Posted by pjc on 1/13/10 8:07pm
Msg #317898

companies that aren't being forthright

with the depth and breadth of the assignment. Just did a Reverse signing. SS assured me that since it was a POA (and not the senior citizen) it would go quickly. Well not only was it a POA but also a Trust. And, get this, the signer and her elderly mother, had almost (the critical part is "almost" the exact same name. Sometimes she had to sign as POA and sometimes she had to sign as Successor of Trust. And, grrrr, the Title company did not always have the signature line filled in, or sometimes it was filled in incorrectly (because of the name confusion).
You know, I always try to ask the SS about the assignment, but there was more here than I could have known to ask. Considering the # of pages to print, and the time (well over 2 hours) I lost money on this deal.

Reply by MW/VA on 1/13/10 8:09pm
Msg #317899

Not so fast....I would call them & tell them the signing was much more involved (they don't always know) & ask for an adjustment in the fee. I've found that most companies are fair & are willing to pay extra when it is warranted.

Reply by Kevin/Ct on 1/13/10 8:31pm
Msg #317906

I had a signing like that last summer. As it turned out the ss did not tell me that there was a POA in effect for one of the borrowers. The loan documents were not drafted for a signsture under a POA. When I told the ss this the title company responded by telling me to redraft the signature lines accordingly. To which I responded by doubling my fee for having to do the lenders/title company's work in addition to mine.

Reply by pjc on 1/13/10 9:01pm
Msg #317909

I sent him an email explaining how long it took and why and his response "I can't control how long it takes a borrower to sign". What's that old saying : Sometimes you bite the bear and sometimes the bear bites you." Well I'm feeling bitten!

Reply by MW/VA on 1/13/10 9:11pm
Msg #317910

It may be in how you communicated it. If you complained about "how long it took", we're not paid an hourly wage. If you had said, perhaps, that the signing was involved because of the POA, etc., it might have had a different outcome--then again, maybe not. IMO, tt's always worth a shot.

Reply by KODI/CA on 1/13/10 10:10pm
Msg #317917

Please post the name of that SS so that the rest of us will not get "bitten"