Posted by Calnotary on 8/15/12 9:27pm
Msg #430627

What's wrong with this picture.

I have 2 title companies that are always late with edocs. Mostly 90 minutes before appt I get docs.
But all of a sudden I am getting docs 5 or 6 days before appt! Are they too slow that they have the time to get them on time?

Reply by GOLDGIRL/CA on 8/15/12 11:08pm
Msg #430634

You're parnoid n/m

Reply by GOLDGIRL/CA on 8/15/12 11:11pm
Msg #430635

Woops. You're paranoid!

You're like me: Unhappy about late docs and now that they're early, you're suspicious. LOL

Reply by 101livescan on 8/16/12 7:00am
Msg #430653

Gotta ask ourselves, just why are docs late? Not TC's fault.

I watch these docs arrive all the time. The HUD is the very last detail. It can't be prepared until the "DOCS DEPARTMENT" at the lender generates them and the escrow officer receives escrow instructions from them on CONDITIONS and final fees, so they can calculate prorations of taxes, daily interest on the new and the old loans, whether lender needs a year's prepared insurance, are there existing liens other than the old loan out there that must be satisfied to close. All kinds of issues, and then, if the docs arrive at TC, and their are misspellings, well, it's a redraw.

It's amazing to me how many things can go awry before we can get the docs in our email to print, and UNPREDICTABLE.

So the doc drawer has gone home, and docs can't be corrected and resent until the next day!

Reply by ikando on 8/16/12 10:46am
Msg #430673

Realizing that we live in a society of instant gratification, I question the waiting-to-the-last-minute of document completion. In the "old days", we would receive docs overnighted to us for closing. That would have required document completion at least a day ahead of the scheduled closing so that the numbers really were final.

The second half of that process asks the question, why is the closing scheduled if the docs aren't ready? I've gone to closing with signers who are still negotiating the numbers as I'm driving over with the package, and it's not been EOM.

My belief is that a lot of problems and errors would be avoided if everyone were allowed to breathe and review everything without the pressure to get it done immediately if not sooner.

Reply by JanetK_CA on 8/17/12 12:14am
Msg #430775

Then there's the other side of the fence... I had a signing last night where I just had enough time to print, do a quick prep and hit the road. At the table, I realized that the document date was for today, not yesterday, and they were date sensitive. Only person I could reach (from a good ss client) suggested that we sign them anyway, just in case, so we did. Sure enough, I was back out there late this evening signing them again. Fortunately, the borrowers were very nice people and didn't complain.

BTW, when I spoke to the ss contact, I was told that the tc person had called with this one as a rush, rush yesterday. I guess anyone can make a mistake, but when we're all constantly in that hurry up mode, it doesn't help. I have seen a lot of sloppy work lately from tc's I had another appointment this evening where I had to go back to get signed all the title docs, which they forgot to send to me the other day. (At least they were honest about it, but it was such a flagrant omission, that there was no way they could have done otherwise.)

These docs were such a sloppy mess, I was embarrassed to present them to the borrowers, although I tried to keep it to myself. One was a LPOA that had a lot of spaces where someone should have typed in all kinds of specifics. It's clear they were intended to be filled in on a pc because the spaces weren't big enough to enter whatever info they were looking for. I wish the folks who send out stuff like this could see how bad it makes them look. There's only so much we can do to try to cover for them.

Having said all that, my guess is that many of these companies are operating with thin staffing levels. They pared down after the meltdown and are now afraid to staff up too much because they don't expect the current burst of activity to continue forever. At some point, interest rates WILL start to go back up and refi activity will likely slow dramatically. So they struggle through as best they can for now. Again, just a guess...

Reply by Jessica Ward on 8/16/12 12:20pm
Msg #430702

I've been seeing a trend of earlier docs, & less EOM rush

My workload is more spread out over the month, and I regularly have docs 3-5 days in advance, and can seldom accommodate last minute signings anymore, because I'm booking 2-3 fully, with many appointments for loan closings scheduling 2 weeks in advance!

Honestly, I'm a little mystified at how they can pinpoint a closing date two weeks out!

I'm a planner, and have no tolerance for last-minute nonsense when it could be prevented, so I'm loving this new trend--it's very refreshing. I can now plan things--doctor's appointments, adventures with the kids, etc.

I thinned out a lot of bad clients last year, but really had not seen this new early-to-everything trend until about April of this year.

Reply by ikando on 8/17/12 7:29am
Msg #430781

Re: I've been seeing a trend of earlier docs, & less EOM rush

Jessica, with the long lead time, are you still expected to print the docs?