Posted by ME/NJ on 7/28/11 9:47am
Msg #391755

Do you like e-signings

I avg about one a week from First Serv and it seems to take longer doing a e-signing vs paper deal. I can get a paper deal done in 20-30 mins depending on package size and any questions, e-signing 45-60 minutes.

I get timed out at least twice a signing if not more.

Reply by MW/VA on 7/28/11 9:54am
Msg #391757

No, I never cared for them & have gotten very few calls. I'm guessing there's another notary in my area that takes them & they're welcome to them. :-)
I had suited up with a laptop & aircard in the beginning. I ditched the aircard within a few mos., because there wasn't enough of these to warrant the extra expense.
The one's for Amtrust aren't bad, but the one's for another co. were horrible. Had to go through all the paper docs again online, etc. It took at least twice as long as a regular signing, and I vowed not to take anymore of those.
Outsourcing is what it's really about--saving money for the co. at my expense.
I won't supply the computer, network connections, etc., for free. That's the bottom line.

Reply by BossLadyMD on 7/28/11 9:59am
Msg #391759

I dont care for e-signings either

I get less than 5 calls a year asking me to do one.

Reply by ME/NJ on 7/28/11 10:04am
Msg #391761

I bring my laptop as a backup, I always confirm people have a computer and internet connection. I never went for a aircard as I always knew the work would not cover it. My phone is a hot spot but there are limits to data, when I was in Las Vegas I downloaded 2 movies and reached my limit so now I only use it for emergency only.

Reply by Ilene C. Seidel on 7/28/11 10:09am
Msg #391763

I have found e-signs are about equal or shorter (sometimes) but never longer than a paper closing. I would like more of them however Maryland doesn't seem to be the place lenders use e-signs

Reply by MaggieMae_CA on 7/28/11 10:03am
Msg #391760

Not very fond of them...

I think they take longer because people seem to actually read the documents. I find with paper signings I can give a brief review of the terms of the loan and read the title of a document as I put it in front of the borrower for signature and they are more likely to just sign and move on. When I have co-borrowers doing an eSigning they both take turns peering at the screen and scrolling thru each document.

I find that its quicker and easier to use the borrower's computer rather than my laptop, simply based on familiarity of the computer for the borrower. I've used the borrower's computer when I wasn't able to obtain a signal with my aircard.

Reply by garland/CA on 7/28/11 10:20am
Msg #391765

Re: Not very fond of them...

I like using their computer too, if possible. They are more comfortable with their own equipment and it is easier to save the docs right to their computer after the signing. Often they have specials files they like to save in.

I find these take a little longer because of logging in and borrowers taking time to each click etc. Recently I had three within a few weeks of each other, which made it easier. Otherwise I don't do many and have to familiarize myself beforehand a little bit each time.

Reply by BestFlCloser on 7/28/11 10:43am
Msg #391771

Luv eSigning

I've done a couple of hundred over the past few years and find them to be quicker with less work than a paper signing. I'll take all that I can get. I also charge an extra fee for an eSign so that adds to the bottom line. I been using aircards for years and have an unlimited plan which is no longer offered by Verizon, but since I've been with them for years, they grandfathered me in.

Reply by MichiganAl on 7/28/11 10:40am
Msg #391770

I very much dislike them

They take much longer and there are almost always system issues. I only take them if I have absolutely nothing else going on because I never know how long they'll take. And I won't budge one penny on my fee. As others have said, I try to do these on the borrower's desktop computer. It's such a resource hog that it makes most laptops sputter and wheeze.

We've been told for years and years that e-signs were the wave of the future. Not so much.

Reply by GOLDGIRL/CA on 7/28/11 11:22am
Msg #391780

They're OK .... barely

Don't dislike them - but don't much like them, either. They take more time, for sure. The key to a happy e-signing, I've found, is using the borrowers' desktop computer, if possible, and it usually is. I've done only Amtrust and have turned down calls for the other one (Flagstar?) because of the nightmare experiences notaries have related here. (Thanks, NR!).

I, too, remember when e-signings were going to take over the world. Hardly hear of them anymore....

Reply by Yoli/CA on 7/28/11 12:31pm
Msg #391798

Re: They're OK .... barely

I agree. They do take more time. I'll do them and even though I'm fully equipped, I too prefer to use borrowers computer. The main drawback is companies don't want to pay the higher fee.

Reply by ReneeK_MI on 7/28/11 2:20pm
Msg #391815

I send all mine to Alex =) n/m

Reply by NJDiva on 7/28/11 3:44pm
Msg #391831

Whaaaat?...lol n/m

Reply by NJDiva on 7/28/11 3:53pm
Msg #391837

Whaaat?...lol

"lets try this again"...

Okay Mike, HOW do you "get a paper deal done in 20-30 mins"? There is no way in hell you are documenting their info in a journal, notarizing the doc's in front of them and getting a paper deal done in 20-30 mins. I suppose if you're an atty you probably don't necessarily keep a journal (most of them don't), but how are you filling out the cert's. It just about takes me that long doing the cert's (okay, a bit of an exaggeration, but it adds a bit of time, "the most time consuming part of the whole process" I always tell the BO.)

And if you're just having them sign, sign, sign here, how are you making them just sign everything without them giving you a hard time about wanting to "know what they're signing?"

I want to be a fly on the wall in your closings.

Reply by ME/NJ on 7/28/11 4:37pm
Msg #391848

If you can't do a 60 pg pkg in 20 minutes

Find a new field of business. Most of my TC deals are 60 pages.

Reply by NJDiva on 7/28/11 5:06pm
Msg #391854

Re: If you can't do a 60 pg pkg in 20 minutes

"Find a new field of business." OUCH! EASY THERE TIGER!!!! For one thing, I want to know where there are 60 page deals anymore...lol Thought that was a thing of the past with all the disclosures now a days.

But I still wouldn't finish in 20 minutes. Finding a new line of business???? hmmm, thanks for the advice but...well, as much as I appreciate your words of kindness, I'll not head them today!!! Thanks anyway. Don't be so hateful...lol It's not like I pee'd on your Cheerios.

Reply by NJDiva on 7/28/11 5:09pm
Msg #391856

lmao...that would be HEED, not HEAD! LMAO n/m

Reply by RickG/CA on 7/28/11 4:13pm
Msg #391844

Re: Do you like e-signings - It's a Love/Hate Thing...

I hate getting them (Flagstar/Fiserv anyway) and I love when it's over.

I accept them for only a few select EO's who also detest the Fiserv system. I've declined more than I've accepted this year. Not that there were a lot.

On the flipside, the AmTrust (NYCB) system is much better. Not much call for them since the takeover from NYCB. Are they still viable?

Reply by garland/CA on 7/28/11 4:29pm
Msg #391846

Yes, Amtrust/NYCB still viable

I did three last month - so yes, still viable!