Posted by Joan Bergstrom on 6/16/05 12:16am
Msg #45026

1700 loans signed and this one was a first for me

I called the borrowr (Mr. Smith) to confirm the time on Thurs. and I stepped into a "land mine."

Did all the usual things: introduced myself, confirmed the time at 6:30 pm Thurs; immediately Mr. Smith tells me the appt. needs to be at 6:00pm and I agreed.

Mr Smith then informs me he is going to read every page before he signs.

I go to my normal explanation, and explain the 3 day right to cancel and he can call his loan officer, etc and how much time I can devote to the signing (1hr total) Blab, blab and before I can get done with my "program" he stops me and said" I know all about the 3 day Right to Cancel and I am telling you "I will read ever page in this loan and I will not sign one page untill I have read that page.

I told him I would call the company that hired me and perhaps I could drop off a borrowers copy and we could get this loan signed on Friday. Called the company and that is probably is what is going to happen. I am getting a "courier fee to drop off the borrower's copy"

This guy is okay with me because I didn't have to go to his home and deal with this "Reader." and Mr. Smith is a first for me that he said up front that he was going to read all 100 pages (approx) and didn't care how long I was there as it wasn't his problem it was mine!

This borrower is single and I bet everyone on this board can guess why? Actually these type of control freaks never marry another control freak. A control freak can be either a man or a woman but I have never seen 2 control freaks married to each other. Let's not go there as it is too scary!!

Reply by HisHughness on 6/16/05 12:25am
Msg #45029

Joan Bergstrom comments:

***Mr Smith then informs me he is going to read every page before he signs.***

Wanna bet he didn't make it through the first 5 pages of the DOT?

Reply by patricia on 6/16/05 12:29am
Msg #45031

thats what I was just going to say, borrowers tell me that often, I used to get really upset but learned to just say "OK", and guess what, within 10 minutes they give up, the paperwork is to darned boring.

Reply by Mike/NJ on 6/16/05 8:59am
Msg #45092

I would of made a few phone calls, give the man an hour and after that goodbye..

Reply by PA Notary II on 6/16/05 9:21am
Msg #45098

When I come up against a "reader", I take the doc from them and begin reading it to them. I continue to do this until they can't stand it anymore, and ask me to continue the signing. It has never failed to work. Of course I explain their 3 day rescission period in which they may peruse the docs till their heart's content.

Reply by Roger/OH on 6/16/05 9:55am
Msg #45111

In a very tactful and diplomatic manner, I tell them I have other people to see, and only a certain amount of time for their appointment. If they don't wish to sign in the time allotted, they can choose to reschedule the signing, which will likely result in the docs having to be redrawn and a possible impact to ther loan terms. I emphasize the RTC period and suggest they sit down at their leisure with a cup of coffee, write down their questions, and call their LO. If they don't like what they hear, then use the RTC form. I have found that hitting the high points of the RTC, note, HUD and first payment letter right at the beginning usually takes care of most questions and puts them at ease when they see that their numbers on the docs are actually what they were told.

Reply by Jon on 6/16/05 12:01pm
Msg #45172

I had a borrower tell me the same thing. I dropped off the docs for him to read, and rescheduled an appointment for 1 or 2 days later. I called to confirm that he had read the docs and was satisfied, he said he was, and then went to the appointment. When I got there, he started reading the docs, I said "You told me on the phone that you already went over the docs, is there a problem?" He said "I went over the docs you gave me, not the ones I'm signing. I need to read these to make sure they are the same!" I traded him packages and had him sign the copy and keep the originals.