Posted by Margaret S. Craig on 7/15/04 6:24pm
Msg #4486

Initials on the Mortgage

I just had my first, where the title company said I did not get the borrowers to Initial each page of the Mortgage. There was NO line on the pages asking for the initials. Up to now I only had them initial if it asked for it. They told me that the Mortgage and all riders to the Mortgage had to be initialed. The closing instructions did NOT state this. From now on, I will get the initials on all pages.

Reply by EP_VA on 7/15/04 7:06pm
Msg #4488

I only get the initials on all pages if there is a line requesting that each page be initialed. Is this something new that each pay needs to be initialed?

Reply by redonthehead on 7/15/04 9:36pm
Msg #4497

If there are no lines for initials, then it's not initialed UNLESS you are instructed to do so BEFORE the signing. There are no laws on the books for this and yes, it is becoming more common but you can't read the minds of the lenders, etc. If this becomes a concern, just ask your contact person before you go to the signing.

Reply by Margaret S. Craig on 7/16/04 6:15am
Msg #4519

This was a late night signing, I was supposed to get the Edocs for a 3:00pm signing. I did not get the Edocs until 4:00pm and then had to drive 1 hour. So a 3:00pm signing turned into a 6:00pm signing. I called all contact numbers with no answer. I told the title company this and I was given a cell phone number to call in the future. There were no instructions. I had another scheduled signing at 7:00pm and I ended up being late for that signing (my first time ever late) I did call them and they were fine with it. It was only a HELOC that took 45min.

Reply by Sylvia_FL on 7/16/04 7:00am
Msg #4522

Margaret
If you have an edoc signing for 3pm, tell the company that you must have the edocs no later than, say, noon. Tell them you have other appointments you must leave for.
Then if you haven't got them by noon, call them. and call them every 15 minutes if you have to.
Depending on how far the appointment is away, let them know, the last time you call, that it is now too late to do the signing for 3pm, and you have other signings that you already have the docs for and you cannot be late to your other appointments because they didn't get you their docs on time., and you will be happy to fit their appointment in after your other appointments, otherwise they need to find someone else. You were available at the time you agreed upon. It is not fair to your other clients to keep their borrowers waiting because one company cannot get its act together.

Do this, and you will be less stressed about edocs. They will see you (or should) for the professional that you are, that you honour your appointment times. If they don't, then lose them!

Once you allow them to dictate to you the terms of you accepting edocs, they will continue to take advantage of you. The stress is not worth it!

Reply by HisHughness on 7/16/04 7:38am
Msg #4525

On the rare occasion when e-docs are late like that I have cancelled the signing and charged the company a cancellation fee. The biggest problem with e-dox is that the title companies tend to push the envelope and wait until the last possible minute to get them to you. They seem to have little regard for the schedule that an SA must keep. Paul Williamson suggested an approach that has worked for me: establish a drop-dead horizon (two hours, four hours, whatever) for the e-dox to get to you. No e-dox by that time, no signing -- at least by me. I don't need the business that badly.

Reply by Sylvia_FL on 7/16/04 8:28am
Msg #4529

Not always the title company's fault.
Many a time I have called to see where the edocs were to be told they were still waiting on them from the lender. I would say 90% of the time it is the lenders fault that edocs are not on time.

Reply by LorraineK/FL on 7/16/04 4:09pm
Msg #4550

On a recent signing - I waited and waited for the edoc's to come until it became apparent that it was not going to happen before the appt. time. I spent a bunch of cell-phone time, just talking to the company. The doc's finally came through right about appt time. The SS called the borrowers to see if we could schedule for later that evening...and they said no way...Laker's are playing. I told the SS that I would charge for cancellation - they agreed. They called me back and said that they had rescheduled for the next day...and that I could use the same doc's. I agreed to do, no problem. The Laker's lost, and sometime between then and the following day's appt. Borrower is admitted into hosptial. But, they are still wanting to do signing. I accommodated and we completed signing in hospital room - using the little rollee table. I billed the SS for both signings - they only paid me for one. I'm not sure whether to push it regarding cancellation or not, since I accepted the re-scheduling. Any thoughts?