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Posted by Lisa-Ca on 8/18/05 5:33pm
Msg #60028

Uniform Residential Loan Application

Has anyone been asked to have the borrowers fill this out at the signing? It says right on it that it's to be filled out by borrowers with the lenders assistance. The lender sent me a note to have this and the Information Sheet filled out. The Info Sheet is common but the other is usually typed up already.

Reply by Merry_CA on 8/18/05 6:10pm
Msg #60031

You are correct Lisa... the 1003 is really step #1 in the loan process! Since so many loans are being processed over the phone, many mortgage loan brokers are not even doing the most basic steps in the process. The 1003 takes a long time to fill out and it hould not be left to the NSA to do the broker's job! I would call whomever contracted with you and tell them that you have not alotted time in your schedule to wait for the borrowers to fill out the 1003. If they want that service added you will rearrange your schedule for $____.

Reply by The Signing Doc/Loan Arranger on 8/18/05 10:08pm
Msg #60077

My loan officer wife aka "The Loan Arranger" says the loan officer is supposed to fill out the 1003 PERIOD. The borrower isn't to fill it out, the NSA isn't to fill it out, Title isn't to fill it out...it is the Loan Officer JOB to fill it out and it might be a violation of RESPA for the Loan Officer NOT to fill it out. Is this the second copy of the already completed 1003 just being signed?...or is this a new, original form. My wife states she is getting really sick of loan officers doing really 'shlocky' (sic) jobs because they don't know what they are doing.

Reply by MelissaM/FL on 8/18/05 10:55pm
Msg #60105

Tell your wife that I agree with her!