Posted by Denise on 5/25/04 3:40pm
Msg #2289

signing mistake

Has anyone ever messed up and not collected the funds that were due?
I had a signing - I glanced at the Hud at the bottom and I saw zero's. I didn't bother to look up a few lines ( which I normally look a little closer)
the zeros were for no funds due borrower. Up about four lines was the
amount due from borrower. $32000.
I have had Huds before with large figures that the signing companys said not to collect. The Hud was faxed to me with no cover sheet about collecting funds, which the same company had included on one that I had
earlier that day. THey also did not mention in the follow up phone call to remind me to collect funds.
I messed up. BUt , as someone from the signing co , stated , it should have
had a cover sheet with the Hud, telling me to collect and who payment was
to be made out too. Anyway, the signing company said they will not use my services anylonger. They give you no chances for a mess up. I have never had anything like this happen before.

Reply by Rebecca Fair on 5/25/04 5:22pm
Msg #2292

If there is a recision period, the funds are not technically due at the signing but, are due after recision. I don't think you messed up. The borrowers should know that they are expected to have certified funds at the signing if that is the case. It sounds to me that the LO did not have his/her act together.

Reply by Sylvia/FL on 5/25/04 5:25pm
Msg #2293

If funds due were for $32000 (???) they would have had to have a certified check and would be aware of the necessity of having a check at the table.

Who was the signing company??

Reply by Sylvia/FL on 5/25/04 5:25pm
Msg #2294

If funds due were for $32000 (???) they would have had to have a certified check and would be aware of the necessity of having a check at the table.

Who was the signing company??

Reply by Denise on 5/26/04 11:26am
Msg #2309

The signing co was Landamerica onestop.
The borrowers said that they were prepared to pay $30,000 at closing
but not anymore than than at the time. They received a message before I got there to pay the 32,000 plus. They kept talking about paying on the
principal, which is what they were doing, and I guess we did not communicate very well. THey did send in the money on Monday.

But The signing co says that they will not use me any more. They do not
give second chances. I was even willing to go back and pick up the money from the borrower.

Reply by Donna McGee on 5/26/04 3:03pm
Msg #2317

It seems rather odd to me that no one mentioned to collect funds. Its seems like a LARGE amount to simply forget to tell you about. And as was already mentioned, the borrower's should have already had certified funds ready at the signing. The only thing that you could have done was call the signing company while you were at the appointment. I find it odd that this is the reason why Landamerica will not work with you again. Why would they fire you for following your instructions? Have you worked with them before? Problem free? It sounds to me like someone is using you as the scapegoat. They will probably call you again next week! :-)