Posted by jojo_MN on 7/24/05 9:18am
Msg #54226

Brokers at closings

I've had three different signings in the past month were mortgage brokers were at loan signings. Every one of them spent most of the time joking and getting off track with issues not relating to the closing. One of them even said "how come you are fingerprinting and making them sign your book? I've never seen anyone else do it!" He was making remarks as to the documents being signed as well. Don't they know the docs? I've kept my patience each time because they all asked for my business card and didn't want to ruin any future business.

The signings took twice as long for all three of them. What would be a diplomatic way of handling it?

Reply by SonkatNJ on 7/24/05 10:09am
Msg #54231

In my experience, the brokers are always obnoxious. They have dinner with the borrowers and then I arrive with the paperwork. Some of the most obnoxious I have run across are connected with Chelsea Title. They don't won't you to upset the borrowers by answering their questions or letting them know what the document is they are signing (within our limitations) or heaven forbid, telling them about the RTC.

Reply by Joan-OH on 7/24/05 10:20am
Msg #54232

I've only had that chatty experience once. All the other times the brokers usually say "This is where I take a break and let her take over" I must just LOOK bossy! LOL. Usually, when I meet the broker I ask "Do you want to handle the presentation and have me notarize or do you want me to do what I do?" This always backs them off and sometimes it can be handy to have them there to answer questions.

My biggest problem with brokers at the table is if you are running late because of a prior closing that went over, they are all waiting on you making you look bad in the title company's eyes. The borrowers usually understand, but the broker expects you to be on time. Easier said than done at the end of the month.

Joan-OH

Reply by LawrenceOK on 7/24/05 11:04am
Msg #54240

Dont ya just love em, lenders included. I take instant command of my presentations. I once handed the lender my stamp and told him he could notarize them, jokingly of course but he got the point and shut up.

Reply by TCMN on 7/24/05 12:51pm
Msg #54257


That's starnge, everytime I have had a broker at the closing, they have called me after they've left their borrower's home and told me that they we're very impressed as to how I conducted the closing and they would request me for all of their closings from then on. They say it's refreshing to have someone that knew the documents so well, that I didn't have the table filled with papers all over, that I didn't go on and on about the docs and just breifly explained and said, sign here, that they didn't have to asnwer very many questions at all because I presented the docs with confidence and the borrower was secure in what their loan officer had gone over with them along the way. I have had brokers that were very "chummy" with their borrowers but I think it's how you carry yourself and take care of the situation and the other people should be able to "get" how it should be conducted. I like it better when the loan officers are there...then you know you shouldn't have any issues of the borrower's not knowing something or having surprises at the table. And I've never had any take longer than maybe another 5 mins more than usual. I take a few minutes at the end to comment on their home or whatnot and that is sufficient.

So, I like it when the brokers are there...jmho

Reply by BrendaTX on 7/24/05 1:10pm
Msg #54260

Re: Brokers at closings - Just a comment...

My TC insiders have told me that they are not using some signing services becauuse they notaries are not dependable and don't know what they are doing.

I say - well, hire the SA directly and use the ones that are good. You cannot get experience for the price XXX SS pays.

GO FIGURE.

Reply by BrendaTX on 7/24/05 1:11pm
Msg #54261

Re: Brokers at closings - Just a comment...oops...

I meant to add that the mortgage clients of the TC are complaining...thus the reason for some of them attending.

Reply by KAY RHODEN on 7/24/05 5:33pm
Msg #54311

Me too! The more we get our names out there....the more calls we'll get

Reply by CarolynCO on 7/25/05 9:11am
Msg #54456

I have one particular TC that I always do reverse mortgages for. The loan officer is always present. Although with the first one I felt intimidated because he took charge of the signing, after about 15 or 20 minutes of brooding, I decided to use it as an opportunity to learn about reverse mortgages.

This guy has a great way with these older people. Now does his thing and explains the financials and sits back and lets me handle the signing until he's needed to answer or explain what would be considered UPL for me.