Posted by Leon_CO on 4/10/08 8:36am
Msg #242989
Notary Signing Agent tip: getting information
When Ethan Hunt gets a call to do an assignment, he is given a lot of information. It may start with a simple phone call, in much the same way that we are contacted. But there will be much more information to follow.
He'll get an initial briefing, followed by a more detailed message, usually in the form of a video.
Even with all of this information, he still doesn't know what he's getting himself into. It's similar to being a notary signing agent. We often don't know what we're getting into when we accept a closing assignment. Only we don't receive anywhere near as much information as he does.
I don't always have time to speak with signing agents when they call me, or to answer all of the emails that I receive. But there is a way of disseminating information to a lot of people all at once: this blog. And one of the most important bits of advice that I want to share with you is this:
Get as much information as possible
When you are called to do a closing assignment, learn as much as you can from the caller. What type of loan is it? How will the documents be delivered (i.e. edocs, overnight, ...)? Are there any documents that need to be faxed back? How many? Etc.
The reason why this is important is because, the person who is calling you may not reveal all of this information to you. This is not to say that they are dishonest, or have something to hide. It's just that, a lot of times they are so concerned with finding a notary signing agent to fill the assignment, they don't think of giving you all of the information you may need to know. And they want to keep the conversation as short as possible. So it's up to you to find out as much as you can.
For one thing, this will determine your fee. But more important, it will determine whether or not you want to 'accept the mission'. The company may want you to do something that is against your policy (You do have policies, don't you?). They may not tell you that the assignment was given to another signing agent, and that there were some serious issues. They may not tell you that the borrower is signing with a Power of Attorney, or that there is a non-borrowing spouse.
This isn't to say that you have to put the scheduler through a lengthy interrogation. But you do want to ask the right questions from the start. It's a good idea to have some sort of script prepared.
You also want to be leery when the caller tells you how "simple" the assignment will be. For example, I got a call yesterday to do an assignment -- 'only 2 or 3 pages' What type of assignment is it? It's a loan modifcation. So always ask.
I used to work with a company that would say very little about the assignment. They would just call and say, 'We have a closing in Colorado Springs. Do you want to do it?' I had to always ask several questions to find out what was involved.
Sometimes the documents are overnighted to the notary signing agent. You will want to know which carrier it will be. How will they be sent (i.e. Priority Overnight)? On what day? Get a tracking number so you can track the package yourself.
Don't stop with the scheduler. Get as much information as you can from the borrower. Many times it was during the confirmation call that I learned that the borrower was signing with a Power of Attorney, or that it was a split signing. You may gather some vital information from the borrower that will necessitate calling the signing company. For example, I once got a call to do a closing for a husband and wife. When I made the confirmation call, the husband told me his wife was out of town. So you either have a split signing, or a closing that has to be rescheduled.
This is really just the tip of the iceberg. But the bottom line is that, you want to learn as much as you can. That 'simple refi' may not be so simple after all.
Getting as much information as possible will keep your assignment from going up in smoke.
Good luck.
------------------------------------------------
(Forgive that the graphics are not included. This is a reprint from a blog post, and I don't know how to add graphics to these posts.)
|
