Posted by Monique Insalaco on 4/2/13 8:47pm
Msg #464205

No Shows, Cancellations, & Did Not Sign

Have any of the long time signing agents run their stats for no shows, cancellations, and did not sign events? I'm curious how my averages for these events are tracking against the "norm." Any input would be appreciated. (I'm running at 12% of assignments end up as no show, cancelled or did not sign.)

Regards,
Monique in NM

Reply by Linda_H/FL on 4/2/13 8:55pm
Msg #464206

I have to honestly say less than 2%

I've never had a no-show, have had a few cancel but not last minute - 99.9% were canceled with enough time for me to fill the spot; have had 1 no-sign in 7 years.

Reply by SharonMN on 4/2/13 8:56pm
Msg #464207

I don't have formal stats, but mine is not anywhere near that high.

No sign: I've probably had 5 or fewer in the last 5 years.
No show: I think this occurred once.
Cancelled: There are more of these, usually due to no docs available (#1 reason) or borrower not available/had no idea his loan was closing when I called to confirm/was still working out issues with the lender. I've gotten so that I can often predict which loans will cancel before I leave. I don't worry about cancelled loans because I have no time invested and I usually am not so busy that I turn down work because I'm already booked. Also, any loan where they book you less than 2 hours before the appt. time is probably going to be a hassle if it happens at all - often the appt. is open because the previous notary gave it back when docs weren't ready.

Reply by Shoshana/AZ on 4/2/13 8:57pm
Msg #464208

I don't consider cancellations part of that because they usually get rescheduled. I can't rememebr the last time I had a no show. I had one no sign for all of last year.

Reply by Jack/AL on 4/2/13 9:25pm
Msg #464215

In 1,000 signings in 5 years, I've not yet had a "no show." Have had perhaps 5 "no signs," some because the interest rate was higher than the borrowers expected, or there were no costs payable at the signing (but fees were included in the new loan amount), and borrower had understood the LO to say that there would be NO COST to refinance. Most recent "no sign" was six months ago, and involved a conflict between the borrower's name on docs, versus name on identification. As an example, I'll pretend that all docs had her name a "Sadie," but every id she owned showed her name as "Sharde," yes, even the birth certificate. She was known as "Sadie" and had never used "Sharde," but worked for a group of attorneys and had never bothered to change the name. Several others have come close to "no Sign" status, due to name problems, but in cmost cases, borrowers were able to scrounge up other documents to verify sufficiently. I'll estimate the cancellations at 3% to 5%, normally during the hestic days near EOM. Some give me a welcomed break, while others are quickly filled by other appointments.

Reply by Jack/AL on 4/2/13 9:30pm
Msg #464216

That's "hectic days," not "hestic days." n/m

Reply by Linda Juenger on 4/2/13 9:39pm
Msg #464220

In 8 years I have had 1 no show. I've had my share of no-signs but they are few are far between and end up as a resign. Cancellations, too many to count, but again end up as a resign.

Reply by Sandra G Holland on 4/2/13 9:45pm
Msg #464225

I had one in a rural area that was supposed to have been for yesterday. I think of that town as having two stores--a mom-and-pop C-store, and a mom-and-pop C-store that is closed. I don't think they even have a restaurant. To my surprise, when I called the borrower to confirm, she said that they had arranged to have the signing at the local bank. They have a bank!? I guess they are not as rural as I thought. This is the one that got away.

Reply by Jack/AL on 4/2/13 10:01pm
Msg #464231

Oh yes, I did have one "no show," three or four years ago, but I could not blame the guy. After two days of leaving messages on his home phone, without a call back, I printed docs and drove the 25 miles, with promise of full pay. His adult son, who for some reason had not bothered to answer the phone or call me, opened the door and said "Dad's in New Orleans, watching the University of Alabama football game." After all, it was New Year's Eve or Day, so that was a sufficient excuse, especially since I was paid my full fee and did not even have to go into the home. Roll Tide!

Reply by Doris_CO on 4/3/13 1:03am
Msg #464250

This year I've had more cancellations then previous years and it's because the lenders haven't completed the process by the time the signing is scheduled to close. I don't worry about those because I don't print docs until the last minute. Those will usually re-schedule at a later date. However, last month I had two loans cancel at the table because the interest rate was higher then what they were told they were getting. I've probably had five in the last eight years so two in the same month was very unusual. I've had one no show. That guy decided a football game was more important then signing his loan documents.

Reply by Linda_H/FL on 4/3/13 10:29am
Msg #464266

"That guy decided a football game was more important then signing his loan documents. "

Isn't it?

Reply by 101livescan on 4/3/13 10:49am
Msg #464269

I have people run late for appointments. But I began calling them 30 to 60 minutes before to confirm, and to request a copy of their DL for loan funder.

Most people are so grateful to see me, since the process has been so long and arduous. Come in, come in, can we offer you some water, tea, coffee? Wine? It's like a celebration! I had a borrower set a place for me for dinner, of course, no time to eat, flying around like a crazy person trying to make all my appointments on time.

The only time a loan might not get signed is if impounds are included and they shouldn't have been, if the loan amount is too high and they want it to be lower and bring in more cash, then we have a redraw and reschedule the appointment. No shows? Nope, I always make sure we make contact prior to the signing appointment. I won't accept a gig where I can't contact the borrower first to confirm myself.

Have an awesome day. Not too busy this week because it's still "spring break". I'm taking advantage of it, but also lost my voice to laryngitis. Time to regroup here and get taxes done.

Reply by Luckydog on 4/3/13 11:24am
Msg #464280

Less than 1% for no shows, some cancellations prior, which is normal, maybe problem with docs. If they do not sign at table, usually the result in faulty paperwork or something, and is corrected and they resign asap. The "no shows" is because they are in another state and SS did not clarify the location prior to signing with one spouse or another. When I call to confirm, almost always catch it there. If you are running at 12% something wrong there, and you need to look at what you are doing prior to the closing and re-verifying information.

Reply by NVLSlady/VA on 4/3/13 1:14pm
Msg #464291

My thoughts, exactly!

<<"If you are running at 12% something wrong there, and you need to look at what you are doing prior to the closing and re-verifying information">>

The Confirmation call should nail them down. I also mention what I need from them and ask if they'd had a chance to view HUD1. If there are no docs, I let them know their appt slot is "pending" and I'll (or someone else maybe) call to confirm actual time after docs arrive

Reply by JanetK_CA on 4/4/13 1:29am
Msg #464380

Re: My thoughts, exactly!

What also might be telling is how that 12% breaks down between cancellations, no-shows and no-signs. I agree with NVLSlady/VA about nailing them down as best as possible beforehand, but I'm wondering about how many of them might be no-signs. If they represent of significant portion of that 12%, then something else is going on - like maybe a lack of experience or not taking time to help the BOs find answers to some of the most frequent issues. Lots of times something they think is a major problem is simply a lack of understanding of what's on the HUD. I think Cheryl (livescan) listed the ones where a no-sign for legitimate reasons is most likely.

To the OP, if you're getting no-signs for other reasons, you may want to see if you can find any patterns there and figure out if there are ways those issues might be avoided to reduce those numbers. These kinds of things are a great example of what distinguishes the so-called point-and-sign notaries from those who consider themselves remote closer professionals (or whatever other name might be preferred... )

Reply by Jack/AL on 4/3/13 12:54pm
Msg #464289

If Alabama is playing anybody, especially in a bowl game, the signing can wait. In all fairness to my no show, I never learned whether he was aware that the signing was even scheduled for that day. He'd been out of town for a couple of days of pre-game partying. His adult son never bothered to answr the phone when I called, or to call me back. I have no reason to think the son even bothered top try to communicate with his dad, concerning the closing. I'll be nice and assume that the son was not a U of A graduate or fan, poor thing!

Reply by Doris_CO on 4/3/13 2:12pm
Msg #464309

If my guy was at the Bronco's game, I could understand him not showing up. But, it was some local game on a Saturday morning and we had discussed the time of the signing to make sure he had plenty of time to get home. He just decided the game was more important then the signing and didn't bother to let me know. I didn't hear back from him until Monday morning when he thought he could fit me into his schedule. I decided I wasn't available and gave it back to the hiring party.