Posted by Cris_AR on 10/1/05 7:34am
Msg #68269

Borrower thought I came by to "explain"

I had a borrower who claimed she did not realize she was about to close, she thought I came by to explain? When I confirmed I asked her to have a copy of ID ready so she could sign docs. She was very rude and upset in the beginning, I offered to leave and she said no she wanted to see docs, I pulled RTC first and she ended up signing.
Has anyone ever been in this situation? If so how did you handle it? I was a bit floored yet kept my cool after being yelled at. (I wanted to leave sooooo bad!)

Reply by Danny_FL on 10/1/05 7:40am
Msg #68270

You did good. Takes alot to keep your cool in that type of situation.

D

Reply by Cris_AR on 10/1/05 7:45am
Msg #68272

I wonder if anyone has ever left and for what reason. (other than being asked to leave)

Reply by MelissaM_FL on 10/1/05 8:10am
Msg #68276

I left a closing because Mrs. Borrower was extremely upset that Mr. Borrower's expired ID was not usable for the transaction. While I was on the phone with the TC trying to establish if an affidavit of two credible witnesses would be sufficient for the lender, Mrs. Borrower began screaming at me and then turned and ran down her hallway towards her bedroom. I sat there for a minute, the TC said "Get out!" and I scooped my junk and ran out the door.

Did I mention that the borrower was Haitian? I didn't know if she was going for a gun or a voodoo doll. I didn't want to hang out to find out which.

Reply by Cris_AR on 10/1/05 8:21am
Msg #68278

Oh my!
So far I have been lucky, everyone has calmed down pretty quick yet there have been moments or two when I am really thinking "this is it", I am calm on outside no matter how rude they get. The woman last night even smiled at me as I was leaving.

Reply by DonR_NYC on 10/1/05 9:29am
Msg #68284

It happens but not through any fault of the SA. Too many times the LO/LP never explains to the borrowers what will be happening. How many times do you think the borrowers didn't even know their loan was approved? You will be surprised. And because in MOST cases the SA is the only person the borrower sees face to face we sometimes get the brunt of the borrowers’ frustrations. This is where a cool and professional head is needed to take charge of the situation. And if that means the session is cancelled, so be it. But usually the experienced SA can defuse the situation rapidly and get the job done.

Reply by BLE on 10/1/05 9:58am
Msg #68286

I once had a borrower get so upset because I didn't have his "check" with me. I tried to explain the RTC -- AGAIN, and he still wanted his money. He kept yelling that the money was the reason he was refinancing. I had to leave because the situation just kept escalating.

Reply by Anonymous on 10/1/05 10:33am
Msg #68289

I always say I am a notary. I there to notarize and show you where to sign. I do not know your credit, income or where rates were or are. I always act like am willing to leaving. I tell them rates may have gone up, there might be a $250 redraw on the documents, they can always cancell during recission, they might have to pay for another appraisal. When they think it is going to cost them more money they usually calm down. I tell them I get paid regardless(even when I might not). If I have to come back I might get paid. Twice. Again when it might cost them more money, they ususally calm down.

Reply by BLE on 10/1/05 10:38am
Msg #68291

You must be fortunate enough to only get the "model" borrowers! All notaries give the same spiel about being just a notary.

Reply by SarahBeth_CA on 10/1/05 11:02am
Msg #68295

Chris, did you give your script on the duties of the NSA? If not here goes. After recording the borrowers ID in my journal, just before handing the first doc to them this is what I say.

I am a Notary Signing Agent. My duties are to collect signatures, initials, dates, and to notarize documents. I am an independant contractor, and I am an impartial party in the process. If you have any questions on the particulars of the loan I can't answer them; however we can always call the loan officer if needed. Also there is a document called the Right To Recission that gives you three days to ask your loan officers questions and should you decide to cancel the loan. I'll point out where the particulars are in the docs but since I am not the lender I don't look at the numbers.

So far I haven't had any issues because this puts the borrowers mind at ease as they understand the process better. Oh, and I understand that sometimes no matter how hard you try there will be those who will blow. So I say good luck to us all.

One thing I NEVER

Reply by SarahBeth_CA on 10/1/05 11:09am
Msg #68297

OOPS hit the wrong button. One thing I NEVER, EVER say is I am "just" a notary. To me that is a belittling statement (it really agravates me to see some of the ss contracts that will instruct the nsa to say "just" a notary). Reguardless of how easy it may seem to do the job of the NSA, it is of the utmost importance to do the job correctly. Missing just one initial can delay the loan causing headaches and more. We always need to be at the top of our game. I think being in the mindset of "just" a notary can cause a situation of being too casual where mistakes can be made.

Reply by Anonymous on 10/1/05 11:48am
Msg #68302

Re: Borrower thought I came by to "explain" to Anonymous

I agree w/your first 2 lines, but isn't the rest a bit of a scare tactic? I don't get the acting like you are willing to leave. I totally understand saying if you are uncomfortable with anything, you can call your loan officer with your questions and it is your choice if you want to continue to sign.

But if we tell them rates may go up and they may have to redraw the docs, you are quoting a price that you really do not know, and that they may have to pay for another appraisal, again something you really don't know, and you get paid anyway sounds like you are scaring them into signing as though they will have to come up with more money if they don't sign.

I disagree with that and in my book, it is give legal advice and information you really don't have access to. I explain why I am there only and do not not explain the reprocussions to them if they do not sign. I have no authority to do that. If they want to know what happens if they don't sign, I would advise them to call their loan officer.

Reply by BrendaTX on 10/1/05 12:11pm
Msg #68303

***I always say I am a notary. I there to notarize and show you where to sign. I do not know your credit, income or where rates were or are. I always act like am willing to leaving. I tell them rates may have gone up, there might be a $250 redraw on the documents, they can always cancell during recission, they might have to pay for another appraisal. When they think it is going to cost them more money they usually calm down. I tell them I get paid regardless(even when I might not). If I have to come back I might get paid. Twice. Again when it might cost them more money, they ususally calm down.***

That's disappointing to hear. Aren't you the "cat's meow?"

The part about it might cost you more to the bwr would hit a nerve if I were the bwr.

If you were my NSA on my own refi, I would probably feel like showing you the door...and I might. $250 is little to pay for sending a smart @ss on their way. At minimum, I'd call my lender and if they agreed, I'd say "good-bye."

But, then again I am not at the mercy of predatory lenders. You sound like you do a lot of work for them to get by with such a speech.

No wonder you post anonymously. Very little customer service in your business model.

Reply by TitleGalCA on 10/1/05 1:21pm
Msg #68314

Almost blackmail...by the sound of it N~M

Reply by LilyMD on 10/1/05 2:41pm
Msg #68315

Re: Almost blackmail...by the sound of it N~M

I would never discussed my fees with a borrower. That doesn't belong at the signing table.

Reply by JO_PA on 10/1/05 5:48pm
Msg #68322

Had a wierd one the other night. Borrower was very upset about her loan being "Interest Only". She called her broker to find out why. Only heard one side of the conversation, but heard her ask many times why it was interest only when she wanted a fixed rate. It came down to the borrower's husband, who had done all the work to get the loan and had chosen that option, but we didn't find that out until after the borrower had sworn repeatedly at the broker and hung up on him. The broker called back and told the husband to tell me to pack my bags and get out, that the loan was off.
While the husband was talking to the broker, I got the borrower calmed down, even laughing. The husband came back into the kitchen and told his wife that he got the broker calmed down and the loan was back on. The husband even admitted it was his fault the type of loan was incorrect. Boy, you should have heard the **** his wife gave him, jokingly. She told him he would have to get an extra job to pay for the increase in rate after 10 years.
By the time I left, everyone was happy. Borrower even asked me to meet her for lunch next week, as she will be in my area.

Reply by Cris_AR on 10/1/05 7:17pm
Msg #68327

JO_PA
Maybe we should call you Grace under fire?

Reply by Kevin Thrasher on 10/1/05 11:21pm
Msg #68346

I had a situation similar to that. I politely gathered package told the women I would not be treated in a rude manner and left. I got in the car, called the loan officer explined whatr had just taken place. LO called the person and got them to agree to sign. I told loan officer for me to go back in there I wanted an extra $150. Had him fax a friends office with confirmation of the extra $150. Once the confirmation arrived, I went back in and did the signing.