Posted by Monica - FL on 5/19/05 10:31pm
Msg #39167

What would you do?

I was called for a "last minute" closing. Called the Borrower trying to get directions and setting up the time and left a message. In the meantime I printed all of the docs. Then borrower calls and says he doesn't want to close that day but two days later. I told him to call his loan officer. I then contacted the signing company and advised them what the borrower wanted to do. They told me to post to their company on line an invoice for the printing of the docs. I then shredded the docs. On Wednesday the signing company called and said it was a go for signing, use the same docs but just change the date on everything to the actual signing date. I told them that I had shredded the docs. I also explained that I have a lot a closings which means a lot of paper and if a closing isn't going to take place, then I shred thedocs. They got really upset with me and told me that I shouldn't do that unless they tell me to. I told her that I have so much paper here that I don't really need to keep docs for a closing that isn't going to close and how would I know that they were going to have me do the signing on the requested date - or even if I would be available. I guess my question is this - do you keep all of the docs you print for a closing that you don't even leave your house to close because it has been cancelled?

Reply by Sylvia_FL on 5/19/05 10:42pm
Msg #39172

I also put the docs for shredding.

I usually don't prinr out docs until the signing is confirmed with borrower.

Reply by Melody on 5/19/05 11:29pm
Msg #39174

I never print out docs until day of signing.

I never print out docs until borrower confirms.

If both happen and I print and then the loan goes south, then I am happy I used recycled paper. I never expect to be paid for printing.

Reply by Ernest_CT on 5/19/05 11:51pm
Msg #39177

Huh? Why would anyone NOT expect to be paid for printing docs after the borrower confirmed?! For example, I have a 9:00 signing tomorrow (Friday). I printed the docs tonight, during commercials. If the signing gets cancelled before I leave the house, I expect to be paid for printing the docs. If the borrower is a no-show, then I expect to be paid for printing the docs plus a trip fee.

If a signing is cancelled (not postponed!), I always ask the signing service via email whether they prefer to have the docs shredded or sent to them. If the signing is put on hold, I'll keep the docs for a few days, then ask for a shred-or-send answer from the signing service. No docs get shredded without explicit approval from the signing service. But that's just me.

Reply by Melody on 5/20/05 12:06am
Msg #39179

Ernest - you are absolutely right. But I don't work for SSs

Ernest, you are absolutely correct.

If I worked for SSs, I would expect to be paid for printing docs. Or I would hold them, as you so rightly do. SSs' low fees would warrant these payments.

But I only work for title companies and lenders. With TCs and LOs, I have to expect to write off some fees, like printing of docs for cancelled signings and no signs.

I don't mind since TCs and LOs pay more than double what SSs pay. Plus they like me because I never give them grief about small fees like this. I am their first call for my huge county and the next one.

One HUGE nationwide title company recently told me that I am a "1" on their 1 to 10 scale of notaries. Being a 1 means I am called first.

Once you stop working for SSs, you can look at the big picture. With SSs, it is every gal for herself. That is one of my many reasons for hating SSs.

Reply by Sylvia_FL on 5/20/05 12:10am
Msg #39181

Re: Ernest - you are absolutely right. But I don't work for SSs

Melody
I only work for title companies too, but if I print out docs and the signing is cancelled I have always been paid for the edocs.

If it is a no-sign I bill a reasonable trip fee and edoc fee if I printed out docs, and get it. I am running a business and the title companies I work for realize it.

Reply by Bobbi in CT on 5/20/05 6:55am
Msg #39203

Similar to Melody's style ...

If I print Edocs after borrower confirms and signing is canceled or re-scheduled before I leave for the signing, I don't charge for the printing. Because 99% of the time I get the re-scheduled signing, I consider it a cost of doing business. Also, I don't print the Edocs until I have reached the borrower. It seems many lenders are scheduling signings while the borrowers are still "shopping around for the best rate ... I am still working with three lenders ... I will call you if I decide to use this one [the lender that wants the signing scheduled NOW!] ...."

This week when I called to CONFIRM scheduled signings (four different scheduling companies, four different lenders, four 2nd mortgages), I have had four borrowers reply, "Don't call me, I'll call you, when I called to confirm a scheduled signing appointment." It appears to be a "sophisticated with good equity margin and income stream borrower's market" right now. With rates changing daily, these people are shopping for the best deal.

Only twice in the past 12 months have I gotten an Edoc package more than three hours before a signing. I rarely have a problem with documents being printed and the signing canceling before I leave the driveway. Usually I am the one re-scheduling the signing for a later time because I don't have the Edocs or they are still running hot through the printer.

Reply by TN Notary on 5/20/05 8:53am
Msg #39213

Did you delete them off your computer? I usually keep them on my computer for a week then delete I also wait before shredding aleast a week or 2. Make sure you bill them for printing the docs. If choose to do it. Add the printing charges for the first set of docs.