Had an investment property refi yesterday with a fairly affluent client yesterday, who for some strange reason had no idea there was cash to close. I was unable to reach him by telephone before the signing, only to meet him at a certain address at a certain time with docs.
It's a huge package since it is brokered loan. Lots of redundancy. I learn that the escrow is to fund tomorrow, how will he be wiring the funds on a Saturday? Can't, so we need a cashiers' check. He is on his lunch break from the hospital...we run to a bank in Montecito to get cashiers' check to include in docs back via FEDEX...unscheduled detour and I have more deadlines to meet than my itinerary allows. Trying to stay on track is sometimes beyond our control.
I just don't get that the borrower wasn't told prior to my appearance that he needed to wire or have cashiers' check. Rate lock to expire Monday. At least he had way to copy his IDs at his home.
Guess I'll never get it...happens a lot these days. This was for a good client who initially offered $80 but able to get my fee approved somehow. This signing could not fail to fly. |
