When you receive the initial paperwork from the lender, forward it to me via email or fax. Please include the client contact information and your fees.
Upon opening a file, I notify the clients and mortgage contacts of my involvement as your offsite paralegal. I keep in contact with each throughout the transaction. I request that correspondence is sent to me directly, unless otherwise requested. If a legal issue arises, I will ask you to get involved or give me direction. Otherwise, I'll keep you updated on file status by email.
I will order the title search from your preferred searcher or title company. I do not order the search until you authorize me to do so, either upon opening the file or receipt of a commitment letter. I need your preference so I can handle each of your files that way. I also need to know your preference on full search vs. current owner rundown on refinance files.
I will collect the mortgage payoff information from the client within a couple of weeks of the expected closing date. I will order the same, once the closing date is confirmed. My calculation of the final payoff amount usually includes at least two additional business days.
When the title search arrives, I will forward a copy to you for legal review. I will prepare the title commitment, policy and CPL to forward to the lender with the other usual items.
Upon receipt of the clear to close, I will schedule the closing with all parties. I am capable of receiving and printing emailed closing packages. Upon receipt of the same, I prepare the HUD, closing statement and detailed disbursement instructions (showing the incoming funding check/wire, client's bank check and all outgoing checks you need to cut). As soon as they are completed, I will email you these items.
I will deliver the file to your office as soon as everything is in order. Very often, that isn't until the morning of the closing. I include a full unsigned copy package for delivery to the client at closing. I do my best to be available during closings, at my desk, in the event there are any questions or document revisions.
After the closing, I will pick up the file or you may deliver it to my office. If you are recording, please retain the original mortgage and leave a copy for me. If you need me to record, I can make the copy.
I will prepare and send the post-closing bank package within the time allotted by the lender. Some require the package during the rescission period, others do not. I retain a full signed copy package for the file. On the funding date, I will wait for you to confirm receipt of the bank check/wire before recording or sending out payoffs. If you do not receive the same by mid-day, please notify me so that I may call the lender to inquire. Within a week of closing, generally, I will send out the: mortgage broker copy package and check, final title to lender (if not requested with package), title copy and check to title company, title copy to client, and any other miscellaneous mailings. I will then deliver the file back to your office.
Well, that pretty much sums it up. I would appreciate the opportunity to work with you, so please don't hesitate to call or email with any questions. If you're still unsure, call me and we can discuss a discounted rate for the first service; that way, you can see how well it works for you and you won't feel like you're losing anything.
For this service, the following are items I will need from your office: letterhead in Microsoft Word - for any letters I prepare on your behalf, Federal Express or UPS account number, wire instructions and your current E & O declaration page. Click here to contact me.