So is it just me or are others running into this problem? You have a closing scheduled for after 5pm on any given day and when you run into a problem, there is no one to reach. I have even had a company respond to an email stating, and I quote, “We do not have anyone available for after hour’s questions.” Do we continue on with the signing and make calls on our own, which I have always been informed we are not permitted to do. Or do we stop the signing there, apologize to the signer, and do not finish the task that we are assigned? What do you guys do?
I guess it would depend on how critical the issue with the documents is; if there are major errors within the documents (like names wrong, someone on the loan who is not supposed to be, wrong property or wrong loan amount, etc) then I would leave it up to borrowers on whether to sign or not. IMO based on what you’ve posted, if it’s a refinance, I would continue on with the signing (if signers are willing) , reminding them they have 3 days to rescind the loan if their questions are not answered by their LO or they are not satisfied with what the LO says. I would rather provide a signed loan package than risk a rate loss. I also let them know that if they do not sign now and change their mind tomorrow I cannot come back out as the documents would be stale and a redraw and reschedule would most likely be required. (From past experience, I know some lenders charge the borrowers for that redraw - or at least they used to - but I wouldn’t share that knowledge with signers).
Anytime you accept a signing that occurs after 5:00 pm, make certain that you have an after hours hotline number listed in your packet instructions to contact just in case. If you don’t see one, contact your scheduler and request a contact number. Often times it will be the title company contact who is more than willing to provide you with a cell number, if needed. They want the signing to go smoothly and to be completed on time as well.
All of these are good suggestions however, if the is, for example, a wrong name or initial making impossible for us to notarize then that is not something we can move forward with and we are not supposed to change the docs without approval. Those are not issues we can just tell them to sign and move forward on. We can’t complete the assignment as is. My big frustration is the early Signings with Title on the west coast that’s not even out of bed yet.