Posted by CopperheadVA on 2/18/09 7:42pm
Msg #278025

Unbelievable! Lender/Title docs=92 pgs; Broker docs=63 pgs

I've never been a loan officer, but aren't they supposed to get their broker docs signed at the BEGINNING of the loan process??? This ridiculous amount of broker docs almost doubled the signing time.

Oh, and of course borrower last name was misspelled two different ways on the lender and title docs. Line, correct, initial EVERY stinkin' page!

Reply by cassiewi on 2/18/09 7:44pm
Msg #278027

Did you charge them $25 extra for each mistake?

LOL. Not laughing at you, but at the company you worked for. Ridiculous.

Reply by MistarellaFL on 2/18/09 7:47pm
Msg #278028

Re: Did you charge them $25 extra for each mistake?

Just for giggles, I am c/p'ing all those charges to hiring companies that the gang thought up.
Next time I get "one of those" if you ZZZ we will deduct $xx from your check, I will be shooting that over to them via email. Can't wait to see/hear the reaction I will get.

BTW Nice to see you post Cassie. Hope all is well in your frigid neck o' the woods.

Reply by cassiewi on 2/18/09 7:56pm
Msg #278029

Re: Did you charge them $25 extra for each mistake?

That will be hilarious. Please let us know how it goes.

Thanks Misty! I have missed posting. But since I've become a part timer, I don't have as much free time as I used to. And I did take a five month hiatus. I became very discouraged and only recently started doing signings again. Feels good though, like putting on comfy pajamas, lol.

You are not lying, this winter has been absolutely brutal. I can't wait till spring.

Hope all is well your warm sand filled neck of the woods.

Reply by CopperheadVA on 2/18/09 8:17pm
Msg #278033

Re: Did you charge them $25 extra for each mistake?

Yeah, I was thinking about that the whole time.....

And of course the borrower disputed some things on the Settlement Statement and L/O was not available. In fact, he had promised borrower that he would call him earlier in the day to go over the Settlement Statement figures with the borrower - never happened.

Borrower signed so he would not lose his rate lock at 4.75% but he will be contacting L/O within 3-day RTC.

Reply by MW/VA on 2/19/09 8:46am
Msg #278068

I've run into that once or twice. It is ridiculous. Yes, sometimes these loans go through in a matter of days, and the broker docs get signed at the closing table. I suppose we would have a legal right not to include them in the package, but what good would that do?
I do hope you called them on a fee adjustment.

Reply by cdoty_IL on 2/19/09 8:57am
Msg #278070

This happens to me quite frequently actually, loan docs around 90 pgs, broker docs around 50 and they also throw in the predisclosures another 50-75....alll to be signed at closing. It is also always with an FHA loan also....those appts take forever!

Unfortunately, they do not disclose this upfront....it is all a suprise when the docs arrive.

Reply by CopperheadVA on 2/19/09 9:13am
Msg #278073

<< sometimes these loans go through in a matter of days, and the broker docs get signed at the closing table >>

According to the borrower, this loan has been in process for 60 days despite promises of a fast closing. This signing appt has been on again, off again for a week. This was a VA streamline.

I didn't ask for a fee adjustment - I already got my fee up from the $90 I was offered. However, I likely will not do another for this company - just too much jacking around with the on again, off again stuff, and then the incorrect docs and the huge package of broker docs...

Reply by CaliNotary on 2/19/09 3:00pm
Msg #278107

A fee adjustment for 156 pages? Ridiculous. n/m

Reply by cassiewi on 2/19/09 6:39pm
Msg #278126

Re: A fee adjustment for 156 pages? Ridiculous.

If that was directed at me, I was talking about the line through, correct and initial portion. With all the hand holding discussion that's gone on recently, it's ridiculous to me that these companies do it and yet we have to fix "their" errors all the time for free. That to me is ridulous. But it is the nature of the beast.

Reply by PA_Notary_II on 2/19/09 9:07am
Msg #278072

I had one last week that had 57 pages of broker docs and I ranted and raved for half an hour before leaving my office for the signing. I think the next time I open a file and find this, I'm going to call the hiring entity back and adjust my fee upwards by $25 and tell them get reimbursed by the broker. After all, we are hired by the TC or SS, NOT the broker. IMO if they want to use our services, they should be willing to pay for it....not ride the coat tails of the TC.

Reply by CopperheadVA on 2/19/09 9:25am
Msg #278076

Another thing, borrowers get pretty torqued when you finish signing all the lender and TC docs, and then you present them with yet another huge stack of docs to sign from their broker. My borrowers last night were beyond annoyed.

Reply by MW/VA on 2/19/09 9:35am
Msg #278079

Yes, it comes down to the fact that we end up doing the Broker's job for them, and they're the ones making the "big bucks". It's not easy to pass off to the borrowers why we're signing maybe 3 copies of the 1003 & HUD addendum. IME some of these "streamline" refi's are pretty shady.

Reply by Linda Juenger on 2/19/09 10:00am
Msg #278082

Was this TopDot? n/m

Reply by MistarellaFL on 2/19/09 12:17pm
Msg #278098

Re: Was this TopDot?

They are notorious for all those unsigned broker docs, aren't they?

Reply by Linda Juenger on 2/19/09 3:06pm
Msg #278108

Yes Ma'am. n/m