Posted by HSH/WA on 5/7/13 6:16pm
Msg #469076

"Did LO tell you your check amount?" n/m

Reply by HSH/WA on 5/7/13 6:20pm
Msg #469077

Re: "Did LO tell you your check amount?"

"No he said the notary will tell me." Excuse me, it is often kind of late when we get the docs, I wish the LO would take it upon himself to tell "his" borrower how much he needs to bring to closing.

Reply by sigtogo/OR on 5/7/13 6:27pm
Msg #469079

agreed, but the number needs to come from escrow/title imo

I had one a couple weeks ago that the LO had given them the amount. it was wrong, they had a cc check that was short 61 cents! title initially said they had to get another cc check until I convinced them otherwise

Reply by Barb25 on 5/7/13 7:18pm
Msg #469087

Hmm. Does anyone see what is wrong with this picture

The notary is not responsible for any more than getting the paperwork signed correctly and notarized. Take it Fedex or UPS. You are done. You should not convince them to accept the check. Not make sure they have the check and all the other things that have been passed on by virtue of the fact the somebody said let the Notary take care of that. Like making copies of the drivers license, explaining all of the costs on the HUD, and so forth and so on... If it can't close it is not your fault. And if it does you don't get the credit....

Reply by sigtogo/OR on 5/7/13 7:24pm
Msg #469089

really? you never collect funds due? that's the way of the n/m

Reply by sigtogo/OR on 5/7/13 7:25pm
Msg #469090

oops

that's typical closings in Oregon and I imagine in many states

Reply by Barb25 on 5/7/13 7:34pm
Msg #469093

Of course I collect the funds due. Listen up not what I said

I said: You should not have the responsibililty to make sure the borrower knows the amount to have. The Title Company, loan officer, somebody involved with the loan ... not the notary should be in touch with this borrower ..... explaining all of this. Not the notary when the docs arrive. Also I said ... the Notary should not have to convince the escrow people to accept a check that is short 61 cents or any amount. What would make you think I said I would not pick up a check and put it in the envelope...????

Reply by bagger on 5/8/13 7:34am
Msg #469118

It is so often that we get docs late.....

So, we are expected to call the borrowers 45 min before closing and say, "O by the way, you will have a cashier's check for me in the amount of $1, 687.32 won't you?"

Reply by Linda_H/FL on 5/8/13 8:59am
Msg #469129

What I do when I get docs and see this

is call the borrowers and confirm that they're aware they need to have funds for the loan - many times I've saved a trip on this because they say "uhh..no!!"

If it's late, most times I have wire instructions to provide to them. If wire instructions not included I call and request either the wire instructions or another airbill.

Either way - I let borrower know before I go that they are going to need to provide money to title.

Reply by sigtogo/OR on 5/7/13 7:30pm
Msg #469091

furthermore, I like repeat business. If all I did was point

and stamp and not pay attention to the details, I would not have the loyal customers that I have
I have no problem collecting ID at closing, nor explaining how to review a HUD. Of course, I can't tell a borrower the creation of numbers on the HUD; that's for title or LO, but I can certainly explain what is there and have saved a number of deals by doing so. It really can be just a matter of an easy explanation. IMO

Reply by Barb25 on 5/7/13 7:41pm
Msg #469094

If you can tell a borrower how the bank came up with all the

numbers go to it. I am not looking for a fight with you. For all I care bring your vacuum and do the floors. IMO. What started all this. I have been doing this 12 years and I have never done a point and sign closing and I never said that. So I don't know where this is coming from. This was never meant to be critical here of you. It was TCs taking advantage of situations and putting notaries in awkward positions and situations and somehow you got your knickers in a bunch and what I don't know. So whatever set you off, I'm sorry.

Reply by Barb25 on 5/7/13 7:50pm
Msg #469095

Re: furthermore, I like repeat business. If all I did was point

And I do think it is nice that you are saving all these deals. The point I was making (or trying to in your or any notary's) defense is that it is the Loan Officers responsibility to save deals. Perhaps he/she could come out and do the notary's job. (Now that is sarcastic.)

Reply by Linda_H/FL on 5/7/13 9:10pm
Msg #469102

I'm just going to say here..that if I'm contracted to do

a signing, and part of my instructions are to make sure I pick up a check for $xxxx, I do feel it's my responsibility to make sure the signers have that check available for me. and that the check is for the right amount - before I print and go. Just like I tell them have copies of ID - I tell them they need to have a check for me for <amount>.

Reply by Barb25 on 5/7/13 10:12pm
Msg #469104

Re: I'm just going to say here..that if I'm contracted to do

Look where and to what my comment started. As an opinion only btw. Who knew.

Reply by BobbiCT on 5/8/13 6:51am
Msg #469115

Same as Linda, also ...

Same as Linda. Plus by the time I receive any documents the local banks and credit unions are closed, so borrowers cannot get "certified" check that evening. Even if they are open, the YELLING, SCREAMING, FOUL WORDS DIRECTED AT ME for not calling sooner with the amount and anger at unexpected increases in costs vs. "our loan officer said..." Then there is the great, "Our loan officer said to ignore that. All we have to do is sign the documents. We don't need to send a check." Right - just put that note the package and wait to get paid from that signing.

I DO NOT want to be the FIRST person to tell the borrowers that they need to have a certified or bank check for $X when I arrive. They want to know, "why" and "what for." Connecticut attorneys take a dim view of a non-attorney explaining a mortgage settlement statement to a borrower over the telephone ... unless you are an employee of a law firm calling on behalf of the attorney to clients or representing the lender.