Posted by MDNewbie on 7/12/05 1:01pm
Msg #51288

Do you contact the bwr when loan is cancelled?

I got an assigment yesterday that was posponed for today. I confirmed the app. with Ms. Borrower... I just got an email from the ss saying that the loan has ben cancelled and that they will let me know if it reschedules. I am concern about the bwr.. should I call her as a gesture of courtesy and good manners or just assumed that she already knows? TIA

Reply by SarahBeth_CA on 7/12/05 1:22pm
Msg #51303

I wouldn't call the borrower. My contract is not with the borrower it is with the ss/tc/or lender whichever one hired me. We are there to verify ID, collect signatures, initials, dates, and notarize for the hiring entity, that is where our responsibility is. The last thing a borrower (if it were me)wants is another call telling me it's cancelled especially if the one who cancelled it was me. Not only is it not our responsibility, it really isn't any of our business (said politely).

Reply by MDNewbie on 7/12/05 1:31pm
Msg #51310

I think you are right. Good perspective !!.. Thanks Sarah !!

Reply by Sylvia_FL on 7/12/05 1:46pm
Msg #51322

Re: Do you contact the bwr when loan is canceled?

I have had some cancellations, and after the time of the appointment I have had the borrowers call me asking me where I was as they had been waiting for me.

So, now when a signing is canceled I ask the company if the borrower is aware of the cancellation. If they say "yes" then I don't do anything. If they tell me the LO should have let them know, then I will call the borrower and ask if they are aware the appointment has been canceled. Sometimes they haven't known about the cancellation, so they will then call the LO.

Reply by IrisWA on 7/12/05 2:26pm
Msg #51331

Ditto Sylvia_FL -- n/m

Reply by Melody on 7/12/05 1:45pm
Msg #51321

Yes

"gesture of courtesy and good manners " is very well put.

Lots of TC/SSs do not call the borrowers. Most of the time when I call borrowers to say the appointment needs to be rescheduled, they have no idea. No one has called them.

I learned this the hard way.

I did a signing a year ago for a nice couple. They got a heloc many months later and got the signing. I called and confirmed. Then a few hours before the signing, I got a call from the TC saying the borrowers cancelled the appt. I thought perhaps they didn't like me.

The loan was rescheduled the next week and I got the call again. When I called to confirm this second appt, the borrowers told me they had sat home waiting for me for hours the week before. Turns out they had requested me for the signing because they liked me so much on the first loan.

Reply by Joan-OH on 7/12/05 2:03pm
Msg #51326

The last time I asked the cancelling party if the borrowers were notified and was told yes, I received a call @ 9pm from a VERY irate borrower who had been waiting for me since 6pm. Since then, I just make a courtesy call to make sure they aren't waiting for me. If they have any questions, I have them call their loan officer.

Joan-OH

Reply by CarolynCO on 7/12/05 5:11pm
Msg #51382

Joan,
I basically had the same thing happen. Original signing the Borrowers thought could be done in 10 minutes -- it was a 1st and 2nd. I didn't even make it to their house, but called because I was running a few minutes late and that is when I was told they had dinner plans and if it all couldn't be wrapped up in 10 minutes, not to come and to reschedule for 2 nights later. Of course, they made the dinner plans *after* my initial call regarding singing time, etc.

Well, TC said all docs had to be redrawn. The next day TC called and said they were not going to fund the loan after all and the rescheduled signing was canceled. Like you, I just assumed that if they weren't funding the loan, they would call Borrowres and advise. WRONG. The night of the *reschedule* -- at least to the Borrowers -- arrives and I get this nasty, irate call from Borrowers, with what would have been 1-1/2 hours after the scheduled signing had the loan not been canceled -- they were told nothing from the TC. After that, I call Borrowers for every cancellation.

Reply by Notarious Dave_CA on 7/12/05 2:34pm
Msg #51334

I usually call the borrower as a courtesy because it has been my experience that usually its news to them that the signing has been cancelled. However, ther have been times when I have not called the borrower because they have a 'tude.

Reply by SarahBeth_CA on 7/12/05 2:53pm
Msg #51339

Those are all good points. I will go with Sylvia's suggestion of asking if the borrower has been contacted.

Reply by MDNewbie on 7/12/05 5:13pm
Msg #51383

Well, I contacted the bwr

The LO had already contacted her. She was very upset with the Lender.. they have been postponing this closing since last week. The Lender is First Ohio Bank. She just vented.. I just listened :(. Let's see how this goes on saturday. Thank you all for your great advises , I learned something new today !!

Reply by Melody on 7/13/05 12:16am
Msg #51494

Give her lots of sympathy and.....

....and tell her you hope she tells the LO and TC that she wants YOU for the loan signing!