Posted by pat/WA on 1/17/13 11:14am
Msg #450806

He read everything

I mean he really read everything including the W9. Signing took 2 hours

Reply by Deborah Breedlove on 1/17/13 11:17am
Msg #450807

I would not have sat there for 2 hours while he read everything.

Reply by ToniK on 1/17/13 11:34am
Msg #450811

agreed! neither I n/m

Reply by pat/WA on 1/17/13 11:37am
Msg #450812

Re: agreed! neither I

OK
He was very clear about the fact that if he wasn't allowed to read everything he would not sign anything

Reply by ToniK on 1/17/13 11:40am
Msg #450815

Re: agreed! neither I

you get his LO on the phone and he can sit there and work for his commission. I had a person like that and it took him 4 hours. I made him call his LO and I jetted out of there. I dont have time for that. His LO makes a bigger commission...let him EARN IT!!!

Reply by dutchcloser on 1/17/13 12:21pm
Msg #450834

Re: agreed! neither I

I had a closing where the borrower told me during the confirmation that he was going to read everything and also record the closing and I said ok. I called the hiring party and let them know I will not be attending this closing. Simple as that! If they want to read call LO and ask for package to be sent before hand.

Reply by Eve/VA on 1/17/13 12:36pm
Msg #450840

I agree ... I say sorry, I have another appt., let's

call your L.O. and reschedule. That usually gets their attention.

Just like you all, there are BOs that I'm very patient with, I get that it's an important transaction to them. They're sincere.

Then there are other BOs who seem to want to take over the signing. You know, the ones that have refinanced a million times before, know the drill, etc., so won't listen to anything and still read everything line by line.

That's when I realize it's a game and I regain control by saying, gee, we're going to have to move along or reschedule.

Reply by Deborah Breedlove on 1/17/13 11:42am
Msg #450816

I understand his point of view, but

I simply don't have time to sit for 2 hours while he reads, nothing personal. I would have contacted hiring party and explained that borrower needs time to review docs ahead of signing appointment, and they need to reschedule when he has done that and is ready to sign.

Reply by CJ on 1/17/13 11:44am
Msg #450818

Has anyone here ever said . . .

Has anyone here ever said, "I've got to go to my next appointment. You can read these borrower's copies, and you call me when you are ready, and I will come back when I am done with my appointments".

Reply by HSH/WA on 1/17/13 11:47am
Msg #450820

Re:Do you leave the docs when you leave? n/m

Reply by Shoshana/AZ on 1/17/13 12:02pm
Msg #450826

I call and ask for permission from the hiring party.

They don't belong to me, nor is it my decision to make.

Reply by Anita Edwards on 1/17/13 12:05pm
Msg #450828

I hate that. It doesn't happen often but those are the ones that stick out in your mind forever.

Reply by MW/VA on 1/17/13 12:26pm
Msg #450838

I you allow it, then IMO you don't have a right to

complain. Yes, the public is wary of the mtg. industry because of all the horror stories. Page 3 of the HUD is full disclosure--no room for any games. If they have a 3-day RTC I remind them they can read everything during that period--otherwise, they don't read on my time!

Reply by Eve/VA on 1/17/13 12:36pm
Msg #450841

I agree n/m

Reply by pat/WA on 1/17/13 12:49pm
Msg #450844

Thanks for all your comments

But most of your comments do not cover signings that occur after 6pm pst and the loan Officer is on the east coast three hours earlier
There is no one for the borrower to call. No one for me to call. And I cannot leave the documents with the borrower
So I suck it up and wait it out. Eventually everything falls into place and the signing is done and I go home

Reply by Barb25 on 1/17/13 12:57pm
Msg #450847

Hmm. Guess you'll be doing this again then.

Whatever make you happy.

Reply by CopperheadVA on 1/17/13 1:21pm
Msg #450854

I had one of those recently - it was a non-owner occupied, so no RTC. I think it's easy for others to say in hindsight that there's no way they would stay, but sometimes it's more of a PITA to leave and come back later (which it would have been in my case due to the travel distance). And when you are in that situation, you don't know how long you are going to end up being there.

I'm sure you were sitting there hoping that he would get tired of reading everything once he got to the DOT/Mortgage and would stop. Many times they do, but once in a while they don't. Sometimes I get to a point where I've already invested so much time in the closing that I stick it out just make damn sure I get get paid my full fee instead of a trip fee. Thankfully those situations are rare.

None of us goes into a closing knowing that it will end up taking two hours or more to complete. And if I have other closings booked right afterward, then no I absoutely would NOT stay if someone insisted on reading everything word for word. I had that happen last summer - borrower was mad that I left and told me not to bother coming back later.

Reply by emilysigns on 1/17/13 1:37pm
Msg #450863

Not a black and white issue for me.

I allow for plenty of time between signings. I am careful not to overbook.

I feel-as a business owner- the service I am providing is important. The nature of the service that I provide is a fluid thing. I am not delivering a pizza, there is no "30 minutes or less" guarentee. I am a signing agent. I am there to provide support to the person signing their documents. If that person is comfortable with the paperwork and the process and wants to rip through it--GREAT.

If that person is not familiar with the documents and needs me to point out the various terms and they take time to understand what they are signing, I support that need.

I think signing a document that they are unfamiliar with and have not read is just as bad as signing a blank document. I wouldn't do it and I will never ask someone else to do it.

Now, I cannot blow off someone else either. It is important to know how to manage your schedule with the knowledge that not every appointment is quick and easy.

Only once have I had to leave and come back later and I fully explained why to the LO and the BO.

Reply by HisHughness on 1/17/13 4:15pm
Msg #450893

If it is a transaction with no right to cancel ...

... the borrower has every right to know exactly what he is signing. I have never had a borrower who wanted to read <everything>, but if I did and there was no RTC, I would let him do it and then seek additional compensation. If there is an RTC, then I will stay for a reasonable length of time, then leave. I don't get paid for them to read on my time, I get paid for them to sign.

Reply by TacomaBoy on 1/17/13 5:18pm
Msg #450908

Customers who read their Dox.

I agree with you 100%, Hugh!

I encourage customer to read everything. However, I've been around this stuff for so long that I have a routine that seems to work for me. Especially when there is a RTC, I emphasize the 3 to 5 day cancellation period, during which they can read and discuss the dox with whomever. For purchasers and investors I emphasize their "right to cancel escrow" in writing usually by fax during the mailing period. I also make it clear that, as a notary public, under RCW, I cannot give any legal advice or even explain the dox in much detail. I explain to the customers that having me hover over them, while they read dox is distracting and unproductive for all parties.

Then, if the buyer/borrowers insist upon reading everything, so be it! I announce to everyone that I'm leaving them with a copy of the dox (do not mark or sign anything until I return) for about 4 hours or more if needed, then I leave the customer's home. "Please call me on my cell phone, while I shop at the Walmart down the road, if they finish early!". Also, take copious notes. Perhaps I'll go on to another signing.

The entire encounter is nonthreatening, non-coercive and presented in a matter of fact manner. Most often, I'm called back to the table, but there have been times with I'm thanked by the customer for allowing them extra time as I exit their home. I never bluff the customers!

Reply by Barb25 on 1/18/13 8:24am
Msg #450990

To You make some valid points emilysigns:

But let me see if I understand. When you present the W9. You explain what it is and why it is there. (That is what I do, anyhow). And then you tell them to feel free to read all 4 or 5 pages of instructions. You will wait. Is that correct? And so on?

Reply by emilysigns on 1/18/13 11:42am
Msg #451023

Re: To You make some valid points emilysigns:

I don't explain every doc...certainly not something like a W-9.

For W-9, I say: "this is a standard W-9 which you are likely familiar with. They need you to indicate your tax entity status right here, and sign/date in this box right here. The following pages are standard instructions provided to explain the instructions I have just given you."

I have never had anyone read those...perhaps glance at them, but never more than that.

For the note, I will say: This is the first of your security instruments called the Note. You will find your loan amount here, your interest rate here, your initial payment date is here, and here you will see the payment address. Here is your payment minus any impounds, etc."

If they need a moment to review it, or they want to know their total payment, I will pull out a form such as the payment letter and the TIL to show them the break down.

My appointments take about 40 minutes to as long as 1.5 hours and I am ok with that.

Reply by LKT/CA on 1/17/13 8:28pm
Msg #450935

He would not have read everything including the W9 on MY time!! This should be addressed during the confirmation call. The borrower should be asked if they'd like to review the docs BEFORE the **signing** appt. If they say yes, then connect them with their LO/TC. It is a **signing** appt - not a reading appt. You're a NSA - Notary SIGNING Agent. You're there to witness their **signature**, not watch the borrower read 100+ pages. Yes, the borrowers have every right to review their loan docs....on THEIR time, not mine! Why are NSAs scared to behave like a business?