Reply by CopperheadVA on 6/25/10 6:03am
Msg #342445
Yesterday I got a call for an RM. I've done a couple RM's quite a while ago, but found that I really don't like doing them and so now I decline them. Besides the additional Note and DOT, the ones I have done here in VA have had multiple other docs in there that I am not familiar with and even though I have studied those docs, I just don't feel I understand them well enough to present them to the signers. Since I get so very few calls for RM's I have simply decided not to accept those appts.
Also, even though these borrowers are *supposed* to have undergone counseling, I have found that the counseling is usually not adequate and they really do not understand the paperwork beyond the fact that they won't have a house payment and in some, but not all, cases they will receive a monthly payment from the lender.
My first experience with a RM was a couple of years ago and was a total surprise when I received the last-minute docs and discovered it was a RM. I went to the appt and the borrower thought the L/O was coming (he wasn't) and the borrower also had her three adult children there and there were lots of confused phone calls from them to L/O and such. I remember she refused to even sign my journal, let alone any of the docs, until her son arrived and the L/O called them back. Lots of waiting. It was a very uncomfortable situation for me. Now that I have more years of experience under my belt, I would now handle that situation differently.
These appts usually end up taking a lot of extra time and the SS that called me yesterday doesn't even like to come up to my reasonable fee for regular refi's, so even if we had gotten to discussing fees I seriously doubt that they would have paid what I would have required. Hope yours goes well, Linda!
|
