Posted by NVLSlady/VA on 7/29/13 11:16pm
Msg #478454

What is your marital status?

When I originated loans, the question was more tailored: Are you married, unmarried, etc.?

I wasted time today because I ignored the SAFE rule. Knowledge IS power, but wisdom is far better.
Had I applied the knowledge I have about confirming all signers, I could have saved a trip!

Docs sent 2 hours away from signing time (I am going to have to rethink my co. policy); and I wasn't feeling well - just wanted to print and go and be done with it. Borrower and I communicated by email -and covered what I thought were all the necessaries: ID, name spelling, HUD, funds if applicable.

Maybe it was the pronoun "we" in the email that threw me off. Turns out non-borrowing spouse was out of the country; in fact, this is the 3rd situation in under 2 weeks where signers and/or spouses were traveling to/from U.S.

I'm eating this one. Rushing was no excuse for not PICKING UP THE PHONE and confirming presence of all parties. It will never happen again.

New notaries in marital rights states, take Heed.

p.s. Know what the irony is? Phone call from different SS while en route . . . and I declined.

Reply by rolomia on 7/29/13 11:27pm
Msg #478456

Even when I'm not busy, am fully rested and mind seems sharp, I still find that I forget important information. I wouldn't stress over it. However, I would suggest a checklist that includes asking about marital status. I keep such a checklist posted on the wall by my phone, another copy in my notary briefcase and an extra copy in my car. Learned that lesson the hard way, too. But, found a great way to compensate for it. Good luck.

Reply by Exclusive Mobile Notary on 7/30/13 12:25am
Msg #478462

You're "eating this one"?? I would sure as hell hope the title co is still paying you for the trip and print...

Reply by NVLSlady/VA on 7/30/13 8:29am
Msg #478479

In the signing confirmation (well in advance of the actual signing), the 4-star SS states:

*** CONFIRMING THE CLOSING ***
You must call the borrower/buyer immediately upon receiving the assignment to confirm the closing time and location and marital status, unless you are told otherwise. If you are unable to reach borrower then call xyz immediately. Do NOT print the docs until the closing time and location are confirmed. We will not pay for trip fees or travel fees if you do not confirm the closing before going out. THE LEAVING OF A MESSAGE IS NOT SUFFIECIENT! Any issues or time change requests must be approved by xyz immediately. DO NOT CHANGE THE TIME WITHOUT APPROVAL.

IMO, this goes without saying. Also, part of the "confirmation" process is assuring that all borrowers (even non-bo spouse) is present. I am not an experienced signing agent; however I am Polished and professional and know not to rely on the assumptions that others have done their jobs correctly. This flying by the seat of one's pants is costing everyone in the biz time and money.

I received this closing on Fri; I tried reaching bo by phone (of course, didn't get him since he was in South Am). I left him a message then sent SS an email that a message was left. When borrower returned, he chose to contact me via email (which was fine) and we sorted everything out. Naturally, by time docs arrived (with non-ob docs included), we were then "under the gun" time-wise. Relying on the ASSUMPTION that borrower Knew that I expected his spouse to be there I Neglected to make that final phone call.

Bottom line: I think email messaging has its place, but a phone call can be Golden to clarify essentials - even when it has to be done at last minute.

Is there an excuse for docs 2 hours before appt when closing was scheduled days in advance (I even had to call and check on them)? I really don't think so - but it's not Perfect. You'll notice how the SS "covered" themselves in the Instructions.

We as business owners need to emulate their prowess and INSIST on having documents at a reasonable time so as not to interfere with other activities in our day. If that means building in On-call pricing in our fees, so be it. And as was suggested, the "checklist" is a non-optional "build-in" to accepting any assignment: How many signers? What type of loan, property, etc. (investments will require fax-backs; govt loans require more time)? What additional contact method does lender have for borrower? Is TC aware of restrictions for non-licensed notaries?

Don't mind being flexible, but will not be a doormat, either. I've had SS say after the fact, "Oh, didn't know there were going to be fax backs."

My business model is to confirm appointment* - and that INCLUDES verifying presence of all signers.
I will take the loss on this one if I have to and WILL BE revisiting my policy on the receipt of documents the same day of closing.

*I would refuse any signing where confirming was prohibited

Reply by Notarysigner on 7/30/13 9:48am
Msg #478489

Disagree >>>> *I would refuse any signing where confirming was prohibited <<<<

As long as the hiring party pays for a "no sign" I'm going. When I get there and nobody's home....I want to get paid, it is their policy not mine. I believe NVS is the only one that does that (don't call borrower that is).

Reply by NVLSlady/VA on 7/30/13 9:58am
Msg #478491

No Sign Fees

I'm sure NVS is in the minority (as you said, "the only one that does that").

Don't stomach the idea of wasting resources (ink, paper, fuel) - But
Hey, I'm not partial to a "drive by" signing with FULL compensation!

I imagine their reasoning on this would be "our borrowers are fully aware and informed." That's very rare it seems. But I'm all for SOMEONE ELSE doing the educating instead of Me.

(Would really love the signing co.s here chiming in on the basis for such a no-contact policy)

Reply by NVLSlady/VA on 7/30/13 10:00am
Msg #478492

Re: No Sign Fees

oops! meant: I'm partial to a "drive by" signing with FULL compensation!

Reply by Linda_H/FL on 7/30/13 10:25am
Msg #478497

Re: No Sign Fees

"Would really love the signing co.s here chiming in on the basis for such a no-contact policy"

I'm not the company but I can tell you what they told me when I questioned it - they want time to review with the borrower before notary makes contact - they've had too many notaries give too much info on the phone - bad info at that.

I've never been denied permission to contact in advance - once they've reviewed final HUD with the borrowers.

Reply by NVLSlady/VA on 7/30/13 10:57am
Msg #478502

An educated consumer

is my Best client!! I can't imagine having to wear the lender's "hat." That is simply not our role.

But, it really raises a question about how I will choose to do business in future: In your opinion, Linda (or other long-time nsa's) - What are my chances of retaining business if I implement a policy that I only go out on calls where LO has reviewed the HUD with signers (as it is, most borrowers tell me if I hadn't suggested they get a copy of HUD prior to settlement, they would have been lost in so many words).

In fact, I noticed a document in one seller closing last week where HI demands large tax % of sale. I had signer request in advance to review HUD (buyer info wasn't on there yet, but it had the estimates). He immediately told me at the signing he was concerned about $21k difference on the HUD. I smiled and pulled out the real estate state tax doc. "Is this where the $$$ went?" And on we went. All went well.

Yes, our roles are crucial; but honestly, why would a notary feel the need to give any info on phone to borrower/seller other than when, where and bring certified check (and oh, did I say ARE YOU MARRIED?)
We don't get paid enough to do others' legwork. JMHO

Reply by Linda_H/FL on 7/30/13 11:15am
Msg #478515

Re: An educated consumer

"but honestly, why would a notary feel the need to give any info on phone to borrower/seller other than when, where and bring certified check (and oh, did I say ARE YOU MARRIED?)
We don't get paid enough to do others' legwork"

You're absolutely right...but there are many who do. There are also those who review the note, payment letter etc etc on the phone. HOw do I know this? REad here and elsewhere consistently - they've posted that they do this to save time.

As for your other question, I don't know how that would impact your business. It's not a problem for me. I'll go over the HUD with them when I get there, but I always hope they've seen it prior to - if not, oh well. What I *DO* sometimes ask on the phone is "what are your expectations? Are you expecting money back, bringing money to table or breaking even" - this way when HUD comes in I know if it falls within reasonable lines of the borrowers expectations.

JMO

Reply by NVLSlady/VA on 7/30/13 4:46pm
Msg #478586

Re: An educated consumer

<<"Are you expecting money back?">> Like!

Rest is overkill. Those nsa's are definitely UNDERPAID (maybe they're getting a portion of LO commission)