Posted by Marian_in_CA on 1/28/10 7:42pm
Msg #320082
Something in the water?
So... this is the second time in a week that we've had something major happen with a signing service that, I would say, is somewhat epic meltdown to the point of damaging reputation of the service.
What's happening here?
Are we, as notaries, finally putting our feet down? I would hope that's true. But I'm not sure.
| Reply by SOCAL/CA on 1/28/10 7:56pm
Msg #320089
Everthing done in the dark will come to light sooner or later. Examples; entertainers, sport stars, politicians and signing services.
| Reply by Jim Habicht on 1/28/10 7:57pm
Msg #320091
Some people want to make friends; I just want to make money. Screw the Signing Service, I'm turning down any request from any signing service and will target marketing directly to the title company directly. United and we all will get more calls from the title company directly. You will be more in control and the title company will appreciate working directly with the Agent vs. going through the SS. The bottom line will improve too....you'll make more money. 
| Reply by CaliNotary on 1/29/10 11:32am
Msg #320203
"The bottom line will improve too....you'll make more money"
Why do people seem to think the only thing that's holding us all back from working only for title companies is because we're wasting our time working for signing services? If I adopted a TC only policy, I might make more money per signing, but I'd also lose a large percentage of the business that I have, and the net loss in my income would be substantial.
I've been doing this for 7 years, have done plenty of direct work for title companies, and yet most of them aren't calling me with 5 - 10 signings per week like some signing services do.
I'd rather have smaller pieces of several pies than larger pieces of one or two pies. Principle doesn't pay my rent.
| Reply by John_NorCal on 1/29/10 11:40am
Msg #320205
Agree....
Too many times people will cut off their nose to spite their face. The key is to work with reputable services. There is a value to a reputable service, it's kind of like hiring a marketing company to put your name out there. Having a marketing arm that is going out and aggressively seeking new accounts has great value as opposed to one person going out and trying to line up their own accounts. I can also see this from the point of view of the title company, they make one call, place the order and they go on to other things.
So let's not throw the baby out with the bath water, work smarter not harder!
| Reply by Cari on 1/28/10 8:01pm
Msg #320092
what was the first...what did I miss? n/m
| Reply by Marian_in_CA on 1/28/10 8:04pm
Msg #320094
Fairfax, last Friday. n/m
| Reply by Notarysigner on 1/28/10 9:13pm
Msg #320105
I would not object to us all agreeing to a Three hour drop dead policy. Most of my borrowers are so angry with the lack of contact, return calls, information, disclosures that it would be nice to say, "It's not my fault but I'm going to help you"! Three hours is enought time to allow us to figure it out. IMO
| Reply by Linda_H/FL on 1/28/10 9:17pm
Msg #320107
Mine is 2-3 hours...
And for the most part I stick to it...if I have the flexibility to extend the time, fine, I will - but I do have my limits - I've had some who promised me docs at 4:00, then 5:00 then 6:00 and at 7:45 still no docs - with travel an hour away the assignment was turned back. That's happened maybe 3 times. And I, like others, won't jeopardize the appointments I have who DO have it all together for the one company that can't find the A** from the elbow.
| Reply by Linda_H/FL on 1/28/10 9:17pm
Msg #320108
Mine is 2-3 hours...
And for the most part I stick to it...if I have the flexibility to extend the time, fine, I will - but I do have my limits - I've had some who promised me docs at 4:00, then 5:00 then 6:00 and at 7:45 still no docs - with travel an hour away the assignment was turned back. That's happened maybe 3 times. And I, like others, won't jeopardize the appointments I have who DO have it all together for the one company that can't find the A** from the elbow.
| Reply by Linda_H/FL on 1/28/10 9:17pm
Msg #320109
Twice, just in case you might think I was kidding..:) n/m
| Reply by John Schenk on 1/28/10 9:52pm
Msg #320122
Wanna go for 3? LOL n/m
| Reply by Linda_H/FL on 1/28/10 9:54pm
Msg #320123
Nah...I think I made my point...:) n/m
| Reply by Les_CO on 1/28/10 11:42pm
Msg #320142
Why not just only take Overnight docs? Save all those last minute problems, to say nothing of printing costs. Oh, and Title Companies ONLY if you please.
If you think its maddening waiting for one set of last minute, late docs, try waiting for 35, knowing that you will have to reschedule a third of them.
What is it that they say, try walking a mile in the other guys’ shoes.
Or as Jim says “Screw the SS”
Personally I’d love to have a 3 hour drop dead time. But When I get a call from a someone I like, I know the drill, and I try and accommodate them if I possibly can. (If I get a call from someone I don’t like or trust I simply pass.)
| Reply by Moneyman/TX on 1/29/10 1:02am
Msg #320147
I have a 2 hr drop dead time. If a loan is scheduled 2 days in advance, it really comes down to one of two things. Either lazy workers from lender or title or bad loan officers trying to hit their goals with bad loans (from a former loan officer’s viewpoint). There is no excuse for a loan to be scheduled 2 days in advance and then have to wait 2 hours after the appointment to receive docs.
The claim of "It's the EOM so you should work with me." doesn't hold any water with me. BECAUSE it's the EOM I have more on my books than I do on the 3rd of the month. The other companies and borrowers do not deserve to have their scheduled appointments changed when they got docs out in time. How upset would these companies be if it was their loans and their customers being put off because of late docs on another loan? I don't think they would appreciate it very much and would probably give me a black mark for doing so. It's a professional and a respect issue. Not to mention, it makes me look bad to the borrowers.
I have offered companies that cannot get docs in on time to reschedule their appointment after I finish all other appointments, if I have time. If it works out, it works out. A few years ago, I had two ss companies that were constantly late with docs. I just flat refused one and the other I started quoting double my fee for signings (taking up 2 apt times = double the fee). Can’t imagine why they finally stopped calling. hehe
| Reply by Les_CO on 1/29/10 11:09am
Msg #320193
Re: Chris
I pretty much agree with everything you posted.
May I say I don’t double book. I try and never take more than three remote closings a day, and never less than two hours apart. Just my way, it’s not a recommendation to make money.
Much of the problem with this business is that it’s cyclic. The Title Company closers/escrow officers think they are understaffed; the accountants think they are overstaffed. The first of the month: little to do: EOM frantic, staying late. I know one Title company that the closers regularly stay past 8 PM, and some that go home but access their files and from home and work past 10PM on EOM. Most of this EOM rush is a direct result in the way the LO’s and Lenders do business. (I’m not talking about FHA stuff) Unfortunately the best (production) LO’s are often the worst (most ethically challenged). Come EOM they throw everything they can get against the wall so see it some of it will stick (to meet their production, get their spiff, etc.) Not to mention that giving the borrower a month break in their payments is a selling point, even though there is no real difference in costs.
I was hoping that the ‘new regs’, would change this late doc situation, but it would seem that many Lenders, and Title Companies are still struggling with these. Some lenders do not send the ‘final’ complete docs, until they get HUD approval. So if the borrower does happen to get the HUD, TIL etc. in advance, AND they are correct, the lender still waits to send the final docs to Title until they get approval……..So we still get the final package the day of signing.
It’s still a slow market out there, and these struggling Title Companies, are not about to turn away hard to get business, even if the Lender is a royal PITA.
This is a service business selling a perishable product.
To keep our customers in today’s market we need understanding, flexibility, patience, knowledge, skill, attention to detail, and the temperate of a mollusk. JMO
| Reply by Moneyman/TX on 1/30/10 8:35pm
Msg #320402
Thanks Les n/m
| Reply by Les_CO on 1/31/10 11:20am
Msg #320428
Re:You're welcome
By the way I meant to say: “The temperament of a mollusk” Sorry can’t spell.
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