Posted by Kathryn Fisher on 5/26/06 2:59pm
Msg #122519

How long to wait?

I'm curious how some of the rest of you would handle a situation like the one I find myself in this morning. On Tuesday I agreed to do a signing for ASAP signing service up here in Plumas County. I was told docs would be overnighted to me and arrive Wednesday, maybe Thursday. I called borrower's right away and had no problems. Thursday late afternoon came with no docs (sent via UPS). I called ASAP and they said I had to call the Title Company myself. To me that seems like their job but I did it anyway. The people at the title company would not give me the tracking number (no explanation as to why) but tracked it themselves and said it was out for delivery. This was true however what they did not tell me was that UPS had made a mistake and had the documents out for delivery in the wrong town.

I called back the title company today (friday) and was hotly told by the title officer that I should have phoned her late last night and requested e-mail docs to hasten the process. I told her I disagreed completely and that I felt I was already being made to go above and beyond to find out where the docs were.

Finally today I still don't have them and am rescheduling the signing for Saturday on the assumption they will have come by that time.

My question is, how olympic of an effort should we have to make to get docs? Isn't the weight of that on the Title Company/Lender/Signing Service? I just spoke with the signing service again to tell them I would not wait any longer today. If they show up tomorrow that's great.

Thanks.

Kathryn

Reply by KS_king on 5/26/06 3:12pm
Msg #122525

I think you go the extra mile if you want the money. If you don't get the docs, no signing = no money. Don't forget why you are in this business... to make an income, right? Same here, so I do all I can to get the docs. In your situation, you'd also be starting out a great relationship with the Title company. When you prove to be a responsible and reliable agent, title closers do ask for you by name. After the signing, I would, however, get on the phone with the signing agency and let them know that "they" should have been the one to track down the docs. After all, they are getting a kick back from your work.

Reply by Drakester_IA on 5/26/06 3:22pm
Msg #122532

Good point. But if you spend 5 hrs running after docs and 2 hrs between signing docs, confirmation, sending back etc.... you have spent 7 hrs, divide that by oh say $100.00 you are down to $14.29 an hr minus your gas .... ooops you are now back to an hourly wage of $10.00 an hour, oh and lets not forget if you have to print the docs. Sorry to disagree but if you waste too much time running after docs, you loose. Not the signing company, not the title company and definatly not the borrower. And as you said we got into this to make a living.

This of course is IMHO

Reply by KS_king on 5/26/06 3:31pm
Msg #122537

Of course you should have a limit to everything you do. Making phone calls in between signings to track docs would be best use of time, wouldn't you agree?

Reply by Drakester_IA on 5/26/06 3:37pm
Msg #122539

As long as you limit that time. Consider your time and how much you are charging. Break it down to an hourly rate and as long as you are happy with it, go for it.

Reply by KS_king on 5/26/06 3:45pm
Msg #122541

Are you saying that if you have to make phone calls while you are driving in between appointments, or while you are at your desk printing docs, you need to decide if that's worth while securing a signing? Other than cell phone minutes, what measurable "time" are you referring to that's at loss?

Reply by Drakester_IA on 5/26/06 3:53pm
Msg #122542

I am still refering to the original post of having to track the pages and calling the title and back and forth. Not the odd call of checking on a package. Yes we all have to, from time to time of, check on packages. Kathryn Fisher's original post of calling the signing service who tells her to call the title herself, who tells her they will track it and call her back......

There is a point to draw the line.

Reply by KS_king on 5/26/06 5:47pm
Msg #122564

The original poster said that over a period of a few days she made a call to SS, TC, UPS and TC again. I don't see that being excessive. Yes, I agree that the SS should have tracked the pkg down but I'd rather do it myself anyways instead of sitting around and wondering if the signing is still on or not. The sooner I know the better so I can take or decline another signing when the phone rings. It sounds like Kathryn did not notify TC her findings soon enough after getting tracking info from UPS. But this is not what Kathryn should have done.

Sometimes we need to step in and do a little coordination, and all in the interest of making money in my business. If it takes several phone calls to get the job going, I don't think it's a big deal. You can point fingers later so the TC and SS knows the extra mile you went to get the job done.

You spent time and money to market yourself, and now you have been assign a signing, why let it slip through your fingers because you had to make a few phone calls (even if it was someone else's job to do) to figure out where the docs are?

Reply by Merry_CA on 5/26/06 4:11pm
Msg #122546

Do some online research.... how to establish a basic hourly rate for starts. Learn/research all the elements that go into establishing what it costs you to operate your NSA business. Study, study, study... decide for yourself how much of a profit you need to make. Only you and your own "due diligence" can determine the cost of that extra hour or two or three that you may think you need to put in to rounding up docs for a $50 signing.

Reply by Kathryn Fisher on 5/26/06 4:28pm
Msg #122550

Thank you everyone

You all make some good points. And yes, I can and did tend to other things this week while waiting for those documents. I put my situation out there and to hear your thoughts and it was helpful. I think I will get into the habit of asking for the tracking number wherever possible or just as soon as I suspect something might no be quite on track. My mistake this time was letting the title company keep me in the dark about the tracking number. Had she just given it to me when I asked I would have known when the docs were actually dropped, where they were and that yesterday they were misrouted to Sacramento.

For those of you who work for Mortgage Docs you know that is their standard procedure and I love it. You never have to make a call, long distance or otherwise except to the borrower. You can check doc status and it is normally a very straightforward process. Jut get online and check your profile. Simple.

Thank you all again for your input.

Kathryn