Posted by Stamper_WI on 3/16/11 6:28am
Msg #376310

Pointing out something about NVS

Their instructions tell you not to call the borrower. Later in the same paragraph, they tell you you can call the lender the day of the closing to get the phone number to call the borrower. So not talking to the borrower is not set in stone. Just an extra step.

**NOTE: There are to be NO calls made to the borrower(s) in advance. The
Closing Date and Time have already been confirmed with the borrower(s) by
Mortgage Investors, Corp. You can however cal MIC at 1-800-891-6678 on the
morning of your closings to get phone #’s for your closings after final #’s have
been reviewed."

Reply by LisaWI on 3/16/11 8:04am
Msg #376313

The only problem with that is.....what are the odds you will actually make contact with someone in the morning?? Most folks work during the day and most cannot receive phone calls during work or are unreachable at work, ie working in a factory. And yes, this is my experience in this biz as a whole.

As I stated before, working for NVS is ok for some who may not have schedules with kids and such, but those of us who have kids, this isnt something that works, and Im speaking for myself and others who may agree. Chasing borrowers isnt a part of my schedule especially if the odds of making contact are diminished by the likeliness they are unreachable. My protocol is to contact borrowers in the evening when I think they will be available to discuss with me directions and also I go over what I require for the appt and other info about the closing and even then, I have to wait for a return phone call.

Besides that, I dont discuss terms over the phone with borrowers. IMO, you cant do that successfully, most likely you will confuse the borrower. If they ask for such info I just tell them they will understand the terms of their loan better if Im sitting there with the paperwork in front of them and pointing things out to them.

Reply by Kevin/Ct on 3/16/11 8:58am
Msg #376317

I will not accept an assignment without the ability to speak to the borrower in advance. They need to know enough to have copies of the appropirate identification and that they need to have a witness present. It has been my experience that the title companies, signing services and loan officers do not inform the borrowers of these requirements. In which case the trip out to the borrower's location is for nothing, and you will have to fight to get paid.

Reply by rolomia on 3/17/11 5:11am
Msg #376442

Kevin/Ct,

In your post, you state that "they need to have a witness present." Does Connecticut require a witness separate from the notary on loan docs? If so, why? not, what are you referring to? Thanks!

Reply by MW/VA on 3/16/11 9:24am
Msg #376319

From what I've read here, some have found that working for NVS works ok for them. It didn't for me. There were a couple of situations where I showed up, borrowers were upset because they said they had cancelled earlier in the day. I also had trouble being paid for trip & print fees. It wasn't worth the hassle. I don't go on appts. I haven't been able to confirm with the borrowers, period.

Reply by A S Johnson on 3/16/11 9:55am
Msg #376322

I can find most names on lookup sites and get thier phone numbers and go to goole earth to check the what the address looks like.
I am in a semi rural area so going on to someone property after dark can get you shot, MORE so if you are at a wrong address.
Now take into consideration many of MIC clients are not "prime credit clients".
I remember having this "do not call" with many of CountryWide sub prime loans. Of course, the client had been seriously misled in what they were getting into and they didn't want you to "blow" the deal.

Reply by BossLadyMD on 3/16/11 10:47am
Msg #376335

At first, I was irritated by their no call to borrower policy. But I only take jobs relatively close to my home and I'm so busy sometimes that I love the fact that I dont have to chase people down in advance. I always find people well aware of the appointment and patiently awaiting my arrival when I get to their home. And I know this does not work for everyone but I can live with it.

Reply by John Bouchard on 3/16/11 12:45pm
Msg #376349

Who is NVS ? n/m

Reply by MW/VA on 3/16/11 2:55pm
Msg #376370

National Vendor Solutions. n/m

Reply by Moneyman/TX on 3/16/11 2:55pm
Msg #376371

Re John: National Vendor Solutions (NVS) :-) n/m