Free Loan Signing Videos

NotaryGift.com is a great place to review free videos of the most common documents in the loan signing process. Whether you a new or seasoned loan signing agent or a borrower about to signing loan documents these videos are quite helpful.

The 25 videos are listed on the home page on the left-hand side.

Nothing like free stuff, enjoy!

Fax Backs Can be a Pain!

As a notary, you'll have the greatest opportunity to earn income working as a Loan Signing Agent, and after four years in this profession I have gotten used to many things - last minute signings, e-docs (loan docs that are electronically transmitted so that you can print them), keeping a smile on your face when in front of a difficult borrower, etc. But one thing that I still do not like are fax backs!

This is when the company that has contracted you requires you to fax back a portion of the loan documents after the signing for their review. I know it is a necessary evil in some instances but when I have to fax back 20 pages and more I am a little irritated.

I mean what are they doing with all this extra paper?! You are overnighting the documents back to them so what is the big deal.

I could understand if they were asking for just the notarized documents to review so they can catch any errors early but I just faxed over 50 pages for a Countrywide loan and only three of the pages were notarized! Faxing that many pages took more than 30 minutes.

Thankfully, this does not happen all of the time or I would be pulling my hair out.

Mortgage Loan Officers - Customer Service 101

"The only foundation of real business is service."

Henry Ford (1863-1947)
American industrialist, inventor

Correct me if I'm wrong, but mortgage loan officers stand to make a pretty sizable commission when their loans fund so why do many deliver such poor customer service?

One simple thing that can make a difference between a client signing and not signing their loan documents is the ability to get their questions answered in a timely manner.

The Notary Signing Agent may be the only person the borrowers meet in person during the loan qualification process. We are neutral parties in the transaction; we represent neither the lender nor the loan officer. If a borrower has a question we are allowed to answer the "what" but not the "why" so that is why it's so important that borrowers are able to get their questions answered once they are at the signing table.

Below are two real life examples:

Scenario#1 - How the process should go:

I arrive at the borrower's home with loan documents in hand. The loan officer has spoken with the borrower prior to my arrival. He has answered all of the borrower's questions so that when I arrive the borrower is comfortable with signing the loan documents and I am out of there in less than an hour.

Scenario #2 - How the process should not go:

I arrive at the borrower's home with loan documents in hand. The borrowers are a very nice elderly couple attempting to refinance a home that will be purchased by their daughter in six months. The borrowers are completely unhappy because they have been going through this process for three months and this is the second time a notary has been out to their home.

The first set of documents had a higher percentage rate than they were quoted, included a prepayment penalty (which wasn't going to work since the daughter was going to be refinancing the property in her name in six months), had a mysterious $100 fee for local officials, and to top it all off their loan officer is hardly available and doesn't return phone calls.

Now this new set of loan documents again has errors, and as usual they are unable to get in contact with their loan officer. When they spoke with him last night he said he would be in the office by 9:30 a.m. but it was now 10 a.m. and he was no where to be found, so let's just say they were a little upset.

The borrowers are not willing to sign and they can't speak with their loan officer so there is nothing left for me to do. I tell them it was a pleasure meeting them and I'm out the door. I get a call about an hour later from the borrowers who have finally spoken with someone who could put them at ease so they are ready to sign. I will have to make a return trip later today.

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Scenario #2 is an ordeal that could have easily been avoided. In my experience if the borrowers are able to get their questions answered and made to feel comfortable then things will go smoothly.

I think the above quote from Henry Ford aptly states what we as real estate professionals should be striving to deliver. Quality customer service is what our businesses should be based on to guarantee repeat business and referrals.