Posted by Anonymous on 10/27/05 12:25am
Msg #72549

What do you do?

You have a collection of closings and you start to run late. Your 11:00pm closing doesn't start till 12:00. What day are you on? Do you have to stop the closing? I know this must have been thought of and taken up before.

Reply by Kim_Cali on 10/27/05 2:39am
Msg #72552

Once you hit the midnight threshold....the date changes. Therefore you sign using the correct date. Did you have an after hours contact number to let the SS know?

Reply by sue_pa on 10/27/05 7:12am
Msg #72556

the docs are to be signed & dated for the day you start. If you've got slow borrowers, at 11:40 you tell them you are going to pass papers and they are going to sign without looking at them. As they look at them tell them, 'we've got to keep moving right now.' Then, they can go back and review what they wish but everything MUST be signed prior to midnight. You tell them if it's not signed by midnight you might as well quit now because the docs are no good after midnight. It's no different than a closing being scheduled for noon on 10/26 and you and the borrower deciding by yourselves that you will sign at noon on 10/27. I can't imagine that even the must difficult borrower would have trouble with this, although I am sure that borrower is out there. I have never done a closing this late but there is no way I would fool around with a date change because the lender isn't going to accept 1/2 the docs on one day and the other 1/2 the next day.

Reply by LawrenceOK on 10/27/05 8:05am
Msg #72575

I had this problem arise one evening. Borrowers were the read every word type. I tried to explain to them that these docs were date sensitive and we needed to hurry. Mrs B states " I don't sign anything without reading it first" When that clock struck 12:01 I called SS & TC (of course all contact #'s are voicemail) and left messages explaining the problem. I started packing up my stuff and explained that the signing would have to stop. I explained to them again that the docs were date sensitive and it would be illegal to backdate and I could lose my commission if I did so. I called the SOS next morning and explained what had happened and was told I did what I was supposed to do as SOS will not tolerate any form of backdating. TC calls SS screaming, SS calls me Screaming, I politely give screaming SS number to SOS.

Reply by MelissaM_FL on 10/27/05 12:16pm
Msg #72663

This is pretty much how I handle it. I let the borrower's know that the docs must be signed and dated before midnight and that we can review the docs afterward. I've never had a borrower have a problem with it so long as they understood that the review would come after and I wouldn't leave until they were comfortable with the information I could present. I also make sure to let them know that their 3-day right to rescind is available for an in-depth reading of the docs.

Reply by Danny_FL on 10/27/05 7:42am
Msg #72564

Just had a late night signing that started at 1045 pm. I went and did all the notarizations first, then went and signed everything else. We still came in under the witching hour.

Danny

Reply by SusanOH on 10/27/05 7:49am
Msg #72567

I had a closing last night that started at 10:30, I was pretty confident that we would get done in less then an hour but you never know, so I always state very nicely but firmly, "These documents are dated for today we MUST get these done before midnight." Never had a problem, come close though finished once at 11:45.