Posted by CopperheadVA on 9/12/06 2:17pm
Msg #145526

Pre-closing appt. - how much to charge?

I just got a call asking if I could go out and get some initial docs signed at a borrower's home. It's about 15 docs that would be overnighted to me. My take is that this is the beginning of the loan process and they want a 1003, Good Faith Estimate, and other standard disclosures signed. I have no idea what the going rate is for that - I think it's been discussed here before, but I could not find anything with the search terms I was using.

How much time does this usually involve, since the borrowers may have to take time to look up info for the 1003, and for those of you who have done this type of appointment, what do you charge?

Reply by Jersey_Boy on 9/12/06 2:21pm
Msg #145528

In my experience, all the paperwork is pre-completed. Borrower just signs 1003, etc. The LO filled everything in over the phone with the borrower. There are usually some additional docs to go back to the lender (ie bank statements, proof of id, proof of insurance, etc).

I typically charge 2/3 my regualr loan signing fee for this type of signing.

Reply by Ilona_OH on 9/12/06 2:21pm
Msg #145530

I usually get around $85. Good luck and don't get wet! n/m

Reply by Regal/NC on 9/12/06 2:54pm
Msg #145539

If ONLY 15 pages $75. If entire RESPA package, $100.