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Hi Jacqueline, Great question! I think it's important to further define some parameters to get some good answers.

In some title agencies a closer is expected to prepare the settlement sheet and obtain the lender's approval of said settlement sheet, make sure the file balances, make sure all payoffs have been updated and if they haven't been - obtain updated ones, prepare all title agency closing documents such as affidavits and deeds, print the documents - including checks, travel to and from closing, conduct the closing, notarize the documents, disburse the funds at closing  (for a purchase). Upon return to the office they might have to scan the package, fax/email copies of documents to numerous parties, send wires, send recording and even prepare an instant policy.

In other title agencies, a closer might literally, receive the loan package, print all docs, travel to/from closing, conduct closing, notarize, scan and/or overnight signed docs back to the office, done.

So... can you be more specific about the expected actions of said hypothetical closer? Please include if the closings are in office or out of office. If out of office, the average time spent traveling.

It's also important to know if the closer is doing primarily refinances or purchases, residential or commercial? Are they generally average, simple residential transactions, or complex transactions with extenuating circumstances? These things will effect how long you're at a the closing table. Personally, I can knock out a refi in 30 minutes from sit to stand. But I've also had complex multi-property, commercial transactions that took 8 hours +.

------------------------------
Cheryl Evans
Carnanco
Marketing, Technology & Operations Consultant to the Title Industry
[email protected]
Hire Me! www.carnanco.info
Free Content: www.cheryl.wTf
Online Community https://community.wickedtitleforum.com/
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Original Message:
Sent: 04-14-2023 10:44
From: Jacqueline Doud
Subject: Number of closings per week

Hi Jacqueline, Great question! I think it's important to further define some parameters to get some good answers.

In some title agencies a closer is expected to prepare the settlement sheet and obtain the lender's approval of said settlement sheet, make sure the file balances, make sure all payoffs have been updated and if they haven't been - obtain updated ones, prepare all title agency closing documents such as affidavits and deeds, print the documents - including checks, travel to and from closing, conduct the closing, notarize the documents, disburse the funds at closing  (for a purchase). Upon return to the office they might have to scan the package, fax/email copies of documents to numerous parties, send wires, send recording and even prepare an instant policy.

In other title agencies, a closer might literally, receive the loan package, print all docs, travel to/from closing, conduct closing, notarize, scan and/or overnight signed docs back to the office, done.

So... can you be more specific about the expected actions of said hypothetical closer? Please include if the closings are in office or out of office. If out of office, the average time spent traveling.

It's also important to know if the closer is doing primarily refinances or purchases, residential or commercial? Are they generally average, simple residential transactions, or complex transactions with extenuating circumstances? These things will effect how long you're at a the closing table. Personally, I can knock out a refi in 30 minutes from sit to stand. But I've also had complex multi-property, commercial transactions that took 8 hours +.

------------------------------
Cheryl Evans
Carnanco
Marketing, Technology & Operations Consultant to the Title Industry
[email protected]
Hire Me! www.carnanco.info
Free Content: www.cheryl.wTf
Online Community https://community.wickedtitleforum.com/

Original Message:
Sent: 04-14-2023 10:44
From: Jacqueline Doud
Subject: Number of closings per week

In one of your messages and someone else's reply, the thinking is 10-15 per week.  Let's work it backward to see if you still think it makes sense.

Let's say the closer has 35 productive hours of work per week focused only on processing files (which is probably too high).

At 10 closings for the week. That is 3.5 hours per file.  Is that reasonable?  Let's keep breaking it down...

Here is our agreed upon closing to do list. I'm going to put some time estimates against each item. Feel free to do this exercise on your own and agree/disagree with me. But this exercise will help you to figure out if 10 closings in a week is reasonable.

prepare the settlement sheet and obtain the lender's approval of said settlement sheet (possibly more than once) 1hr
make sure the file balances 15min
make sure all payoffs have been updated and if they haven't been - obtain updated ones 15-30min
order deeds 5min
print the documents - including checks 10min
conduct the closing & notarize the documents 1hr
disburse the funds & scan the package 30min
fax/email copies of signed documents to numerous parties 15min
misc other communications 25min

Total time spent: 3.75 hours

Hi Jacqueline, Great question! I think it's important to further define some parameters to get some good answers.

In some title agencies a closer is expected to prepare the settlement sheet and obtain the lender's approval of said settlement sheet, make sure the file balances, make sure all payoffs have been updated and if they haven't been - obtain updated ones, prepare all title agency closing documents such as affidavits and deeds, print the documents - including checks, travel to and from closing, conduct the closing, notarize the documents, disburse the funds at closing  (for a purchase). Upon return to the office they might have to scan the package, fax/email copies of documents to numerous parties, send wires, send recording and even prepare an instant policy.

In other title agencies, a closer might literally, receive the loan package, print all docs, travel to/from closing, conduct closing, notarize, scan and/or overnight signed docs back to the office, done.

So... can you be more specific about the expected actions of said hypothetical closer? Please include if the closings are in office or out of office. If out of office, the average time spent traveling.

It's also important to know if the closer is doing primarily refinances or purchases, residential or commercial? Are they generally average, simple residential transactions, or complex transactions with extenuating circumstances? These things will effect how long you're at a the closing table. Personally, I can knock out a refi in 30 minutes from sit to stand. But I've also had complex multi-property, commercial transactions that took 8 hours +.

------------------------------
Cheryl Evans
Carnanco
Marketing, Technology & Operations Consultant to the Title Industry
[email protected]
Hire Me! www.carnanco.info
Free Content: www.cheryl.wTf
Online Community https://community.wickedtitleforum.com/

Original Message:
Sent: 04-14-2023 10:44
From: Jacqueline Doud
Subject: Number of closings per week