Posted by PJM/MI on 11/11/05 9:17am
Msg #75846

Loan officers.. URGH

Well, this hasn't been the best week for me. I had one bo (no close docs) call up the tc and tell 'em I told 'em not to sign, (urghh), and then I did a closing yesterday where the lo was present. Tc called me this am.. the lo told the tc HE had to do all of the work, and I didn't explain a single thing! He jumped in, right at the beginning and informed me, "I used to do closings, so I know all about this". Okay, fine... you wrote the loan, go right ahead.
I explained to the tc exactly what happened.
Thank goodness this tc is one of my best customers! He told me the same lo has complained about EVERY closer at EVERY closing. Still ticks me off and makes me doubt myself.. and I've been at this game for 6 years.
Just venting...
Hope next week is a whole lot better!

Reply by Janel Nichols on 11/11/05 9:46am
Msg #75858

That is very frustrating!!! One word against the other. I have never done a signing where the LO was there. We must live on the back side of the world here in WI!! But I have had a situation where the borrowers have said things like that! Even after I explained the "Hold Harmless" agreement that we are not to dicuss or give advice. Good thing I have them sign it. It has been very handy in some situations...hope things get better!!!

Reply by Beth/MD on 11/11/05 10:06am
Msg #75860

No Janel, you're not the only one who's never had a loan officer sit in on a signing. I never have either. I don't think I would work well like that!

Reply by Art_MD on 11/11/05 10:17am
Msg #75867

Over the years I've probably done 6-7 where there was a LO present. Never a real problem, only once did I have to diplomatically say "Either you do it all, or shut up unless the borrowers have a question for you"
If you did a survey, probably would be 95+% of the time a LO at the closing caused no problems.

Art

Reply by CA_Violet on 11/11/05 10:29am
Msg #75871

Re: Loan officers.. URGH Hold Harmless Agreement? NM

Reply by JM_NY on 11/11/05 3:49pm
Msg #75961

Re: Loan officers..

On occassion I have had a LO at the closing. That was because it made the borrower feel more confortable. He deferred to me for explainations. No problem. I knew what I could do and couldn't. It went fine.

Reply by Janel Nichols on 11/14/05 10:01am
Msg #76335

Re: Loan officers.. URGH Hold Harmless Agreement? NM

I constructed a hold harmless agreement due to the fact that sometimes "Crap" rolls down hill. I use it to protect my business and my name. We most likely are the first human they see in all of their dealing with the lender. I make sure I explain that I am a mobile notary service, I do not prepare nor take part in their discussion with their lender, I do not give advice, I just present the paperwork for them to sign and witness their signatures. I am not an attorney...etc. You know the drill. Then they sign it. I got sick and tired of being blamed for errors that title or lender has made. I make sure the borrowers know I am not affiliated with them, they understand that I can not change nor correct their docs. If any question arises with lender or title, then I have their original signature on a document that they signed telling lender or title that I take great care in letting the borrower know what my role is. So if the borrower decides to lie....chances are it won't hold water!