Posted by SReis on 8/4/10 4:07pm
Msg #347588

After all these yrs I still don't get it....

Why schedule a time w/the borrower (esp. when its at a work or alt location) only to make absolutely NO effort to have docs ready in time to close? There is one main lender that I have been dealing w/lately that has been driving me crazy. I hate having to call borrowers 3-4x to reschedule... should NOT be my responisbility! And then when they finally do gets docs over they have errors, WTH!!

Reply by bagger on 8/4/10 4:19pm
Msg #347589

If I don't have docs in time, I ALWAYS ask the hiring entity, " Are you going to call the BO to reschedule?"

Reply by Les_CO on 8/4/10 5:08pm
Msg #347598

Apparently it’s just been discovered that most Loan Officers/Mortgage Brokers, have a genetic defect that does not allow them to keep in contact with the borrower, their office, the Title Company, or anyone else after they take the original loan application, or after 5 PM. Except to complain about the moron notary, or ask when they get their check.

Reply by GOLDGIRL/CA on 8/4/10 5:11pm
Msg #347599

Don't make it your responsibility. If you suspect there will be trouble (and often we have a sense about these things) or if trouble is clearly already present - tell the borrowers you will meet them at the time they want IF you have docs in time, but you cannot confirm a definite signing time until you have received the loan docs. Don't tell them docs may run late, don't tell them the lender is a bozo, just alert them that you do not have loan docs at that point, you expect them soon, but say that you cannot firm up a signing time until you receive the loan docs, at which time you will immediately call them and say you'll be on your way as soon as docs are printed. (Of course, this doesn't address the issue of your possibly turning down other signings while waiting in front of your computer for promised docs. Don't do that either! Push late doc signers to the back of the line. It is NOT your responsibility. This stuff is out of your control.)

Reply by Susan Fischer on 8/4/10 11:52pm
Msg #347646

Golden Stars, Girl/CA n/m

Reply by Glenn Strickler on 8/4/10 5:14pm
Msg #347601

I don't schedule until I get the docs. I give the BO an initial courtesy call telling them I will call back to confirm an appointment time when I get the docs. That way, should I have other schedules to keep, one job does not ruin the day .....

Reply by Cupguy/Ar on 8/4/10 8:56pm
Msg #347622

I have had some borrowers have to leave an hour or an hour and a half after the scheduled
appointment time. They can't sit there all day or night either. Signings don't pay enough to
risk a speeding ticket or worse, an accident! When I finally get there, I ask the borrowers
how long have they been working on their loan and it has been months. It's like the lenders
get to the office and slap themselves on the forehead and say "Oh no! we have the Smith
closing this afternoon!"

Reply by Susan Fischer on 8/5/10 12:20am
Msg #347650

That's funny, Cupguy/Ar. But seriously, it's the reality

that the borrowers are often surprised, or uncomfortable with the timing, and are happy to have options for the signings to accomodate families' needs. Our Coastal lifestyle and good communications are a testament to borrower satisfaction with remote closings. It's time consuming, and takes smart juggling and good equipment, but that's why my motto is - Your Borrowers Are My Neighbors - between us, we generally get it done.

The Big Lenders, don't seem to be able to keep up with the "paperwork", but there have been some regulations to contend with, so hopefully, it will improve. We'll see. Do they recognize and willingly pay for the "conveniences" of their successful remote closings?

Not so far.

Reply by Cupguy/Ar on 8/5/10 12:43pm
Msg #347776

RE: Late Docs

I am totally sensitive to the borrowers needs. It is beyond my comprehension that after months of working on a loan that the lenders can't seem to get things done a day or two
beforehand. Then they want me to call and tell the borrowers that I am going to be late
because I don't have any docs. When I confirm a signing time I now ask if the borrowers
have something to do before or after the appointment time. That prevents me from having to sit in the driveway for a while or a hurry up signing because one of them has to leave. The
lenders and the sighning companys are real big about mistakes. You have to go back and get
them corrected. If you get docs an hour before your appointment time, have to print out 200 pages and drive 30 miles it doesn't leave much time for thoughtful analysis does it.