First Loan Signing with Loan-Closers

Hi, I just got my first ever loan signing with Loan-Closers but I’m unsure exactly what the pay is? They have quoted this in the email they sent me.

Basic fee $80.00
$40 (Partial Docs)
$60 (Reverse Application)
$45 (Refinance Application)

So do I only receive the $80 or the rest of the fees as well?

Those are their payments for each of four different type jobs. They are unacceptably low.

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Thank you for your response. Since it is my first signing I really want the experience what do you feel is a fair amount?

I agree with newberry. Those fees quoted to you are extremely low. Pass. . .
If you are not getting at least $75 for a given signing, best leave it alone. You’re not profitable unless the job is very small and very close to your home base. After you’ve gotten some experience and reputation, raise your acceptable fee to $100.

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Thank you for the response Bobby. I know the $80 is low but it is my first so after I get some more experience I will be negotiating a higher fee. Any companies you reccommed?

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Good for you, Cindy. Like you, I took them all in the early going to get experience, build reputation and get some $$ flowing in my direction. My good work (and attitude) paid off and I’m sure it will do the same for you. Companies to recommend? I get more offers and work from Signature Closers than anyone. You’ve gotta be quick on the draw to grab their offers but, eventually, you’ll get through. Most of the jobs I do for them (the company is huge) are $90 to $110 but occasionally I get a higher negotiated fee if I explain the need properly. They typically want scans too, but I suffer that because they pay promptly and don’t hassle me if I should (God-forbid) make an error or oversight. I just fix it and move on.

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I ADORE Signature Closers! They keep me working consistently and they pay me what I counter almost every time!

Cindy-Congrats on your first signing! If I were you, I’d ALWAYS negotiate a higher fee. I know the “newbie” feeling and apprehension but it’s always good to establish your base fee amount in the beginning, so that your clients know what to expect. Best of luck to you!

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Thanks Bobby and Sealedthedealnotary. I have already sent Signature Closers my application, just waiting to hear back from them. After I finally got my documentation together for everything I started applying to companies, sending inquiry emails, and signing up on signing platforms.Some of the title companies have rather large applications and more lengthy process so I will gradually work on those while I try to get more loan signings from the signing platforms. I have noticed that jobs are gone in seconds so I was happy to finally get one. Luckily I have a background in Real Estate so some of the documents are familiar to me. I’ve also executed so many lease contracts with multiple addendums that it’s really a matter of familiarizing myself with the loan documents and of course notarizing everything. I’m excited but kind of scared at the same time lol

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I’ve also wondered the same thing. By the way, they just increased the fee to $80 last week. It was $60. I declined several assignments and responded with pay too low, gas prices have increased, inflation…

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I actually loved working with Loan-Closers, sadly they do not have as much jobs in my state as they use to but they were prompt and negotiated fees.

Wow $60? I saw what the customer is paying for closing costs and they paid $135 for the notary so they are taking a large chunk. When I called to confirm the appointment with the customer they asked if I could also notarize a document for someone else. They asked me to leave my business card because they knew other people looking for a notary. so it could lead to additional business.

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Always clarify before doing the signing. Can’t negotiate later.

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The volume with loan closures can get really high so I don’t think $80 is bad for your first assignment. Do an excellent job and they’ll continue to use you. I’ve made over $2000 in one month before from loan closers.

$80 is the fee for that one.

If they ever call you on the phone for a job they’ll pay more. That seems to be the case with all of the signing services. What I haven’t quite figured out is why they pick some signings to call on the phone and will just blast out the rest. I’ve asked the schedulers this question before and have only received vague answers. It must be a big secret :slight_smile:

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I haven’t had anyone call me yet I wish they had. This whole email blast thing is frustrating. I’m trying to figure out how people take them so fast. Does Loan-Closers have a moblie app I’m not aware of?

I just wonder how the LSS ( Mark Wills) graduates are doing ?
They spent Big money paying him for the six figures dream plus equipment and the market is so slow for everyone, I just wonder…

I didn’t take his training though I had seen it advertised online. I watched a video of him doing a closing and it just seemed so unnatural it was off putting.

How did you sign up with them? I don’t see where we can register.

If you go to their website there is a tab for Notaries to sign up.