Let them stay at home!

I had just come back from doing an eSigning. I changed clothes and was ready to go to the gym when I got a call from a title company in Colorado.  The escrow officer wanted me to do a closing that afternoon at one of the branch offices in Colorado Springs.  It was extremely short notice.

After I printed the loan documents I noticed that the borrowers lived in Fountain, which is south of Colorado Springs.  They would spend a half an hour driving 23 miles to get to the title company.  Not only that, but they had an infant and 2 other children that they were going to leave with a babysitter.

It wasn't necessary to go through all that trouble.

I called the borrower and spoke with the Mrs.  I told her that I would be more than glad to come to them with the loan documents.  It was a concept that was completely foreign to them -- doing the closing in their home.  But it was possible, I assured her.  She agreed, and was thankful.  I called the title company and told the escrow officer that I was going to do the closing at the borrower's home instead.  She was extremely grateful and happy that I was able to provide that service to the client.  She also agreed, and added that she would call me to do more remote closings.

Everything went smoothly.  I was able to answer all of the borrower's questions, including some questions the husband had about the HUD Settlement Statement.  At no time did they feel disadvantaged because they weren't at the title company. 

They weren't able to make photocopies of their IDs. No  problem. I used my digital camera to make photos of their IDs. When I got back to my office I emailed the photos to the title company.  I would have printed them out, but I was in a rush to get the package dropped off at the UPS Center so that it would reach the title company on Monday.

It amazes me that the borrowers were going to have to go through so much of an inconvenience to do their closing.  Instead, they were able to do it in the comfort of their home. 

And that's the way it should be.  Send a notary signing agent to them and let them stay at home!

I had the opportunity to do an eSigning (eClosing) this morning in Colorado Springs.  There were still several paper documents that needed to be signed the traditional way, but hopefully we will see the scales tip more and more towards a complete electronic signing someday.

As suggested by the lender, I started the closing with the signing of the paper documents.  That allowed us to get all of the paper off the table, and for me to put my notary stamp back in my briefcase before proceeding with the electronic documents.

With the table cleared of everything except my laptop computer, modem, and mouse, we were ready to begin the eSigning portion of the closing.  I set up my computer at the very beginning of the closing, turned it on and gained access to the internet in order to save time.  All that I needed to do was log in to the website that contained the electronic documents.

It's a very simple process. The borrower clicks on a tab for the document they wish to view, scrolls to the end of it, then clicks a button that enables them to sign the document electronically.  The advantage to this is that they don't have to write their name out repeatedly.  The disadvantage is that the borrower might have trouble reading the entire document on a computer screen.  There are some who actually do read everything.  But for the most part it's a very convenient way to sign loan documents.

Once the borrower had signed all of the documents, I ended the session by entering my name as the closer.  A screen appears indicating that the signing was successfully done. 

After that I provided the borrower with a copy of all the digital documents that she signed.  I had a memory stick with me that I copied the files to. The borrower transferred the files from the memory stick to her computer.  I could have also saved them to CD ROM or printed them out and given them to her as hard copies.

Unfortunately eSignings cannot be used for the type of closing where they would be appreciated the most -- when the borrower has to sign with a Power of Attorney.  It would really be nice if they didn't have to do all of that extra signing.

I'm glad I took the time to do some tests of my equipment before accepting any eSigning assignments.  I use my Palm Treo smartphone as a modem. Establishing a connection with the internet was no problem.  The borrower appeared to like signing the documents electronically. Everything went smooothly.

'I won't even go out of the house for less than $X.', proclaim many notary signing agents.

It's good to have your fees set, and to 'stick to your guns'.  But at the same time, I believe that a certain amount of flexibility is required.

I have established my fees too.  But I'm willing to work for less.  Just a few days ago I did a SMART loan closing for a signing company.  I know the limit to what they will pay.  It's less than my normal fee. But they are a reputable company with good clients.  I have never had any problems getting paid from them.  I will never turn them down if I'm available.

This isn't to say that you should accept any fee that is offered.  There are some companies that should be put out of business because of the low fees that they offer notary signing agents.  No one should be asked to do a closing for $40. 

But there are many good companies out there that are limited to what they can pay.  The fees they offer are not great, but it's the best they can do.

The primary goal of notary signing agents who have made this a full time business is to make a decent living.  We don't expect to get rich, but we want to make enough to pay our living expenses. 

Our goal is also to provide a service. 

In many respects it's a service that you can't put a price on.  For example, doing a Reverse Mortgage closing for an elderly couple that is unable to leave the house -- that is an invaluable service.  A notary signing agent shouldn't refuse to do the closing, just because it's less than their normal fee.  Yes, there are limits to how low one should go.  But if the fee is reasonable, and it's all that the company can afford to pay, then accept the assignment.

Because being a notary signing agent isn't just about how much you can get.  It's also about how much you can give.

Good luck.

That's a question that I routinely ask when I accept a closing assignment.  You might be asking, 'What difference does it make what type of loan it is?'

It means a lot.

In the past I would tell the borrower to provide a photocopy of their drivers license.  That was the only form of identification required for most loans.  And some companies didn't even require a copy of that.

But FHA loans have a special requirement:  a photocopy of the Social Security card:

We've all been in the situation where we know very little about the loan, and are given few instructions from the company hiring us.  We make the confirmation call to the borrower.  Then shortly before the closing, we receive the loan documents with a laundry list of instructions.  And if it's an FHA loan, one of the instructions is to get a copy of the borrower's social security card. 'Now you tell me.'

So I always find out if it's an FHA loan so I can let the borrower know that they will need to make a photocopy of it.  Not everyone has a photocopier in their home. It facilitates the processing of the borrower's loan and makes things go more smoothly for all of the parties involved.

It only takes a second to ask.

Good luck.

The people I met yesterday had a dilema. They had title documents that needed to be notarized.  Both the husband and the wife work, so it was impossible for them to appear before a notary at the same time until each had gotten off of work.

I was watching the Democratic National Convention when I got the call.  It was around 5 PM.  The husband asked me how late I'm open.  I told him that I'm on call 24 hours a day, and that I'm a mobile notary.  All the better. That was exactly what he needed -- a notary who was flexible, and who could come to their home.

I was just about to eat dinner when he called. But I agreed to come to his home as soon as possible.  We set the appointment for 6 PM.  Dinner would have to wait.

There were only three documents that needed to be notarized.  The signers were extremely grateful that I was able to come to their home to do it, because they couldn't imagine where they would find a notary who was available at 6 PM.

As I was writing the receipt for notary service, the wife was explaining how difficult it would have been if there was no such thing as a mobile notary.  She asked:

'What's a working person to do?'

That's why there is such a thing as a mobile notary.

"Do you notarize wills?"

That was the question asked of me when I answered the phone a couple of days ago.  I was thinking to myself, 'Of course I notarize wills. I'm a notary.'

Why not notarize a Last Will and Testament?

The person told me that his bank would not notarize his will.  Perhaps it had something to do with 'liability'.  At least that's the explanation the person gave me when I asked him why his bank wouldn't notarize it.

A Last Will and Testament is indeed a serious legal document.  But that is no reason for a notary to refuse to notarize it.  If the notary knows what to do, then there should not be a problem.  And this Last Will and Testament was prepared by the person's attorney.

The first thing I told the person was, 'Yes, I notarize wills.'  I told him that witnesses would be required, and that all of the parties would have to have valid identification.  I also told him that I would not be able to assist him in any way with the signing of the will, or give him any legal advice.  He understood.

When I arrived he had everything prepared.  He also had his two witnesses. Everything went smoothly.  He also had two Power of Attorney documents that he wanted notarized.

I can't speak for the bank as to why they would turn away one of their customers when it comes to notarizing a Last Will and Testament.  Perhaps it's the bank's policy.  All I can say is that, notarizing a Last Will and Testament is no different than notarizing any other document.  Make sure that the venue is correct, enter the notary commission expiration date, sign it and seal it.  The witnesses have to present for the signing at the time of the notarization -- not before, and not after. As to the contents of the Will -- as with any other document -- that is not the concern of the notary.

Good luck.

The importance of the confirmation call cannot be overstated.  It serves many purposes, and it is imperative that this call be made -- as soon as possible after receiving the closing confirmation.

Some of the reasons for making the confirmation call are:

• confirm the time and place of the closing with the borrower
• inform the borrower that they should provide a photocopy of their ID
• get directions, if necessary

There are many more reasons. Those are just a few.

Personally I like to make the confirmation call to briefly introduce myself.  If someone is going to show up at the borrower's front door, or place of work, then they want to have some idea who that person is.  This is especially important when you're dealing with older people who may be leery of answering their door.

Amazingly there are many schedulers who don't understand the importance of the confirmation call. You don't have to have experience doing loan closings to be a scheduler. If you've done this long enough, then you have no doubt been in a situation where you weren't able to reach the borrower, and the scheduler told you, 'Just go there. The borrower is expecting you.'  I don't believe in doing that -- just showing up at someone's front door.  I will either insist that someone give me a number where the borrower can be reached, or I will refuse to do the closing.  I have never gone to a closing unannounced, and I never will.  And for good reason. 

I was in a situation yesterday where I couldn't reach the borrower.  The scheduler told me to 'just go there'. What do they care?  Fortunately I was able to reach the borrower's wife an hour before the closing.  To my surprise, she told me that her husband is in Ireland. He has been there for two weeks.  Not only that, but he canceled the loan.

That is the importance of the confirmation call.  If I had 'just gone there', it would have been a wasted trip.  So keep that in mind the next time a scheduler tells you to 'just go there'. 

It's possible that the borrower is indeed expecting you.

Then again, the borrower may be out of the country.

Good luck.

Notary signing agents are supposed to be experienced with loan documents. It's what distinguishes us from someone who is 'just a notary'.  And we're supposed to be knowledgeable about which documents should be signed, how they should be signed, ... etc. 

Notary signing agents are also supposed to follow instructions -- to the letter.

But there are times when the instructions have to be questioned.  That is the situation I found myself in this afternoon.  In my instructions for the closing I have this evening, it gives instructions as to which documents the non-borrowing spouse is supposed to sign.

The title company wants the spouse to sign the Deed of Trust, Truth in Lending, and Right to Cancel.  No other documents are mentioned:

Nevertheless, an experienced notary signing agent knows that, if there are any Riders, they too should be signed by the non-borrowing spouse.  And when we check the Deed of Trust, we see that there is supposed to be a VA Rider:

There is indeed a VA Loan Rider included (and if there isn't, we need to inform someone!).

But instead of taking matters into ones own hands, it's still best to check with the title company.  After all, our first responsibility is to follow instructions.

I emailed the title company and got a response stating that they do want the spouse to sign the VA Loan Rider.

This is knowledge that is second nature to experienced notary signing agents.  But if you are relatively new to loan signings, it's something to keep in mind. 

Follow instructions.  But know the loan documents inside and out.  And don't hesitate to question the instructions you are given. It's better to have a set of loan documents that are properly signed, than to inconvenience the borrower. 

Because if a second trip has to be made, you will have to make it. And at your expense. But it might be the last time you work with that title company.

Good luck.

If you do closings long enough, you will inevitably start seeing familiar faces among the borrowers.  It usually works out well for both the borrower and the notary signing agent. 

But not always.

When you have a borrower who is difficult to deal with, you look forward to the moment when you can walk out the door and hopefully never see them again.  You chalk it up as a bad experience, then move forward. 

However, there is the chance that the borrower will refinance, and you will be called to do their closing. 

What should you do? 

Act professionally, of course.  You put everything from the last encounter in the back of your mind.  It's water under the bridge.  It's a new day.  Even if the borrower reminds you of something from the last closing, pretend that it wasn't an issue.

I was in such a situation a few months ago.  The borrower had several dogs.  They were running all over the place, trying to get into my briefcase, jumping up on the table, ... etc.  He eventually put them away when he realized that it was conflicting with what needed to be done.  The second time we met, he put the dogs away from the start.  But he was still a bit of a pain in the butt.  I remind myself that you can't do much about a person's personality.  They are who they are, and there isn't much that is going to change them.  So deal with it.

And then there are the pleasant reunions.

I have done a lot of closings for investors.  One of them was buying properties on a weekly basis.  And he would request that I do the closing.  He was a pleasant person.  And he was a fast signer -- a 'just hand me the papers and I'll sign them' type of person.

I had another one last night.  I immediately recognized the borrower's little girl, and she recognized me.  I gave her a notary sticker for embossing the last time.  It made her feel special. It looks like the kind of sticker that teachers give to their star pupils.  She asked me for one last night.  I gave her two.  And the borrower was a very pleasant person.  She too knew her way through the documents.  We got through over 130 pages in less than an hour.

And my guess is that there will be many more encounters with borrowers from the past.  Hopefully they will be pleasant ones.

Good luck.

Maybe.  Maybe not.

It all depends on your definition of "Closer".  And it definitely depends on what responsibilities you want to assign to the Closer.

If you are a Notary Signing Agent, then you probably answered that question with a resounding 'Yes! Absolutely!  I am the Closer.  And a darned good one.' 

Why should there be any reason to think otherwise?

One reason why you might not be so willing to call yourself the 'Closer' is that you may be asked to sign your name on a document, indicating that you were the Closer in a real estate closing.  That's usually not a problem.  But before you sign your name, read the document -- carefully.  Here is an example of such a document:
_______________________________________________________________

______________________________________________________________________

I was the 'Closer' last night.  But I didn't sign it.  I didn't sign it because it states: "... Closer has read and followed all closing instructions provided by the lender in connection with the above referenced loan."  And when you consider ALL of the closing instructions provided by the lender, that is a huge responsibility to take upon yourself, and to claim that you have done.

If the 'Closer' -- whoever that may be -- wants to call the borrower to ensure they received 2 copies of the Right to Cancel and a copy of the Truth in Lending before they sign it, that's up to them. Or they can call me and I will assure them that I provided the borrower with copies of those documents.  They can then proceed with all of the other instructions provided by the lender.

But I will never sign such a document.  And, in my opinion, neither should you.

Good luck.