Posted by Anita Posluszny on 10/13/10 1:04pm
Msg #356589

National Vendor Solutions

I have done several closings for these people, and they never want you to call the client before hand to confirm. Does anyone know why this is? Everyone else wants you to call to confirm.

Reply by CopperheadVA on 10/13/10 1:17pm
Msg #356592

They *say* it's a lender requirement, but I don't know for sure. I keep these close to home for that reason as well as because of their large packages (still kind of large even after their paperwork reduction). I've never had a no-show, but I've had two no-signs and I was paid half for each, just as their confirmation says.

Reply by Linda_H/FL on 10/13/10 2:07pm
Msg #356598

They don't want anyone contacting their borrowers

until they've had a chance to deliver the numbers to them and go over them and make sure everything is acceptable.

I had one scheduled for them for last night (that I had to turn back for personal reasons - nothing to do with the company) - I was called on Monday for the signing - they met my fee and was put in touch with the lender regarding contacting the signers - the lender told me they'd give me a number as soon as the borrowers had been contacted *by them*...I just made it clear that I would not be printing or going to the signing unless and until I'd spoken with the borrowers prior to the appointment - the contact at the lender was understanding and agreed with it...

As I said - I had to give this particular signing back...but I believe that's their reason - I think their problem is a concern that too much will be said by the notary on the phone...

MHO

Reply by Anita Posluszny on 10/13/10 2:18pm
Msg #356600

Re: They don't want anyone contacting their borrowers

I don't know that that is entirely true. I had one borrower cancel at the table because he was not aware that is was an ARM. They did pay me half for that one. Another time I was allowed to call the borrower because I could not find them on any maps or my GPS, so I had to call to get directions. Another time they lived in a gated community, so I had to call to get in.

Reply by Linda_H/FL on 10/13/10 2:22pm
Msg #356602

I can only tell you what I was told...

and I can understand it to a degree - we know some feel it saves them a trip to go over things in advance and, if not acceptable, they've not wasted the time or gas...I honestly was happy - yes - make sure your clients are happy and ready to sign before you have me contact them.

But that's why I stressed that I won't print or go til I talk to the borrowers...

Reply by Lavergne Manuel on 10/13/10 3:13pm
Msg #356613

Re: I can only tell you what I was told...

The Company is Mortgage Investors Corporation (MIC). I think they only do VA Loans. I've done signings for them with Servicelink also and it's the same. They want to go over the final figures with the borrower. I try to find the borrowers phone number on White Pages or Zaba Search and when I get the docs I call the borrower or if I can't find the phone number, when I get the docs I call MIC and they will give you their phone number. They usually get the docs well in advance of the signing so that has never been a problem for me.

Reply by CopperheadVA on 10/13/10 3:22pm
Msg #356615

Re: They don't want anyone contacting their borrowers

<< I had one borrower cancel at the table because he was not aware that is was an ARM. >>

That's odd - I always point out when the ARM begins and all my NVS borrowers have been aware that it's an ARM (that how ALL their loans are, at least the ones I've done for them). MIC does seem to have already gone over the numbers with the borrowers ahead of time. I've even had borrowers tell me that the loan officer came out to their house and spent 2 - 3 hours with them explaining everything.

The no-signs I've had - one was because the name of the wife was incorrect on the docs and a corrective deed was prepared the next day with new docs; the other one was when I got there, the guy had a new FedEx package from another lender (which he opened while I was there) and he was still shopping his loan!

Reply by MW/VA on 10/13/10 3:23pm
Msg #356616

I didn't have good success with this co. I don't feel comfortable going to a signing I haven't been able to confirm. One situation was that the borrower had cancelled before I arrived, and I was never notified. They were very irritated. They are huge VA pkgs., so be prepared.

Reply by Roadie_MD on 10/13/10 3:41pm
Msg #356617

I admit, it's a little unorthodox, but they have their reasons I guess. I have done many for them and they pay as agreed, and half fee for no-sign (had it happen once). Mine are always close, but I would insist on making a confirmation call if it was more than about 15 miles. I have had no problem with them, and they compensate me for the large package. They are all VA loans.

Reply by Anita Posluszny on 10/13/10 4:56pm
Msg #356627

I agree. They do pay well and very fast. I do like working for them, I was just curious why they don't want you to call when other people insist that you you do. Like you say, I guess they have their reasons.

Reply by Anita Posluszny on 10/13/10 5:04pm
Msg #356630

I agree. They do pay well and very fast. I do like working for them, I was just curious why they don't want you to call when other people insist that you you do. Like you say, I guess they have their reasons.

Reply by Ronnie_WA on 10/13/10 5:00pm
Msg #356628

I won't do these. MIC used to be ok with you contacting the bwr after you receive docs but not anymore. I took one, drove an hour and arrived at the home only for the borrowers to be shocked and upset at my arrival. It took them an hour to get the husband to the table and then I discovered he was legally blind. The appt took 3 hours and the LO told me I need to allow more than 75 minutes for an appt. No, I don't. If you have a clean deal, then I can call the bwr to be sure they are there and be advised of any disability so that I can adjust my schedule accordingly.

Reply by CopperheadVA on 10/13/10 7:31pm
Msg #356649

I totally agree that they should have advised you that the borrower was legally blind. 75 minutes should be plenty of time for a loan signing. NVS/MIC has sprung POA signings on me several times (I found out it was POA when I got the docs) and that adds much signing time to the appointment just because of all the extra words X 150 pages. I had one not too long ago that was 175 pages (25 pages of preliminary disclosures that needed to be re-signed with correct POA verbiage) with surprise POA and I was pretty upset with them. The closing took two hours and when I placed my confirmation call I let them know that I felt sandbagged with that closing.

I definitely keep these NVS jobs close to home - I will not drive one hour for their closings. MIC recently reduced the number of pages in their packages. NVS told me the package had been cut in half, but that was not my experience - it's down to 117 pages instead of 150. They do pay at 30 days without reminder and you also do not have to invoice them. I think if you keep these jobs close to home and stick to your fees, they are feasible to do.

Reply by MW/VA on 10/13/10 8:10pm
Msg #356657

Not a bad deal if the pkgs. are smaller now. They weren't

when I was doing them. They were the largest VA pkgs. I've seen. A lot of printing for me with the risk factor of not being able to contact the borrowers.