Posted by Yoli/CA on 8/23/12 8:56am
Msg #431628

Provident Funding -- (long)

We've all experienced or heard how stringent Provident loans are. Well, I had one scheduled for 5:30 yesterday for a 30 year refi for a single woman. (call came in about 3:30) Signing location is 20 minutes from me.

I get docs print and while prepping, find her name misspelled throughout Grant Deed - trust involved. Call SS and scan them GD pointing out discrepancies. 5:00 rolls around and still no correct GD. Call SS again who agrees I should call borrower to let her know I'll be a few minutes late. Call and leave v/m msg for borrower at home & cell (she's already left work on way home). Get GD, print and rock and roll.

Get to borrower's (about 10 minutes late) 2 minutes after she gets home. She didn't get my msg - left her cell at work and hasn't had time to retrieve home msgs. She's a very nice woman. I proceed to fill out my journal while she's gathering her notes and prints out what she received from lender about an hour before while at work and she hadn't had a chance to review. Turns out it's the HUD-1.

We start by my presenting the HUD-1. STOP EVERYTHING. She was told all fees would be rolled into loan. HUD shows her short to close by $900+ (probably due to impounds). HUD shows $1300+ for HO insurance. Her annual premium is slightly over $500. She calls and leaves v/m msg for her LO. I explain NORTC. Nope, she doesn't want to sign. She's not concerned with rate lock. While she's calling her other contact person, I call SS. She leaves another msg. SS talks to her, explaining same things I already did. SS advises she'll try to get someone at lender or TC to call her. While waiting, I present her with Note, Deed of Trust and payment letter. Yeah, everything else seems to be ok. However, she's adamant. She's not signing. She's "not feeling the love."

After waiting a few more minutes and no responses, I leave. I'm in my car still parked in front of house and my phone rings. SS wants to talk to borrower again. Tell her to call the house as I'm already in car. She instructs me to not leave, she's going to call borrower and will call me right back. Sit in idling car; borrower opens her front door while on the phone and walks over to me. She hangs up and tells me she's not signing. Docs are not what she was told, she doesn't feel comfortable signing as is, no need signing and then have to do it all over again and she needs to talk to her loan officer. She tells me she's "pi$$ed off now" over whole situation. But, she's still very pleasant towards me.

45-50 minutes from arrival to departure. I invoiced for full fee.

Reply by Linda_H/FL on 8/23/12 9:04am
Msg #431634

"I invoiced for full fee"

Sounds like you really earned it too!! - that and THEN some!!

Reply by NJDiva on 8/23/12 9:55am
Msg #431647

I've been paid full fee for these types of

situations, Yolanda, so I don't see why it would be something out of the question. After all, you already alleviated a huge issue with the misspelling of the name.

Awesome catch girl!

Reply by ReneeK_MI on 8/23/12 9:54am
Msg #431646

Don't they only use an Estimated hud in CA?

Bona-fide question - I don't get how CA does business, but don't they issue a Final hud AFTER funding? Couldn't she have signed everything but the Hud, and they could take care of that between themselves (no 2nd trip for you)?

Reply by Yoli/CA on 8/23/12 10:20am
Msg #431654

Re: Don't they only use an Estimated hud in CA?

Yes, Renee, you're correct. And, this was pointed out to borrower - that some lenders will do this. However, we're talking about Provident. They are SOOOO picky. Everything in package must be signed and dated and initialed just so.

AND, no one except SS returned calls.

Reply by Martin Renteria on 8/23/12 9:25pm
Msg #431755

Re: Don't they only use an Estimated hud in CA?

In the 10+ yrs we've been doing this, we've experienced this countless times where borrowers don't receive HUD on time. There's not much a notary can do. However, we do inform the borrower about 12 USC Section 2603, Uniform Settlement Statement - Real Estate Settlement Procedures (Chapter 27). "Upon request of the borrower to inspect the form prescribed under this section during the business day immediately preceding the day of settlement, the person who will conduct the settlement shall permit the borrower to inspect those items which are known to such person during such preceding day." We carry copies of the federal law with us and provide it to those borrowers who request it. You can get it here: http://1.usa.gov/R5ul8j