Posted by Lori Kelley on 7/5/06 10:56pm
Msg #131021

Lawyer Loan Signing Rates in CA?

I am a new loan signing agent and was wondering what the going rate is for a lawyer/loan signing agent? I know that some agencies pay lawyers more money for a signing than other signing agents. I presume because I can answer some legal questions easier than others. Any input would help. Thanks!

Reply by LkArrowhd/CA on 7/6/06 12:15am
Msg #131027

Re: Lawyer Loan Signing Rates in CA? Are you a lawyer or a

loan signing agent? If your a lawyer I doubt you would be asking this question. I would also doubt a lawyer would be working through an agency. And what legal questions do you feel more qualified to answer in a set of loan docs then the average bear.... We have Attorney at Law BrendaTx, then there is TitGal practicing Title Law, you have Paw from Law Dogs, you have John Gonzalez Attorney at Law practicing on the board as well as Sylvia our Cookie Attorney out of FL.....We actually have many excellent lawyers on board.......

Reply by BrendaTx on 7/6/06 10:46am
Msg #131095

Re: Lawyer Loan Signing Rates in CA? Are you a lawyer or a

LkA was making a joke...none of us are lawyers...we don't explain the legal import of the docs, we simply introduce them and point out the salient factors of each.

FWIW - I have had a lawyer ask me to let him observe rev morts so that he might understand the process better. Ummmm...no....I have managed to avoid that. It's my bread and butter.

Good luck, however, and do not sell yourself short. If you'd like to open an office or two in Texas, you might clean up on Helocs, however.

A law office staff closing goes for $3xx in my town...title companies charge $3xx ...when I use this venue I pay the lawyer $1xx on the spot and keep the rest of the fee I charge for myself...and it's no problem getting those fees from title companies who understand Texas lawyers.

Four of those a month turned the occasional last minute signing service edoc assignment (pressuing me to do it in a parking lot or on the side of the street for $50 - $75 offerings) into a joke. Good signing services are happy to part with $3xx at EOM if I can get it done after hours...and I can. It's the going rate.

I'll leave the $75 ones to the gal who'll drive 40 miles for $50...she'll make enemies at the local title companies and I won't.

The lawyer doesn't hate me, the tc does not hate me for dragging in there at 4:45 pm and lawyers are happy to rent me an office space. As Joan Bergstrom says, "Work smarter, not harder."

Reply by Lori Kelley on 7/10/06 11:19am
Msg #132068

Re: Lawyer Loan Signing Rates in CA? Are you a lawyer or a

First, I am indeed a lawyer. However, I practice criminal defense work, which has nothing to do with real estate. Second, a friend of mine (non-lawyer) wanted me to do loan signings when she was not able to do them. This is purely a supplemental income job. One of the agencies she does work for has a higher rate for attorney loan signers and I wasn't sure why. Hence, my question on this forum. Third, it's not that I feel more qualified to answer loan doc questions than the "average bear," but maybe it has something to do with customer comfort to know that a "lawyer" is helping them through the large stack of papers. I don't know why some agencies might pay more, but catering to pereption goes far.

Although I appreciate you taking the time to respond to my inquiry, you have been less than helpful on the topic and more insulting to my character. As someone new to this forum, I hope that future experiences with other individuals do not follow this tone.

Reply by NCLisa on 7/6/06 6:52am
Msg #131041

The only lawyers that do real estate law in CA do not close loans. After the great quake and fire in the early 1900's, lawyers decided that no one in their right mind would move to CA. At that time, they gave up all rights to closing real estate transactions and turned them over the title insurance/escrow companies. So there is not a huge market for an attorney NSA in CA, because attorneys in CA are pretty inept at loan closings. In fact, even the ones that practice real estate law, do a lot of litigation because most real estate law is for non-disclosure, or they the draft those exciting CC&R's and other HOA docs, etc. I did an interniship at a big real estate firm in Oakland for 1.5 years while getting my paralegal degree, not one attorney there could draft a deed.

So if you think the CA escrow officers are going to be chomping at the bit to hire an attorney...NOT. As a former escrow officer, the only thing I ever saw an attorney do for a real estate closing out there, was to screw it up.

Reply by Kelly M Robertson on 7/6/06 8:28am
Msg #131057

Lori - you can email me directly

As you see my name highlighted, just click on that to get to my profile and there you'll see my email address.