Posted by brass/LA on 1/24/13 8:33am
Msg #451837

AMC Settlement - Partial Closing by Phone

Got a call from this title company asking if I could do a 7:30 pm closing. Said yes, then was told docs would be sent to the borrower and "We are going to call the borrower at 6:30 pm and go over all of the documents that do not require a notarized signature". Advised them of my fee for overnight docs $xxx, which they wanted me to reduce. Quickly thinking this out I declined this assignment since I really didn't want to get involved in "too many hands in the pot". I told them if they wanted me to handle the entire signing I would do it, but didn't want to get involved in a situation where I could be blamed for some error that I was not involved in.

Let's hope this is not the start of another angle to reduce our fees!

Reply by Linda_H/FL on 1/24/13 8:50am
Msg #451839

IMO if they're going to go over docs on phone with

borrowers, they can have the borrowers sign those docs at the same time and just set aside the docs requiring notarization - then I'd handle it like a GNW appointment - $10/notarization plus travel and borrowers can drop the package too.

If I have to go through the whole package to obtain signatures on all docs then I agree with you - an overnight doc fee is probably appropriate.

Reply by Donna McDaniel on 1/24/13 9:00am
Msg #451841

What did they want to pay, if you don't mind my asking?

Reply by Linda Juenger on 1/24/13 10:27am
Msg #451855

I've had a couple of these. They aren't bad at all. Closing is almost completely done before you get there. All that's left are title docs and the mortgage and maybe a couple others. Fast and easy. Yes, the fee is reduced a bit, but so is the work.

Reply by panotary1 on 1/24/13 12:30pm
Msg #451884

I work for AMC Settlement all the time, not all of their packages are like this. The one lender that they work with, I think it's New Day Settlements, prefers to have their attorney conduct the closing by phone. All you have to do is show up, ID, and stamp away. They always pay a decent fee and you are in and out in a few minutes. Other lenders that they work with, are the "good old fashioned way". Never any payment problems either.

Reply by MW/VA on 1/24/13 10:19pm
Msg #452032

I had a couple of those, not through AMC, though. I

don't like them. IMO I'm a trained professional, and it's more efficient for me to conduct the closing. I think that one of the cos. that does this is a GA co. & is confused that not all states are attorney-only. It could also be the result of all the "robo signing" trash news that's been floating around. The NNA loves that buzz word. ;-) LOL

Reply by Malbrough_LA on 1/24/13 3:30pm
Msg #451930

This sounds surprisingly like one I had to decline last night! Not due to inability to comply, don't worry about that issue, brass. I had to decline because my office network decided it was an optimal time to descend to the nether world of data transmission (latency and ping in the afterlife for electronics is a non-existent thing by the way).

I was disappointed to have to turn it down because they were willing to meet my fee of XXX, but my physical location reduces the load put on the DMV State systems. We can NOT be down at all. Much coffee was shared b/w myself and my network engineer as we cursed at inanimate objects into the wee hours of the morning, but we got the problem resolved. [thank sweet merciful baby Jesus that Walmart is open 24 hours...but the sights you see at 2am in there are....entrancing oddities.]