Posted by Brooke Squyres on 9/22/06 10:08am
Msg #147739

Question on Tax/insurance/loans form......

I've been seeing these more and more in the last few months, and my question is, do you guys have the borrowers attempt to fill this thing out? Most of them have no clue where to begin, and it could potentially stretch the signing out F_O_R_E_V_E_R. Some forms state that Title WILL NOT fill them out. Just curious how ya'll were handling this. TIA

Reply by MelissaCT on 9/22/06 11:02am
Msg #147777

Re: I just ask the bwr to complete

as much as they can. A lot of times, they don't know their HO ins company name or number, I let them just put down their agent's info. The (property) tax form gets completed by the local tax collector and I ask them to complete the loan info for current loans against the property. This can usually be found on payoff statement or 1003 contained within the documents. The purpose is usually just to verify that the information provided in the applicaton process is accurate & get the information recorded in the borrower's own handwriting.

This is strictly my opinion and how I handle the situation. Of course, if the borrower wants to go fishing for the info, I let them.

Reply by Brooke Squyres on 9/22/06 11:29am
Msg #147790

Re: I just ask the bwr to complete

Thanks for the reply, Melissa. That is sort of what I have been doing; but it is bad enough when they have to fill out the statement of info (why doesn't the LO send that ahead of time?? I have two that actually do that!); musch less go searching through often misplaced files to find information. Just venting, I guess!

Reply by Ndwa on 9/22/06 1:05pm
Msg #147806

Must be one of those from Alliance. I only have them fill in what they know to the best of their knowledge, the rest leave it up to title. TC can call the later if the missing info is needed. Never let the BO leave the table to go look for somethings, it'll take forever.