Loan Application Signing - What to Expect?

Beginner's Questions
1

Hello,

I received a text regarding a loan application signing. It didn’t say how many pages but the signing is in my area. This is the first time I seen this type of assignment come through snapdocs. I understand it is a loan application signing but I was hoping for some insight on what I should expect from this kind of signing?

Thank you for your help :slight_smile:

1 Like
2

I have the same situation and came here looking for information. Did you ever do the Loan Application Signing?

3

I understand it’s now 3 years later but what did you find out about the Loan App Signing?

4

@oduore.notary Do a search here for “Loan Applocations” or “RESPA Signings” or “Initial Disclosures” …several older posts about them.

NOTE: They take time, are just as lengthy as the final closing package, and you have to collect supporting documents, which even though given prior notice, the people NEVER have.

Search via magnifying glass … Top bar to the right near your avatar

Hope this helps

P.s. correction…“Applications”

5

@oduore.notary Most members express that they find it difficult/NEARLY IMPOSSIBLE to locate the Search Function in order to access the wealth of information available within the database.

To be helpful, I’ve inserted an image for you & others [see below] to help members locate it to unlock the wisdom & knowledge of other members on the forums.

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SPECIAL NOTE ON LOAN APPLICATION SIGNINGS:

Confirming what was conveyed above by @LindaH-FL & adding the following:

  • If the Borrowers [BOs] decide NOT to proceed with the actual Loan Signing & complete the Loan => there will be a strong effort by the Loan Officer [LO], Escrow Officer [EO], etc. not to pay for the professional services you provided during the Loan Application signing appointment. ===>>> They’ll note that as they’re “not making any money on the transaction” that they’re unable to compensate you for your professional services. This is completely unacceptable. Well, that is unless you regularly receive business transactions from them & you’re willing to give away your time & cover the out-of-pocket direct expenses you’ve incurred.

It’s VITAL that the Confirmation document for the Signing Appointment include the special note that you will be paid in full for the professional services you provided along the lines of the following:

===>>> Fee is due and payable for services rendered at the time service is provided - regardless of/not contingent upon borrower(s) signing, the loan funding status, or the purchase/sale finalization status.

Also, when you query regarding the interval of time between the completed signing & the payment for those services - be certain to check if that is CALENDAR days or BUSINESS days (as there is a large delta between the two intervals of time).

Best wishes with your decision. :tada:

:swan:

6

Thank you for the information on how to search for topics. I was just being nosey and wanted to know what became of her specific situation.