How much money does a title closing/settlement agent and a loan originator make?

Depends on the size, shape, and scope of the loan. The larger the loan, the less I charge. The same way with the shape of the loan. If it%26#039;s A-paper and they give me full documentation, I%26#039;ll charge less, because I have to do less legwork. On scope, if it%26#039;s a purchase transaction, it depends on who pays closing costs. If the seller works in a 6% concession, I%26#039;ll charge what the law allows. Why? Because the entire idea behind a seller concession is that the seller is saying %26quot;I%26#039;m agreeing to put 6% toward closing costs, so anything less than 6% is a bonus to me.%26quot; Now, my state has a 5% rule, so the seller usually comes away happy. Typically, I will charge a total of 2% between origination and yield spread, adjusting for size, scope, and shape of loan. I%26#039;ve charged as much as 3%, due to a smaller loan with a bad credit situation that I had to jump through a bunch of hoops to get done. Some will say 1% is enough, and charging more is overcharging. I say bollocks. I charge what I charge because I know what I%26#039;m doing, and I%26#039;m very good at what I do, and in this industry, you get what you pay for.

How much money does a title closing/settlement agent and a loan originator make?

There is really no answer to your question as each loan is different and some are based on the sales price of the house.

There is a scale of fees for closing cost paid to the title company as well as the escrow closing.

Some title companies have their own escrow officers therefore you do not have to go to an outside escrow as you can combine them into one, so the cost is less in doing this.

As for the originator make that also depends on the loan itself. Normally they make 1-2 points per loan,some are upfront where the buyer or person being refinance pay an some are received from the lender based on the program that the buyer or person being refinanced select.

You will find these fees on the Good Faith Estimate (GFE) each mortgage broker should issue one within three (3) days of taking your application. Makes sure that your mortgage broker explain these fees to you,even if you have to go over them more than once or twice.

I hope this has been of some use to you, good luck.

%26quot;FIGHT ON%26quot;

How much money does a title closing/settlement agent and a loan originator make?

It actually depends on what state you are in. As a licensed mortgage broker in Texas, I can tell you that title fees are regulated by the state, so most title companies are pretty comparable. As for a loan originator, if they are charging you more than 1 point (1% of loan amount), you need to go somewhere else. I usually charge less than 1% to the customer, because 1) it is a competition, and 2) too many fees make you appear greedy.