Posted by Michele Cogburn on 5/4/06 10:50am
Msg #117708

New

I did my first signing yesterday and of course I had an elderly German woman with a strong accent. Nice enough but was very confused about what she was doing and had a multitude of questions as to how much the company was making, why there were so many pages to the package. There were three packets each of which were 22, 49 and 59 pages. One of the packets had several duplicates. Much of the paperwork is small enough as it is then the fine print made her very nervous.

She wanted to call the company for each page. Of course, I was not at liberty to try to explain. I told her that we would write down all the questions and upon completion we would call the company with a completed list of questions. She insisted on each call for each page. The company basically stopped taking the calls and did not return the calls.

I know that I was nervous to begin with but this made it uncomfortable. What can be done to ensure this is not done again.

Reply by Charm_AL on 5/4/06 10:56am
Msg #117709

Congrats on your first sign and sorry it was difficult. There are a few of those here and there, however most are not like that. Just chalk it up to a difficult borrower that was not educated properly on what she was doing and the next one should be better. There's nothing you can do about the size of the pkg. I usually don't get asked about it and you did the right thing by not giving advice.

Reply by LauriecPA on 5/4/06 11:39am
Msg #117714

I wish I knew the secret to moving people along...I have been a NSA for 3 years and I still have closing like that, unfortunately. One of them was just yesterday. It was a puchase, 1st and 2nd and the woman read every word and called the Title co. about 11 times. I started at 9am and finished at 12:45 PM. (a record!) With refi's I try my best to let the BO's know I have another appt. to get to (even if I don't!) and they have 3 business days to read over the docs and they have the option to cancel. (Unfortunaely, with a purchase, she didn't have that option and I was stuck...dozing at the table...)

Reply by Michele Cogburn on 5/4/06 12:11pm
Msg #117732

That is good to know that this was not just because I was new and didn't know what was expected.

This was a reverse mortgage.

thank you both for your input

Reply by LauriecPA on 5/4/06 12:19pm
Msg #117735

Michele, I haven't had a reverse that was less than 2 hours yet. I have another one tomorrow and I'm dreading it! I have only done 4 so far. One was like yours, there was a father and son and Dad hardly spoke any English. That one was 2 hours and 15 min. , but it seemed longer b/c the house smelled so bad! lol

Reply by Michele Cogburn on 5/4/06 12:37pm
Msg #117744

Ok then, now I don't feel so bad.

I got there yesterday at 2:00 and waited for 30 minutes while she returned form shopping and left after 5:00PM.

Reply by PAW on 5/4/06 12:40pm
Msg #117745

I've probably done about 50 or so Reverse Mortgages. Most of them take about one and half hours, some less, but only one that has taken more than 2 hours to complete. Not sure why yours are taking so long to complete, as the signers should be pretty well informed as the terms and conditions.

Reply by MichiganAl on 5/4/06 1:45pm
Msg #117776

Sounds like your first one was about as tough as it gets. So down hill from here. Packages won't always be that thick, borrowers won't always be that much of a pain. But I can tell you one thing. Borrowers can sense how comfortable and confident you are in presenting the docs. If you're unsure, they're going to be unsure. When I start a signing, my attitude with them is that this is going to be a piece of cake and I'm going to go through everything with them. My confidence breeds their confidence, which makes the process flow smoothly 99% of the time. This will come as you get more signings under your belt. Continue to study the docs, learn them, understand them, practice what you want to say for each one. When you're confident, you'll be the one controlling the signing, not them.