Join  |  Login  |   Cart    

Notary Rotary
"Do not tell the borrower that you do not have docs"
Notary Discussion History
 
"Do not tell the borrower that you do not have docs"
Go Back to June, 2011 Index
 
 

Posted by mwm143 on 6/21/11 1:58pm
Msg #387114

"Do not tell the borrower that you do not have docs"

as this upsets the Lender.... LOVE that instruction. So I've got a closing in one hour and no docs. Wonder what I should tell the borrower??

Reply by CopperheadVA on 6/21/11 2:02pm
Msg #387116

Yes I have seen that before for a particular TC! I guess they want you to be the fall guy and take the blame???

Reply by SharonMN on 6/21/11 2:13pm
Msg #387118

If I knew I was going to be late due to late docs, I would definitely tell the borrower.

However, I've seen some signing agents post that they warn the borrowers docs might be late as a general procedure when they confirm. I think that's wrong.

Reply by Notarysigner on 6/21/11 2:14pm
Msg #387119

...Or they're shopping for a cheaper notary.

Reply by MW/VA on 6/21/11 2:21pm
Msg #387122

Haha. "upsets the lender"?? What about the borrower & the

notary? LOL

Reply by mwm143 on 6/21/11 2:56pm
Msg #387131

I told brwr apparently there have been some computer issues

as I am awaiting their paperwork which I will need to print before heading their way.

Hey, I'm tired of waiting, the borrower will be by the time I get there and the TC is chomping at the bit to get HUD approval so they can send the docs. But just as long as that lender is happy!!!



Reply by JanetK_CA on 6/21/11 9:02pm
Msg #387197

Makes no sense to me. [And a book recommendation.]

Amazing! I don't see how the lender could be happy if the borrower thinks the tc they selected (most likely) is sending out someone who appears to not have their act together if they take the hit! And then you have to be the one to sit across the table from them? I don't see how that helps anyone - including the lender - look better to the borrower... The actions of everyone involved in the process reflect on the lender.

BTW, that reminds me of a book an appraiser friend of mine wrote about the real estate industry. It's called "42 Hands in Your Pocket" by Rex Dungan and is available from Amazon. Here's his description of it, in case anyone is interested:

"The real cost of buying real estate. On almost every real estate transaction, there are more than 40 professionals that depend on [it for their] incomes. This book talks about who they are, what they do, who pays them, and how much they get paid."

Unfortunately, I gave away my copy before I had a chance to read it, so I may try to beg another free copy from him. Wink But it looked like a very interesting read to me for anyone in our business. Although it was published in 2008 and some of it is probably a little outdated, I imagine the concepts have pretty much remained the same.


Reply by NJDiva on 6/21/11 9:08pm
Msg #387201

Makes no sense to me. [And a book recommendation.]

"This book talks about who they are, what they do, who pays them, and how much they get paid...Although it was published in 2008 and some of it is probably a little outdated..."

Obviously our fees have changed...lol

Reply by Ilene C. Seidel on 6/21/11 2:56pm
Msg #387132

Call borrower tell them the lender is backed up and u don't have docs and ask them what their availability is for the evening that u will follow up with title. You must tell them something just be concerned let them know you are following up with title. If they are frazzled ask why? Maybe they have other plans so you'll need to let title know. We must work as team to accomplish the closing.

Reply by mwm143 on 6/21/11 2:59pm
Msg #387137

Thanks Ilene...I think I've got it covered..10 years exp n/m

Reply by Ilene C. Seidel on 6/21/11 5:39pm
Msg #387167

Re: Thanks Ilene...I think I've got it covered..10 years exp

There's no way to know how long you've been in buz since you don't publish your site.
Good Luck

Reply by Lee/AR on 6/21/11 3:49pm
Msg #387144

the dog ate them n/m

Reply by HrdwrkrVA on 6/21/11 4:34pm
Msg #387156

Yeah don't tell BO ... I've posted before how the TC told BO

the NOTARY (me!) was running late! Ended up gettig held hostage , called 911 for police escort out of the house, blah, blah, blah! How about a conference call to TC & let THEM explain why docs aren't ready???? By fedl LAW, BO is supposed to have FINAL HUD 24 hrs prior to closing. Of course most don't know this, however some savvy BOs INSIST! I will NOT be the fall guy/ gal! Why shud I create a hostile environment for MYSELF???? SMH!

Reply by desktopfull on 6/21/11 4:31pm
Msg #387155

Internet server went down, will call when get back online. n/m


 
Find a Notary  Notary Supplies  Terms  Privacy Statement  Help/FAQ  About  Contact Us  Archive  NRI Insurance Services
 
Notary Rotary® is a trademark of Notary Rotary, Inc. Copyright © 2002-2013, Notary Rotary, Inc.  All rights reserved.
500 New York Ave, Des Moines, IA 50313.