Posted by HisHughness on 2/18/12 8:59am
Msg #412167
Question on business practices
Situation:
Notary assigned closing two days in advance. Comes time for closing at 1 p.m., no docs. Rescheduled to 2:30. At 2:30, no docs. Rescheduled to 3:30. At 3:30, no docs, agent has other closings booked for the rest of the day, so has to turn assignment back.
Second notary hired for closing, now scheduled at 5 p.m. At 5 p.m., no docs; closing rescheduled to 6:30 p.m. At 6:30, no docs, closing rescheduled to 8 p.m. At 8 p.m., no docs, so closing cancelled altogether.
Next day, all document issues resolved, closing is rescheduled.
Question: Which notary should have priority for getting the closing when it is finally ripe -- the one who had to bail because of other commitments, or the one who was called to fill in the breech?
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Reply by Linda_H/FL on 2/18/12 9:06am
Msg #412170
Neither one IMO
Providing there's no agreement from company that "we'll call YOU tomorrow when we're ready', then IMO neither notary has priority....it's back to square one and whoever is available.
If you have to assign priority, I'd say the last person in chain has it. First person stepped out of the transaction - if you start with the "who has priority" game you're going to have companies apologizing and explaining themselves to every notary in range to do the closing. **it happens...it's business.
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Reply by A S Johnson on 2/18/12 9:22am
Msg #412175
Re: Neither one IMO
Why are would want work fr companies that areso dis-organized with no concern for you the notary?
Who should get the sigining, who wants it?
"you're going to have companies apologizing and explaining themselves to every notary in range to do the closing. **it happens...it's business" IMHO it about time, maybe, just maybe, these companies will do thier jobs before assigning the jobs.
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Reply by Richard Ingram on 2/18/12 10:56am
Msg #412198
Re: Neither one IMO
Not too many companies are truly concerned with their notaries in my opinion. I do salute the one's that are. Most of them place us on the same level as cab drivers.
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Reply by GOLDGIRL/CA on 2/18/12 11:12am
Msg #412200
I don't think so, Richard....
I think cab drivers are treated much better that NSAs.
As the owner of a SS once told me, on the scale measuring importance of all those involved in the lending process, "notaries are lower than whale poop."
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Reply by Richard Ingram on 2/18/12 11:21am
Msg #412201
Re: I don't think so, Richard....
Goldgirl/CA,
You just blew away any vestige of prestige that my lowly status may ever have. How true though is the situation.
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Reply by Barb25 on 2/18/12 12:50pm
Msg #412219
Yep. n/m
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Reply by Barb25 on 2/18/12 12:51pm
Msg #412220
I did it again... wrong place for response....ugh n/m
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Reply by Barb25 on 2/18/12 12:52pm
Msg #412221
Let me try this again: Yep! n/m
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Reply by GOLDGIRL/CA on 2/18/12 11:26am
Msg #412205
Is this a trick question?
Picking "a" or "b" is beside the point. The point of this scenario is why is anybody "giving back" a signing over late docs? Baffling!? The signing belongs to the original notary and there it will stay. There's no need (except in extreme circumstances due to complete unavailability of NSA or borrower such as if one party or the other or both are in line to board a plane to a safari in Africa) to ever turn back a signing over late docs and thus there would be no need for the hiring agency to ever call notary #2. The example you gave is the perfect case in point: If original notary has kept mouth shut, original notary would be doing the signing the next day and nobody the worse for the wear.
If the docs are late, the signing goes to the back burner and borrowers are alerted and placed on hold until docs arrive. Eventually docs will arrive (in most cases), and borrowers and notary will set new signing time.
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Reply by Linda_H/FL on 2/18/12 11:41am
Msg #412211
I thought he was clear why the signing was turned back
"At 3:30, no docs, agent has other closings booked for the rest of the day, so has to turn assignment back."
As a result, notary #2 was contacted and took it from there...
Why baffled?
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Reply by JanetK_CA on 2/18/12 8:37pm
Msg #412287
Re: Is this a trick question?
I don't think it's quite that easy. Sometimes a client will say to get it done by the next day or asap or whatever, which case, of course, that wouldn't be a problem. But in my experience, we usually don't know if the docs are date sensitive or if there's a rate lock, so I wouldn't just assume that it could be rescheduled to whenever. Also sometimes the hiring party prohibits rescheduling - although if they (or their client) can't get the docs to the notary in time, all bets are off.
If I had time later, I might just try to fit it in, but I've turned back an assignment in a similar situation.
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Reply by ReneeK_MI on 2/18/12 11:29am
Msg #412207
Answer - whomever the hiring entity hires. n/m
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