Posted by cntrlcalntry on 7/21/06 12:01am
Msg #134372

Filling out loan apps.

I received a call today to do this and was wondering what the
going rate for this is. Travel time would be up to two hours each way.
Any feedback would be appreciated.
Thank you.

Reply by TitleGalCA on 7/21/06 12:07am
Msg #134374

Same as a signing appt.

Time and experience count. Set your fees and stick to them.

Reply by cntrlcalntry on 7/21/06 12:08am
Msg #134375

Re: Thank You. n/m

Reply by Becca_FL on 7/21/06 12:08am
Msg #134376

>>>Travel time would be up to two hours each way.<<<

Wow, do you really travel that far? Jeez, for me to go that far, I would ask for at least $275.

Reply by cntrlcalntry on 7/21/06 12:10am
Msg #134377

I have not gone that far as of yet, but if the price were right I would.

Reply by John_NorCal on 7/21/06 12:12am
Msg #134378

You know, I have a problem with this. What are the parameters of filling out this loan application. Who is stating the loan terms, etc.? I would like to know what the real estate commissioner thinks of this. Sounds to me like this is awfully close to performing an act that might require a real estate license.

Reply by BrendaTx on 7/21/06 12:17am
Msg #134379

Re: Filling out loan apps. John, it's becoming

quite common. I have not done them, but I think they are called Respa signings. Not sure though.

Reply by John_NorCal on 7/21/06 12:20am
Msg #134380

I haven't come across this yet. Oh well, I should have my brokers license reactivated by Sept. then I'm getting back into the fold. I get tired of the lazy a$$ loan officers who are unable or unwilling to do their jobs.

Reply by cntrlcalntry on 7/21/06 12:28am
Msg #134382

Re: Yes, this does require a real estate license. n/m

Reply by TitleGalCA on 7/21/06 12:32am
Msg #134383

Re: Yes, this does require a real estate license.

Cnrlcalntry...it sounds like you know alot about this?

Reply by cntrlcalntry on 7/21/06 12:38am
Msg #134385

Re: Yes, this does require a real estate license.

No not really just always looking for ways to expand or better myself.
Always love to learn something new everyday.

Reply by Jenny_CA on 7/21/06 1:58am
Msg #134421

I too have been asked but haven't done it . n/m

Reply by Ernest__CT on 7/21/06 6:52am
Msg #134441

Re: Filling out loan apps. (RESPA signings)

I've done them, love them, and will take as many as I can get!

As long as we don't have to provide answers which would put us into UPL, and we don't pretend to know about the financial details, we'll be fine. There usually isn't a lot to notarize.

Treat it just as you would any other signing appointment. Be ESPECIALLY pleasant! (You're always nice to the borrowers anyway, right?r) Be as patient and helpful as you can. There is always a possibility you'll be called to do the closing. If there borrower had a pleasant experince with you, ....

Reply by Dave_CA on 7/21/06 9:33am
Msg #134457

(RESPA signings) Nothing to notarize

at least on the ones I've done and I don't see it requiring a RE license as you really don't answer questions or give advice. Basically you are delivering the loan app. pointing out what needs to be filled in, where to sign and collection some documents that you return to the lender.
So, no RE license and no UPL.
If anyone disagrees I would be interested to hear the reasoning.

Reply by MelissaCT on 7/21/06 10:30am
Msg #134473

Re: Filling out loan apps. (RESPA signings)

I did one of these (I think it's the same thing) -- it's just making sure the pre-disclosure docs are completed & returned to the lender with the closing conditions: copy of DL, copy of tax return and/or recent paystub(s).

Reply by BarbaraL_CA on 7/21/06 12:15pm
Msg #134505

Re: Filling out loan apps. (RESPA signings)

I've not done any of these, but I would think it would be one way to be sure that the name on the loan application matches the name on the borrower's ID - thus, just "maybe" the loan/escrow docs will have the right name!

Reply by MistarellaFL on 7/21/06 12:19pm
Msg #134506

Good point, Barbara :) n/m

Reply by hcampersFL on 7/21/06 5:29pm
Msg #134554

I have done a lot of these and to be honest I don't enjoy them. The Br's always have questions and want me to answer before they will call LO. I don't. They don't seem to be prepared with the paper work that needs to be sent back. They always take a longer amount of time than a refi appt. and no one ever wants to pay you what your time is worth.
Just my opinion.

Reply by hcampersFL on 7/21/06 5:29pm
Msg #134555

I have done a lot of these and to be honest I don't enjoy them. The Br's always have questions and want me to answer before they will call LO. I don't. They don't seem to be prepared with the paper work that needs to be sent back. They always take a longer amount of time than a refi appt. and no one ever wants to pay you what your time is worth.
Just my opinion.