Posted by snoopdogMs on 3/6/09 7:44pm
Msg #279880

Don't you just love it when--

the borrowers think they must read the 23 pages(Countrywide closing instructions). I always group these papers and tell the borrower this is for the lender only. Only about 1 in 100 think they need to read this.
or that the notary public writes in that she is a Notary Republic.
or that the borrower is a lawyer and will not call back the lender or the notary after the notary has been commissioned for the job.
or that 2 loans back to back don't close because the loan officer has dropped the ball. One LO tried to make the borrower feel quilty for backing out but that didn't fly. They did (after an hour) get what they wanted which will be a redraw for tomorrow on Sat. I will be paid in full for the no close.
Feel free to add to the list!

Reply by Linda_H/FL on 3/6/09 7:47pm
Msg #279881

Rough day there, Marilyn??....:) n/m

Reply by snoopdogMs on 3/6/09 8:18pm
Msg #279884

Re: Rough day there, Marilyn??....:)

Interesting 2 days for sure. The (23 page closing instruction) reader was a nasty divorce situation that needed a QCD to be signed by the doctor husband. I had to chase this guy down before going to the closing. She did not even want to help with his whereabouts. She had a (he) neighbor sit in on the closing who also had to peruse the documents. They were really getting into the 23 pages and he was asking her questions. I was almost amused.

Reply by sue_pa on 3/7/09 12:17pm
Msg #279976

Re: Rough day there, Marilyn??....:)

...I had to chase this guy down before going to the closing. She did not even want to help with his whereabouts. She had a (he) neighbor sit in on the closing who also had to peruse the documents. They were really getting into the 23 pages and he was asking her questions....

I do a lot for my clients but the borrowers aren't my clients. I would not have "chased anyone down". He would have been there at the appointed time or not ... she would have taken care of it or wouldn't have gotten her loan.

No one ever sees the closing instructions unless they must sign them. I don't even "wave" them in front of a borrower. I would have had the neighbor shut up very quickly. My job is to get the paperwork signed ... not so someone (borrower or neighbor) can attempt to learn and understand the title business on my time ... because reading generic closing instructions are only going to confuse someone without a background in the business.

Reply by snoopdogMs on 3/7/09 2:22pm
Msg #279983

Re: Rough day there, Marilyn??....:)

This was a very uncooperative x-doctors wife who could have cared less about how the X was going to sign or be found. I did get paid $50 extra to meet him elsewhere(locally) after the title co. was able to contact him after talking with her attorney. The neighbor sat down after I had gone thru the main docs and came in when I mentioned RTC"midnight" he said "midnight!?". He said"I thought she has 3 days". I looked him straight in the eyes and said that she and I had already gone over the RTC and she understands the deadline. He got the point. This whole closing was a delicate situation from the first phone call. She let me know right off that he(X) was not her worry. As far as the 23 pages instructions, as I said it is rare that the borrower would even want to see these since I tell me this is strictly lender instructions. She insisted and because of the sensitivity of the whole scenario, I felt it was in the best interest of the closing to let them read. I did not want to compromise the closing with any stiffhanded action on my part. Each closing is unique and requires discernment on our part to get it done within reason.

Reply by Becca_FL on 3/6/09 8:11pm
Msg #279882

Sorry you had a rough day, Marilyn. A tip for future CW loans...don't waste the paper or toner printing out the closing instructions for the executed pkg or the brws pkg. The closing instructions are for the TC/EO and title has already been sent the instructions from CW in order to prepare the HUD. This will save you 50 pages of paper and toner.

On the flip side of your bad day, at least you're getting paid for both closings. :-)

Reply by snoopdogMs on 3/6/09 8:25pm
Msg #279886

True Becca. One is already a redraw for tomorrow-2X$

Other will probably redraw next week. Just spoke with company that hired me and she also will pay full fee for the no close. I sent them an e-mail early in the day and told them that the borrower had to have the HUD in advance for review and even sent his e-mail address.

Reply by Linda Juenger on 3/6/09 8:42pm
Msg #279894

Becca, TC's that I work for want those 23 pages with

the pkg. I have asked that question many times and am always told to print and send back with pkg. I don't give them for borrower though.

Reply by Becca_FL on 3/6/09 10:00pm
Msg #279913

That's just BS, Linda, because a HUD is not drawn w/o...

closing instructions from the lender to the TC. Believe me, the EO ALREADY has the closing instructions. Why on earth do they need another copy? Think about it.

Reply by Linda Juenger on 3/6/09 10:17pm
Msg #279920

Becca, I have thought about it many times , in fact Every

time I print them. I am doing what I am told. I have asked every company and have been told the very same thing. WE need to print them and return them with the pkg, but don't bother with providing the borrower a copy. Not necessary.

Reply by Pat/IL on 3/6/09 10:28pm
Msg #279923

Here's what I think is going on.

The title company does, indeed, have a copy. They will need to keep their copy in their file. Whether or not Countrywide needs a copy returned with the file, nobody really knows. Because if you ask five different Countrywide employees, you will get five different answers. So, since the instructions are printed on the notary's dime, it's convenient enought to just send it along with the package.

Reply by Becca_FL on 3/6/09 11:02pm
Msg #279928

Pat, it is the post-closers responsibility to get the pkg...

back in order and three copies of the closing instructions are NOT required.

Reply by Pat/IL on 3/6/09 11:27pm
Msg #279929

Message Deleted

This message has been deleted by a forum moderator.

Reason: Abusive

Reply by Becca_FL on 3/6/09 10:55pm
Msg #279926

Linda, it's BS that they are feeding you and I don't buy it.

Having been there, done that , I know the truth. The fact of the matter is that MANY SS do NOT know what happens behind the scenes because they have never worked in the industry. Once I school the company and let them know that I know WTF is going on, they never question me again. Closing instructions do not belong in a brws copy pkg. unless the brws must sign off on them. Last time I saw brws signing off on closing instructions was Ameriquest, Delta Funding and Freemont all of which are out of business. It's a waste of time, a waste of effort and a waste of paper.

Reply by Linda Juenger on 3/6/09 10:57pm
Msg #279927

Becca, YOU are NOT reading MY post correctly. Go to bed

and try again tomorrow. I never said I printed them for the borrower (I DON"T). I do print them however to send back with the pkg.
You are not reading this correctly.

Reply by Linda_H/FL on 3/7/09 9:09am
Msg #279953

Well, I'm gonna disagree with this one

"Last time I saw brws signing off on closing instructions was Ameriquest, Delta Funding and Freemont all of which are out of business"

That may be your personal experience, Becca, but I've done several signings recently where the borrowers sign off on the instructions...why I have no idea but there's a signature line for them...

In the case of the 23-page instructions, I leave them in front where I receive them and do as Paul and others do - "wave" them saying these are instructions to the title company on how to prepare and process your closing package - you don't have to sign them but they're part of the package so here they are....and set them aside and proceed with the closing.

Reply by LynnNC on 3/7/09 10:42am
Msg #279971

Re: Becca, TC's that I work for want those 23 pages with

I print the 23 pages, but set them aside during the signing and don't even show them to the borrowers.

Reply by PAW on 3/6/09 9:17pm
Msg #279901

I have been advised, on more than one occasion, that I must provide the borrowers EVERYTHING that I receive, including the 23 pages of closing instructions. However, it is very easy to bypass them. I just place them at the end of the package and magically wave the stack in front of me, telling the borrowers that they are the title company closing instructions issued by their lender. I tell them, "There is a copy in your package." as I hand them their copies. I have never had any borrower read through them while I was at the table.

Reply by Becca_FL on 3/6/09 10:15pm
Msg #279919

In all my years working in a TC, I never copied the brw...

on closing instructions, except for the lenders that required the brws to sign off on the closing instructions and CW does not require that the brws sign off. I think most of us know that CW closing instructions are nothing more than a waste of paper, the closing instructions are for the closing agent and not for the borrower or the NSA. Why eat the cost when not necessary? It's just overkill to me and causes problems as indicated by the original poster, Marilyn.

Reply by LKT/CA on 3/6/09 10:47pm
Msg #279925

I agree with PAW

The last two loan signings I completed (different lenders), the borrower needed to initial every page and sign off on the closing instructions. The loan signings before that, they did not. I make it a practice to print for the borrowers an exact copy of everything sent to me. I also do as PAW does and place the closing instructions at the end of the stack, saying what they are and that they have a copy in their packet. I make sure to emphasize that every document in the stack they signed has been copied for them.

Reply by Teddog/CO on 3/7/09 8:03am
Msg #279948

PAW that's what I do too. What a waste of paper but you should "do it by the book" give the BWR a copy of everything. Just clip them and put at the very end of the docs.

Have a great weekend everyone

Reply by jba/fl on 3/7/09 9:18am
Msg #279958

I always say, "These are instructions for the next person in the food chain telling them everything they have to do so that your loan funds properly and on time," and then flip em over continuing with the next item. If I'm not rushed, I don't print for Bor since they aren't always near top.

Reply by BrendaTx on 3/7/09 9:33am
Msg #279961

To print or not to print...

I print them. It's easier for me to let go of the paper than my time to not print them.

However, I get Becca's saying. And, Snoop also. Printing them is a waste.

Time is money, too. Print, walk off. (I should be greener about these things...like Becca...I don't believe they are necessary, but I print.)

But, the borrowers do not need them...most do not really want them...and certainly to the borrower, it makes no sense. The TC already has them. Half dozen to one, six to another.

As a "lazy" notary (now) who doesn't want to print anything now since I'm in the working world of 8-5, I'm just happy with the easy job I've got today. A group of signers meeting at one o'clock in a parking lot of a restaurant. Roll up the cash and put it in my pocket...nothing to print.

Reply by PAW on 3/7/09 9:53am
Msg #279962

Re: To print or not to print... Not my choice

>>> But, the borrowers do not need them...most do not really want them...and certainly to the borrower, it makes no sense. <<<

I agree that 99.99% of the time this is very true. However, we are not in the position to decide what the borrower should or should not get. As I have been told, whatever information I get from the title company and/or lender in paper form, except for instructions explicitly written for my eyes only (such as airbills and shipping instructions) must be provided to the borrower. Only the borrower, lender or title officers have the authority to add or delete documents from the provided file, plus any other documents or documentation required to perform your official duties, such as completing and signing of a journal.

Reply by JanetK_CA on 3/8/09 1:42am
Msg #280008

Re: To print or not to print... Not my choice

I usually print one set with the package the borrowers are signing. I tell them what it is and that if they really want a copy, they can have that one to add to their pile and I'll print another one to return. [I don't say it like that, though.] On a rare occasion, someone will actually want to keep a copy, but usually they are more than happy to not have that much more paper to stick in their files.

Reply by NCLisa on 3/6/09 10:15pm
Msg #279918

I remove every page that does not need to be signed by the BO, and clip it together underneath the envelope with the copies. The borrowers don't see those docs. I get everything signed, hand the envelope to the borrowers, and tell them that there are copies of everything they just signed, plus more. There are times when I don't even print the CW instructions out until I send the package back.

I've done 2 Eclosings this week, where the company gave me the incorrect security questions and answers. So the one tonight starts at 9pm, and we go through the paper docs, get to the edocs, and I get locked out! We wait 15 minutes for the company manager to call back, and I ask why in the world they have real answers for the questions instead of all the answers "loan" or "company name". So I'll have to go back tomorrow and get the docs signed. Not going out of my way though, as I'm taking a fun class tomorrow afternoon.