Posted by Louisiana33 on 6/5/08 12:03pm
Msg #250134

Fees In-Bank Signings

A local bank contacted me and stated that they would have a number of loan closings in a few weeks. They do not have notary on staff. Since I would be working directly with the bank and not with a title company or signing service, how much should I expect to make per closing. I could either meet with the borrowers at the bank or meet with them in my office. In my area, North Louisiana, I normally make between $80 and 150 for local closings through title companies.
I have found that bigger companies (LFC and LSI) pay on the low end ($80) and local law firms and title companies pay $125 and up and generally pay within two weeks. However, I have never worked directly with a bank.

Any thoughts?

Reply by aatatusko on 6/5/08 12:20pm
Msg #250137

I'd ask them what they pay, you might be happily surprised...or not.

Reply by Les_CO on 6/5/08 2:31pm
Msg #250155

I've done many in-bank closings here for Wells Fargo. Meet the client and the LO at their local branch. I charge them what I charge everyone else.

Reply by Merry_CA on 6/5/08 2:59pm
Msg #250159

Yes, same fee as a TC. I too have done several at a local bank branch. I charge TC, banks and individual borrowers (with docs in their possession) the same fee apending on the type of package. Keeps things simple. I don't take work from SS.