I heard from a very good source today, the buyer's sign all their docs online and you will RON the mortgage or DOT. That's it. You have to verify, record and notarize 1 paper for a whopping $25.00. You do not explain anything except see their DL, give them an oath and watch them sign, then you use an electronic seal and do your portion, have to maintain the record on a thumb drive or CD. Takes all of 5 minutes.
Your platform will run you about $500.00 a year and then each time you notarize I believe is a $2.50 fee, although not certain. We are not Notary Signing Agents explaining anything.
I cannot live off that $25.00 - the fee and pay all of that and absorb the risk.
people really have to think about jumping on board for this, it's not doing loan closings at all.
Just what I heard from someone who took training, but didn't buy the platform yet. |
