Posted by John Schenk on 10/22/09 7:24pm
Msg #308311

Capital Title of TX & Great Western Financial SVCS...

Did a closing for DocPros tonight for the above companies. It was a refi about 140 pages. Finished in 18 minutes. Very clean set of docs. Had the county already in there on almost every one of them. All but about 10 pages were letter size. Really a nice set of docs. I appreciate getting those. Just wanted to give them a kudo.

JJ

Reply by CopperheadVA on 10/22/09 8:37pm
Msg #308320

I'm not trying to be flip, but I just don't understand how

you can do a 140 page loan package in 18 minutes. I honestly don't. How do you do it so fast? Do people just sign and not inquire about each document? Again, not trying to be flip, I'm honestly curious how you do it?

Reply by Jack/AL on 10/22/09 8:50pm
Msg #308322

Re: I'm not trying to be flip, but I just don't understand how

I'm curious, too. While I admit to being anal retentive, detail oriented, etc., I'd expect to use one hour and 20 minutes or so, even for 120 or more pages. My shortest was 25 minutes for about 90 to 100 pages. The borrower was a notary public who (1) had refinanced before, (2) was well briefed by the loan officer, and (3) was in a hurry to get to a social function. I have a lot to learn, and I love to learn. Would really appreciate learning how to do them so quickly.

Reply by Jim/AL on 10/22/09 9:14pm
Msg #308328

How John?? I cannot even turn 140 pages twice in 18 mins.

I prep my docs whenever possible by going through them and filling in any information I know of (state, county, dates, notary expiration etc...) and that I would need to normally fill in at the table and then during the closing I just sign and emboss after brief explanation of docs.

140 pages is usually 35-45 minutes with no or few questions. This includes going through again before I leave to check for errors or omissions.

Reply by John Schenk on 10/22/09 10:05pm
Msg #308345

Re: How John?? I cannot even turn 140 pages twice in 18 mins.

You KNOW where every place to sign, date, notarize is on every page. It take me about 3 minutes to flip the pages to double-check after everything is signed. This one I missed a stamp on the first doc I had to notarize. I concentrate more on what the borrowers are supposed to do the first time around more than what I have to do. My stuff is easy to catch the second time through the docs. The first time through is ALL about THEM. I normally miss something the first time around that I didn't do, but I seldom miss something they didn't do, as I pay attention to their siggies and the clarity of the dates they have to write in, as well as the info they have to fill in.

Had this been a VA refi, it couldn't have been done in this amount of time. The service doc alone usually takes about 5 minutes.

JJ

Reply by Linda_H/FL on 10/22/09 9:30pm
Msg #308336

I don't get it either....

takes me 15-18 minutes to fill in my journal with ID info and fill out Patriot Act forms...unless all you did was tend to the notarizations -

All due respect to the OP but if IMO if you went through that package that quick the borrowers really got shortchanged...

MHO

Reply by John Schenk on 10/22/09 10:30pm
Msg #308349

I must write faster than you do LOL

Don't know how in depth you go with borrowers that just want to get the docs signed, but I am there to get the docs signed, and point out the important part of the docs as we go through them. It's a constant flow of info at my signings, but I never slow down, unless they want me to. Some people just want to get it done, as these folks did. I'm happy to oblige them. They were tickled to death that it went so quickly and that I knew the docs well enough to make it go so fast. They were also impressed that I only missed a stamp, when going back through the docs, and nothing that they had to initial, fill out, or sign. Depends on the borrowers. You give them what they want. If they want a signing as quickly as it can be done, I can give them one, and I can promise you that I won't have to go back to get anything filled in or signed.

As for Patriot Act forms, I mark those with a sticky. Whenever the borrowers come to a doc that takes them a while to fill out, I fill those out in the lull. Also fill out my journal in any lulls. Sometimes can't write in but a section at a time, but if I'm not passing a doc, I'm doing my job while they are doing theirs.

JJ

Reply by John Schenk on 10/22/09 9:55pm
Msg #308344

Re: I'm not trying to be flip, but I just don't understand how

I always fill out everything, other than my siggy and stamp, before I get to the table, so that certainly saves time, and that is above and beyond the 18 minutes so sorry if I mislead you on that. Face time was 18 minutes at the table.

There were no questions at all at the signing table. I gave my little schpeel at the beginning, and passed the docs and they signed. I called off what each doc was with a quick explanation, swore them, double-checked all the docs at the end (I missed stamping the first one LOL), filled in the info in my journal, had them sign my journal, and I was gone.

Yep, it was pretty fast, but I don't make one last any longer if they don't have questions, which they didn't. I would estimate that I couldn't have done a 140 page closing much faster with any other borrowers.

Another thing I do is that if one is a slow signer, I keep BOTH of them signing something pretty much at all times. I figure out quickly which one is faster at filling in the date and filling out info, and whichever is the faster one at doing that, they get the doc first.

They have a form for the notary to fill out after the closing, and I did that at the office. That took about 3 minutes.

Just a real nice closing. Most of my refi closings last no longer than 45 minutes with 2 borrowers. Most are done in 30 minutes. This one was exceptional.

JJ

Reply by John Schenk on 10/22/09 11:14pm
Msg #308366

Your mind has to multi-task from the beginning to end

Every lull in the closing you must be working on filling out your journal, Patriot Act docs, anything that you have to fill in.

ALWAYS, if possible, fill in YOUR state, county, date, print your siggy, whether they give you a line for it or not, Comm expires, everything in your jurat other than your stamp and siggy. Don't waste the borrowers' time watching you fill in your crap. Sometimes you get docs late and can't help it, but normally you can do it ahead of time. There's no kudo to you for making a signing take any longer than it has to take.

Some borrowers want to really go through the docs with you while you are at the signing table, and some don't. It doesn't take long to figure out which way it's going to be, does it? Really? Some want to talk about each doc, which is absolutely fine, and some don't want to talk about the docs at all and just get them signed. With the latter, I'm going to give those borrowers exactly what they want. Have I shortchanged them? No, I don't think so. If they don't want any explanations, and I let them know what they are signing before they sign it, I don't think I have an obligation beyond that. I notarize their sigs, have them swear to what they signed, and I boogie.

Some borrowers don't want you to be anal. They want to get it signed. Why be anal and when they're good to go. They're happier if you just get it done and go along your merry way. KNOW YOUR DOCS! Talk the entire time you sign and point out what needs to be pointed out. Have them fill in the blanks, get their sigs, and leave. I'm not there to make a new friend. I'm there to get the docs signed. That's what I do, and people that want to get their docs signed as quickly as possible will get that from me. If they want to go through each doc, they'll get that from me also. It's up to them how in depth they want to go. They're ALL different. Some just want to get the docs signed as fast as possible, and some want to discuss each and every doc. I just take them as they come.

JJ

Reply by CopperheadVA on 10/23/09 6:39am
Msg #308382

Re: Your mind has to multi-task from the beginning to end

I complete my notary blocks ahead of time too, except for signature and stamp. I prefer to get my journal completely filled out and signed in the beginning because I have found that when I do it piecemeal, I forget to have them sign it. I'm always open to looking at ways I can decrease signing time, so thanks for your post.

I seem to rarely get people who just want to sign and not know about the docs they are signing. Maybe I'm just not reading people very well. I seem to have a lot of packages where there are title docs for people to complete ad nauseam. An example from last night - within 3 pages of questions, there was a place for the B's to fill in the name and mailing address of their HOA. Well, who has that info at their fingertips? Took the wife several minutes to find this. DO other people have the B's fill this stuff out? Or do they just have B's sign and not worry about the blank spaces?

Reply by John Schenk on 10/23/09 9:05am
Msg #308400

Re: Your mind has to multi-task from the beginning to end

There weren't hardly any blanks in this set of docs. No HOA question. All the name variations were in there and they only had to sign the way they were signing the docs. Sometimes they have to write the name variations in and sign them with each variation. Didn't have that. No funds coming back so no voided check or bank information to put in. Names under the line were identical all the way through. The only pause was when he had to go look up the date they bought the house. The only doc they really had to fill any thing in on was the one saying I was married to Bozo when I made out the app and I'm still married to Bozo. LOL Coulda sliced another minute off without that one, but I had the Ms. fill hers out while the Mr. was going to look up the date they bought the house.

Wish they were all like this one, but they're not.

JJ

Reply by JanetK_CA on 10/26/09 1:47am
Msg #308633

Good point about title docs.

"I seem to have a lot of packages where there are title docs for people to complete ad nauseam."

I'm glad I'm not the only one! I've found that sometimes they take as long as the entire lender part of the package, especially if there's a Statement of Information. Lately, I seem to be getting lots of packages where the property is in a trust, too, so there's a Trust Certification form to fill out - which they seldom know how to do. Also, it seems like lots of title companies have a standard pile of affidavits (usually not completed) that they just throw in whether or not they apply. And since we can't notarize an incomplete document, we have to have them fill them in. Most of those are from out of state, so it often means changing the notary certificate. I just love it (NOT) when they have nearly every document notarized - even the disbursement page. I think I counted 14 or 15 different pages in one package where I had to notarize - just in the title docs.

Vent over... I feel so much better now!