees are obvious in our phones, email, and web portals.

Reality is the best paradigm to maintain within this business sector as it will lead to Success! :partying_face:


As I often express, Know Your Worth & then counteroffer with a Fee that is in alignment with the region for the Professional Services requested.


NOTE: For Notary Cafe members who may need assistance with the determination of Fees for your region, Review this thread: Guideline for Creating Your Schedule of Fees.


:swan:

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