Posted by SharonMN on 5/2/08 12:06pm
Msg #245931

E-signings - at the LIBRARY?

Got a message from Professional Settlements asking if I was equipped to do e-signings. Here's an excerpt:

If we do not have closers available with laptops and Wi-Fi/wireless internet service, we will hopefully be able to either utilize the borrower’s home computer OR utilize a computer at a public location (such as a library).

Can you imagine doing an e-signing at a public library? I could maybe see using a meeting room at a public library if borrower is OK with that, but if I were the borrower and the best my lender could come up with for a closing was for me to go to the library and sit at a computer for an hour with my financial information visible on the screen to anybody that walked by, I'd find another lender.

Reply by sue_pa on 5/2/08 12:52pm
Msg #245935

I replied to them several months ago about what a STUPID idea this is.

1. Who's to even say there is a computer available. Are we to sit and patiently wait whatever amount of time it takes for a computer to open up? Do we get to call from the field every 15 minutes having our fee upped for wait time?

2. At a library close to me, they have the computers inside these teeny little desk type cubicles w/dividers from desk height up about 3 feet - there is no way 2, let alone 3 people can squish into that space.

3. I've got no idea but I'm guessing the public computers have time limits on them if others are waiting (see #1 above). What if you're 3/4 of the way through and the librarian tells you time's up?

4. What Sharon said.

Reply by sue_pa on 5/2/08 12:58pm
Msg #245937

forgot

5. No talking in the library !!!

Reply by Kevin/Ct on 5/2/08 1:01pm
Msg #245938

Esignings at the local library would be a waste of time in this area. The library closes at 5:00 PM. Also the use of the library computers is limited to 15 minutes by advance reservation.

Reply by BobbiCT on 5/2/08 1:29pm
Msg #245953

Kevin - even funnier ...

Our two libraries have a shorter limited time, print on the back of re-used paper, and are in a VERY PUBLIC area with the Librarians required/allowed to view/access anyone on the PUBLIC computer is using at any time. Even funnier, the number of gabby, keep-no-secrets high school and middle school students who will be standing around the computer waiting their turn while the borrowers read and discuss their now-very-public mortgage loan. Of course, time limits are not by advance reservations - you're allowed five minutes, get to the back of the line, and return after everyone in front of you has his/her five minutes.

My husband is on a Library Board. The computer is NOT secure and very old.

Reply by Linda_H/FL on 5/2/08 1:03pm
Msg #245940

Sure would cut down on the anger factor, right?

Can't yell in a library...but imagine you now have an extra person there - the librarian going "Shhh...Shhh...Shhhh..."...ugh...

Reply by Gerry_VT on 5/2/08 1:11pm
Msg #245945

Borrower should have computer

Ordinarily, I would think that a person who is asked to do an e-sigining, but has no computer, is being ripped off. How is a person who lacks experience with computers supposed to make a fair judgement about whether it is the right process for him/her. He/she cannot take advantage of any of the potential benefits of an e-sigining, like having more time to review the documents in advance, or using electronic searches for key words. He/she will be left with a pile of paper documents, and not be any better off than with an all-paper closing.

The only possible good reason I could imagine for a person to choose e-signing, yet not have a computer, is because the person just moved and their computer is not set up on the day of the closing.

Reply by MonicaFL on 5/2/08 8:25pm
Msg #245999

Re: Borrower should have computer

Believe it or not, the last three closings I did the borrowers did not own or want a computer.

Reply by Gerry_VT on 5/2/08 8:45pm
Msg #246002

Re: Borrower should have computer

As a notary, I have a duty to insure the signer has a general understanding of the consequences of the transaction. In my mind, an e-signing where the signer is not familiar with computers raises the question of whether the signer can have the necessary general understanding. I'm not saying I would always conclude the signer doesn't understand, but I it would raise a red flag.

Reply by JK/TX on 5/2/08 8:50pm
Msg #246006

Re: Borrower should have computer

And will the borrower get the docs the day before signing, 1/2 hr before signing or 2 hrs. past signing time? What docs will change requiring add'l docs to be emailed....

I can maybe see a seasoned borrower doing an esigning. But a second time borrower (or first).... this will be interesting .... ugh. For the most part, what I have seen from edocs over the last 8 yrs. (in general) is the abuse of the convenience, resulting in receiving the docs later and later....

and the library............. geeeeze