Posted by LynnNC on 4/6/10 2:11pm
Msg #330516

E-Signing

I had calls from two different companies do do an e-signing today. I don't do them and hope that more lenders are not going in that direction.

Reply by Jim/AL on 4/6/10 2:12pm
Msg #330517

Why do you not do E-Signing? n/m

Reply by LynnNC on 4/6/10 2:41pm
Msg #330524

Re: Why do you not do E-Signing?

I did one using the borrowers' laptop and it was a pain in the a$$! Three people sitting around a laptop, moving it back and forth and having to scroll through the documents twice for each document to be e-signed. Unless I lose a lot of business by not doing them, I don't plan to. The two requests today were the first I have had in at least 6 months. One was an AmTrust...I don't know who the lender was for the other one.

Reply by KLBMLC - Jim Brown on 4/7/10 8:58am
Msg #330598

Re: Why do you not do E-Signing?

I have done a few E-Signs - The cost of being able to do these far exceeds the fees I would take in so I accept them but use the borrower's computer. I ask them ahead of time if they have internet access w/ cable - if they do, then I accept the job. If not, I turn it back in.

Not enough $$$ in these to justify the cost at this point - and are they labor intensive!!!

Reply by MW/VA on 4/6/10 2:57pm
Msg #330525

Nice to see you back, Jim. n/m

Reply by Linda_H/FL on 4/6/10 2:12pm
Msg #330518

In my area they don't seem to be the rage everyone anticipated...still, in almost four years in this business, I've only had one request to do an e-signing. Still not worth the investment.

Reply by Patti Corcoran on 4/6/10 2:15pm
Msg #330519

Re:What investment?

I haven't done one yet either mainly because they are not popular her either.

Reply by Vince/KS on 4/6/10 2:27pm
Msg #330521

Re: Re:What investment?

The wireless connection for downloading on site and laptop for same.

Reply by Glenn Strickler on 4/6/10 2:32pm
Msg #330522

Do some research as to what you need ...

I made no additional investment as I already had a laptop. I do not use a wireless card, I carry a CAT-5 cable with me and plug in or use the clients wireless. I originally thought I would have to turn them down because I don't have and don't plan to get a wireless card. However, every client so far had an Internet connection. You should charge more for sure as they are more work, but I personally have not made any additional investments. I have no plans to either.....

Reply by Linda_H/FL on 4/6/10 2:38pm
Msg #330523

You'd be surprised how many people out this way

don't have internet - or computers for that matter!! And the connections are dial-up or satellite, which aren't the most stable ...

Reply by Glenn Strickler on 4/6/10 3:01pm
Msg #330526

Re: You'd be surprised how many people out this way

It would be a geographical decision , of course.

I have done these on both Hughs-net and dial up before. Satellite wasn't an issue, dial up was quite slow, but we got her done. I do service a pretty rural area ... but even in the boonies, people have computers and some kind of internet.

Reply by JAM/CA on 4/6/10 3:14pm
Msg #330530

Re: You'd be surprised how many people out this way

Every e-signing I've ever done, I've always used the borrower's computer. I just check ahead of time to make sure they have high speed connection and Internet Explorer. I've never had a problem with these.

If the e-sign requires the use of my laptop, I do not take the assignment.

Reply by FeliseSoCal on 4/6/10 5:40pm
Msg #330539

It seems they benefit everyone but the notary. I don't do them because the ROI was not worth it.

Reply by Grammyzoom on 4/6/10 8:26pm
Msg #330565

Amtrust is good but

not another one we did. It was awful! Lots of docs online, slow slow process.

But we enjoy the Amtrust loans. They go pretty quickly and the 2 or 3 we do a month makes having the equipment worthwhile. We already had a laptop and as I have stated before, I use the air card for home use and when we need it for the laptop we just pull it out of the PC and off we go. The one and only time we used the borrowers equipment it did not turn out so well. His battery died right in the middle of the signing.

Reply by PJM/MI on 4/7/10 5:11am
Msg #330584

I'm not doing them in my area either. Like you, there alot of bo's that don't have computers. We still have area where there isn't cell phone service.
I had one company add some documents to a closing. They called me when I was on my way to the closing and asked me, "Can you just stop at a Kinko's and we'll fax them to you?" The nearest Kinko's is 1 1/2 hrs. away.
I am truly a "remote" closer.

Reply by NCLisa on 4/7/10 9:25am
Msg #330605

Send them my way Lynn! I love them!