Posted by Pamela on 11/3/06 3:32pm
Msg #157124

LIARS!

Agreed to a signing tomorrow for a re-finance. Two signers.
Received payment confirmation. Talked to loan officer. Turns out there will be
four signers (not two). New loan (not re-finance). Also, wants me to pick-up
docs from escrow (across town) and if possible to return them (across town).

Telephoned signing company to adjust fee. Said they would have to get
"an okay". Waiting. . .Called backed 15 minutes later, "lender cancelled"!

LIARS (probably found someone cheaper)!

Pam

Reply by Ndwa on 11/3/06 3:39pm
Msg #157126

Do you charge by the number of signer(s) on a loan? I did one last week and the loan was for a hotel investment firm with 7 signers (investors) when I got there.

Reply by notarybycony on 11/3/06 4:08pm
Msg #157142

this is a routine for most singings I had. I thought this is how its done. Sorry I’m new here and I don’t know if I should’ve charge for more. Generally, I find out when I get the package or when I show up. what should I do, charge them or not?

Reply by Pamela on 11/3/06 6:47pm
Msg #157170

Notarybycony,

On one of the first signings I did (started earlier this year),
the signing company told me that I had a refinance loan signing with one borrower.
This was an end of the month, last minute signing. They promised to have the e-docs
sent to me by 6:00pm (approximately). This was on a Friday evening.

The fee was $65.00.

I telephoned the borrower to confirm a 7:00pm signing. Then an 8:00pm signing.
Then a 9:00pm signing. I called the company repeatedly, and the times kept
changing as the documents were not ready. It was during one of these telephone
calls with the borrower, that I discovered that there would be two borrowers.
(Note: The signing company later on confirmed by phone, the second borrower.
And stated that I would need to make another copy of the loan package
for this person.).

By 10:30 pm the documents were still not ready I was frantic by this time
(I was also dressed and ready to go.). Because of this "madness", I decided
to call a long-time, very experienced notary/signing agent for help. After she
calmed me down, she told me exactly what to do.

First she explained, do not let the companies "run" you. "You run the companies. . .
It's your business." To give a deadline for the documents to arrive. For example, if the
package is due by 5:00pm and the documents have not arrived by 6:30pm.
Then move on. Do not sit and wait for documents which may come hours later
or not at all (by the way, these e-docs were not given to me, until 10:30 am the next day!).

Secondly, charge more for last minute signings. Especially those at the end of the
month. Time is valuable. If a company wants to call one and a half or two hours before
an assignment, that's fine. But let them know that an additional fee is required.

Third, there is an additional signer on board. Additional borrowers take additional
time. This is a judgment call (Depending as to the type of documents and what is
required. For example, a second signer/non-coborrower may only require a few papers to
sign. However, five or six borrowers for a new loan will require signatures on each and
every document.).

Fourth, charge for the extra copying of the package. This second borrower needed a copy
of the loan package;therefore more paper and ink would be required to print it.

This sounded good but I explained that I had already accepted the $65.00 fee
(Fee confirmation had already been sent).

She said because I was new (only one or two prior signings), she suggested that I use the
following guidelines, Baserate: $75.00. E-doc fee: $25.00. Additional package print fee,
$25.00 "last minute" calling and "time waiting" fee $25.00. A total of $150.00.

I "chickened out" and asked for an additional $65.00 (to include the extra printing,
last minute calling, "time waiting", additional signer etc. . .). To my surpise,
the signing company said Yes!

I learned a great deal during this conversation with her.

Which is why, not only do I inquire as to the type of loan and number of signers
before accepting a job, I let them know my expectations as to when documents
are to be received. For instant, I let them know that if 2:00 pm documents have
not been received by 3:00 pm. they will need to find someone else.

In this way, I will not "tie-up" the afternoon, waiting on documents from one company
(and possibly lose out on other jobs, while still waiting on these papers).

Hope this helps.

Pam

Reply by Pamela on 11/3/06 4:30pm
Msg #157146

Ndwa, Re: LIARS!

When a company contacts me, I ask all
the questions upfront, so that there will
be no suprises later. I may (or may not)
increase my fee depending as to what is involved.

For instance, I was told that there will be
two borrowers. Now it is four borrowers. Four
borrowers will take additional time to complete
a new loan package.

However, if it was two borrowers and one additional signer
(non-borrower), on a re-finance, I probably would not have
increased the fee, as the third signer would be signing only
a few documents.

I want a company to be honest with me at the beginning,
so that we all can be happy. Either they accept my fee
or they do not. I dislike it when a fee is set, only to discover additional
signers, as in this case and/or other "hidden" tasks (as in "playing courier".

So yes, Overall, I base my fees on the numbers of signers,
and type of documents.


Pam

Reply by Ndwa on 11/3/06 6:24pm
Msg #157166

Re: Ndwa, Re: LIARS!

I think you were a bit quick to call someones "LIARS" base on that fact that, often times, SS/TC don't know how many signers there are on a loan. The primary BO or just a lastname is usually the subject of any communication in the process. I hope you're having great success with your business. I think any scheduler will remember to pass your no surprises drill after the first time.

I know I will from this post.

Reply by Pamela on 11/3/06 6:54pm
Msg #157171

Re: Ndwa, Re: LIARS!

I called them liars because they said that
the lender cancelled. Which is not true.
Also, I specifically asked how many signers
and was assured that there was only two
(no more no less).

By the way, one of the borrowers telephoned
me later, to ask about the appointment. I told
this person to contact his loan officer,
as I was told the loan had been cancelled.
This was news to him!

I've worked with this company several times before
(though not the same scheduler).

And saying that a "lender cancelled" is one
of the oldest excuses in the book!

Pamela

Reply by AngelinaAZ on 11/3/06 8:38pm
Msg #157188

It's all a conspiracy!!!

Maybe they decided it was more than you could handle and just sent the borrowers to the Title Company. Remember Pam... a signer can KILL a loan stone cold dead and your attitude probably scares people away. The nitpicky 'everything has to be just so or I'm not happy' will convey easily to a borrower... or four.

Reply by Charles_Ca on 11/3/06 9:55pm
Msg #157207

You know Angelina, we just don't talk anymore, what's

up with that? I've always liked the name Angelina. One of my favorite songs is Louis Prima's "Angelina" but I am sure that you are much too young to remember Louis Prima! Let me pull a Doc here: lets bring up some hot New Orleans jazz with Sam Butera and the Witnesses ~ "I eat antipasto twice, just because she is so nice, Angelina, waitress at the pizzaria! I eat suppe and minestrone just to be alone with Angelina....."!

Reply by AngelinaAZ on 11/3/06 11:07pm
Msg #157221

That's it Charles....

***I eat antipasto twice, just because she is so nice, Angelina***

Now I REALLY know that song isn't about me (at least the 'so nice' part!) I haven't been around much... but I have missed *almost* everyone on Notary Rotary.

To be honest... I keep reading stuff and cringing. There's a whole bunch of 'wet behind the ears' SA's around lately who are dishing out advice and they seem to have just enough information to be dangerous. I read some of the long winded b*llsh*t and think to myself... 'Are you freakin' kidding me?' I just don't get people sometimes.

I hope you are doing well Charles... and I hope that business in your area is very very good!

Reply by Charles_Ca on 11/3/06 11:30pm
Msg #157226

Re: That's it Charles....Thanks Angelina! n/m

Reply by Charles_Ca on 11/3/06 11:44pm
Msg #157230

Okay, so Antipasto isn't a big deal, I can live with that! n/m

Reply by AngelinaAZ on 11/3/06 8:40pm
Msg #157189

Andy...

***I think any scheduler will remember to pass your no surprises drill after the first time.***

I was thinking the same thing. Can you say "Run... don't walk... to the next closer on the list!"

Reply by CaliNotary on 11/3/06 11:43pm
Msg #157228

Re: Andy...

You two weren't the only ones thinking it. It never ceases to amaze me when I see people blatantly sabatoging their own businesses like this.

I can understand charging more to pick up and/or drop off docs, but the rest of it is just stuff you deal with. Having 4 signers instead of two is going to take what, 10 or 15 minutes longer to sign? If even that? And maybe I've just been lucky, but I've never had a purchase signing take any longer than a typical refi.

Just another case of a signing agent who is unable to look at the bigger picture of her business because she's too busy obsessing over the minutiae of each individual signing.

Reply by Mark OSS on 5/4/07 5:45pm
Msg #188860

Re: Ndwa, Re: LIARS!

Hi,

Just wanted to give a little info. Unfortunately, the signing service in my company is not always made aware of the quantity of signors on any given loan. Orders are placed with a single name as "borrower." We are to proceed with the belief there would be two at most. Very often we do not learn there are more signors until the notary receives docs and contacts us. Same thing with multiple or piggyback loans. 9 times out of 10, all we have is what you see on our confirmations. Please do not be bashful about calling us to inform us of any increases in your workload you should encounter. You'll likely find we were not informed either...

Reply by Mung/CA on 11/3/06 4:01pm
Msg #157136

At least they called U back. n/m

Reply by Pamela on 11/3/06 4:09pm
Msg #157143

Mung Re:

Correction!

I had to call them!

Sorry, that I didn't post it correctly (the first time).

Still venting. . .

Pam

Reply by kathy/ca on 11/3/06 6:16pm
Msg #157165

I do not charge by # if signer's. Some take longer some go

quick, it all evens out in the end. However, I do charge extra for a Purchase/Sale than I do a refi. With no RTC, it is definetly more time consuming.

Reply by Jason on 11/3/06 6:41pm
Msg #157167

LA Oss just pulled a sox on me

I declined signing. Fee too low. They sent docs anyway.

I sent back email "refused."

They sent me MANY emails back trying to bully me into it. Threatened to take me off their database.
I replied Hurray!

Heck w/ em!