Posted by HSH/WA on 5/29/13 10:16pm
Msg #471669

With both housing prices and mort rates jumping

we should see a surge of purchases - as buyers jump off the fence to scoop up still depressed rates and prices. When you accept these signings keep in mind they take longer - especially first time FHAs. The packages are bigger too with all the appraisal info. I plan on tacking another $25 bucks on plus something for the fax backs (no RTC). Any thoughts?

Reply by Scriba/NM on 5/29/13 10:56pm
Msg #471670

You're pretty much correct - however, in my area most purchases are still signed at the title company. Once in a while we get a few signings for purchases done at the final walk through but title likes to collect ALL the money when they can. The main thing I see here is that packages are getting larger and larger. I did one for a New York company that contained tons of pages with tiny print and many weird pages (who attended the signing) and page after page of Notary Instructions that could drive a person to drink. Three ID forms (guess we have to REALLY make sure who we are signing), four TIL's and three HUDs, and two deeds. Insanity. But it's a sign of the times, I suppose. After 12 years and over 8,000 loans later, things have really changed. It appears to be a race between the loan docs and the notary instructions as to which has the most sheets in the package.