What is the basic normal pay for a Cash Out loan package with no notarization
As much as the client is willing to pay. There really is no such thing as “basic normal pay,” however averages depend on the market, the area that you live in, your experience, the number of other signing agents in your area that you have to compete with etc. And here in Texas you can’t do a Cash Out loan that doesn’t require notarization, at a minimum the Deed of Trust will always require notarization and there are usually several other documents that require notarization as well.
I know that doesn’t answer your question but depending on the company that is trying to hire me I may ask “What is the amount that you usually pay for this type of loan.” Occasionally companies will quote a price higher than what I was thinking of charging. And if the number they give me is too low I tell them “Well, my fee is $XXX and I won’t do a signing of this type for anything less than that” and if they want me they will pay it, if not they don’t and I move on!
My first knee-jerk reaction to “fee for cash out loan with no notarization” is
Zero - send package to borrowers, let them sign and send it back. Why get a notary involved at all??
I charge $100 to $125. Time to travel, How urgent it is, How many pages to print and if its one or two borrower.
More if two borrower. Usually all put together $100 to $125… I charge and they accept.
HMMM how does one get cash out without a Mortgage or Deed of trust?.
That’s what I thought, and they were only offering $45!!!
OP said “loan package” - did not indicate it was a real estate transaction…maybe car loan? Personal loan? Tax Loan? Private loan with no liens involved? Just some thoughts off the top of my head. But you’re right - if it IS real estate related, there’s a mortgage or Deed of Trust involved.
I am a NewB…What is a cash out loan? I had a request today, but they required the signing to be at an Attorneys office or Title Company. So I had to pass, due to me being a Mobile Notary.
Any information you provide would be helpful.