Posted by MORITZ - PETER on 7/31/09 12:55pm
Msg #298258

CLOSING MASTERS

I have received alot of bad about them and some good. All I know is I printed out 362 pages, (emailed the docs to the borrowers because we are going "GREEN" and saving the trees) the LO didn't do his job so I was there 3 hours, closing masters couldn't be reached, last minute on docs... no warning of size. Upped my fee to $170 and still no pay. The closing was on June 24th. It is July 31st. I received 5 excuses that they have not been paid by the lender or title company. Come on now, we all know we are on the HUD and checks go out after the 3 day recission. I have been doing this for 7 years and NEVER experienced a closing company giving me an excuse. This is my experience and am only warning people out there. Read the comments under my last comment and you will see cons to the company.
:} Lori

Reply by Riley/FL on 7/31/09 1:12pm
Msg #298264

I have a closing for them today. They are paying me an extra $25 for a 135 page FHA closing. I have worked for them before with no problems.

Reply by ME/NJ on 7/31/09 1:17pm
Msg #298265

He must pay people, other wise he would be gone by now.

I'm sure some are paid on time and others just have to wait. If you use the orange button you will get a ton of info, its up to you if you want to work for them.. I think they called me twice in the last couple months both times were EOM and I had things on the book already.

Reply by Glenn Strickler on 7/31/09 1:26pm
Msg #298268

Re: He must pay people, other wise he would be gone by now.

SOX is still around .......

Reply by ME/NJ on 7/31/09 1:32pm
Msg #298269

Re: He must pay people, other wise he would be gone by now.

Well some scammers never give up till there behind bars. Read CM comments 80% pay on time.. just know you're going to get big packages and may need to wait up to 60 days or longer.

I would get payment within 30 since I'm in NJ.

Reply by Jess/CT on 7/31/09 1:47pm
Msg #298274

I have had work from them in the past with no problems.

They hired me a signing in June & I inquired about pymt yesterday and was told the check went our yesterday. Hopefully it's on the way.

The problem is that I had to make a return trip to the borrower after she refused to sign the first time because she didn't want cash back and wanted them to revise the docs. I spent an hour with the customer before she changed her mind. I reprinted some docs and went for a 2nd visit the next day.

When I called Closingmasters, they agreed to pay me $75 for the first visit as well as the original fee my return visit once they revised the docs. The email stating the check is on the mail also informed me that I would be receiving $25 for the first visit because that is the
"trip fee as stated in our confirmation." So I lost $50 on the deal.

I chalked this up as a "teachable moment" to make sure I get written, rather than verbal confirmations from them or anyone going forward.

Reply by Cari on 7/31/09 3:04pm
Msg #298285

written vs verbal confirmations....rule of them is

never never never ever agree to close for ANYONE, without a written confirmation of your pay and assignment.

ALWAYS get verbals in writing, especially including increases and return trip fees - send a follow-up email and have your client confirm!

That way if they stiff you, at least you'll have written proof of what they owe you and for what exactly...in case there's court action...

Reply by Jess/CT on 7/31/09 3:06pm
Msg #298286

Re: written vs verbal confirmations....rule of them is

Sage advice, thank you!

Reply by tonya/AL on 7/31/09 5:42pm
Msg #298304

Re: written vs verbal confirmations....rule of them is

I did an assignment for them on 6/16 and got my check today!! woo hoo!

Reply by Ilene C. Seidel on 8/1/09 6:34am
Msg #298332

Geez just turned them down for a closing, glad I did. Thanks