Posted by Arnold Mclellan on 7/30/12 11:37am
Msg #428640

Borrower expected to print documents at closing

My son closed on a refi with Wells Fargo on friday, the Title company ProgressiveTitle Insurance Agency , sent a notary to the home for the signing , he was told they would e-mail him the documents on Monday, loan reps do not answer calls at wells fargo
about this practice or to answer questions about charges on hud form like apprasial charge which was already paid by my son via AMEX credit card very interesting way to do business
Guess new way to cut the expenses, by someone lol

Reply by MW/VA on 7/30/12 11:53am
Msg #428642

I don't understand what you're saying here. First, you

said he "closed on a refi with Wells Fargo on friday", then "they would email him the documents on Monday". Do you mean they're emailing his signed copy of the docs after they get them. He shouldn't have signed a HUD that included an appraisal fee he'd already paid. They can get him a corrected HUD before the loan disburses.
As far as customer service is concerned, I'm in the process of a refi with WF currently. I have nothing but good things to say about the process so far. They have kept me updated every step of the way.

Reply by PegiT_MN on 7/30/12 8:51pm
Msg #428716

Appraisal Fee was probably POC

All closing costs that are associated with doing a refinance transaction have to be shown on the HUD 1 Settlement Statement. The appraisal fee is there but the fee is showing POC which means that this fee was paid outside of closing. The fee is not being counted twice, it is just being shown that it was already paid. It's too bad that no one at Wells Fargo could explain that to you and you had to come to a Notary website to find your answer. Any other questions you may have, just ask us and hopefully we can answer them for you. You can pm me if you like, I was a mortgage broker for 10 years before I started doing loan closings.

Reply by Sandra Clark on 7/30/12 1:28pm
Msg #428654

Check the HUD and see if it says "POC" which means "paid outside closing". It would be next to the appraisal fee charge. Are you saying the notary did not give you a copy of the closing docs? Or are you saying the notary told you the title co. would email the docs to you AFTER the closing? Your post is confusing. Why not call title co. and ask the pertinent questions?

Reply by Arnold Mclellan on 7/30/12 2:01pm
Msg #428659

notary did not give copy of doc's at closing said the title co would e-mail docs after closing
apprasial fee charged by the title co not listed as POC
did call title co and was told that is the way they do closings
and the cocoperation from Wells Fargo has been a nightmare during the whole process

Reply by Sandra Clark on 7/30/12 3:41pm
Msg #428670

Did your son not received at least 2 copies of the RTC for each person signing?

Reply by MW/VA on 7/30/12 6:53pm
Msg #428704

So why did he sign? He should have his 3-day RTC to

get the appraisal fee issue resolved. Already mentioned, he did get this copies of the RTC, right? Every tc has different procedures, but I haven't heard this one yet about no copies given at the signing.

Reply by PegiT_MN on 7/30/12 8:53pm
Msg #428717

Wow.....so sorry that this happened to you. I would call into Wells Fargo and ask to speak to a manager. They will escalate the call to a manager and you let them know everything that happened to you. Good luck.

Reply by lindetteh_PA on 7/30/12 7:02pm
Msg #428707

Did the TC tell him this was their procedure or did the Notary? Sounds like the notary is trying to cut corner's. I can't see how the Lender or TC could make that standard practice; not everyone has an Email address or a computer. Would be a law suite in the making...

Reply by MW/VA on 7/30/12 9:19pm
Msg #428724

"Would be a lawsuit in the making...." Maybe, or

maybe not. I think it's been discussed on the forum before that it's not a "legal requirement" for the borrower's to get a copy of the docs, but it is SOP.
Yes, I'm suspecting the notary in this situation also.
There would be a definite problem if he didn't get his copy of the RTC's.
It's one of those issues that depending on the circumstances of the loan, it might not be worth making a stink over.

Reply by sueharke on 7/30/12 10:35pm
Msg #428733

I've received docs overnight from the title company that did not inclue a copy for the signer. The docs said the signer would be given by email or mail. Not smart if a provident loan and the signer makes an error.