Posted by CarolynCO on 7/30/05 1:16pm
Msg #55914

Is it August yet?

This morning I show up at my 11:00 a.m. construction loan closing with my Vietnamese borrowers at their liquor store. Mr. Borrower is there but no Mrs. Borrower. I was there on Wednesday explaining the purpose of Witnesses and *thought* I had made it clear of the Saturday, 11:00 a.m. signing appointment -- I guess not. He tells me that he will sign for Mrs. Borrower. I told him that he couldn't do that. Then he tells me that he was unable to get Witness.

A liquor store on Saturday is like Grand Central Station. He is up and down several times waiting on customers. I decided to take the opportunity to call one of the contact numbers. I had been given six, I guess considering the circumstances. First one didn't answer. Second one didn't answer. Finally got the third number to answer. I explained that Mrs. Borrower wasn't there, that Mr. Borrower didn't have a Witness, that the communication is slow because they are Vietnamese, and should I have him sign all the docs not needing notarized -- etc., etc., what exactly should I do. They had me have him call Mrs. Borrower who said she will be there in an hour, i.e., 12:30. That gives me one hour to complete this signing because I have another signing at 2:00 and will have to leave at 1:30.

I already know there is NO way with the communication thing and the fact that it's a liquor store that the signing can be finished in one hour. Had both been there at 11:00, although I wouldn't have wanted to, I could have given them 2-1/2 hours for the signing before my 2:00. A simple refinance takes 45 minutes to an hour. In 10 minutes I'm going to call them and just tell them that I will get there after my 2:00 signing appointment, because I don't want to make more than THREE trips.

Reply by Rick_NY on 7/30/05 1:39pm
Msg #55920

I hope you get compensated for having to make multiple trips through no fault of your own.

Reply by TitleGalCA on 7/30/05 1:52pm
Msg #55925

Re: Is it August yet? Carolyn

You've put so much effort into this one - the good new is you'll probably get several more construction loan signings (sort of the way the universe works) that go much easier than this and you'll be an expert.

Reply by CarolynCO on 7/30/05 2:21pm
Msg #55930

Re: Is it August yet? Carolyn

I do have to admit, that's how I learn -- just throw me into the fire.

At 12:30 I called Mr. Borrower to tell him that I was sure we couldn't get through the packet in one hour, and wanted to make sure that Mrs. Borrower had arrived and that both would be there after my 2:00 signing. He places the phone on the counter and then there is Vietnamese talking in the background - probably cussing me out, no doubt. The set time now for the signing is 5:00 p.m. -- yep, 5:00 on a Saturday night in a liquor store. For some reason, I think this is my signing from the devil.

My 2:00 docs were shipped to Borrowers. From talking to them on the telephone, I think they are from India or Iraq or something similar. If so, maybe after that signing, I'll be better able to better communite to Dell when I talk to them on the phone!

Reply by Linda/CA on 7/30/05 2:39pm
Msg #55938

Re: Is it August yet? Carolyn

Love the Dell comment. Know exactly what you mean. If I get the language bearier I hang up and keep calling until I get someone I can understand. That was cute!

Reply by chuckCA on 7/30/05 4:34pm
Msg #55963

Re: Is it August yet? Carolyn

I would have given the wife 20 minutes to show up. If not, I'm on the road. And charge a trip fee. It isn't up to you to suffer when a borrower hasn't been properly prepped by the loan agent.

If you lose future business with whomever you were dealing with? You shouldn't worry about it. You don't need the headaches. You would only get more of the same. And it takes away time for you to give to better clients.

Reply by CarolynCO on 7/30/05 5:48pm
Msg #55974

Re: Is it August yet? Carolyn

This is the first time I've ever been stood up, so to speak. However, I believe that if I remember correctly, most companies require you to wait 30 minutes.

This is the first time I've worked with this company, and before you ask, I don't publicly post names of companies. They have a good reputation and I believe this is just a fluke and there are several things going on -- first, its an out-of-state construction loan; second, I've never signed a construction loan and I told them at the beginning - but you can be sure that I know a lot more about this type of loan than I did on Tuesday; third, the borrowers are not from this country, but do speak English, even it it is broken.

The first trip I did on my own. I wanted to see first-hand how much English they spoke and if they understood the English language and could read English. I feel that they do for both -- although it is still going to be a slow process.

I have three calls into the loan company. Will I get paid for them? Who knows, but at least it is all documented so they know the problems I've encountered and the numerous trips.

Since I've never done a construction loan before, I quoted my fee W-A-Y too low. If I figured the notarizations separately, they far out number my fee. But I will know next time, and quote a fee much more in-line with the loan. But you know something?--what I'm learning from this whole situation is priceless.

Yes, I'm not too happy that the wife was not there for the scheduled signing, and I'm not too happy with the signing occuring in their liquor store, but it's the borrowers I do this for, and whether or not they haven't been properly prepped by the LO, they shouldn't be the ones that have to suffer. Even though I can appear to be a hard A** in my messages at times, I'm there for the borrowers and give them over 100% because everything works outs itself evenly in the wash.

Reply by Nd_WA on 7/30/05 6:50pm
Msg #55988

Re: Is it August yet? Carolyn

I like your attitude on the very last post Carolyn. What we (SA) do is a service oriented profession, and we try to do whatever we can to accomodate the situation, if time permit. I have sat at a borrower's office for 3 hours while he was working (a 1 man office), having a fit with TC/Lender on charges, then finally sign the papers. I ended up getting an extra $50 for the job and now first call on that client's list.

Reply by CarolynCO on 7/30/05 7:52pm
Msg #56002

Re: Is it August yet? Carolyn

Thanks. I really do try to put the borrowers first. Many problems encountered during the signing process are not the fault of the borrowers. I just got home from the signing. It took 1-1/2 hours, much less time than I anticipated. I guess in actuality I did two and one-half signings. I pulled all the notarization documents out and put them aside. Then I had Mr. Borrower take care of the counter and went through the signing with Mrs. Borrower. After she signed the "un-notarized docs" Mr. Borrower signed while Mrs. Borrower took care of the counter. Then between customers, we managed to get all the notarized docs signed and notarized.

What an experience and education.

Reply by NY_Taxlady on 7/30/05 8:18pm
Msg #56003

Carolyn

That is the difference between a novice and a professional. Keep charging the big bucks,you deserve it.

Reply by CarolynCO on 7/30/05 9:48pm
Msg #56016

Re: Taxlady

Thank you for such a compliment.

Sometimes I make big bucks, i.e., big profit on signings and sometimes I eat it and lose my rear. I have found that the most important traits you must possess to succeed in this business are: patience, tolerance, sense of humor, and to educate yourself as much as possible, to never quit learning and to be able to take a big sigh when the time-consuming signings are completed.

Reply by AngelinaAZ on 7/30/05 10:24pm
Msg #56035

CarolynCO

Oh how right you are. WELL SAID!

Reply by NY_TaxLady on 7/30/05 10:29pm
Msg #56037

Carolyn

I agree with you completely. I couldn't of said it better.

Reply by BrendaTX on 7/31/05 6:06am
Msg #56054

Re: Carolyn - to Carolyn, again.

Carolyn,

It's good to post these kinds of things. Usually, I don't have the patience to post after I have been frustrated too long. That was very good insight into the real way things go, I think.

July has been the most bizarre month I have seen...but she's over now!

Reply by JanetK/CA on 7/31/05 4:21pm
Msg #56108

Re: Is it August yet? Carolyn

Carolyn, I enjoyed reading about your experience because it reminded me of one I had a few months back very much like yours, if not as aggravating - a young Vietnamese couple at a liquor store (also scheduled at 5:00 pm on Saturday afternoon, for some reason).

Fortunately, they were both there, but I had to sign the husband while the wife manned the counter, then go through the whole thing again with the wife. They spoke pretty good English and he seemed very knowledgeable; she just went through and signed, signed, signed. (Yes!) The worst part was that we had to sign in their back office on a little tiny desk in a narow aisle, jammed between storage boxes, and only one chair (which they graciously offered to me). I was balancing my journal on my lap while juggling piles of documents on other storage boxes.

Most of my signings are in pretty affluent areas, so they were an interesting contrast to some of the other people I've signed in more ways than one. They were clearly very hard working people, with no frills -- at least in the workplace - she had on some very nice jewelry... I happened to notice that they had no debt and very good terms on their loan. These were people who understand the value of hard work and delayed gratification, and appreciate the opportunities we have in this country! Interesting contrast to those we all see too often who have to have everything now (keeping up with the Joneses) and are refinancing to pay off maxed out credit cards! [OK, I'll get off my soap box again now... ;>)]

BTW, I did get paid extra for the additional time involved from another great signing service. I didn't ask for extra, just mentioned what the circumstances were when I called in to advise of the completed signing. Class act!