Posted by SarahBeth_CA on 6/16/05 2:34pm
Msg #45237

Prep Time/Proper Paperwork

Being new to the business this is what I am experiencing when doing edocs. I feel like it is taking me forever to print, review and flag, and gather my questions. The latest package had me calling ss to ask where the Settlement Statement is, What type of cert for Compliance Agreement (none was included and I was trained that it must be notarized, both ack and jurat form exists), shipping account info. For those of you who have been at this a while how often do all of these types of questions occur and how has your prep time changed since you first began. Someone (thought it was BrendaTx) mentioned having 4 signings one after another the other day. I can't imagine how that could work when I'm spending what feels like forever to prep for the signing.

Reply by SarahBeth_CA on 6/16/05 2:38pm
Msg #45238

Oh and how long should I wait for the ss to call back with those answers before I just go ahead and call the lender myself?

Reply by Nicole_NCali on 6/16/05 2:51pm
Msg #45248

It gets easier with time

Each package is according to the lender. You will find World Savings only have a dot that needs to be notarized or you may have a Full Spectrum Dynamic Docs which have a bunch of junk docs along witht the security items.

Ask the lender (most ss are clueless) what should be in the package. Set a strict 2 hour time limit on accepting packages because it should only take about a 1/2 for prepping the package.

The return shipping instructions are like this for me, most lenders and title companies who are thorough will provide this information within the packet or the confirmation. If this information is not provided, I ship the documents charging the recipient using FEDEX.

After a whole bunch of signings, I don't let myself get stressed out by the oversights of the SS. I just ensure that the security instruments to even make the loan possible are within the package and if not, that is when I get to calling these people for missing documents.

Reply by BrendaTX on 6/16/05 8:20pm
Msg #45345

Re: It gets easier with time-Ditto Sarah

Lots of people do more than five a day.

It gets a lot easier...it becomes fun.

SarahBeth, even though I had a background in legal and title, I would literally pour over those packages for hours/before/after.

Not so I could give legal advice, but so I could pull myself along as fast as possible in being able to know what info can be found where.

If you know that, you don't feel like a deer in headlights and you can confidently settle the bwr down and focus them on one page at a time. You know that you can assure them that you'll get to the doc they want to see to answer that one.


A little comic relief, a little bragging and a digression ....

This type of bwr is the reason I learned early on to get my facts straight about what I could and could not answer with the docs...I hate looking like I don't know my job, so I prevent it by knowing my job!

One day you will walk into a signing like I had today where the bwr is a zooming multi-tasking wild man running a very successful business that requires a lot of brawn...I had forgotten about brawny men, I've been so busy with making my business work...yeah, he was pretty darn cute...but he was 31. Five more years and he would have been fair game.

I asked him if he wanted to quick closing so he could go right back to work, or did he want me to identify each document for him?

Tell me what documents I am signing.

So we get started with the AIV. Before I have one second it starts...

Him: Where does it say my interest rate? What's my payment?

That stuff in the corner belongs to my roommate. I am very neat.

Can I pay twice a month - every other week to get it paid off quicker?

Me: Tell ya what...it's best if we just go one document at a time. I'll make notes so we can make sure we get all your questions answered.

Him: Do you like XYZ Lender? Why do I have to pay MIP?

I am going to Cancun. What's MIP, exactly?

Me: I'll show you when we get to that document. Yes, I think XYZ Lender is one of the old
faithfuls.

Him: My dad has three army tanks. He collects heavy artillery.

Me: Bet your mother loves that.

Him: No, they got a divorce.

Him: I see you need my homeowner's insurance policy number? Okay. Dials phone w/o looking up number - rattles it off w/i 1 min flat.

Him: What's the appraised value?

Phone rings.

Him: Hey...what's going on? Uh huh. uh huh....let me call you back, I am signing papers.

To me: Psycho. My younger brother's girlfriend is *37* and said someone said something about her...then she hung up on me because I said I'd call her back.

Me: Psycho, huh?

Him: Laughs. Yeah.

Me: I'll be he met her in a bar.

IHim: met my girlfriend in a bar, too. She's a drama queen...but she's older than I am and she knows this *37* year old woman who just called me.

Me: Another psycho?

Him: Yeah.

Me: You a drama junkie?

Him: Yeah. I am going to go ahead and make the July payment.

Him: I am tired of the drama...Do I have to sign all of those?

Him:Are we almost through now?

Me: Yes. Go ahead and get your brother's psycho back on the phone...I'd like to get closure on this latest crisis.

Him: You don't have to rush...want to stick around awhile?

Me: I'd love to but you have to call the psycho and I have to call my GRANDSON.

Him: You have grandkids????

Me: Yes...and a son two years younger than you.

Him: Can I carry your things to the car for you?

Me: No...this is how grandmothers get exercise.

Him: Call me if I can ever do anything for you!

Me: I certainly will. Could be I'll need your services.

Him: Anytime.

(Notary services...he is a notary for business services.)

Reply by BrendaTX on 6/16/05 8:23pm
Msg #45347

Re: It gets easier with time-Ditto Sarah - correction

...he is a notary for business services...

(Notary services...he is a notary for his business services which require affidavits on occasion.)

Reply by DellaCA on 6/16/05 10:33pm
Msg #45392

Hi SarahBeth
I was a nervous wreck with my preparation with docs at first,I found after I did a few, those flags were to time consuming,Sometimes I don't go thru them before I meet the borrowers now time may not permit.
As for how long I wait depends on the ss I usual go ahead with the signing of the other docs hoping they will call before the finish and at that time I have the borrowers try the LO.

Reply by ERNA_CA on 6/16/05 2:45pm
Msg #45243

Re: Sarah call me.n/m

Reply by CaliNotary on 6/16/05 7:20pm
Msg #45331

It's easy. I don't prep for the signings. The only reason I even open the Fed Ex envelopes before the signing is to check the names and make sure the correct docs were sent to me. When I get edocs I just print em out and go. It is not our job to do the type of quality control that it sounds like you're doing. If they don't send the correct docs to me, they can pay me to go back out and get signed what they missed.

As for flagging the docs, I think that's a waste of time. I just hand the docs to the borrower and say "sign here". And the compliance agreement? If it doesn't have notarization wording on it, it won't be notarized. The ONLY document I would ever question if there was no notarization wording on it would be the Deed of Trust. And in over 1000 signings I've never seen one that didn't have it.

It sounds to me like you're taking on way way more responsibility than you need to. Yes, customer service is a good thing, but not if you're screwing yourself to do it. How much additional time are you spending on each doc package? 30 minutes? An hour? That adds up VERY quickly. It would make better business sense to eat the time to go out and make occasional corrections than it does to spend that amount of time on every single signing you do, as most of the doc packages you get are going to be correct anyway. Simple risk assessment.

Being in business means we have to find the right balance of providing service for our clients and protecting our own financial interests (and I include time spent as a financial interest). If you focus on customer service at the expense of your own financial interests you're guaranteed to fail.

Reply by Terri_CA on 6/16/05 9:30pm
Msg #45367

Don't know who trained you with "must be notarized," but it certainly wasn't me! Basically, for any notarizaiton, loan signing or not, if the wording isn't there you don't notarize it, and you don't ask where it is etc.. UNLESS you have been given instructions to do so at the time you received the documents. Please don't assume that because some lenders want that document notarized, that all of them do. Some documents come with the notarial wording (whichever it is); and some don't. We don't question it. If the lender/title/escrow later determines that they want that document notarized, you can be paid for an additional trip.

I have had some loans that the documents do not have a Estimated Closing Statement or Settlement Statement (HUD-1); I might advise the SS or hiring company that it isn't there, but if I don't get one prior to the appointment, or instructions not to go without it, then I'm off. Borrower can contact LO/Title/Escrow to get one.

As for prep'ing the docs. Yep, I do that. Been signing for 2 years, I still do that whenever possible. I don't consider it a waste of my time to make sure that I don't miss an initial, or instructions that may be in the documents that I need to know. Many borrowers have commented to me that they felt very comfortable with the transaction because of the professional way I handled the signing and have stated to me, "You are so organized!" I'm proud of that and by being so, makes them confident in the whole process and my ability to do my job correctly.

Terri
Lancaster, CA

Reply by PAW_Fl on 6/17/05 7:39am
Msg #45457

I certainly agree Terri. If there isn't a notarial certificate (or instructions to add one), don't notarize it. If a "standard" or usual document is missing, then call to see what needs to be done. But don't make an issue of it, unless it's something like an RTC, note or DOT/mortgage.

I have been prepping my signings since the beginning. I think it shows a much more professional appearance to the borrowers when I know what I'm talking about and the docs are presented in a logical order. I just don't plop the papers down in front of the borrower and say, "sign here".

Even when I'm doing month end closings for a local title company (where the buyers are lined up outside my door), I still prep the packages and go through the docs with them.

Reply by SarahBeth_CA on 6/22/05 12:12pm
Msg #46824

Thank you all for your input. You have all given me great information. I know I'm going to cut down my prep time with all of your advice and suggestions. Also thanks for clarifying the notarization of the compliance agreement, I was only doing what I was trained to do. Now I won't worry about that again. Sorry for the late reply.