Posted by CJ on 11/5/13 1:10pm
Msg #491401
Code of conduct for Lenders, Title, and SS
Someone requested that I take this comment from another thread and start a new thread with it.
What would you like in a code of conduct for Lenders, Title and SS?
(I know that many of the people and companies that I work with already do a great job, and they don't need a "code of conduct" to keep them in line. They already have integrity, just like good notaries.)
Code of Conduct for Lenders:
1. Don't keep inflating the packages. (When I started, the packages were 50 pages. Now they are between 125 and 200, which is more than double. That's double ink, double paper, and double signing time. But you KNOW I am not getting paid double.)
2. Don't lie to the borrower about the loan. (like we should have to put that in a code of conduct?) I have not seen lying since pick-a-payment days and other strange loans, but still.
3. Don't set up appointments for signings when you know you can't even get the docs to title.
4. LOOK at a copy of the ID to see if it matches the vesting.
What about a code of conduct for title companies? Things like:
1. Get the documents to me before the signing. (If they get to me after the signing time, I MUST move on to my next appointment, and put your borrower at the end of the list.)
2. Be available after hours to answer strange questions about the hud.
3. Put enough for the notary fee into the hud so the notary can get paid a decent wage. (Is another $25 or $50 really going to hurt anyone? It would make a BIG difference to us.)
4. LOOK at a copy of the ID to see if it matches the vesting.
Good title companies already do these things.
What about a code of conduct for the ss?
1. Work out a REASONABLE fee with the title company. You need your share, but we need ours too. Is charging the borrower another 25 or 50 really going to make a big difference so that we can get paid to do our jobs? Everyone else is getting paid just fine, and with benefits.
2. Be available after hours for ridiculous questions from the table, and know how to get a hold of title. I know we can't have title's cell phone, but maybe you can. An encouraging word from title at 9:00 at night can save a signing.
2. Send the paychecks out on time. We hustled to get the job done in a timely and professional manner for you, so please do the same for us and pay us in a timely and professional manner.
Good Lenders, Title Companies and Signing Services already do these things. And, in reality dishonest people will sign a code of conduct without any intention of doing anything on it, and without worrying about the consequences, because they are already dishonest.
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Reply by Saul Leibowitz on 11/5/13 6:07pm
Msg #491454
One comment
I know I believe in your various points and some of this is tongue in cheek; however, never, never, never ask anyone to get the paychecks out on time unless you are an employee. Ask them to get the fee payments out on time.
Otherwise, good for you.
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