Posted by CaNotary777 on 4/24/13 1:36am
Msg #466894

Late evening signings -- what to do if LO not available?

And the borrower wants to know " why are the numbers different from what I had spoken to the LO"?
OR
I did not know I had to give money!
Or
why are they charging so much interest? It was supposed to be a lesser rate"
etc etc
As we know in late evenings few LO's are available.
WHAT SHOULD a NSA do in these situations( to save the signing yet satisfy the BO)?

Reply by JanetK_CA on 4/24/13 3:12am
Msg #466897

If you're just commiserating with the rest of us, then you're right on track. But if you're seriously asking (and it sounds like you are), that's when you pull your magic wand out of your notary bag...

Seriously, though, it's not our job to "save the signing". Check out the thread earlier today about reviewing the HUD. Sometimes a person with lots of experience can deal with some of these things, sometimes there's nothing that can be done, especially if the LO isn't reachable - and sometimes even if (s)he is.

But what you're asking would take a major brain dump to do justice to and I don't know if anyone will feel inclined to bother - let alone have the time - especially near End-of-month. (You can count me as one of them.) Sooner or later, you have to start trying to figure these things out on your own.

Reply by Reggie007 on 4/24/13 5:09am
Msg #466900

When LO's have not talked to the BWR and when LO's are not available, then one of two things are true. 1) The LO knows he is in trouble and stays away. or 2) He just don't care about a paycheck. Call leave message, call signing company, or title company and tell the story. Then get out, and go home.

Reply by bagger on 4/24/13 6:09am
Msg #466902

BINGO! n/m

Reply by Moneyman/TX on 4/24/13 12:34pm
Msg #466938

100% Correct! n/m

Reply by CaNotary777 on 4/24/13 2:06pm
Msg #466958

share words of wisdom (ONLY) pls.....

Don¡¦t want your sermon, want you to share your knowledge. If you don¡¦t have time to contribute ( your EOM theory) why bother to write anything at all?
your comment " But what you're asking would take a major brain dump to do justice to and I don't know if anyone will feel inclined to bother " was INSTANTLY proved WRONG by Ilene, who instead of trying to sermonize or patronize gave a quick and sharp solution.
Janet I DO understand the nitty-gritty of loan signings-- having completed a hundred of them. But it¡¦s ALWAYS a good idea IMO, to cross check with other notaries especially experienced ones.
At late evenings signings I have seen only on 20% occasions was any LO available. On 80% occasions I successfully used the methods advised by the kind notaries here , and NOT ONCE was the signing bunged. Its all about cross checking dear ļ

Reply by Moneyman/TX on 4/24/13 4:58pm
Msg #466988

And out of the "hundred" loan signings, you have never

... thought of asking the BO to get a good contact number for their LO for after hours signings when you confirm the signing? DUH!

That suggestion has been offered here for at least several years. You can also "cross check" by using the Orange Search tab as it is intended.

Your attitude sucks (proved by your "fo" at the end of your post).
I am sure that many others will just ignore any future "requests to share our knowledge" with you, I know I will.

Reply by CaNotary777 on 4/24/13 7:01pm
Msg #467008

I DID NOT put "fo", Notary Rotary did. why not ask them?

I do NOT use that kind of language with anyone. I placed----> <---- (Happy smiley) at the end of the message. How in the workld "fo" got in , i do not have a clue. the font is also different, which testifies to what I am stating here. Notary Rotary must know.
I dont like your reproachful attitude either Moneyman. Would take care to meticulously iggy you in future.

Reply by Ilene C. Seidel on 4/24/13 4:35am
Msg #466899

You leave VM's on every phone number you have. Then if you can't answer the questions tell the borrower they have a 3 day right to recind if they don't get answers to their satisfaction, then give them the option to sign or not sign. And for warn them their interest rate may expire, I would suggest they sign then deal with their questions the following day. I would also follow up with my hiring party to make sure they were taken care of sign or not sign.

Reply by Moneyman/TX on 4/24/13 12:47pm
Msg #466940

"And for warn them their interest rate may expire..."

Sorry, Ilene, it is not my job to be more concerned about the loan than the LO or to "for warn" the BO about something that may, or may not, be true for their specific loan. I do what I can in a situation that the OP described, but I don't put myself in the LO's role, when they couldn't be bothered to give their own client their cell number.

Reminding them of their 3 day right to cancel is something that I will do, and that will sometimes work by itself. I am not about to tell them this or that "may" happen as a way to get them to sign out of fear. I'll leave that tactic to the LO.

Reply by Donna McDaniel on 4/24/13 6:58pm
Msg #467007

When I have a borrower who is leaning toward not signing, I will show them their rate lock expiration date as well as the recission date.

I see nothing wrong with giving them the information they need so they can make an informed decision to sign or not.

Not advice, just the facts as stated in the docs that are right in front of us.

Reply by Moneyman/TX on 4/25/13 10:16am
Msg #467122

Showing them specific docs is one thing, "for warning" (i.e. verbally) them as a scare tactic is another. Other than that, I agreed with Ilene.

As you said, Donna, "Not advice, just the facts as stated in the docs that are right in front of us" is in our job description.

Reply by desktopfull on 4/24/13 1:22pm
Msg #466952

Let them know about 3 day RTC, sure. But warning of the consequences of not signing IMHO crosses over to legal advice, over my pay grade, not going there.

Reply by CaNotary777 on 4/24/13 1:56pm
Msg #466954

Excellent reply Ilene-- Thanks much :) n/m

Reply by Stephanie Santiago on 4/24/13 11:57am
Msg #466933

I tell the Signers they have three (3) days to read the copy

I am leaving with them of the exact documents they have signed - call the LO ask questions.
If they are not satisfied with the loan they have a legal right to cancel the loan if they choose to do so.
This is the way, I personally handle the situation in the OP.

Stephanie

Reply by CaNotary777 on 4/24/13 7:04pm
Msg #467011

Very good suggestion. Thank you :) n/m

Reply by dawn/IL on 4/24/13 1:15pm
Msg #466950

I simply reinstate my role and explain its late LO is not available, and instruct them to contact LO first thing in the morning for answers and reassure them of their 3 day right to cancel and explain once again how to utilize it.

Reply by CaNotary777 on 4/24/13 7:07pm
Msg #467012

Thank you all who contributed.

I genuinely appreciate your input ladies and gentlemen.

Reply by jae on 4/25/13 10:29am
Msg #467130

Re: Thank you all who contributed.

Called the signing service you're working with. They usually can reach LO. And, do remind them of the 3 day rescission.