Posted by jasonste on 4/26/05 10:37pm
Msg #34209

Rude Company

I did a signing for a signing service recently, the appointment was orginally schedule for 2pm, the ss called, saying the docs wouldnt be ready until later, to change the appointment to 5pm, but dont tell the borrower it's because the docs were not gonna be ready. Well, I had already scheduled another signing at 4pm. the ss had already called the borrower to reschedule to 5pm. Well, I called the borrower and rescheduled to 6pm, but the borrower said, let's make it at 7pm, so we will both be okay and at ease, so I agreed. I didnt get back home until 5:30pm from my 4:00 pm signings, so I started printing the edocs, (which were sent at 4:41pm) how they can expect me to print 2 copies of the docs and be at the appointment at 5pm is beyond me. The LO calls at 5:30pm and your supposed to be at the signing at 5pm why arent you there, I explained the situation to him, he says, "I didnt want to be here all night." I explained, there is nothing I can do about right now, it's done already and I'm just now printing the docs. I'm driving to the borrower's house now, right at 7 pm, the ss calls saying the borrower has called the LO asking where I am, I told the ss company I was about 5 minutes away, I was on my way. The borrower calls right after that saying, "Im not home yet, but Im on my way". Apparently the LO called the ss and told them I was not on time and the borrower was getting mad, but the borrower's werent even at home yet, they were running late. I was instructed by the ss to call them as soon as I leave the borrower. I did, and they wanted the tracking number right then and there. I couldnt even get out of the borrower's drive way. This signing company is hard to deal with, almost like a slave driver. I was told if they didnt receive it within 1 hour I wouldnt get paid, and I had another signing at 8:30pm, what do you do in this situation, when you dont have time to do it until later ??

Reply by janCA on 4/26/05 10:45pm
Msg #34212

I would no longer work for that ss.

Reply by Mary/Ca on 4/26/05 10:46pm
Msg #34213

Please let us know who this Company is so we never have to work for them!

Reply by HisHughness on 4/26/05 11:09pm
Msg #34218

My experience has uniformly been that if you simply do not let the SS bully you, then they will back down in a helluva hurry. Explain the situation to them calmly and completely, without making any excuses if none are needed. If they don't accept that, then ask them, "Which do you want to do: apologize for your rudeness and then the two of ua move forward on servicing the borrowers, or come down and close this loan yourself because I'm not going to do it if I hear one more 'cover my ass' critical comment out of you. Now, what's it going to be?"

I tend to be an in-your-face kind of guy anyway. By and large, once we get past the fact that the SS is being a jerk, and I won't tolerate it, they tend to be repeat customers.

Reply by Joan-OH on 4/26/05 11:02pm
Msg #34216

Kind of the same thing happened to me.

I had a 3:30 closing in the middle of a terribly busy day. Last day of the month. I called the borrower to let her know I was going to be late and she said, just call my work right before you get here and I will run home. I said, you are running home from work to sign these docs? That's silly! What time do you get home? She told me 6pm, so I told her I would be there around 6:30. She was very grateful and so was I, it really relieved my very tight schedule.

About an hour later I get called by the title company and just reamed (sp?). Apparently they had just had a good a$$ chewing from the Loan Officer. He had called the borrower's husband, who works nights and woke him up. He asked when the notary was going to be there and he said "I know she called, but I have no idea" Ok, this hubby wasn't really involved in this and his wife had set this up. I had only talked to the wife. LO took that as there must be some kind of flakey notary involved and he called and reamed the Title company. Last day of the month loan and I'm sure his bonus relied on it. Title was near tears and really my fault for not calling and updating, but I was in the middle of a closings scheduled real tight and it happened about 30 minutes after my discussion with the wife.

I think it comes down to the pressure the loan officers put on these people especially on the last day of the month and a good many of them will lie and push everyone around because they are afraid of losing their deal. Ever notice these things happen with it's an adjustable loan, prepayment penalty, large origination fee, and end of month?

Joan-OH

Reply by HisHughness on 4/26/05 11:15pm
Msg #34220

I get the most cancellations when it is an ARM with a fixed rate for the first three-five years. The borrowers are sold the loan based on it being a fixed rate. I don't know if they don't hear the ARM portion of the explanation, or what, but in at least one case I am convinced that the LO had indeed never mentioned that the fixed rate loan would convert to an ARM down the road. The borrowers were quite savvy, and also quite pissed off.

Reply by Kari/CA on 4/27/05 12:07am
Msg #34248

You are so right. I had one tonight, he refused to sign any further when he found out it was not a fixed rate. I suggested he could use his RTC, if he wanted to continue signing, then cancel after he spoke with is LO, but he wanted to get a hold of the LO first. He says he'll call me in the morning to continue signing. O.K.
I don't know why they don't really explain these loans better to the borrowers. The last cancel I had was for the same reason. I had one on friday the husband wanted to cancel right then, but the wife didn't want to cancel, same thing ARM.

Reply by Jeanie-fl on 4/27/05 1:34am
Msg #34264

Re:complications

Signings are often complecated in Florida (or the whole east coast) by lender and title agencies on the west coast. West coast companies act as if there's no time differential. Get real!!! Tonight I had a signing scheduled at 6pm. Got the edocs at 8:15, and the bubble headed California girl said "wasn't I pleased that she got docs out on time?" When I informed her she was 4 hours and 15 minutes to late to be on time she didn't have a clue! Can we all sing "We're off to see the Wizard" song so we can get this gal a brain?????

Reply by ERNA_CA on 4/28/05 12:10am
Msg #34526

Re: Re:complications. I get 6 am calls from east coast :)

Reply by Bobbi in CT on 4/27/05 6:38am
Msg #34275

Same here ...

1. SURPRISE fixed rate converts to ARM in 5 years (or less) with ARM changing up to @2% per year and caps at 10.5 to 11%. (Seems that was what those funny numbers on the TIL estimated payments meant.)

2. SURPRISE prepayment penalty within 2 years riders and the great co-borrower response to angry co-borrower spouse "The loan officer told me to sign and ignore this form. If we want to refinance within 2 years, the loan officer will waive the prepayment penalty."

As to rude company, there are thousands of scheduling companies out there. I would simply NEVER work for them again. I am not that hungry. Same goes for the "quality control" staff who state, "We don't like Connecticut's laws. You must change your notarization to [xx fill in the stupid blank]."

Reply by ERNA_CA on 4/26/05 11:19pm
Msg #34221

Carry fed ex supply's in your briefcase, tracking number will get them off your back.

Reply by Ernest_CT on 4/26/05 11:22pm
Msg #34222

Good advice, ERNA_CA! Thanks! n/m

Reply by Ernest_CT on 4/26/05 11:25pm
Msg #34223

Please, please post the name of the ss! Thanks! n/m

Reply by jasonste_AL on 4/28/05 12:01am
Msg #34524

Re: Please, please post the name of the ss! Thanks! n/m

Professional Settlement is the company

Reply by BrendaTx on 4/27/05 8:46am
Msg #34290

*what do you do in this situation, when you dont have time to do it until later ?? *

Do all you can to do the best you can at the right time.

After that, things are out of your control and you have no reason to stress.

Water off a duck's back.

Reply by Fefe on 4/27/05 9:08am
Msg #34295

WHO IS THIS CO.?

Reply by janCA on 4/27/05 11:19am
Msg #34318

Re: 80/20

Had this happen yesterday. Borrower was doing an 80/20 loan. Not only did he not know that the 80% loan was an ARM, but he didn't know the 20% would have a Balloon payment due in 5 years. Said the LO had never discussed this with him. He signed the docs but I'm not so sure he won't be rescinding. Also, when these docs arrived at my doorstep, they were not in an envelope but an actual FED EX box. I thought, what the hell, I was not told this was a double loan. I shot the LO an invoice for the additional fee. He called and said he had never been charged for a double loan, that this was an 80/20 and considered one loan. Huh? I said, that's because you're in an area with a saturation of signing agents and they will work for that fee. I consider this 2 loans.

Reply by ColleenCA on 4/27/05 11:30am
Msg #34319

Yes!!!

I would consider this two loans as well, and would charge an additional fee.

Reply by SarahBeth_CA on 4/27/05 11:42am
Msg #34322

Re: 80/20

oh please that is most definately 2 loans. Two separate packages each with thier own terms. The borrower will be told to send two different checks each one with thier own loan numbers on them. But the fun doesn't stop there. Wait till the loans get marketed out to loan servicing companies. They could very possibly go to two different servicing companies.

When we first bought our home it was on an 80/20. I too was unaware that it was an adjustable on the 80 and a balloon on the 20. However we intended on doing a refi after a year and just were doing what we had to in order to get our feet in our own house. We instead did it in 6 months because our loans had been brokered out so many times that we counted 4 different servicing companies not including the original mortgage company.

Any LO that will tell you differently is full of stool....

Reply by ERNA_CA on 4/28/05 12:08am
Msg #34525

Re: 80/20

Good luck when you sell the house when title tries to get payoff letters off all the diffrent companies.