reverse mortgage: Reverse Mortgage closings: the borrower's comfort - 01/07/09 02:58 PM
I got a call this morning to do a Reverse Mortgage closing. No problem. I have a lot of experience with reverse mortgages.
Out of that experience I have learned that, because of the age of the reverse mortgage borrowers, there are certain things that I want to keep in mind.
Of primary concern is their comfort. It's difficult enough for most borrowers to sit through the many loan documents that need to be signed in a closing. But it can be even more difficult for the elderly. I make it a point to tell the borrower to feel free to … (2 comments)
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reverse mortgage: Microsoft OneNote for Notary Signing Agents - 12/28/08 05:37 AM
Microsoft OneNote is a great tool for organizing all types of notes and information, regardless of your occupation. I had already been using it for organizing personal information, then decided to create workbooks for my Notary Signing Agent information.
The beauty of OneNote is that it is simple to use, yet powerful.
This is how a workbook appears on the screen.
To the left you have tabs for all of the workbooks you've created. At the top are the sections in the workbook. To the right are the pages for each section. It's like having a 'table of contents' at … (2 comments)
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reverse mortgage: Notary Signing Agents can expect an increase in Reverse Mortgage closing assignments - 10/22/08 03:26 PM
I received an email this morning that can be interpreted as an increase in closing assignments for Notary Signing Agents who do Reverse Mortgage closings:
It states that Reverse Mortgage originations rose 4.2% in 2008, and that there are market signs for continued growth in 2009.
Notary Signing Agents play a key role in the Reverse Mortgage process. In addition to assisting with the Reverse Mortgage application, we provide an added convenience to the borrower when it comes time to sign the Reverse Mortgage loan documents by enabling the borrower to sign their documents wherever it is most convenient for them … (1 comments)
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reverse mortgage: Reverse Mortgage Application: the role of the Notary Signing Agent - 10/14/08 07:41 AM
One of the primary reasons for utilizing Notary Signing Agents is to provide a convenience to the borrower. We make it possible for the borrower to sign their loan documents wherever it is most convenient for them. This can be practically anywhere, but it is usually in the comfort of their own home. This is especially beneficial for Reverse Mortgage borrowers.
Notary signing agents have always played a significant role in the Reverse Mortgage process when it comes time for the borrowers to sign their loan documents. We print the documents, take them to the borrower, get the required signatures, then … (3 comments)
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reverse mortgage: Reverse Mortgage opportunities for NSAs - 04/07/08 03:29 PM
I just wanted to share with you the subject of a phone call that I received today from a mortgage company in Florida. The caller said that he saw on my website that I had undergone the Reverse Mortgage Counselor training, and wanted me to counsel someone, and also do the closing.
Unfortunately I had to decline to provide the counseling, but could do the Reverse Mortgage closing.
Completing the training is one thing. But in order to provide the counseling you have to pass an exam and become certified. And in order to do that, you have to work for a company that provides … (0 comments)
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reverse mortgage: Reverse Mortgage Counselor training - 02/17/08 03:09 PM
Continuing education is something that we should always pursue as professionals. A notary signing agent can never have too much knowledge, or too many skills. We may never use some of the knowledge or skills we gain, but they are still good to have.
Reverse Mortgage Counselor training is a type of training that falls into that category. Notary Signing Agents do not need to be trained as Reverse Mortgage counselors. It is not our role to give counseling or advice to the borrower. The borrowers have already been well-counseled. Our responsibility in a Reverse Mortgage closing is to get the loan … (0 comments)
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reverse mortgage: Sub-freezing weather, and the 70-year old man was wearing a t-shirt to the closing - 12/16/07 07:01 AM
With the wind chill factor it felt like 6 degrees outside. This is what it looked like in Pueblo West, Colorado on Saturday morning. Frigid cold and icy roads:
The only top that he wore to his Reverse Mortgage closing was a t-shirt. No coat. No hat. No gloves.
Is he crazy?
No. He was actually quite warm. Why shouldn't he be? He was signing his loan documents in the warmth and comfort of his own home.
Senior citizens who are taking out a Reverse Mortgage should not have to leave their homes in winter, and endure sub-freezing temperatures to do the signing of … (1 comments)
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reverse mortgage: Amount of time required for Reverse Mortgage closings - 12/04/07 06:52 PM
Reverse Mortgage closings are really not much different than conventional loans with regards to how long they can take. Either one can be short or long, depending on the borrowers, the situation, etc. Nevertheless, I always allow what I consider to be more than enough time.
I received a call to do a closing on Monday. It was a refinance. The borrowers already had the documents. They were delivered to them via FedEx. All I had to do was arrange a time for the closing with the borrower. I also had a reverse mortgage closing that day. It was scheduled for 11 … (2 comments)
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reverse mortgage: Preparation for a Reverse Mortgage closing - 12/04/07 06:49 AM
All borrowers deserve the red carpet treatment.
But when I'm doing a Reverse Mortgage closing, I think about my mother, and how I would like for her to be treated if she were the borrower. And so I give reverse mortgage clients what I call, the 'Gold Carpet' treatment.
It's apparent, even in the binder clips that I use.
Preparation is where it begins.
For me, these closings are special. The lenders and title companies understand that too. I received the documents and had them printed last Friday -- 3 days ago. No 'last-minute' rush jobs here.
Peace of mind for the borrower, and … (1 comments)
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reverse mortgage: I am guilty of reverse mortgage discrimination - 11/30/07 07:51 PM
I will admit it. I discriminate. I try to treat all borrowers equally when I'm given a closing assignment. But I treat people who get reverse mortgages differently.
I'm scheduled to do a reverse mortgage closing on Monday morning. The title company called me tonight to let me know that they were sending the loan documents over in my email. I have them printed out already.
I spoke with the borrower to confirm the appointment. To my delight, her loan officer will be there. He will be able to answer any specific questions about her loan that she might have. Otherwise I … (3 comments)
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reverse mortgage: reverse mortgage articles used by another site - 11/25/07 02:52 AM
I discovered over the weekend that someone has taken one of my topics and put it on their website, without asking me. This is my topic on a reverse mortgage closing that I wrote (A Reverse Mortgage, and a gourmet burger to go, please):
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As you can see, the same topic appears on another site. But notice who the author is:
It is credited to 'Colorado reverse mortgage'. The name of the website is Rapid Reverse Mortgage. Of course, if you click on the link it will take you to the topic on ActiveRain. But I don't like the idea of someone doing … (9 comments)
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reverse mortgage: Reverse Mortgage training for notary signing agents. - 09/25/07 12:33 PM
I'm not going to pretend to be an expert on reverse mortgages. Nor will I try to lead you to believe that what is in this topic constitutes any type of "training" at all. Quite the contrary. There is no special "training" that notary signing agents need to do reverse mortgages. At least that is my opinion.
What prompted me to write this topic is an email that I received this morning. The first line of the message states:
"The only growth in loan closings is in Reverse Mortgages"
I do believe that there will be a lot of growth in reverse mortgages. I … (10 comments)
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reverse mortgage: A Reverse Mortgage, and a gourmet burger to go, please. - 09/16/07 01:41 AM
I have recognized for a long time the significant role that notary signing agents can play in reverse mortgage transactions. A good example of this was a reverse mortgage closing I was assigned to do on Friday.
I got a call last Thursday from a title company in California to do a reverse mortgage closing on Friday at 1 p.m.. The location was a Red Robin Gourmet Burgers restaurant here in Colorado Springs. Why Red Robin, of all places? Because that is where the borrower wanted to sign the loan documents. It was her choice. She could have signed them at home, … (0 comments)
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reverse mortgage: Reverse mortgage borrowers' needs: rewriting our job description - 05/21/07 08:25 PM
I did a reverse mortgage closing this evening for an elderly woman who doesn't get around very well. She has to use a walker. To make it comfortable for her, she sat back in her recliner. I pulled up a chair and sat beside her. I laid my notary journal in my lap so I could keep the papers in order.
She was a very talkative person. I didn't say much because I needed to focus. But I was listening. At one point a plane flew overhead and she said it reminded her of the bombings during the war. All I could think … (2 comments)
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