Posted by davidK/CA on 9/27/08 8:00pm
Msg #265596

e-signing - is it a total joke?

Yesterday I was asked if I would do an e-signing. Because I have a great working relationship with this particular SS and know that they will stand behind me I agreed to accept the assignment. What a mistake!

Since the SS knew from the get-go that this particular e-signing software had lots of problems in the past the SS and the lender and I all worked together the day before the signing to iron out the wrinkles, We tried logging in with various Id's and passwords, accessing the e-docs, etc from various computers and finally after a good deal of struggles seemed to have the system under control. NOT!

At the borrowers house the software wouldn't work worth a damn.

The borrower's connection to the internet was solid and fast, and his computer was new and working just fine, but the program wouldn't allow us to "accept" the documents so we had to resort to signing the paper documents i had brought along.

During our struggles with the software the broker called to insist that I abandon the almost completed paper signing and restart the same process all over again on the computer that had already failed to work several times. His reasoning? The BORROWER was going to be penalized $250 for failure to complete an e-signing even though it was the title company's fault that their software was IMHO cr*p and just didn't work when it was supposed to.

There were 105 pages of documents in a complete set. The borrowers were to receive copies of 65 pages, which means that only 40 pages were intended to be signed electronically. What a waste of energy and time to save 40 pieces of paper.

A maybe 45 minute signing became a two-hour adventure in frustration. Just my opinion of course, but I think e-signing is a failure.

Reply by Lee/AR on 9/27/08 8:11pm
Msg #265598

The more I hear about e-signing...

the less likely I am to have any interest in doing it. LO was half right...somebody gets penalized $250, but it's the LO, not the B. Seems to me the the much-hyped idea of 'convenience to B with in-home signing' has gotten warped into convenience for the Lender....period. So much for customer service~~

Reply by Glenn Strickler on 9/27/08 8:27pm
Msg #265599

You need to use your own equipment.

If you are going to do e-signings, you need to use your own laptop computer. You can plug into their connection using a CAT 5, your own card from att, verizon or other, or their wireless, but use your own equipment. You don't know what the BO's computer, new or not, has on it that would conflict with the document program. There are a lot of computers that have factory loaded anti-virus, firewall, and other garbage that won't let you communicate with the lender without adjusting settings. Presumably, you would already have any of those issues worked out.

There are a lot of bugs to work out, but I think that it will keep growing until we will need to learn and become proficient at the process in order to keep the money coming in.

Reply by Maureen_nh on 9/27/08 10:22pm
Msg #265602

Re: You need to use your own equipment.

Glenn, it sounds as if you are either very conversant with the process or have been lucky enough to have hooked up with a company that is.

From what I have been reading, I hope it is a long time before this is allowed here. By then maybe the bugs will have been worked out.

Reply by Glenn Strickler on 9/27/08 10:50pm
Msg #265606

Re: You need to use your own equipment.

Well, I don't know how conversant I am with the process. I have done a few and did not have any problems other connectivity in some of the areas I service, however it's more work for the signing agent.

My computer comment was based on 40 years of working with computers both at work and home. You have to have a clean, updated computer you are fully familiar with. Using someone else's machine that you are not familiar with, even if it is exactly the same as yours on the surface, is inviting trouble. There is a reason that most corporations do not allow it's employees to have administrative access to the computer systems or allow them to do personal work on them. You need to maintain the integrity of the system. Your personal computers you use for your notary work need to be treated the same. Have a separate computer for you business, then a family computer that everyone would use for school, games or surfing the internet. Mixing business and play time on the same computer is trouble unless you are an expert at keeping it clean, no matter what operating system you are using.

Reply by Leon_CO on 9/28/08 5:01am
Msg #265613

Re: You need to use your own equipment.

** If you are going to do e-signings, you need to use your own laptop computer. **
___________________________________________________________________
I agree. You don't know for sure what versions of software the borrowers are using and if their hardware is sufficient.

Before doing an eSigning I delete any temporary files, run anti-virus software, and do a registry scan. Take care of any issues that can slow down your computer, or that will keep it from accessing the eSign website.

I also log in to the eSign website to make sure that I can get on with no problems. I bookmark the site on my computer. You can also place a shortcut on your desktop.

Another reason for doing this prior to the closing is because you want to make sure that the dates on the electronic documents are correct. Especially on the Right to Cancel. If it is wrong, you can't change it. It will have to be changed by the Closing Coordinator. So check everything in the electronic documents before going to the closing.

Good luck.

P.S. ESign is not perfect. It's still far from being an ideal closing solution. It's up to us to make it work as well as possible. Don't throw in the towel.

Reply by MistarellaFL on 9/28/08 9:04am
Msg #265620

Re: You need to use your own equipment.

FWIW, I have done a few of these myself. My laptop is always available as a backup, however, we have always used the brw's computer.
At the completion, I have saved docs to the brw's computer for their viewing convenience, at their request.
Mine have only been through AmTrust.

Reply by Lee/AR on 9/28/08 2:01pm
Msg #265640

Gee... am I missing something here?

One of the marvelous reasons given to a B about the convenience of e-signing is that 'if there is an error, it can be corrected on the spot'. But, you say that's not the case. You are a far mor patient person than I.

Reply by MichiganAl on 9/28/08 1:36pm
Msg #265635

Yes, they're a total joke. Charge accordingly.

I don't charge my standard refi fee for these. I charge what I would charge for a full purchase with buyers and sellers. No matter how prepared you are, there's just no way to get these done in a reasonable amount of time.

Reply by Prosperity on 9/28/08 2:25pm
Msg #265642

I've done several of these. I must admit that I was very nervous about this career when I first heard about it. After doing a few, I'm confident that my services (as they are) will be needed way in the future. I don't think it was worth the investment.

Reply by Brasring_Ca on 9/29/08 12:18am
Msg #265661

I have now completed 21 of these E-signings and I have had problems and I have had them go smoothly. There are many variable factors that can occur. I always use my own laptop and ask the borrower's when I am confirming the appointment if they too have internet connection as a "just in case". I have had them take 1 hour or half an hour. Once you get the hang of it and learn a system of how to get set up with what first, like getting the computer out and logged on, then having the ID's recorded in the journal while having the borrower's fill out the Statement of Info. (if one is included) and so or start them on the electronic docs. This seems to work well for me and I do not take less than at least xxx.xx for them be it from a signing service or directly from the title company. I think that they will only improve on them in the future. I have had title companies tell me not to bother with printing the back up docs because of the 250.00 charge back to the lender if it does not sign by E-sign, as they would rather re-schedule to make the e-sign possible than take the 250.00 hit. I have only had to resort to paper back up docs one time and it was instructed by the title company to proceed that way. Just giving my experiences on the topic. I have no problem doing them and will continue. Jenifer

Reply by RalphNC on 9/30/08 10:38am
Msg #265833

The problem here in the mountains of Western North Carolina is that many of the places I do signings ("we go places you don't even know are places" do not have fast Internet OR cell phone service. No way to do it.