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Were they raised in a barn?
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Were they raised in a barn?
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Posted by taxpro on 4/20/10 7:15pm
Msg #332633

Were they raised in a barn?

I had an appointment scheduled for 5 p.m. I had called two days earlier when I got the assignment to confirm and to ask them to make copies of their IDs. I confirmed that the time and place were correct, and that both H/W would be available to sign the docs. "Oh yes! We'll be here ready and waiting for you."

So I get there, and Mrs. B is in the middle of making dinner. She jumps up and down from the table a lot, which is annoying enough.

Ten minutes into the signing, the doorbell rings. Mr. B says "Oh, it's just the insurance lady." It seems they were in the process of getting life insurance, and the nurse who does physicals for the insurance company had a 5:15 appointment with them as well. They thought they could "kill two birds with one stone." While one of them signs documents, the other can get their blood drawn, blood pressure taken and height and weight measured (while cooking dinner), then vice versa. What a great idea!!

The nurse took a look around at what was going on, and said, "Uhhh.... no, I'll just come back. You can call your insurance agent and let him know when you would like to reschedule for a more convenient time." They were following her out the door saying, please wait, this will only take a few more minutes, blah, blah, blah...

She stood her ground and left. I didn't blame her one bit. I was appalled at the borrowers' behaviour and lack of respect for her time and for mine. I guess I was lucky I got there first, because at least I got mine done in one trip. I felt for her, though. I hope she gets paid for two trips.

Reply by Linda Juenger on 4/20/10 7:18pm
Msg #332636

Feel your pain. Last night I get to the borrowers and the lady runs outside to meet me. She hands me a check for proceeds due and says where do I sign? Huh, I said ma'am, you have 127 pages to sign. We go inside and the kitchen table is full of kids and hubby eating. I said, we can either do this now or about 9:30. I have another appt. She told the kids to grab their plates and head for the tv room. She took hubby's plate away and we sat and signed. She told me that the LO told her its just a few pages. I could choke him/her for telling borrowers this.

Reply by PAW on 4/20/10 7:32pm
Msg #332640

In my opinion, you lost control of the signing ... er, make that, you never took control of the situation. First, I always call the signers the night before a signing to reconfirm the appointment. I also lay the foundation for the appointment stating simple things like "your undivided attention to this matter is needed" and ensure there will be no distractions. And, if the appointment is for late in the day (evening), I call the same day to once again reconfirm the appointment, what's needed to close and expectations. In most cases, what you went through could have been avoided. Granted, it doesn't always work out that way, but in the over 10 years doing this, I've only had one interrupted signing due to poor planning by the signers.

Reply by taxpro on 4/20/10 7:48pm
Msg #332644

You're right PAW

I didn't call again after the first call to confirm, and I didn't start out by saying "I'll need your undivided attention, etc." In the past, one call has been sufficient to confirm the appointment, and most people know they need to sit at the table during the signing. This behaviour surprised me, after 7 years of doing loan signings. I guess I've been lucky that in the past, the borrowers have been mostly civilized.

But you are right, and I will follow your excellent advice in the future. I have learned a lot from mistakes over the years, and have made many changes in the way I do business from lessons learned. Not only in loan signing, but also in accounting and tax prep. Mistakes are what brought about the existence of my engagement letters (outlines the agreement of the accounting or tax engagement), drop-dead tax deadlines ("If your information isn't in my office by April 1st, I'll be glad to file an extension for you), and E&O insurance (never had a claim, knock on wood), etc. This is another example. I'll just chalk it up to another lesson in the school of hard knocks.

Reply by Claudine Osborne on 4/20/10 8:13pm
Msg #332646

Re: You're right PAW

Taxpro..I like your attitude! Paul gave you some good sound advice and you (we all should) take it to heart and keep getting better at what we do..Paw thanks again for you wisdom!

Reply by John/CT on 4/20/10 9:46pm
Msg #332652

Exactly ...

even this "old geezer" (early member of Susan & Scott's NASA) learned a "new trick" today. Smile

Reply by Sylvia_FL on 4/20/10 10:04pm
Msg #332654

Hmphhh John!

"old geezer" (early member of Susan & Scott's NASA"

I was a member of Susan and Scott's NSA, and I don't consider myself an "old geezer"
Maybe a bit of a relic, but not an "old geezer' LOL

Reply by Philip Johnson on 4/21/10 9:46am
Msg #332683

If the bloomers fit. :) n/m

Reply by Pamela Hoyle on 4/21/10 12:19pm
Msg #332723

Re: Hmphhh John!

I would call neither John nor Sylvia "old geezers." Wise sages, along with Paul....source of wisdom and experience, fount of information...but NOT old geezers!

Reply by Sylvia_FL on 4/21/10 12:23pm
Msg #332724

Re: Hmphhh John!

Pamela
You just went to the top of my Christmas listSmile
Thanks for the kind words.

Reply by John/CT on 4/21/10 4:42pm
Msg #332770

Likewise, Pamela! To the top of the tree!!! n/m

Reply by PAW on 4/21/10 1:19pm
Msg #332735

Re: Hmphhh John!

Thanks Pamela, for the kind words. I'm honored to be mentioned with the likes of John and Sylvia. Does that make us the "Sage Trinity"?

Reply by Bob_Chicago on 4/21/10 3:16pm
Msg #332749

As another original NASAite, I would prefer...

"well worn antique"

Reply by PAW on 4/21/10 1:14pm
Msg #332734

My pleasure n/m

Reply by GOLDGIRL/CA on 4/20/10 10:51pm
Msg #332655

I agree with PAW that you never really had control of the signing, but I feel for you because you got smackarood by these idiots before you knew what hit you. Live and learn. After 7 years for you (me, 6 years) we're still learning! However, I differ from Paul. I can't imagine calling a borrower a second time (I can barely get ahold of them the first time) and giving them the lowdown on "undivided attention." I just couldn't carry it off. However, when I get to a signing, and dinner's on the stove, the wife's jumpin' up and down, the doorbell's ringing, the phone's ringing, the pool man's there, etc. I do my school marm impression and firmly announce that everybody needs to sit down and be quiet (so to speak), pay attention and sign your loan. You do want this loan, right? The other night I arrived for an appt. exactly on time, and hubby tells me wife is taking a bath. He sits me down at the table and wanders off into another room. By his body language, I can tell that it's going to be a long time before either one emerges. "Excuse me," I say somewhat loudly, since I don't know where he disappeared to, "We apparently need to resked since this is clearly not a good time for you" or somesuch, and I start getting up to leave. He bounds up the stairs and in no time, she's downstairs, hair dripping. Pretty disgusting. I love the nurse's line: "I'll just come back. You can call your insurance agent and let him know when you would like to reschedule for a more convenient time." We'd just substitute "broker/lender" for "insurance agent." Of course, following PAW's advice, we wouldn't have to threaten rescheduling cos they'd already be in line!

Reply by linda/ca on 4/20/10 11:49pm
Msg #332657

My thinking is more like yours, GoldGirl. I feel that I would be creating some unnecessary"bad attitudes" by laying down the law, "so to speak," before I got to the borrower's home. If the situation calls for it; then I lay down the law; why create a possible hostile environment? I guess if you can pull it off as Paul obviously can, then go for it!

Reply by Susan Fischer on 4/21/10 12:26am
Msg #332658

I hear you, GoldenGirl, whether the busy home or the busy

business, a "call to business" works...

Isn't it a 'people-person' thing? Whether dealing with kids, fur-faces, customers, or other distractions, we control the scene, bring it all down to the Table, and get the job done.

For me, I don't pre-demand strict attention of borrowers, but do confirm presence of signers. Like you, GG, I find it easier to assimilate and direct - adapt and focus. Love your 'school marm' analogy...a good knack to develop.



Reply by GOLDGIRL/CA on 4/21/10 1:00am
Msg #332659

Re: I hear you, GoldenGirl, whether the busy home or the busy

Right, Susan. In fact, I'm starting to remember times when I have cut borrowers a whole lotta slack. For example, being a former harried mom (I'm still a mom but not harried cos kids are all grown), I remember the days when school friends unexpectedly "stayed" for dinner, "and can you drive them home afterwards, mom, cos their parents are .... (fill in the blank)", husband is tied up in some business meeting and can't take daughter to swim practice, school project now scattered all over kitchen table, TV and video games blaring, etc. So if I see a mom caught in similar circumstances but she's trying her best, I'll just sit and wait while she's juggling this mess, glad it's not me. But when borrowers clearly have no brains and/or manners - similar to Taxpro's dilemma and my bathing borrower - the party's quickly over.

Reply by Susan Fischer on 4/21/10 1:55am
Msg #332661

Yuppers, GG...I've wiped jellied tables, grabbed some

groceries from the trunk on the way in, and 'captured' potential fur-faced "escapees," and made friends with babies and grouchy folks...

Taxpro's dilemma, and thankfully few exceptions like the Bathroom Borrower, make us strong.

The unsung heroism of the remote closer...we have to be real, we have to adapt, and we have to lead. It ain't always easy, but we get the job done well, no?

Reply by RJE/MI on 4/21/10 8:17am
Msg #332671

Great advise and funny all at once! Thanks for the chuckles n/m

Reply by 101livescan on 4/21/10 9:05am
Msg #332674

We could write a chapter on getting the borrowers to focus at signings, and being the pilot keeping everyone looking at the same radar screen. I can't tell you how many times I've arrived at the signings and one of the spouse's isn't there yet or doing something they think they can do simultaneously. Like yesterday. Husband told wife she doesn't need to show up because she's not on the loan (but she's on the vesting!). Although you've called in advance to confirm the appt and tell them you're the representative of the Lender/Title/Escrow and you'll be presenting their very important loan transaction, this is the last step before the transaction closes, yada, yada, yada...These days not just anyone is getting loans approved, so the IQ and responsibility level is pretty high. Still, gotta have the conversation before you show up: Everyone needs to be present at the same time, no I won't travel to a second destination because one signer has to work late. Everyone needs to be available for at least 30 to 40 minutes for a simple refi. If it's 300 pages, it's longer. Since we often arrive at early evening, dinner is on the burner, I know how it goes, but it's got to be put on simmer or turned off. Everyone needs to let the phone go to voice mail and stay on course for the complete signing an rechecking at the table. Then everyone is excused. I find it interesting how many people are trying to multi task at the table. My favorite remedy is:

If this isn't a good time, we can reschedule. However, documents are date sensitive and I won't be able to return until quite late or another day, and we'll have to redraw documents I'm sure.

As I'm confirming the appt, sometimes I get voice mail, I insist the borrower call me back to confirm they actually received my message, and I HAVE SOME VERY IMPORTANT INFORMATION TO TELL THEM BEFORE I ARRIVE AT THEIR HOME, which is it's me and them and a small piece of their valuable time to consummate this important transaction, which is the last step toward closing an funding. That usually gets their attention, but reminders are key. Like 30 minutes before you arrive, you reiterate the same pitch. I also emphasize that I have appts before and after theirs and I have a schedule to keep so that everyone on my flight plan gets taken care of in a timely, efficient manner. NO LATECOMERS!

I loved the night I arrived for a signing, and 15 minutes later, another loan signing agent shows up for another loan closing, and sits in the living room while I'm in the dining room, asking me questions about my business and experience, and how I get the biz, as I'm trying to get the borrower to focus and execute everything correctly. I thought I would lose my mind. No privacy, extremely undermining. I got through it, just another scenario to be prepared for in the crazy business.

Reply by Notarysigner on 4/21/10 9:37am
Msg #332681

Try breaking up a PTA meeting or keeping a Dr awake after he has completed his 24 hr shift!


 
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