Expiring rate lock leaves little room for error over 3-day weekend


Last week I got a call for a refinance signing in Coronado. The lender was concerned about the closing process because there was an expiring rate lock on the note. This particular lender has very strict policies on how their notes are to be signed and how corrections are to be made, so the closing had to be flawless. The signing was to take place over the MLK weekend, and the rate lock expired on Tuesday. The signing was set for Saturday, so this meant if I screwed anything up during the signing process, there wouldn’t be enough time to redraw and sign new documents before the rate lock expired. If the borrowers lost their rate, it could cost them thousands of dollars over the life of the loan. The smallest mistake could result in a lot of liability for everyone involved.

I arranged to get the documents by noon the day before, giving me plenty of time to look them over before the signing. We agreed that I would bring my laptop and high speed scanner to the signing appointment and that they would be on standby to receive and review the documents. I was able to upload the entire 175 page document while still at the signing table, allowing both the lender and the escrow company to review them in real time.

The signing went perfectly and the lender received the completed documents on time. This type of signing are what I enjoy most about being a San Diego notary. Every day there is a different problem to solve with sometimes serious consequences. I enjoy the attention to detail and methodical procedures this job requires.

If you need a notary signing agent in San Diego County, please call 619 731-0878 or request your San Diego notary online.