Bank & Lender Representation: $850+
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Our mortgage attorneys act as settlement agents and represent banksm private lender, hard money lenders and other lenders with respect to any mortgage closing. Whether the lender is a large bank or a private lender and whether this is a first loan, refinance or line of credit, our lawyers provide a thorough yet timely review of the loan documents and can be ready to close in as little as 24 hours. Our fees are very competitive (which will make your borrowers happy) and are only $850 for residential mortgage closings.
For commercial mortgage closings, the fee starts at $1,000. The following services are included in the price:
- Review of the title commitment & survey
- Correspondence with the title company, the buyer’s attorney and the seller’s attorney regarding title problems
- Review and/or preparation of the loan documents (for private lenders that do not have standard loan documents)
- Preparation of the HUD 1 settlement statement
- Attendance, representation and acting as the settlement agent at closing
- Our attorneys also represent lenders with respect to the “payoff” of the loan. If your borrower is ready to payoff the loan, we can represent your interests for $850. Our services include the following:
- Preparation of the “payoff letter”
- Preparation of the mortgage satisfaction (or UCC 3 for coops)
- Correspondence with the borrower’s attorney, seller’s attorney (if applicable) and title company (if applicable)
- Attendance at closing, where we pick up CERTIFIED funds and transfer them to you.