I have been closing loans on my own and as a title company employee since 2003. I was taught how to close a loan by an attorney that wanted to make sure I knew everything about a loan package. Since 2003 I have closed close to 1,100 loans. Please keep in mind there have Been times when I only did loans on an infrequent basis.
For me, a purchase is about the buyers. I tell everyone in the room that I am going to focus the next 25 minutes of my attention on the buyers and their important transaction. I tell them that they are free to stop me at any time if they feel i need to explain something better, but I promise them I will deliver one of the most efficient and informative closings they have even seen. I then deliver on my promise. Over the years I have learned the ins and outs of packages to the point of being able to tell a story and make the experience fun. Most brokers will actually time me to see if I can pull off a signing in 25 minutes. Soup to nuts a purchase is around 35 minutes (I have to make copies while the keys are exchanged, but I am making copies in 25 minutes) and refi’s take about 20 on a bad day.
I also have a lot more tools available to me because of the work I have done. Because I currently work for a title company, I am able to do closings on properties that I have done the abstracting, and title policy preparation during the title process. I also have the experience of handling the post closing process. The more you know about all the different areas of the process, the more it improves your closing skills.
Also I close every loan the same way. None of the document descriptions are treated differently when I am working on my own as a an employee of a title company. The lawyer who initially taught me how to close a loan made sure I knew how to close based on the mechanics of the transaction. All I do is point to the facts and get the signatures. I am willing to answer question if anyone has them. Especially how I explain docs.
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