Posted by J.C., Calif on 9/11/04 12:07pm
Msg #7729

Awkward situation

I had a situation just the other day where when I arrived at the borrower's house (there were four borrowers signing the docs.) the first thing out of their mouth was, "we don't think we want to sign anything right now. We told our loan officer we wanted a fixed rate but it looks like he is giving us an adjustable rate." I thought to myself why in the world does the loan officer want to prepare the docs. for borrowers signatures when he has not properly explained the terms of the loan to his clients? I told them that is a questions they need to discuss with their loan officer when he arrives (he was supposed to be there at the signing). To make a long story short, they understood that they have the right to cancel and I had the borrowers start signing and midway through he showed up. They did finish signing everything.

I thought about the situation later and decided that from now on if something like this happens in the future, I will just have the borrowers wait until the loan officer shows up to talk to his clients before signing anything. Anybody have a better suggestion? I would welcome your suggestions. Thanks.

Reply by Bob-Chicago on 9/11/04 12:45pm
Msg #7734

Right the first time

Reply by Bob-Chicago on 9/11/04 12:53pm
Msg #7735

OOPS

As long as you are there anyway , start them signing. When the L/O shows up, they will either finiish signing or not. If they take the loan you're part way done. If they deicide not to sign, the trees were dead anyway.If the L/O has not shown up by the time you are finished signing, then take the signed docs, leave their copies as you normally would and make like a banana and split.

Reply by Bob-Chicago on 9/11/04 1:05pm
Msg #7736

Follow up

On the few occasions when a L/O is at the signing, remember, YOU are in charge. Try not to let him take over. If there is a question on loan terms, or if they need to be "sold", that is his job. If you know your business and are confident, this may l even work if they have an attorney present. Be respectfull, but be the boss.

Reply by HisHughness on 9/11/04 1:34pm
Msg #7737

Re: Follow up

Bob-Chicago, Chicago cautioned:

***Be respectfull, but be the boss. ***

It may be necessary sometimes to tell a woman to "be respectful." It is almost always redundant, however, to tell any woman to "be the boss." Much like telling a water buffalo with a toothache to be agressive.

Reply by nah_AR on 9/11/04 8:06pm
Msg #7756

Re: Follow up

***It may be necessary sometimes to tell a woman to "be respectful." It is almost always redundant, however, to tell any woman to "be the boss." Much like telling a water buffalo with a toothache to be agressive.***

Finally...a man who understands women. Where have you been all my life!!!

Reply by J.C., Calif. on 9/11/04 8:36pm
Msg #7760

Re: Follow up

Yes, I was in charge but I was not bossy. The strange thing was that when the L/O showed up, they never asked him any questions. They did though ask me a few questions regarding the docs. He just set there very nervous. He was still there when I left so maybe they talked after I was gone. Thank you for the advice.