Your fee should NOT hinge on the borrower remembering to have a photocopy of his/her ID and furthermore, this is not an issue you should be stressing about. Keep a supply of ID forms in your briefcase and if they don't have a photocopy, just fill out the borrower ID form with their license information, have them sign it, you notarize it (if it's a notarizable one) and return it with the package. Many packages already have this form with the docs.
Alternately, the borrower can fax a copy of their ID to the title company the next day. There is NO reason for your fee to be halved because of this. Any company that would threaten me in this way would be on my HAS BEEN list. It's not my job to hold the borrower's hand. Borrowers are adults and if they can't follow directions at this juncture, why are they being allowed to take out a mortgage?
When speaking to them on the phone initially, I say: Now, what I need from you is this: As a notary, I will need to see a current picture ID, such as a driver's license or passport. Do you have this? (Yes or no) Okay, and also, the lender wants you to return a photocopy of your ID with the package; can you have a photocopy made? (yes, no). And finally, I need to know if I have your address correct (and I read off the address on the confirmation.)
I write these three items on the side of the confirmation: ID, photocopy of ID, Add Ver
As I speak of them to the borrower, I check them off. That way, I know I touched on the topics I need to verify.
I never stress about photocopied IDs. They either have it or they don't. But, I know I properly coached them. |
