Posted by snoopdogMs on 4/30/10 6:24pm
Msg #334393

Blood pressure probably is up today.

I closed a refi yesterday for an elderly couple (middle seventies). When I arrived about 10 minutes early, only the sick wife was there as we waited for the hubby to come home. She told me about 5 or 6 times that her daughter had gone to some site and seen their appraisal for 125K but that the co. only said it was worth 105K and she was worried about a scam. I looked thru the papers and showed her that 105K was the appraised value. So I told her to call her LO and get this straight before we got started. And I also reassured her that I was not there to pressure them to sign if they could not be satisfied with the appraisal dispute and that they did not have to sign (trying to eliminate any fear of a scam). Husband arrived and they would not call LO once I had showed them the appraised value in the papers again. Then we get to the document that they state they received the appraisal 3 days prior or waived their rights. I told them they did not have to sign since neither option applied, but to please call their LO right then for a confirmation that the appraisal would be e-mailed at that moment. They said never mind and signed. To be continued.

Reply by MW/VA on 4/30/10 6:33pm
Msg #334396

Was this for a RM, where the appraised value has a significant impact? I think we all know that appraisals are coming in very conservative because of the whole decline in values. I know you can get estimates at sites like Zillow, but that doesn't mean the lender would be willing to use that figure. You did what you could. It's an issue for the LO, as you directed them.

Reply by snoopdogMs on 4/30/10 6:42pm
Msg #334398

The rest of the story

So they complete the package seeming to be perfectly happy with everything. I get a call from title today and the agent asked me what happened as the couples daughter called the LO infuriated saying that I had told them NOT to sign because of the appraisal. I could not figure out if it was my no pressure stance that she had a problem with or the one document that they could not sign if neither option applied. What!!! Title was happy with my side of the story, but none the less, my blood pressure has probably been elevated today as I'm not sure what her beef was unless she was upset that I showed them in the paper work that the value was 105K not 125k. For some reason she was using that figure to produce fear in their minds about the process.

Reply by Moneyman/TX on 5/1/10 1:32am
Msg #334451

Re: The rest of the story

Helpful daughter stated that you told them "NOT" to sign and yet a completed set of signed docs were received at TC? Sounds like the parents have more of their "faculties" than does the daughter. If she was so worried, why didn't she show up with a print out from whatever website so that she could have called the LO for them?

I'm not at all against children helping older parents in any financial dealings, however, IMO either get in at the beginning, catch up to where everyone is or stay the hell out of it.

Reply by snoopdogMs on 4/30/10 6:43pm
Msg #334399

Standard refi n/m

Reply by Susan Fischer on 4/30/10 7:33pm
Msg #334408

Sympathies to you. More than once I have heard "feedback"

that borrowers said I said something, when in fact, 1) I had not, or 2) said just the opposite. Sometimes, I get the feeling I'm talking to chairs. Not very often at all, but, whoo weee. It just blows me away to hear what they thought I said translated through a third party trying to understand who said what.

Reply by MW/VA on 4/30/10 7:46pm
Msg #334410

Re: Sympathies to you. More than once I have heard "feedback"

Yes & age isn't really a factor. People don't understand the process, get a fixed idea in their mind, and stick with it, wanting to prove themselves right. IMO the daughter should have been present at the signing if she wanted to make the issues.

Reply by Susan Fischer on 4/30/10 9:28pm
Msg #334426

I share your HO, and the perfectly understandable

eyeroll. - Not with our borrowers, but with the helpful children...

Did have a great one though, this week. 40ishy Good Daughter drove 200 mi to be there, and her (younger) Brother (30 something) lives here, but not with Mom. Mama was on wheels, and as sweet and sharp as a Blue Bonnet morning - the whole place was just full of ~love.~

Good Daughter was an old lending industry pro, eagle eyes flashed over each page, she nodded and passed along to Mama where I pointed and she signed in an beautifully classical hand, if a little wrinkly. Sister called a little ways into our visit, and everyone had a great time; Kitty and I amused ourselves for their chat. The lake was still, with those long golden shafts of sundown glinting off the far window panes like firey diamonds. Hugs all around when I left.

Anyway, the jovial banter throught the whole delightful signing was a comforting reminder of how much love there is all around.

Just for a little balance...<wink>

Reply by JanetK_CA on 4/30/10 9:15pm
Msg #334425

Re: Sympathies to you. More than once I have heard "feedback"

Love your comment about talking to chairs. That is so, so true!! Seems some people's heads are wired in "transmit only" mode and no matter what you say to them or how many different times and ways, their receiver is just not working. Their "selective listening" allows them to hear whatever it is they want to hear or to reinforce whatever preconceptions they already have.

Very frustrating!! Those clients who get this are true treasures!

Reply by Susan Fischer on 4/30/10 9:47pm
Msg #334430

<chuckling> Selective listening. Now there's a book... n/m

Reply by MikeC/NY on 4/30/10 9:43pm
Msg #334429

"She told me about 5 or 6 times that her daughter had gone to some site and seen their appraisal for 125K but that the co. only said it was worth 105K and she was worried about a scam. "

The daughter probably went to Zillow, which is often very inaccurate in the "Zestimates" (and they admit it - +- 20% or more in some areas). One of the worst websites that ever happened to the real estate business....

Reply by Moneyman/TX on 5/1/10 1:55am
Msg #334456

This reminds me of helpful family members when I first began

I had a reverse mtg closing that after 15 min into the signing, the son, who lived in the same house, decided he wanted to know what was going on. Ok fine, I can deal with that. We called the LO and she was able to answer his questions and all was good. The signing was taking a little longer because mom (late 70's or early 80's and not the best of health) had to rest her hand. No problem there, run into that from time to time with reverse mtgs. So about 20 min after son had all questions answered, daughter arrives, with same questions and more. Son cold not answer them, he had taken a few breaths since then and the fresh oxygen seems to have wiped out his memory. So we again call the LO. After 30 min on the phone with LO, daughter is now OK for mom to continue signing. Nearly every page after the calls these two brain trust graduates had questions that delayed the signing, not to mention confusing mom. They kept asking the same questions over and over and in different ways, especially when a duplicate document would be presented. The LO was called several times.

Mom finally had enough and let them know that she did not want them to keep asking questions and that she didn’t really want them to have asked any at all. They continued anyway. After a few more questions, I finally told them that I had another appointment and that now I was now going to be late (no other apt, I had just had enough). I reminded mom, and the rest of the ~ gang, about the RTC and that they could call the LO after I left with questions, but at this point (2 hrs after I arrived) I would have to continue and only answer mom's questions. I finished up about 10 min later and left.

After I left, the LO and I talked and she spent nearly 5 min apologizing for what happened and for not being there. She was as furious with these two "helpful Henry's". The LO was supposed to be at the closing but at the last min was unable to attend. Since this was the first closing I had for this LO I wanted to hang in there for her, and future business. I have since worked with her on several closings via different SS companies. I spoke with her recently and she mentioned that because of this closing, she now asks up front about other family members that need to be involved & get an agreement from the borrower(s) that additional family members will not be brought up to speed at the closing by herself or the notary. I love closing her loans now.

Reply by Susan Fischer on 5/1/10 3:38am
Msg #334463

*Great* story. Another reason we do the coolest work

in the world. And love it, most of the time, ok, a good deal of the time.

Oh! I get it Moneyman, you're trying to lure John back with puppy-eyed tales of the fabulousness of NotaryLand...ah!

Have to agree though, the great stuff happens all the time, even with the flip side of receivables and collections and the printergoblins...

Thanks, Dude.

Reply by Moneyman/TX on 5/1/10 6:22am
Msg #334467

LOL Susan -- Na, I get so few of thoes types they stick out

"Oh! I get it Moneyman, you're trying to lure John back with puppy-eyed tales of the fabulousness of NotaryLand...ah! "

If I am, I know I'm doing a poor job of it.

The "helpful" children are sometimes just trying to stick their nose in places just for the he** of it.

But like I said, I get so few of them that certain ones do stick out! I think I get about 1 a year now. For the most part, they are happy the process is only an hour or less away from finishing (barring any issues with paperwork after I send it off).

And hey, by me putting up with all that mess I have received a lot of assignments from this LO.