Don't You Hate it When...

[ScreamingMeemie]

another company is supposedly brought in to help process your job more smoothly and they only end up making things worse?

I do appraisal work for a major bank (who won't be named but they just merged with another major bank) and they decided to bring in a third party to process reports. If it ain't broke don't fix it.

Every damned report I have sent in has gotten hung up for some reason another. The property is located in Grosse Pointe Woods, they demand that the report says Grosse Pointe (even though that's an entirely different neighborhood). They say the invoice wasn't attached. What appraiser is not going to want to make sure they get paid?

This used to be a pretty low level stress job. It has become my worst nightmare. Underwriters are calling...loan officers are calling. I have ended up sending two copies. One to the ass backwards processing co. and one to the loan officer so they can get going on the loans...

And of course, the burden of proof always ends up on our shoulders....GRRRRRRRRR.

Damn I hate Mondays more than ever.

[Aiptasia]

1. Keep master copies of everything

I'm a Realtor, and I know how easy it is for idiots to lose paperwork during processing of my listings and sales contracts. I'm finding I have to buggy whip more paralegals, loan officers and attorneys into doing their end of the closing paperwork than ever before.

Just start sending out all paperwork CERTIFIED requiring a signature at the receiving end and billing that party for the postage as a cost of doing business.

[ScreamingMeemie]

2. I've got back up disks for everything and paper copies in my filing

cabinet. This bank has got a one year "look see" agreement with this company. I don't think it's going to last even that long....as they've gotten a ton of complaints.

[Kingshakabobo]

3. I hear you.

I work for a large bank who brought in one of those companies to do our closings after they laid off our internal closers. They are so worried about driving us crazy over little issues such as periods after middle initials and making sure "Avenue" is not abbreviated on appraisals they forget to look for the BIG mistakes THEY make. They sent one of my files to the table a couple weeks ago with no mortgage insurance even though it was clearly required. Luckily the buyer was smart enough to comprehend the clerical error and sign corrected docs post closing.

They save a few bucks upfront but piss off Loan Officers, Customers, Appraisers and Realtors. Talk about penny wise and pound foolish.

BTW: The new "outsourced" document company is rumored to be owned by the new CEO's former nanny/babysitter.

[ScreamingMeemie]

4. Amazing, eh? This "company" also has offices all over the country.

Not one of them located here in MI...and yet they know our neighborhoods better than we do. :eyes:

Banks waste so much money trying to do things more smoothly...and it only ends up with more paperwork, more money spent and more headaches. :hi:

[Melynn]

5. That's interesting

From what I have seen, outsourcing is always more expensive and never works as well as doing work in-house.

I have often wonder if people in upper management are getting a kickback from the outsourcing company.