Posted by caroleMI on 9/27/05 12:56pm
Msg #67608
Would you sign this contract? I wouldn't
We pay $75.00 per closing that is conducted within a fifty mile radius of your home or office. For this, your responsibilities include:
• Receive a document package from the Title Company (approximately 12 pages by Fax).
•Receive the loan package from the Lender by e-mail or over night delivery.
• Make copy of the entire loan package for borrower prior to closing, NO EXCEPTIONS.
• Witness/notarize the specified documents at the borrower’s home or designated closing site.
• Double check the package for accuracy and completeness.
• Answer questions in regard to the purpose of each document in the package if requested by the borrower.
• Send the completed package back as directed using pre-paid overnight service, and within the next business day of the closing.
• Fax confirmation pages to Statewide Document Services by 9:00 AM (local time) the day after the closing.
• We do not pay cancellation fees. If you arrive at the closing and the borrowers are not there or do not want to sign you will be compensated $50.00. However, you do still need to contact us by either of our after-hours emergency numbers, (317) 626-5551 or (317) 591-5551, from the closing to advise us of the situation.
• If you do something wrong at the closing that results in the loan not closing you will not be paid unless you are able to right the situation in a timely manner. Typically problems that can be resolved include: failure to have all documents signed, failure to collect a check when you are directed to, taking a check when you have been directed not to, etc.
• As the closing agent you are there to explain the package and witness the signatures, you are to make no legal judgment of any of the documents. The packages are prepared by professionals and in accordance with local and state regulations.
• Learn and know the rules and regulations in your state.
• You are NOT to offer opinions in regard to the Lender, Title Company or terms of the loan. If the borrower is dissatisfied with the terms of the loan, refer them to their loan officer.
• Do not go to a closing without the complete closing package in hand. Always call us first.
• If you cannot close a loan let us know as soon as possible.
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