It's an old practice and not all closers get tipped.  Normally you'd see it on large, lengthy commercial transactions where the closer would be stuck at a closing for say 4-8 hours on one deal.  And if the closer was doing additional "pick ups" from closings.  In some cases, sending out a mortgage for recording or discharge etc.

And, closers in NY are "witness only" closers in NY.  Meaning, they WATCH the bank attorney close the loan and they are there as the eyes and ears of the title agency.

Now that NY finally has required licensing of the title insurance industry, unless it's a refi - most closers are going to be licensed title insurance producers in order to work for a title agency and more than just a notary public.to post a reply: login - or - register