Posted by NCLisa on 6/9/08 6:29pm
Msg #250580

I just got blasted by a TC for not "signing" the

lenders instructions on a CW loan. There is nowhere on the 26 pages of instructions for the notary/nsa or borrower to sign. There isn't even a place for the closing agent to sign. I asked what and/or who they were blasting me for not signing, and they never did respond.


2 of the big TC's that did not require the NSA to return the CW closing instructions (because they were already printed in the TC file to do the hud) are now requiring them to be sent back. Seems that things are so slow, they are cutting back on paper, and only printing the 3 pages with the fees, and are relying on the NSA to pay the printing costs, while trying to reduce the printing fees to $15.

Reply by snoopdogMs on 6/9/08 6:47pm
Msg #250585

I just closed a full spectrum loan (138 pages, 2 borrowers) for CW and they wanted all pages initialed that were not signed. And they also asked for the borrowers to date with a certain format. Never had that request before. I followed those instructions with the exception of their 23 pages of instructions. They received the package today and I did not hear any flack about the 23 pages not being initialed. I showed the borrowers the pages just so they would know that these pages were specific to CW and not something of interest to them or to be signed. I always include the 23 pages in the borrower package unless instructions say that they don't have to be printed for the borrower.

Reply by Becca_FL on 6/9/08 8:01pm
Msg #250589

There was a day when I would have bent over backwards to close a CW loan, but those days are gone. Back in the day, I was paid $225+ to close a CWFS loan and I didn't even have to print the 25 pages of closing instructions and I darn sure would NEVER had been asked to sign them. Now that CW has "centralized" their settlement agents, I know I'm not going to be doing CW deals as long as the "centralized" TCs are subbing them out for 1/3 of what I was being paid and giving piss-poor instructions to boot.

What a joke. How's that working out for you Mozzilla?

Reply by snoopdogMs on 6/9/08 8:45pm
Msg #250592

Becca, my fee was substantial as after receiving the huge package with 4 or 5 pages of notary instructions, I called the scheduler who had not mentioned faxbacks and asked for more $. I told her the package commanded a higher fee because of size and faxbacks. She added $50 (my request) to my fee and I was happy to close the loan. She did e-mail me back and said that my file will be flagged with my fees. I e-mailed her back and reminded her that I routinely go back and clean up after some of the lowball notaries but my fees are what they are.

Reply by NCLisa on 6/9/08 11:53pm
Msg #250610

None of these are CWFS just straight

CW. I won't close Full Spectrum loans, or any other subprime lender. I never did, and never will.

Reply by MW/VA on 6/9/08 9:25pm
Msg #250597

Try not to take it too personally, Lisa. CW is under a lot of scrutiny these days & the pressure is on everyone, especially the TC's. Business has dropped off dramatically for CW--I had a couple of companies I did them regularly for--almost never hear from them now. Also, CW is now required to use only "national" TC's. Once again, we are at the tail end, and don't see the big picture. I routinely didn't include the 25-26 pages of instructions in the borrower's package (they were for the TC).

Reply by Joan Bergstrom on 6/9/08 10:36pm
Msg #250604

I've only seen 23 pages for CW not 25-26 n/m

Reply by NCLisa on 6/9/08 11:46pm
Msg #250609

If the docs are out of Charlotte, then they start at 27 n/m

Reply by OR on 6/10/08 2:52am
Msg #250613

Re: was told to read page 24

that is where I was to find the pages that non obliging spouse is to sign. I was ask to refer to that page when I did my last Country Wide signing. I have no seen 25-27. What is on them does any one know?

Reply by PA_Notary_II on 6/10/08 8:18am
Msg #250625

Re: I just got blasted...CW is being bought by BOA...

I don't know about anyone else but I have never, ever done a deal for BOA out of the 4500+ deals I have handled. When BOA takes over I have to wonder if CW deals will go to zero for NSAs.

Reply by MW/VA on 6/10/08 9:09am
Msg #250631

Re: I just got blasted...CW is being bought by BOA...

This has been the rumor. I'm doing signings for RM's for BOA (through a TC, of course).
They are great to work with.

Reply by cntrlcalntry on 6/10/08 10:27am
Msg #250644

CW is being bought by BOA...

I did my first BOA purchase closing last week. The package was small and very easy.

Reply by CaliNotary on 6/10/08 11:51am
Msg #250654

I've done plenty of BofA loans

Just did one yesterday, entire package including title docs was 68 pages, 1 notarizaton. Their loan paperwork is about the easiest you'll ever find.