I am a new and recently got a request to complete a Loan application/Initial Disclosures, does this mean I will be helping someone fill out the initial mortgage application ? Would this be considered a small package ?
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No, you’ll just get their signatures on pre-filled documents and picking up supporting documentation (which can take forever as the people never have the docs ready).
Make sure you have a number to call for questions from the table; be aware this can take as long as the final signing- price accordingly and don’t let them tell you “we’ll pay you when the loan closes and we promise you the final signing”. My policy was payment in 30 days or less
I won’t go into fees.
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Thank you so much for this info! And for letting me know what they might request from me 
How much is a typical fee for something like this ?
When I was new I utilized YouTube a lot. For example, in your case, I would search, “How does a mobile notary complete a loan application”. You’ll see a bunch of videos explaining and showing you how it’s done.
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Thank you, yes, I have been on YouTube a lot! This one I did search but it was not brining up this particular scenario, Linda was able to clarify.
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The fee you charge is entirely up to you. You will be printing but probably only one copy, at least in my experience that’s all I ever had to print. I used to make an extra copy of the good faith estimate for the borrowers for their review with their loan officer.
I used to charge the same fee for these that I did for a regular refinance signing because the packages for any applications I did were just as large as they were in a refinance. Factoring in having to wait for most people to gather the information that had to be sent back, that kind of time had to be taken into account. I remember one I did I had to collect Bank statements, and while I was sitting there the guy had to run to the bank and get signed bank statements from his bank. LOL
Most of the time you have to collect mortgage statement, Bank statements, pay stubs, homeowners insurance, and in the event that they’re paying down a lot of debt you may have to collect credit card statements and Loan statements. Again most of the time the people are told in advance what to have together, does not mean they have it together when you get there.
Should you accept an assignment like this, I would ask your hiring party to please send you a list of the documents they want collected and don’t leave it up to chance. Best of luck to you
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@leandrocrooms4 Sorry … No you don’t help them fill out an application for a mortgage … The app and disclosures are all filled out when you get them … You merely habe them review for accuracy (discrepancies or errors directed to their loan rep), they sign and you collect the supporting docs to return with app.