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January 22, 2017

How long does it take to get through a signing?

Filed under: Best Practices — Tags: , — admin @ 11:52 pm

Most Notaries allow around an hour for a signing. But, for a HELOC, Reverse Mortgage, or other longer packages, the timing can be unpredictable.

I did a huge construction loan for someone. I was in and out in 20 minutes with a 180 page package. He was a business professional and knew the drill. He didn’t read. He just signed. There are others who read all day at your expense.

One Notary claimed her average signing is 45 minutes. But, it depends on the lender and the type of package, type of borrower, number of pages, etc. Another Notary on Linked In claimed 45 minutes to an hour. A third Notary claimed 45 minutes as well. A forth Notary kept track of her signings over the course of a year and came up with the figure or 45-75 minutes unless there are multiple signers in which case it might take 15 or more minutes longer.

Older clients (the kind that leave their left blinker on for half an hour in Florida) might need 90 minutes for a signing. They can barely see their pen, so how can they possibly know what they are signing?

Summary
The considerations for how long a package will take to complete should be thought about in this order.

Age
Age determines how long a package will take to complete more than any other factor. Elderly people cannot see well, can’t hold a pen well sometimes, and get very tired. Allow a lot of extra time for Reverse Mortgages, Hospital signings, etc.

Experience
Professional businessmen can get in and out of a signing quickly, unless they make you wait for their busy partner to arrive which might take an additional ninety minutes without waiting time unless you negotiate well.

# of Signers
If you have five signers, you might be there for a while. They will have more bathroom breaks, more showing up late, and if even one doesn’t have proper ID, that throws the whole game off.

# of Pages
A fast signer can get through a long package quickly. But, a “reader” will take forever. The type of sign(er) is more important than the type of sign(ing) as a professional signer can whip through a 300 page loan faster than a nit-picky suspicious “reader” can get through an 80 page signing, especially if they have to call their lender.

Prepared Lender
If the Lender on the loan prepares his borrowers well, the signing will go fast. But, what if you get a Lender who waits until the last minute to fill in the blanks. You will be at the signing over an hour with a Lender like that. I had a best client who never prepared his borrowers well. The money was not bad, but they really took advantage of my time. Most Lenders have a few screws loose, and the Notary is the one who pays for that.

# of Notarizations
I was a fast Notary and could do 11 notarizations for two people = 22 notarizations in less than half an hour. But, it is a lot faster to do one notarization especially if the signer whips out their ID quickly (use a stopwatch for measuring that.)

Ending Joke
Here is a Maine joke for you guys.

TEXAS NOTARY: I once had a signing so big it took me three hours to complete

MAINE NOTARY: A-yup, I once had a printer like that

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July 9, 2016

Global Notary

Many Notaries have done jobs for Global Notary. But, what are they saying?
http://www.123notary.com/forum/topic.asp?TOPIC_ID=2517

lsaversl
“Just got a call from Global Notary-print 2 sets (150 each), drive 50 miles round trip, fax back 150 docks, for a whopping $30.00-I was about to tell them (are you insane), but just said I was very booked up.”

Minnesota7
“I completed some 15 closings up here in northern Minnesota for Global because they had no choice but to pay my travel fees. Only 2 or 3 travel where we go. In town I refused their starting fee $40. I would burst out laughing. My problem was they would call and ask if I was going to be on time, every closing. The last two they actually called the borrowers to see if I was there. Some snot nose brat called me from global and said don’t take it personal, they do that to all notaries. I asked for the home phone number to the Owner of Global so I could call him or her every morning at 4am and ask them if they were going to be on time for work that day. Now I have received 3 different 1099’s from them. They need professional help. I got along ok with one scheduler but I told him to see to it that they take me out of their system and don’t ever call again. Plenty of good companies still out there. MN7”

Joelbenedict
“I made an error in the date of the borrower certification. I then scanned 201 docs back without catching my error. Global Notary sent me an email giving approval to drop the docs. I called the next day to confirm that I had approval. I dropped the docs. Four days later, Global Notary contacts me to notify me that there was an error in the borrower certification and that Old Republic (the title company) had rejected it. I completed an acknowledgement, scanned it back to Global Notary, cc’d Old Republic. Two days later, Old Republic approved the acknowledgment and Global Notary told me to overnight the acknowledgment at my own expense or for a $20 reduction in my fee. I didn’t have my notary stamp or the document at home–this was six days after the signing. I printed another copy of the acknowledgment, filled it out by hand, and faxed it to Global Notary. I paid for the label online through USPS’ website. It cost $18.11 to Express mail it flat rate. 10-24 minutes later, Global Notary called me to tell me that Old Republic likely wouldn’t approve the handwritten copy. I griped to corrections about their not catching the mistake in either of the two approvals and expecting me to take the expense hit.

Their response was that they do what they can. I couldn’t get them to budge on any kind of action to prevent it from happening again, or even that they had made a mistake in not catching my mistake. The day after, Global Notary contacted me to tell me I’d have to ship the acknowledgment that was approved on day four because Old Republic had rejected it. I went over Global Notary’s heads and called Old Republic; I told Old Republic Title the same thing I’d told Global Notary, that Kentucky doesn’t require notary stamps, our signature and serial numbers are considered our seal; Old Republic said that the lender had rejected it. I had the approved acknowledgment with me this time; I paid for the shipping and put it in a box (a non-USPS flat-rate regular cardboard box). It cost $16.99. Now I’ve got to wait and see if there’s any more noise with this signing. I took it for $85, printed out 422 pages of docs, drove 26 miles total, have put at least 11 hours into this signing, and took a $35.10 hit in expenses. This is probably my sixth signing with Global Notary, but this one has been a poor experience. The other signings I got for $60-70.”

M.Quednau
“Never leave your fax machine unattended before it is finished. Just because a borrower “thinks” he knows what he is doing you ALWAYS check for errors. Always ask about fax backs before you agree on a price taking that into consideration before you agree to do the signing. Sounds like you should have been more proactive in checking for mistakes and making sure the fax went through and if the fax didn’t go through wait till you come back after the holiday (since it was only one day) and tried again to fax. Global pays on a timely basis. If I were you I would rethink working for them again if they were willing to pay your price. I think all the calls are because one hand doesn’t know what the other is doing. None the less it is very annoying. ”

NotaryMark
“I am aware that Global Notary Inc are low ballers, however their tactics and fees have finally become preposterous.

Yesterday I was called for a Mortgage signing, i verified it was a normal signing on the phone, then verified there was about a twenty page fax back, ok I said for $75. Yes thats low but it was close to where I live and a quick return.

HOWEVER…on documents arrival I find that the fax back is nearly fifty pages and this is a refinance where the total pages of documents are 187! So that would be X2 prints 374pgs and a fax back!!

Unfortunately I had to cancel this appointment because of a family crisis, sudden and unexpected”

.

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The 90 days no payment list of signing companies
http://blog.123notary.com/?p=15887

The met my fee list of signing companies
http://blog.123notary.com/?p=16979

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March 30, 2016

30 minute Islamic prayer break at a signing & other stories.

Filed under: General Stories — Tags: , — admin @ 11:56 am

30 minute Islamic prayer break
I also had a signing that was very unusual. I arrived at the home of a Muslim man who had asked me to take my shoes off before entering the house. I told him that I honestly was not comfortable with that, so he brought a small table and we placed it just outside the entrance so that we could do the signing there. He sat just inside the house, and I sat just outside the door. Then suddenly in the middle of the signing, he excused himself and got up and left to do his prayers for a half hour, and then returned back to the table to me to do the closing. It was the first time I had ever experienced anything like that. The signing took longer but we got it done in unusual circumstances.

Running to the bank to get a cashier’s check
I had a signing to do a someone’s house and when I arrived, the man realized that he didn’t have the money that was due on the HUD and had to run to the bank to get a cashier’s check. He actually asked me to watch his 3 kids while I ran to do that. I declined immediately as I didn’t know him or his kids, and felt that he was being presumptuous about asking me to watch his children. We rescheduled the signing.

The drunken wife
I had an assignment in Princeton, NJ once involving a couple who was in the process of divorcing. The wife arrived at the signing completely drunk and uncooperative. I think she did this on purpose to both embarrass the husband and to prevent things from moving forward. She definitely had succeeded in producing the desired effect on her spouse. Her husband was mortified and kept apologizing over and over for her behavior. He was so embarrassed. She was completely non-compliant. She didn’t want to do it at all and in the end she succeeded. We didn’t go through with the signing and had to reschedule.

The foul-mouthed tipsy man
I had a mortgage signing with the most foul-mouthed man I had ever met. He was tipsy, but not drunk. He asked so many questions about the mortgage loan and was swearing like a sailor. He was clearly under the influence and I could smell the alcohol on his breath. It was not in any way, shape, or form, a pleasant experience. I couldn’t wait to get out of there and get some fresh air! I almost left the closing but managed to get through it. It was the most unpleasant experience I had ever had.

Half naked in the hospital
I had a most, er, interesting and rather inappropriate signing. I had to do a power of attorney at a home and when I arrived, a younger man, the patient’s son, met me at the door and explained that his father was hot. However, he did not explain to me as I entered the room that his father lying on a hospital bed was naked from the waist down. I was trying really hard to not look down and keep a straight face which was rather hard. He was really sick and it was all I could do to just focus on the task and ignore the inappropriateness of the situation in front of me. The man himself was not fully coherent, and the son made no moves to cover him up for my sake which I found shocking. At that moment, his sister came out of the kitchen and immediately started attacking me with questions. ” Who are you?” and “What are you doing here?” and “You don’t need to be here.” She told her father not to sign and then picked up her phone. Then another woman came out fromt he kitchen – the one who had hired me. She simply looked at me, handed me the docs, and went back into the kitchen without saying a word. So I just stood there for a moment taking the entire situation in. A minute later, she came back out and and asked, ” Do you want him covered?” Of course, I’m thinking, don’t you think so? But I said yes and thankfully she did cover him with a light blanket. Meanwhile the sister was going off, saying to her father, ” Dad, don’t sign! They’re up to no good!” He was only semi-conscious but was replying back to her saying, ” I know what I want!” I felt bad for everyone in the entire situation. The woman who had hired me had lied about him being fully coherent so I just left without doing the signing. I was just shocked and appalled and sad for the entire family. What a mess. Thankfully they never called me back to reschedule after that.

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A talk with an Angel
http://blog.123notary.com/?p=16608

Jesus the Notary
http://blog.123notary.com/?p=16518

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