Sigings that take too long.

[Cliff Goff Jr]

I had a signing last night that started at 7:30pm and last until about 12:30am. Now before you say he has totally lost control of the borrower let me explain. This lady and her son could careless about the 3 day recission. All she wanted to do was read every d"%* document in the package. Plus she was one of those borrowers that thought she knew everything about mortgages but really didnt know anything. The sad part was we could not even reach the loan officer. Anyway, I am calling the signing company today to notify them that I need more money because of the time it took to complete this and really allot of her questions should have been taken care of by the loan officer. What is your take on these circumstances?

[Sheri Smith]

That's the longest signing I have heard of. Had one that took 3 hours, lady was legally blind and read every word with a magnifying glass. Then she would pass them to her husband and he would sign, then pass them back to the blind lady and she would do it all again, then realize she already signed it. I am in Florida "god's waiting room". I lost control of the borrowers alot at first since they are of advanced age and like to be in control. But I lay it out for them at the beginning about who is responsible for answering what and then throughout the signing, I have that exit to get them to sign and find out later. If they keep haggeling with me, I tell them I can leave and come back after they have it all straightened out with the loan officer, or I can stay and they can sign and the funding date will stay intact. Otherwise, if I leave they funding will be postponed. That usually works. I never asked for more money from the signing company, but it is worth a shot I suppose. They are generally so cheap it is not worth the aggravation. I just took the long closings as a learning experience.

[Pam]

Good luck on getting extra funds....I like Sheri's little spiel. I've had some hairy ones, too.

[Peggy Curtis]

Good luck Cliff trying to get more money. It annoys the signing service, as well, when it takes this long. I wouldn't burn my bridges. I have had a couple take more than 2 hours and I had to chalk them up to experience, as well. Your beef is with the LO and we all know what it is like when you have to try to hurdle the signing company and title company to get to Mr. LO. But that is my pet peeve, if anything, in this business... unavailable LO's during closings.

[Cliff Goff Jr]

The only other time I had this happen, the signing company offered to pay more. The sad part about this was that this is the third time this lady has attempted to close.

[Dinah Chambers]

There is no bliss involved with this, that's just plain ignorant.

[RAMON LOPEZ]

Well what I usally do is when I see it will take more than 1 hr, I excuss my slf by saying, I'm sorry but I have another appt to get to. Please decide if you will sign your doc's or not. This usally works. I let them kno that they can have me for 1 full hr, but they same time I dedicate to them, has to be given to the appointment after theirs.
GOOD LUCK!

[Sheri Smith]

I like that approach. I am going to try that one too. Most of my clients are 80 yrs plus and they want to sit and chat after the closing (lonely I guess) and once they have signed, I would really like to get out of there. I usually use the "I have to get this to FEDEX right away or it won't get there in time" line.

[CYNTHIA ALABI]

You have to keep in mind you are notarizing for the signing co on behalf of the Title Co. The client should be at the title co to sign docs with the closing agent to explain all aspects of the loan. So you would want to collect from the Title Co. Their the ones who hire the signing co to get to you. The LO's explain the loan process and type of loan up until it gets approved and clear to close. All fees, etc.. are tacted on and added at the title co. I've worked all positions and really no one's to blame for some of the attitudes a client will take at the last moment to hold out thinking they can get a better rate or fees changed to close the deal

[Darlene Prather]

I agree...I would ask for more money too...I've been in situations like that before. What ends up happening is you are doing the Loan Officer's job, so that means you should get the Loan Office's pay. We both know they make a WHOLE lot more money that we do. PLUS, you are helping save the deal by taking the time to explain everything. That 4 hours you spent w/the client should have been done in advance by the LO. Go for it. ASK for more Ca$h!!! Good Luck!

[Pamela Montez]

I tell the borrowers they have ONE hour to sign or not sign. I explain and go over the high points of the loan, and stress the fact they have 3 days in which to cancel. I had a borrower last night who wanted to read everything and I told him he has ONE hour of my time, and not a minute more.
Oh yea.. then he wanted to know how to get into this business. My reply? I am not ready to retire yet, and it costs about $3500.00 to get started. That stops that conversation!

[william]

i never set a time for a closing, that is unfair to the customer and the loan officer, remember he pays your check. you lose him the deal and he will remember you. all my business is repeat by request because the l.o. knows how i treat their customers. it takes forever to build a business and only a couple of rude remarks to tear it down. appreciate what you have and take care of the l.o.'s. and as far as the three day recission, i hate that phrase, and never resort to that. if the customer recends i didnt do my job explaining the loan. remember there is always another eager notary waiting to take your place. good luck.

[Dena Anderson]

Cliff: I say...ask for the extra cash for your time...we all know the worse thing they can say is no. You did save the deal and personally, I am not a night owl, so by 10:00, if it were me at the signing, I would have taken up in the guest room and finished the signing in the morning. :0)