Posted by Peg on 8/1/06 9:13am
Msg #136445

Lynn NC...

IMO (think on this one...)

If it was you sitting at that table with a stranger sitting accross from you saying hurry hurry, would that make you think twice with what you were about to sign?

In the end, this is thier money, thier loan and the borrowers obligation to pay back. As a notary we are there to have them sign. As a Signing Agent we are there to ensure (to the best of our ability) they are understanding what they sign. (if not you tell them to contact thier loan offer!)

Sometimes it takes time.

Do only to others what you would want done to you! Respect Others the way you want to be respected.

IMO

Reply by Peg on 8/1/06 9:19am
Msg #136446

Re: Lynn NC... UPDATE

In my opinion, and everyone knows what those are!!!! .. its all about how your run your business.

What was that connection worth to you.

Sorry if it seemed off key.

Peg

Reply by BetsyMI on 8/1/06 9:30am
Msg #136447

I think that if you read all of Lynn's responses, she does respect others and did a great job. You would have been exasperated too by the time you got to that signing only to find you were going to be there another three hours.

You're correct in that the borrower's have every right to read what they are about to sign, but any idiot can skim all the paragraphs in a mortgage and see if there are any read flags. To allow someone to sit and read for hours when it's near midnight is crazy, and these people definitely have a control issue.

I think this subject has had enough discussion and I think Lynn is a good SA. Nuf said.

Reply by LilyMD on 8/1/06 9:42am
Msg #136449

I agree with you, Betsy. Lynn's posts don't reflect a lack of respect or a poor "people sense." I think that exasperation is the big factor in that situation. Who hasn't had an exasperating day in this line of work. I don't think Lynn was trying to infringe upon the borrower's right to read every word, just trying to get through a long and frustrating day.

Reply by Peg on 8/1/06 9:48am
Msg #136450

nuf said?

why do folks even open thier mouths here.... its ok for you to give an opinion? but when YOU feel you have heard enough on this subject you get to tell me and everyone else ... to stop talking about it.


ugh!

(There are days when I just hate this place yet, like a train reck .. I must come back and look at those who have been traveling down the path of the train! oh how sick!)


I SAID many MANY times IMO (IN MY OPINION!) and apparently I wanted my opinion to be seen therefore I started a new thread.

Thanks for telling me your opinion of me, I definately needed that to make my day! However, Nuf Said? well thats to be determined by EVERYONE ELSE WHO MIGHT HAVE AN OPINION TOO!!!!!!

STEM NOW BLOWN OFF...

I did not mean to be hurtful or bashin' by any means ... just stated that its about how you run your business. I would not have; and many others would not have; handled it that way. Furthermore, I THINK IMO THAT THIS Subject DEFINATELY NEEDS MORE DISCUSSION!!!!!!!

Have a great day dear.

Reply by LilyMD on 8/1/06 10:26am
Msg #136457

Wow! Peg

Your response does come across a bit "...hurtful or bashin'..." You seem to be bashing the very thing you want to make a point of! It's your opinion vs. another. Obviously, you're discussing this alone until someone decides to join in. That's the way this "train wreck" works.

Have a better day.

Reply by BetsyMI on 8/1/06 10:38am
Msg #136459

Whew, you're sure hot under the collar, Peg. Must be the hot temperatures lately that are giving people short fuses. I never gave an opinion of you in my reply as you suggested I did. I only said that Lynn was a good SA.

And IMO 35 responses to the original post seems to be "nuf said". Sorry that term offended you. I thought you were sort of "preachy" in your advice to Lynn saying "do unto others.." as if she doesn't do that every day of her notary life. Again IMO. Dear.

Reply by Poppy on 8/1/06 10:35am
Msg #136458

Any idiot can skim all the paragraphs in a mortgage?

Not to start an argument... (honestly) I'd just like to put a thought out there.

I respectfully disagree with your statement Betsy... Perhaps most semi knowledgeable notary signing agents, loan officers, title agents, and maybe even a few Realtors would be able to skim the paragraphs of a mortgage and look for red flags since (hopefully) we all care enough about being a professional in our profession of choice to have actually read through an entire mortgage to make ourselves aware of the common mortgage clauses. However for many borrowers this is the first time they've seen a mortgage and it can be a very scary thing to sign a paper binding you to what is more than likely the biggest debt they will ever incur.
There are clauses in a mortgage that if read and understood would cause a concern for many. For example most of us aren't aware that when a borrower signs a quit claim deed at the table to take the trust off title only to have the title company but the trust back on title after the close. This can trigger the due on sale clause in their mortgage. (it's not just for a sale it includes transfers)
I think it makes perfect sense to want to do more than skim and no way could an idiot catch the intricacies that took many lawyers to create.

JMHO, but I thought I would toss it out there as something to think about.

Kindest Regards and have a great day all!

Reply by BetsyMI on 8/1/06 10:45am
Msg #136460

Re: Any idiot can skim all the paragraphs in a mortgage?

Poppy, you're right, I shouldn't have used the word "idiot". The closing process can be scary and I try to make the borrowers feel at ease throughout the closing.

For me, looking for red flags would be looking for prepayment penalties, balloon payments, excessive fees, etc. But of course those are not found in the mortgage anyway.

Mortgages appear to be computer generated with the borrowers name, address, and legal description of the property imported, but have the same or similar legal language throughout. I believe more surprises are found on the HUD, the TIL, and the Riders, so reading the mortgage in detail, to me, seems unnecessary. I have no problem with the borrower skimming each page of the mortgage.

Reply by Poppy on 8/1/06 10:56am
Msg #136462

Re: Any idiot can skim all the paragraphs in a mortgage?

Betsy,
I have no doubt that you do an excellent job and care about your clients... I hear you and I understand exactly where you're coming from and after reading the thread that I think prompted this post I understand where Lynn was coming from as well... (smiles)

Reply by MichiganAl on 8/1/06 10:25am
Msg #136456

Peg, Lynn's problem wasn't a lack of respect. If anything, it was too much respect. She tried so hard to accomodate everyone through late docs, location changes, printing problems. Honestly, how many signing agents would have gone through what she did to try to get everyone taken care of? How many would have even been there at 11 p.m. trying to get it done? That was probably the worst day she's had as a signing agent and she hung in there like a pro. If what you got out of all that was that she had a lack of respect and do unto others blah blah blah, then you completely and utterly missed the mark. Oh, in my humble opinion.

Reply by BrendaTx on 8/1/06 10:55am
Msg #136461

Re: Lynn NC...Since the subject is here again...

I'd just like to re-emphasize a point that title company rooms are booked for one hour at a time for a reason. They were there and doing this work of "closing" loans long before the signing agent.

History speaks for itself. This alloted time seems to work more than not.

Apparently, an hour is not an unreasonable amount of time to consider sufficient for an appointment.

For those who totally disagree with Lynn, if you will carefully re-read her statements, please then explain exactly what YOU would have done from start to finish, not what you don't like about what she did in stopping a reader from keeping her there all night.

We might all learn something from it that we had not thought of.

Reply by Becca_FL on 8/1/06 11:05am
Msg #136464

Re: Lynn NC...Since the subject is here again...

I missed the thread yesterday and went back to read some of it. I posted this reply, as it has worked for me many times.

Lynn, Just a few things for you. One, Set email deadlines and stick to them. It sounds like you cover a large area. You might want to start saving for a mobile office set up.

As far as the readers of the world go, I explain that I allot so much time for their signing and have another appointment after theirs. The Federal Government wants you to read and understand your loan and that is why you have the recession period.

To that I might add, depending on my mood, Gee, I'm terribly sorry that your LO did not call and go over the terms of your loan to better prepare you for the closing tonight.

Reply by Brenda/CA on 8/1/06 12:56pm
Msg #136477

Re: Lynn NC...Since the subject is here again...

I don't think we should feel obligated to sit at someone's table for 3 or 4 hours beacuse they want to read everything. That is the purpose of the RTC, it gives them 3 days to read everything over. In my experience the most important issues to the majority of the borrowers are: interest rate, loan fees, pre-payment penalties, cash out, pay-off list, 1st payment date. I had one signing that took 3.5 hours it was for an eldery man, with rheumatoid arthritis in his hands, they were extremely swollen and painful, and he signed his name very slowly (eldery people and/or handicap are the exception, be patient no matter how long it takes, we will all be there ourselves someday).
JMHO

Reply by BrendaTx on 8/1/06 1:13pm
Msg #136485

Re: Lynn NC...Since the subject is here again...

**I had one signing that took 3.5 hours it was for an eldery man, with rheumatoid arthritis in his hands, they were extremely swollen and painful, and he signed his name very slowly (eldery people and/or handicap are the exception, be patient no matter how long it takes, we will all be there ourselves someday).**

Brendas think exactly alike.

Stroke victims, physically challenged and elderly will get a wide berth from me. I will re-arrange my schedule when that happens.

Unfortunately, Beneficial Finance does not. I once had a stroke victim. The Beneboys want 20 minutes in the closing room...and very pretty docs. It was impossible. I gave the pacing LO's (or whatever they are called) there some pretty serious looks as it took him 2 hours to sign. They were fit to be tied for no reason. No one was waiting on the room. Ridiculous.

If they had allowed for an X that would have been better. I don't do many for Beneficial b/c they don't call me since I do not shove the papers down the bwrs throats...I mean, c'mon 30 minutes is not asking for a lot...Oh I can do in 20, but that's when I feel like a witch.

My rating is perfect with IREP but I will NOT rush a borrower to the extreme like that...it's just this way at my local branch. I have reported it to IREP but ... well...that's another story.

Reply by Brenda/CA on 8/1/06 4:54pm
Msg #136533

Re: BrendaTx you know what they say about great minds!

**Brendas think exactly alike.**

B = brilliant
R = resourceful
E = ethical
N = nice
D = dependable
A = articulate
S = savvy

And above all full of BS!

j/k have a great day.

Reply by NCLisa on 8/1/06 9:32pm
Msg #136592

Re: Lynn NC...Since the subject is here again...

I've worked at many TC's and law firms that book a room every hour, but if someone insists on taking there time, we let them read. Sure it has totally ruined our scheduling for the entire day, but it is the borrowers perogative. If it is a purchase, well then you have realtors there, etc, so that always tends to slow things down because realtors can get chatty.

I worked at one law firm that had 5 attorney's with 5 conference rooms and we would book 40 closings on the last day of the month, we started at 8am with the 5 conference rooms, and no matter what, it never failed, there were still people in the lobby waiting to close at 10pm. Not to mention we were required to work from 6:30 am to at least 1am the last week of every month!!! (NEVER AGAIN!!!!!)

Reply by Bob_Chicago on 8/1/06 12:55pm
Msg #136476

Won't get into middle on this one, but tip re: "readers"

Somethimes you can stand on your head and get a note
from the Pope that the dox are ok to sign and it will not work.
I , however, have had success as to the Note and Mtg by
pointing out the language usually found on the bottom of
the first page, "FannieMae/FeddieMac Uniform Instrument"
I point out that these are the Federal Government related
agencies that purchase Mortgages, and that this is basucaly
the same form or Note and mortgage
that nearly everyone in their state signs
Frequently works.

Reply by Becca_FL on 8/1/06 1:07pm
Msg #136481

I do this too and....

give them the rundown, you need to make your payments, pay your taxes and insurance, don't build bombs in your backyard and the lender will let you keep your house.

Reply by Bob_Chicago on 8/1/06 1:34pm
Msg #136495

Pretty close, I usuallly say something like......

"The rest of the dox generally say , you live here, you told
them the truth , will pay them back and not
open a used car lot in the back yard. "

Reply by BrendaTx on 8/1/06 1:36pm
Msg #136497

Re: Pretty close, I usuallly say something like......

This is great. I use the same basic line except no car lot, I say, "you won't dump toxic waste in the back yard...pet presents do not count."

Lawsy, we all have our little one act plays, don't we.

Reply by sue_pa on 8/1/06 1:44pm
Msg #136499

Re: Pretty close, I usuallly say something like......

To me this sounds absolutely like UPL and I usually roll my eyes when I read on these boards what some people consider to be UPL. Summarizing a 16-page legal document into those few words sounds iffy to me - to me they truly don't need to know up front every clause in that mortgage because as Bob stated, everyone signs it but I personally would never pick out those few clauses and skip the rest - if you want to go over it with the borrowers, I'd have them review the headings for every paragraph - I don't do that nor do I intend to start.

Reply by BrendaTx on 8/1/06 1:57pm
Msg #136501

Re: Pretty close, I usuallly say something like......

Well, sue, since I am so busted, I'd like to argue with you on it, but you know, you are probably very right about that. Thanks for giving me that to think about.

Reply by asigner on 8/1/06 2:01pm
Msg #136503

one person's UPL is not necessarily another person's UPL

Every state is different on UPL. I know that Louisiana's doesnt say shut up, stamp here, sign here, and then leave. IMO, I think you will always have borrowers who question and as Bob put it - you can be concise and answer - then add "however if you have problems with anything you read, please feel free to contact your LO for clarification." and also there is absolutely nothing wrong with contacting your attorney if you feel uneasy, you have 3 days to make your decision. I try to at least comfort them. Some signings are done late at night and LO are not readily available.

Reply by Bob_Chicago on 8/1/06 2:29pm
Msg #136512

Before we all go off on a UPL tangent, my little.......

"tag line" is NOT used in describing the mortgage.
It is somehing like I say before getting into the rest of the dox ,
such as occupancy affidavit, compliance, w-9 .1003, name affidavits, etc.
And I do give them a few word discriptiion when I present those
dox for signature.
Now may I leave to go do the rest of my signings?

Reply by asigner on 8/1/06 3:48pm
Msg #136527

oh yeh upl- and for the record

it also DOESN'T say to blow smoke at everyone - so ---- LESS said the BETTER- bye g2g2

Reply by asigner on 8/1/06 1:45pm
Msg #136500

very cute and original, bob - i like n/m

Reply by MichiganAl on 8/1/06 2:38pm
Msg #136514

Bob, I think this is really worth noting

I point out the "FannieMae/FeddieMac Uniform Instrument" line when I sense a reader as well. It works wonders.

Reply by Becca_FL on 8/1/06 7:47pm
Msg #136574

Yes it does, Al! n/m