Posted by CaliNotary on 1/14/09 7:11pm
Msg #274492

Yes, I am a hypocrite

Not too long ago there was a thread about charging extra for oversized loan packages. I said that I wouldn't do that, since some packages were bigger than others and it all balanced out in the end.

Well I now need to add a "usually" to that statement. I just found a 262 page package waiting for me when I got home. I figured that HAD to include borrower's copies, but nope, it's just the single loan.

Since that is the equivalent of signing 2 loans, I called the hiring entity and told them that I would have to charge as if it were a first and a second. Honestly, I was kind of hoping they'd just say forget it, but they called the lender and got the fee increase approved. So I'm stuck with it.

And I'm running late because of it. The file size is so big my printer can barely handle it, it took about an 8 minute break in the middle of printing just to get everything caught up on the spooling end.

Reply by Lee/AR on 1/14/09 9:28pm
Msg #274504

Nah! You just hit the breaking point.

These are the 'little details' that they really ought to let you know immediately because they really do matter.

Reply by jba/fl on 1/14/09 9:49pm
Msg #274506

Re: Nah! You just hit the breaking point.

And usually the scheduler is not aware of the size of the package. Once they are aware, they are usually more than happy to adjust the fee accordingly when you call to kvetch. Not JME either.

Reply by Glenn Strickler on 1/14/09 11:15pm
Msg #274512

Been there, done that ...... n/m

Reply by Susan Fischer on 1/15/09 12:50am
Msg #274518

And so many duplicates. How many ways can you say

"I live here?" Four? Five?

What? Only seven Apps?

sheesh...amateurs...

Reply by CaliNotary on 1/15/09 2:40am
Msg #274521

It never even got that far

The whole thing just ended up being a nightmare, right up to the point where it ended up being a no sign.

After taking forever to print the first set I decided to be smart on the second set of docs and split the printing in 2 parts. The first half printed no problem and I waited until it was done to send the second half to the printer. Which then spit out about 15 pages before it slowed to a crawl, just like it did on the first set. So obviously it was something about the way the docs were scanned. Total printing time, just a smidge under an hour.

Get to the signing and it turns out that it's a mother and son. The mother is 77 years old and can barely walk even with the aid of a walker. The son looks at the 262 page stack of documents and says "she's never going to be able to sign all that!". So we did a test, took her about 45 seconds to sign her name and she spread it across 2 signature lines.

A few phone calls to the LO, who called the TC, ended up with the option of either trying to get her to sign with basically initials with a little squiggly line after them to pass as a signature, or to have her sign half the docs tonight and come back tomorrow to finish. One attempt at the initial signature option made it clear that THAT wasn't going to work; she really didn't even understand what we were trying to have her do.

She leaves the living room, I think she's going to the bathroom or something, but she doesn't come back. I tell the son that we need her back if she was going to sign. Turns out he told her that she could go to bed (it's 7:30) because he thought that the LO meant that he sign his half tonight and she sign her half tomorrow. I'm trying to explain that the whole point of splitting the signing was because she wouldn't be able to do it all in one sitting, he doesn't seem to understand it at all. At which point I officially give up. But lord knows, I gave it the old college try.

So the end result is me being there an hour, during which time I got exactly 2 signatures from her. Called the LO, told him I had another appointment (which was true, I had dinner plans for 8) and needed to go, he talks to the borrower and apparently the plan is to have someone come tomorrow at 11 to sign the mom, and come back at 4:30 to sign the son. Why exactly they think that pushing it back until tomorrow is going to miraculously make this poor woman able to sign a 262 page loan package is beyond me, but I don't really care because it ain't gonna be me going. Luckily I already had a 1 pm appointment scheduled, so I was able to use that as an excuse rather than just saying "HELL NO". If this woman even is able to get through the package and sign everything (which I can't imagine is even possible), it would probably take 3 hours to get it done. I ain't going anywhere near it again.

Reply by Susan Fischer on 1/15/09 3:18am
Msg #274522

Nominated for Best Notary Story so far for 2009. Holey

Moley.

200 + page packages are a Big Red Flag that this lender has gathered every Final Loan Document ever created, and decided to cover all bases - what the 'ell, use 'em all!... Newbies. way-around might have been the daughter as POA, given Mother's infirmity.

BTW, just heard that some old baddies are popping up again, selling the same subprime products ever-hurting borrowers - promising the moon. Great. Just great.

Reply by JanetK_CA on 1/16/09 2:59am
Msg #274625

Re: Nominated for Best Notary Story so far for 2009. Holey

<<BTW, just heard that some old baddies are popping up again, selling the same subprime products ever-hurting borrowers - promising the moon. Great. Just great.>>

Yeah, I read something about that a while back, too. Just like some ss, changing the names and do the same-old, same-old... Makes me sick to my stomach!

Reply by parkerc/ME on 1/15/09 6:47am
Msg #274528

Re: It never even got that far

"...she really didn't even understand what we were trying to have her do. "

Sounds like maybe another issue here might be, was she even mentally competent to sign?

Reply by CaliNotary on 1/15/09 11:39am
Msg #274542

Re: It never even got that far

"was she even mentally competent to sign?"

Honestly, I didn't even try to determine that. The physical problems were such an obvious problem there was really no need for me to even go down that road.

Reply by 101livescan on 1/15/09 8:04am
Msg #274532

Re: It never even got that far

Clearly, mom needs to be OFF THE TITLE and the son having total signing authority, or a POA...I had a 95 year old lady, same thing, RM, husband in better condition than she was, long overdue for POA or removing her from signing responsibility, too frail.

We can't screen enough, can we....who is the lender, how many pages,...with a broker involved there are always duplicated sections of documents for new owner of paper, broker and the existing lender...then the disclosures they didn't get after the LO locked the loan is usually present and these need to be in duplicate predated to be in compliance.

What a nightmare...with lots of elderly in Santa Barbara still having signing capacity, I run into this more than I like to. Thank God, I'm doing mostly REO purchase loans and fewer refi's.