Show me the money!
Today at work I received a call from lender that I used to re-fi my house saying that the title company hadn't received a check with the final packet of paperwork that they got. They couldn't disperse the funds to pay off my loan and the proverbial stuff was hitting the fan.
They, quite indignantly, asked if I was sending the check separately or what. I informed them that I had wired the money the Friday before, and had gotten conformation that the money had arrived. Somehow this got translated into "last Friday" as opposed to the actual "the Friday before the closing" (which was on a Thursday) and they were mortified since "wire transfers can take a day or two to process and that means that the money might not be there even today." Yeah, understood, that's why I wired the money a week before closing.
They asked for the conformation number, which I gave them. A wire transfer conformation number is like 20 digits long with a couple of letters in the middle just for good measure. They then had the audacity to ask me for the account information that I had used to wire it to (which unfortunately I didn't have at my desk since it was at home with the re-fi paperwork) claiming that searching for a particular wire transfer among the "thousands of transfers they get every day" would be too difficult without the destination account information. I can't imagine why I would have to tell them the account information they gave me (because I'd pretty much have to call them and ask for it again which would instantly turn into a "Who's on first?" sort of conversation).
Come on people! You're a title company, you deal with "thousands of wire transfers every day"! If you don't have a system in place that lets you pull them up based on the wire conformation number, then you don't deserve to be a title company handling thousands of wire transfers a day!
Sheesh. I don't write database software, or financial software, and even I know that feature has to rank in the top three of the required features for any title company dealing with thousands of wire transfers a day.
While I had them on the phone bitching about their incompetence, hey, look at that, they found the money. Yep, they had it all along.
Once again I have to wonder about people whose sole job it is to track money and do paperwork when they can't figure out something as simple as a wire transfer.
They, quite indignantly, asked if I was sending the check separately or what. I informed them that I had wired the money the Friday before, and had gotten conformation that the money had arrived. Somehow this got translated into "last Friday" as opposed to the actual "the Friday before the closing" (which was on a Thursday) and they were mortified since "wire transfers can take a day or two to process and that means that the money might not be there even today." Yeah, understood, that's why I wired the money a week before closing.
They asked for the conformation number, which I gave them. A wire transfer conformation number is like 20 digits long with a couple of letters in the middle just for good measure. They then had the audacity to ask me for the account information that I had used to wire it to (which unfortunately I didn't have at my desk since it was at home with the re-fi paperwork) claiming that searching for a particular wire transfer among the "thousands of transfers they get every day" would be too difficult without the destination account information. I can't imagine why I would have to tell them the account information they gave me (because I'd pretty much have to call them and ask for it again which would instantly turn into a "Who's on first?" sort of conversation).
Come on people! You're a title company, you deal with "thousands of wire transfers every day"! If you don't have a system in place that lets you pull them up based on the wire conformation number, then you don't deserve to be a title company handling thousands of wire transfers a day!
Sheesh. I don't write database software, or financial software, and even I know that feature has to rank in the top three of the required features for any title company dealing with thousands of wire transfers a day.
While I had them on the phone bitching about their incompetence, hey, look at that, they found the money. Yep, they had it all along.
Once again I have to wonder about people whose sole job it is to track money and do paperwork when they can't figure out something as simple as a wire transfer.
posted by Mark at 10:01 PM
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