Posted by Anonymous on 12/27/04 12:11pm
Msg #14551

Are these title companies incompetent or am I crazy??

I did 6 signings yesterday and I am exhausted. 5 of my six signings were overnighted and the docs were in order. One signing was e-doc and this title company screwed up the hud, the terms were not what the borrower and her loan officer had agreed to. Okay, while out at this signing, the title company emailed another copy of a corrected hud. This would have been great if I was not already at the borrowers house. I believe I specifically requested a corrected hud be faxed to the borrower to be signed immediatley. I ended up at a Kinkos printing this hud, this was after placing several calls back to the office, I got the, we are not in the office message.

But by the grace of God, my signings have been very smooth and easy transactions. I request that the borrower read over the loan papers to determine if the terms are what was explained by the loan officer. I go over the hud-1 and the documents that need to be signed and notarized with no problem. This signing was a nightmare and by the way, it was a reschedule.

Reply by mike/ca on 12/27/04 12:25pm
Msg #14552

welcome to the real world, had one where there was no rtc

Reply by Kimberly Crowe on 12/27/04 9:01pm
Msg #14564

I'm not saying it was or wasn't the title companies fault, but in their defense.........I've worked in the title insurance industry since 1995. 9 times out of 10 the reason the HUD isn't done or isn't done correctly is due to the lender. (no instructions, revised instructions after revised instructions) I've seen more non-conforming type lenders do this more than anybody, seems like. They schedule closings that aren't even close to being ready and they push push push everybody involved to try and get it done which stresses everybody out. The parties involved think that since the title company is generating the HUD, then it's the title companies fault, which is fact it isn't........or, the title company could have had the instructions for a couple of days but didn't feel like doing it...seen that too.

Reply by Nicole_NCali on 12/28/04 11:38am
Msg #14599

I agree with you Kimberly, I find that most of the LO are the ones who drop the ball. I get the feeling that the title companies are the ones left holding the stink bomb when things go wrong on the paperwork.

Reply by CaliNotary on 12/28/04 1:48pm
Msg #14615

"They schedule closings that aren't even close to being ready and they push push push everybody involved to try and get it done which stresses everybody out."

<cough>Ameriquest<cough>

I just don't understand this at all. Most of the Ameriquest loan reps seem to do this and I've never understood what the big deal about closing the loan one day later is. I can see if it's the last day of the month to close, but they do this with damn near every loan. Things seem to have improved more me with them in the past month or so, but prior to that about half of the appointments I had for their loans had to be rescheduled due to the docs not being ready on time.

Am I missing something? Its there a remotely legit reason why they do this?

Reply by Nicole_NCali on 12/28/04 2:35pm
Msg #14627

I just get a blanket answer that they were waiting for demands and the figures are different than what was expected so they have to redo the paperwork. It drives me crazy sometimes, but I do understand that this is not the title companies fault. One poor gal was working on loan docs that had to be redrawn at 12am on christmas eve. We both said the LO was the devil and called it a holiday.

Reply by Robin_IN on 12/29/04 12:27am
Msg #14775

I have worked for a title company as a Closer and it does get crazy. There are so many people involved - you have the Mortgage Broker (dealing with the Borrowers) that schedules the closing with the title company...usually BEFORE talking with the lender. The lender is then called by the title company, so that everyone is on the same page. While the title company is waiting for the docs from the lender, the Mortgage Broker is calling wanting figures so they can call the Borrowers....and now that I am in the Signing Business, throw in a Signing Service and Notary to the mix, and you have total chaos sometimes!! Understanding how it works certainly helps in knowing where the fault lies, but that really doesn't help the frustration when you are the Notary at the end of the receiving line! Nobody can ever say that being a Signing Agent is boring...lol