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Has anyone done signings with Lendmark Closing Services out of PA.?

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With all the horrible stories about people not getting paid, I just ignore all signing requests from new or unknown companies.

I just heard back from their scheduling department after reaching out to them in May (2021). They are interested in working with me. Hoping this turns out to be a win/win.

I was hoping to contribute to the forum by posting my experience from dealing with this company since there is not much out there. Unfortunately, it was not the outcome I expected.

So Thursday of last week I received a call from a rep from this company. She was very pleasant and asked if I could close a refi for them this past Wednesday. I asked basic questions, and she gave me a little background of the company etc., and told me she got my name from the NNA NSA site, which is nice to know the certification cost is justified. She also asked if I would lower my fee by $25 since I only needed to print one set of docs of less than 120 pages (they would email copy package to the customer), and NO scanbacks needed. So I agreed (but in hindsight, it was a flag). Later I received an email with the pertinent information and procedures needed. Everything seemed copacetic…

On Tuesday 6:30 pm I receive a call as I’m finishing my ride on the trail. The number seemed familiar so I answered it, and it was their representative. Of course, the first thing that crosses your mind is that there is a delay, cancellation, or postponement. But she went on to say everything was good and docs would be available for download soon. But then came the: “Oh, by the way”, the customer has an investment property that is being refinanced as well. A lot of things cross your mind at this point. Then I find myself having to ask / state the fact that: Oh great, another refi!. She says the file is at around 120 pages max (They already had lender docs so you all know what that means), but this one requires faxbacks though. So when she doesn’t cover the obvious, I ask if I will receive my regular fee for this one, especially since it will run well into the evening. The answer: Well, since you are already there, this is a simultaneous closing and the fee should be less (like ½ LESS!). I proceeded to explain that this IS NOT a simultaneous, but a totally different transaction altogether. The closest to simultaneous is doing a buyer / seller, or piggyback mtgs, etc., AND you are compensated an extra $50-$75 minimum! Of course, she would have to discuss this with her supervisor and call back. At around 7, I hear from her. They would not pay the full fee. I then asked if they would match the fee for the 1st refi, even with more work. No! I then asked if they are really a “TITLE” company?! Although they are, it felt like a SS nickel and diming me to death for their cut. And, I’m willing to bet the lawyer / owner still charges their full closing fees and very profitable commissions on the lender policies! Imagine if your [traditional] title companies treated you like that on days when you do more than one closing for them… Well Ed, since you are already here, and did one at regular price, we’ll just pay you half for the 2nd… Then the third (if lucky) they’ll just hand you $25, or maybe a gift certificate!… :laughing:

So at that point you have to make a decision, and based on the little wisdom I’ve picked up over the years, I decided to just walk away. My belief is that when relationships become murky and the “trust” factor is missing, you end up regretting it. But I’m sure others may disagree.

I hope this helps others out there that run into a similar predicament.

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Good for you Ed. They were taking advantage of you, without a doubt. Now aren’t you sorry you gave them a break from the jump???

When I had two loans signing with same people, my fee for each was my standard fee - the only thing I discounted was a travel fee for the second one - so my fee is $125 X 2 - $250 less $25 - $225 for two loans. Like you said - just as much if not more work - for half the fee? Yeah, no - not here -

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