I accepted a closing from Signature Closers. I like working with them but I had an issue with my last evenings appointment. ** I accepted a closing for a HELOC**…at least that is what I was told it would be. It was and it was not. I was sent the package and it had 98 pages so a 200 page package…Hmmm. I then reviewed the package and in reality it was a 1st mortgage and a Home Equity. So I closed two for the price of the Home Equity I agreed to close. If it was a Home Equity it would have been an in and out appointment and a few pages to print. Obviously a much longer appointment with MUCH more to print and present. If they would have quoted it as it really was I would have either asked for a higher fee or not taken the closing.
My question is do I bother saying anything to anyone. I like working with them but I don’t like being fooled.
Any input?
First - a question - 98 pages for TWO loans? (assuming by 200 page package you also mean borrowers’ copy). Are you SURE there were two loans? (not questioning your ability and don’t mean to offend - this just seems odd). Maybe I’m misunderstanding this part of your post.
Second question - why didn’t you contact Signature Closers when you reviewed the package and before you went out? That was your time to contact them and say “umm…we need to talk”.
IMO if you went ahead and did the signing anyway…that’s on you. I suppose it wouldn’t hurt to talk to someone there about it - I know they’re very easy to talk to - but before the fact would have been the time. Honestly, I think they’ll be fair with you - they’re one of the best SS out there…
Good luck
I received the docs right before I needed to leave. A little late to be talking price and YES, there were two loans! approximately 200 pages. One copy for the lender and one for the borrower.
I did not really realize there two until I was reviewing the copy with the clients. I had enough time to review names and dates before I ran out the door.
I understand, it is on me but I also want them to realize what happened.
I like working with Signature Closers is why I am asking for input of what others would do. I do not want to screw up a good relationship.
For anyone reading this post…I ended up calling Signature Closers and I was told that they were not aware this was two loan closing and it would have been ok with them if I would have even emailed after the closing to tell them and they would have renegotiated the fee with the title company…so if anyone runs into this you will know what to do.
I did not realize I could renegotiate after the fact but it has to be done before the file is closed.
Many companies you can’t negotiate after the fact - they put you in a “gotcha!” position…So glad Signature doesn’t work that way - I have a lot of respect for those folks.
I know right?!! I really like working with them. always nice and helpful. I did not expect to hear they would have renegotiated for me right up until the time I reported the file closed.
I never would have backed out and not completed the signing either way. I just wanted them to be aware of what happened. I will know to ask next time Res Title is involved.
You can always renegotiate that signature closers to increase your fee, citing the facts discovered after obtaining the loan package. There’s a catch to it… you go to ask for a higher fee and receive confirmation before the closing, not after the closing.
When orders are signing request come to be done within the same day or within a few hours, I straight-up ask for my higher fee which is usually $150 flat.
If they can’t find another notary, I usually get the job.
Package size, number of signers, time of the day that will require excessive commute or all factors that I use to justify the request in fee increase.
So it’s up to you to take it or leave it
Notwithstanding I think she was “fooled”, I agree with Linda that once you received the documents and it was not as represented, it was time to phone them prior to phoning to confirm the appointment with the borrower(s). I have renegotiated upon what was actually received and either increased my fee or told them I would pass this one due to it not being as represented. Most of the time however the signing agency is receptive to increasing the fee–they likely did not know either that it was two loans or had increased to 200 pages from 98. My fee is agreed upon with the understanding of a fee quote for a certain max number of pages. So if this one had doubled, my fee would certainly be higher…
You are likely too late now that the signing is over. Handle it differently next time…
I work with Signature Closers for years, they are a good company. I read what happen to you, the best thing is to let them know that I accepted this closing based on the information that was giving to me at the time. I just received the packet it is a HELOC and a refinance . I need a new confirmation for the additional paper work and the refinance . Set a fair price , and wait for the increase you deserve to have. If you don’t protect your business it will be difficult to stay in business. Know your value. I hope this help you moving forward.
Happy Signing !!!
Hi!
You should tell them, I had the same issue and I sent them an email stating the situation and the actual rate for the work requested.
Love Signature Closers. Signings good, fees good, pay fast and easy to communicate with.