Posted by HisHughness on 4/3/06 1:53am
Msg #110490

Need some input, please

Recently I was asked by an SS to agree to do signings for a title company near me. The proposal was that I would go in, do back-to-back cluster signings, and simply report back that the loans had been signed. I did not have to establish a file for any signing, send off a completed packet, or make any confirmation calls. Nor would there ever be any e-docs, with their frequent headaches, time demands, and inevitable busted deadlines by title companies. I gave the company 25 percent off my in-county rate.

If anyone else has experience with this kind of arrangement, I would appreciate hearing from you by e-mail; there are a couple of questions I'd like to ask. The address is [e-mail address].

Thanks.

I note that CaliNotary is still the smartest smartass I know.

Hugh

Reply by Julie/MI on 4/3/06 7:55am
Msg #110511

Hugh, while you wanted a directed email, I have to run and don't have the time.

I did that about 3 years ago at month end thinking I was a smart cookie. Back to back closings in the comfort of a title company, the $$$$ were going through my head.

Well, only 2 ended up closing out of the 6 I thought I had. It was summertime and people brought their children and it was packed with mortgagors who were not going to be signing that day. Even the loan officeres were there. I cried with the closings I turned down. I lost money.

I am sure some have had a positive experience, but I personally will never do it again.

Reply by kkdmiddleton on 4/3/06 8:29am
Msg #110514

Hugh

I did this last Friday with a local TC. I was scheduled to do three closing in an hour, well same old story, docs weren't ready, the bo didn't show. I'm still paid for my time, but I didn't have to do anything for it. I would recommend that you negotiate (? can't spell today) with the TC prior to going in so everyone knows what to expect. I got paid 100.00 for one hour for doing nothing. I didn't complain.

Reply by BetsyMI on 4/3/06 3:12pm
Msg #110660

I do something similar although they don't seem to be able to schedule very many back to back. Which means, one here one there. Only three times have I had two back to back closings.

However, I like the company, there are no required calls to the borrower, docs are always ready for me, no faxbacks, no preparing docs for fedex or UPS, and they hand me a check when I'm done. Haven't had a single no show yet. It's been a real filler for a lot of empty time slots since all are during the day and haven't yet interfered with a better paying closing. Good luck with yours.

Reply by Beth/MD on 4/3/06 3:43pm
Msg #110672

I work with a particular local TC this way on a monthly basis. They do try to schedule appts. close together but it doesn't always work out. That said, they're close enough for me to just pop when needed. We've been working together long enough that they try to accomodate my schedule.