Posted by Mung/CA on 11/1/05 10:49pm
Msg #73569

The moment of truth and I'm as nervous as can be

tomorrow is my first signing. I'm going to pick up the docs at the title company along with instructions in the morning. The appointment is at the borrower's house at 5PM here in my hometown. It will be for Spanish-speaking people. Can you guys give me any advice before I'm deployed? ANYTHING will be helpful. Thanks.

Reply by TitleGalCA on 11/1/05 11:01pm
Msg #73572

Mung, first...congratulations!!! Second...you do speak Spanish, no?

It sounds like you'll have lots of time to review before 5pm.

Remember...you know more than you think you do just by being part of this forum and reading, so relax and think of yourself as expert, that will come across and relax the BO as well. At my first signing I had done my homework and knew the documents and their purpose...my biggest fear was the "speak" part. Confidence will do more good for you and your BO than an endless list of what to do. Breathe!

Reply by CaliNotary on 11/1/05 11:04pm
Msg #73574

And if your borrower is a naked fat lady, be sure to quote her at LEAST $300. You're a professional now, charge like one!

Reply by Blueink_CA on 11/1/05 11:15pm
Msg #73579

After a totally messed up day, I so appreciate the posts of TitleGal and Cali. Thanks for being you!

Reply by Joan Bergstrom on 11/1/05 11:53pm
Msg #73588

Tag all the places the borrower needs to: initial, sign, and you need to notarize. Tear some "post it notes" in 3rds if you don't have the fancy ones you can buy at Staples/etc.

Check your work twice before you leave the borrower(s) home and don't talk to the borrower while you are checking your work. If the borrower wants to talk to you "put down the loan docs and talk to the borrower and then check the docs.

Just remember the borrower(s) is the: applicant/ borrower/ signer even if their name is not typed below.
Good Luck

Reply by Hampton_CA on 11/2/05 12:20am
Msg #73592

Who is the Title Co? You may want to ask the escrow officer for an after hours number in case you have questions.

Reply by Anonymous on 11/2/05 2:19am
Msg #73601

Arrive early, get the documents, go through them before you meet the client. You might even do this at the TC office. I always say, since I have not closed for your company before, let me review this since each company does things differently. TC usually appreciates you being diligent. Make sure you know how to return the package. Do they have a drop box? Do you need to have it back by a certain time in the morning etc.


Yes. Ask for a cellphone number for the closers in case you have a questions during the signing.

Ask for the loan officers cellphone number(not office number they have often gone home for the day, get a cellphone number.)

I review the settlement statement, know the size of the loan, amount of cash back or cash to collect. Are both people signing or only one? (Even if only one is on the NOTE, the other has to sign several documents) This way you know what is going on in the transaction. KNOW WHAT TYPE OF INK. If you have to keep a log of what you notarize, create that log in advance as a double check during the signing.

I arrange the package, ID form first so you know who they are and see their Ids. Then the settlement statement, the loan and the mortgage, since the mortgage has to be notarized, I then put all the other notarized documents after that to make sure I do not miss one, then the rest of the non-notarized forms. I then move to the note and mortgage.

Get phone numbers where the borrowers will be the next day in case you miss something and need to get ahold of them quickly. Usually title companies do not mind if you can recover quickly from a mistake.

Good to call the TC or loan officer afterward and report on the transaction.

When you take it back to the TC, ask if they can review it since it is your first one. If you missed something, better to take the document with you and go get it signed then to have to drive back to the TC later.

If you are humble, most people at title companies are patient with a newbie. You might not make any money if you have to do it twice, but after a couple, you will get the hang of it.


Hello my name is X, I have some loan docs for you to sign. Do you have a table and I will need to see your ids.

Fill out id form. Get borrowers numbers for tomorrow.... In case any questions come up tomorrow, when and how could I get a hold of you.

Here is the settlement statement. The loand $xxxxxx and you are getting cash back of XXXX.
please sign here as your name is typed using this color ink. Always sign as your name is typed it might change from form to form.

Here is the Note..... please sign

Here is the Mortgage.....please initial each page and sign

This is related to property insurance....please sign and date.

This is related to taxes......please sign and date

This form looks like an internal title company letter nothing for you to sign.

etc.

Looks like that was the last form. I need to double check the documents and then we will be done.

DOUBLE CHECK.

Okay. Here are your copies. I will return these to the title company tomorrow and in a couple days you new loan should be in place. Thank you.

Leave.

Completion call to the title company and/or loan officer. The is x, the Jones signing went smoothly. Call me if you have any questions, your name and number.

Return package to TC. (Try to get your first couple back early in the morning in case you made a mistake you have plenty of time to contact the borrower and correct the mistake.)

If you or the borrowers make a mistake on a form, swap it for the copy in the borrowers.
package.

Good luck.

Reply by Ilona_OH on 11/2/05 7:03am
Msg #73606

If you are going to be taking docs out of the order they are in make sure you mark that place with something so you can put the doc back.Sounds like everyone might think of this but I didn't on my first and got the docs all mixed up. Post it notes work well and you can even write what the doc was that you removed.Remember--they know less than you do most of the time so don't be afraid. Have a geat closing and call the TC if you have questions!Good luck!

Reply by Danny_FL on 11/2/05 9:12am
Msg #73635

if they offer you coffee, take it, if you want, AFTER the signing is over and the docs are put away. No liquids on the table during the signing...

Danny

Reply by BetsyMI on 11/2/05 9:17am
Msg #73636

Hi Danny,

The only thing I want AFTER the signing is to leave. Accepting coffee after the signing means spending more time there than necessary.....unless it's in a styrofoam cup ready for me to take with me!

Reply by Mung/CA on 11/2/05 9:25am
Msg #73637

WOW! What great responses from everybody.

Thank you guys so much for sharing your opinions with me I really appreciate it. I don't feel as nervous any more. I'm sure I'll have more questions after I p/u the docs however so you'll probably be hearing from me shortly.

The t/c is Old Republic Title. I met the gal there a few weeks ago through my mortgage broker neighbor and she is the sweetest and friendliest person.

Reply by eXpedN_TX on 11/2/05 11:08am
Msg #73671

Re: WOW! What great responses from everybody.

Everyone has given great advice and I don't want to overwhelm you. You are going to do fine!!! What may also help is knowing where certain things are in the docs. Try and think about questions the borrower may ask...i.e. Where do I find my interested rate? You can point them in the correct direction, just don't offer any advice since you are not an attorney. (Or maybe you are???) A week ago I had a customer real nervous about whether or not they could pay the loan off in advance without getting penalized. I pointed them to the Note and they read the section. I didn't offer any advice or translate what it meant, I just let them read and moved on.

Also, when you get to the table, tell them to sit where you want them. Fill out your journal entries FIRST and have them sign and fingerprint. I like the borrower's to sit at my left. After they sign the pages, I flip it upside down and move to the next. That way they won't get distracted with pages already filled out and you can better keep things in order.

Like I said...You are going to do great!!! Congratulations!!!!

Reply by Mung/CA on 11/2/05 2:53pm
Msg #73747

thanks eXp.

You'll notice I posted a new message a little while ago. The people on this forum are truly professional and courtous.