Posted by Karla/OR on 8/10/12 3:31am
Msg #429985

Chase Signing

I've only done mortgage closings at the BO's home. I now have a Chase re-fi scheduled next week which is taking place at the local Chase Bank. Do the title and bank people sit in on the signing with you or do they leave you alone with the BO's??? I'm trying to get a clear picture of the flow of the signing and who takes charge of it. Don't want to step on anyones toes!

Thanks.

Reply by ed_Okla on 8/10/12 5:20am
Msg #429986

They will leave you alone. Some borrowers prefer just to meet at a branch.

Reply by Rita L. Henry on 8/10/12 5:35am
Msg #429987

I did a refi at a Wells Fargo once and they bank gave us a desk to work at and just left us to our business. I found that it was the borrowers request to have it at the bank rather than her house.

Reply by sueharke on 8/10/12 12:49pm
Msg #430024

The last Chase signing I did at a bank., the bank loan officer thought I was going to explain the doc. That is not allowed in CA.

Reply by Paul2_FL on 8/10/12 7:16am
Msg #429989

It depends. I've done a few this year at a local Chase bank where the LO sat in - not a big deal. With other banks they mostly just find you a desk to use and leave you alone. (Although, in past years, it has happened to me with other banks as well). When it happens and the LO want to inject an explanation to the borrower(s)on a particular doc I let him/her. The ultimate goal is to have a win/win situation at the end of the signing. I.e.; the borrower(s) leave happy and you and the LO are on good terms for future business. BTW - You might want to consider adding maybe 15 - 20 minutes to your schedule for this first one just in case.

Reply by Lee/AR on 8/10/12 8:24am
Msg #429993

Having had the experience that the bank hasn't a clue that you/B are doing this at the bank, I'd get there a few minutes early to avoid an awkward situation. I've always been given a room or someone's office for this and left alone. Often the Bs just assume that the bank will make the ID copies...and they will. Just take charge of the situation, confidently and very politely.

Reply by Rose/TX on 8/10/12 8:48am
Msg #429997

My experience with closing at the bank has been very good. Just as most of you have posted, they (loan officer or office manager) give you a desk and let you know where they are located in the office if you need to get a hold of them. After that I'm on my own, if I need a copy made they (bank manager) are very accommodating. I don't mind if a LO wants to sit in, in fact it has worked to my benefit, I've had one or two of them( LO )answer questions that the borrowers had right on the spot so it made my work easy!

Reply by NMSBTB/TN on 8/10/12 3:44pm
Msg #430042

Did one where the Bank Pres came to a r.e. agent's for the

closing. Big client and old friends along with the r.e. company agents. Longest closing to date but never laughed so hard in all my life. They swapped stories and did can you top this. Managed to corral their attention in spurts to do the signing as the party responsible for closing the office and locking up was also delayed over an hour. Still chuckle when I hear the client's name or see mention of the bank's Pres.

Reply by HisHughness on 8/10/12 8:45am
Msg #429996

I've never figured out why banks call in signing agents ...

... to close loans in their branches, but all of them do it, and it's not always just at the borrower's request.

Be sure to call the branch in advance and ask to talk to a vice president. Explain that you are supposed to close one of their bank's loans in their branch, and ask that they have facilities available for you. It is not at all rare to show up at a branch and throw the staff into a tizzy because some stranger is saying he's there to close one of THEIR loans. They've never been through the process, and lots of phone calls will ensue till they learn it's okay.

Otherwise, it's just like any other closing. The branch will cooperate in copying ID.

And you'll get free coffee.

Reply by Rose/TX on 8/10/12 8:53am
Msg #429999

Re: I've never figured out why banks call in signing agents ...

Good point about calling the bank ahead of time. I do this also to make sure I'm in the RIGHT BRANCH. In our area there may be 3 Chase Bank branches all within a few miles of each other. I've made the mistake of sitting and waiting at the wrong branch and the borrowers at a branch office 2 miles down the road.....groan. So yes, experience has taught me to call ahead and talk with the person in charge of that office. They are mostly very accommodating and as mentioned, either free coffee or bottled water is offered to me :-)

Reply by janCA on 8/10/12 9:33am
Msg #430002

Re: I've never figured out why banks call in signing agents ...

I believe, Hugh, it's usually because it's the title company that hires you to do the signing, not the bank. And from my experience, that's where the borrowers want to sign.

Reply by Gerry Grummons on 8/11/12 8:15am
Msg #430095

Re: I've never figured out why banks call in signing agents ...

I think maybe it's so thay have a disinterested party doing the notary work. Keeping any
bank interest out of the loop. The bank will also do the FAX backs as well along with a refreshment.
They let you use a private room, usually and leave you alone. Good experience.

Reply by Les_CO on 8/10/12 9:55am
Msg #430008

As others have said, most of the banks personnel will be quite helpful, and the OL may be there (I always ask) Don’t forget to dress business…leave the flip-flops and shorts at home. JMO

Reply by Keys_Notary on 8/10/12 11:16am
Msg #430015

Closing @ branch

I've done these many times for 3 different reasons. It is best to ask the scheduler or the title company why closing is at the branch.

Most often the branch you are signing at is not the branch / division that is funding / profiting from the processing of the loan, so the originating pays your fee, but prefers it to be signed in a building with their name on it.

Second most common is the particular title company requires it. They don't want the bank or real estate employee acting as a 'dis-interested' party to the loan.

The least common is the 'borrower' requests it. Always need to check with a loan officer or assistant branch manager prior to showing up, even if the borrower says they told them it would be okay. (they may have asked someone without the authority to allow this) Usually the bank has no clue until you call. If they have space they accommodate you but not necessarily. Small remote offices do not always have a separate conference room & may only have one private office for the branch manager.

Reply by BossLadyMD on 8/10/12 10:50am
Msg #430011

As the closing agent/notary, its your show n/m

Reply by Les_CO on 8/10/12 11:26am
Msg #430017

Re: As the closing agent/notary, its your show

If you are very experienced, very smart, and very well versed in your States notarial/real estate/recording, and State and Federal lending laws….maybe? Remember you are at the behest of others. The bank and their loan officer have a lot of money riding on this transaction. Also many times it is the bank branch where the signers do business, and they know, like, and trust the people (such as the LO) there. And just maybe the LO doesn’t want some dippy notary going in and telling his clients a bunch of stuff that isn’t true, or that they heard somewhere? I’ve done many in-the-bank signings for Chase and I always check if the LO is there, and ask if they would like to sit in. Yes you are there to do your job, just make sure you know what that is.

Reply by Jessica Ward on 8/10/12 12:08pm
Msg #430018

I do lots of them like this

Last winter I had 4-5 chase loans every day, and knew the staff at several branches on a first name basis. I actually like closing in the branch. No dogs, no smokers, no rickety porches, and the LO is often handy if there is a question.

Reply by Les_CO on 8/10/12 12:29pm
Msg #430022

Re: I do lots of them like this/ I agree!

On the Chase loans I’ve done the LO was an employee of the bank, not some broker from Vacaville. If the borrowers have any questions about, costs, amounts, payments, terms, interest rates the LO is the person better qualified than the notary to answer. It’s their customer, if they are there let them do their job, and then your job is just to witness the signatures….easy. I’d like 4 a day.

Reply by NJDiva on 8/10/12 1:05pm
Msg #430026

I think most everything was covered...

What's really daunting, though, is when you aren't TOLD it's a branch closing, the LO isn't at that branch and you have to walk in just as perplexed as the bank employees are. Many times, there isn't a conference room available (they might not even have one) and the desks seem to be occupied as well.

I agree with Les, IMO it's imperative that we dress professionally when performing bank closings. But it's a perfect example as to why I dress the same way for all my closings. Whether it's at someone's house, their work, the branch or wherever, I dress professionally. That's just me. I fit right in with the branch staff. In fact, many times I'm dressed more professionally than they are. I figure, if these people are taking out hundreds of thousands of dollars in loans, I want them to feel confident that I am capable of handling their transaction. It garners more of their confidence in my ability and they are more likely to respect me and allow me to take control and facilitate the closing as to how I see fit. Again, just me and my experience.

As was mentioned also, IMO it's a good idea to walk in with self assurance. Even if the LO is attending (which I too like, it's easier to defer any questions), I still give the brief description of the document. Of course, it's no more than they could read with their own eyes, but it really helps to move things along. Besides, it gives a great impression to the LO, who will remember you and may definitely request you in the future. It makes their job easy as well. They really like that...lol

Reply by bfnotary on 8/10/12 10:51pm
Msg #430080

Re: I think most everything was covered...

I have not personally done a signing in a bank yet. I have done them in attorney's offices, and realtor offices. And I as well, dress the same, (professional), whether it is in an office setting or private home. Most of the time, we are the only ones these people see. I wouldn't want someone coming to my home handling a huge transaction of mine, looking like a bum. lol. I even dress professional if I get a call for general notary work. Even on a sunday afernoon. Then again, I love looking like a business woman.

Reply by Karla/OR on 8/11/12 2:38am
Msg #430089

Re: I think most everything was covered...

I agree with you and others wholeheartedly about dressing professional for signings no matter what the venue. Working with the public in a large city (Seattle) my entire career has definitely taught me how to dress appropriately. Getting dolled up is essential to my confidence at each signing! I have never felt overdressed!

Reply by NJDiva on 8/11/12 7:02am
Msg #430092

My sentiments exactly Belinda and Karla!!!

Reply by Dorothy_MI on 8/11/12 8:31am
Msg #430096

I also always give the LO my card

and tell them that I work for many different title cos and that they can request me for future closings.

Reply by desktopfull on 8/10/12 12:58pm
Msg #430025

I close at the Chase branches all the time, they give you a desk and leave you alone. If there are any questions the loan officer is there to assist. Big plus, if fax backs are required the bank will send them and if something needs fixed on the loan they email the corrected doc to the loan officer and the bank prints out what is needed. Usually packages are under 100 pages.

Reply by Karla/OR on 8/10/12 1:42pm
Msg #430027

Huge thanks for your input - was very helpful . . . n/m