While I was at a closing on Saturday, I immediately logged onto an app reporting my completion and shipment status back to the settlement agent. My client was very impressed, and commented on how professional this entire process was. It was a modification loan. She was so relieved to have it signed, sealed and delivered.
Our clients don't really know how far we've come.
Overnight loan packages are rarer.
Edocs are the most common, printing two copies and leaving one for the borrower.
Electronic signings have been less common because borrowers prefer "paper" documents, even though they click through the disclosures online with the lender. They still want hard copies.
Technology in handheld devices have changed the way we report status.
The best companies to work for are totally on board with technology.
Remember the days of companies calling you to make sure you're on the way to the signing, you arrived at the signing, you barely sit down and they're calling to make sure you have signed everything, collected funds, and are on the way to faxback or to ship the documents? NSA's actually were spending more time talking to the scheduler than doing the signing!
Crazy. Most professional settlement agents don't micromanage their NSA's that way because they know their well chosen NSA's know what to do. The professional NSA immediately returns the documents so that they can be faxed back to the lender to get back in line for the final document review and funding/recording.
Now, I've noticed that there are a couple SSs that want the NSA to capture critical documents on their smart phones or Ipads, notebooks, etc. and get these in from the signing table. But the fees aren't reflecting these extra skillsets or the time involved to accomplish these tasks.
My, how the industry has changed.
Makes it even more essential for NSA's to have a list of the good guys to work for, and not leave to chance the expanded scope of work for peanut fees.
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