Posted by Anon for this one on 8/16/05 3:13pm
Msg #59443

Is this discussing numbers ...

The borrower could not get ahold of her broker to discuss her loan after trying for several hours knowing I had the paperwork she called me and asked me what her payment amount was and when it was due so i told her then she freaked out and said she was not going to sign that and after many more attempts to get ahold of them she called me and told me not to show up. Well this morning i get a call saying i overstepped my job by discussing numbers. I said did you not think she would notice this when i was at her house i would have pointed that out at her house had i closed by saying this is your payment coupon this is the amount and this is when it is due .... am I wrong on this ???

Reply by Lee/AR on 8/16/05 3:17pm
Msg #59444

I don't think so. But they have to blame somebody... and 'stuff' rolls downhill.

Reply by Ted_MI on 8/16/05 3:47pm
Msg #59448

Re: Agree with Lee n/m

Reply by TitleGalCA on 8/16/05 4:34pm
Msg #59473

I agree with Lee and Ted - and think you got caught between a rock and a hard place, in trying to be nice over the phone.

Reply by Wa notary on 8/16/05 7:27pm
Msg #59515

I think that we should just tell the borrowers that they MUST discuss this with their LO.....

Reply by bp/WV on 8/16/05 9:31pm
Msg #59538

I have on numerous occasions had borrowers ask me this information over the phone as well.... If I have the docs in front of me, I usually let the borrowers know in advance. There have been several times when borrowers ask me if they need to have funds on the day of signing and if so, how much. Now, correct me if Im wrong, but if the LO was doing their job, the borrowers wouldn't have the need to ask me for the info.

Reply by Anon for this one on 8/16/05 9:52pm
Msg #59541

I agree with this but the borrower could not get ahold of her. Maybe i should not have over the phone but i am honestly thinking they are looking for someone to blame why she did not sign and I guess that someone was me ...

Reply by pan/nd on 8/16/05 10:53pm
Msg #59546

Anon,

Oh, good gosh, what a bunch of bunk. If the numbers are wrong..the borrower wouldn't sign at her house either.

The LO is trying to blame you for his/her failure to communicate.

I give numbers out all the time...particularly to borrowers who might live,say, 100 miles or more, one way from me. Never a problem with the lender or SS.

If somebody tried to shove that (your situation) down my throat...they'd have a battle on their hands.

Reply by ideal1 on 8/17/05 2:48am
Msg #59568

I agree with Pan. I will usually go over interest rate, amount borrowed, any funds due whether it is a HELOC, Refi, or HEL, etc. as soon as I get the package. In most cases, there is no issue. But in cases where the borrower balks at the numbers, I know the LO has not done his job BEFORE I make the trip to the borrower. No one likes to pay trip fees when they can resolve the issue before hand.

One important note. I will not discuss whether or not they are getting a "good deal." That would clearly cross the line of discussing "numbers".

Reply by Renee/MI on 8/17/05 4:54am
Msg #59570

Anon - it might make you feel all the better if you think about this - what if borrower had asked you what the payment was, knowing you HAD the docs and the info, and all you offered was that they should call L/O or wait until you bring the docs to be signed? I can hardly imagine a borrower that would've been placated by that ...

And THEN the L/O would be calling you out on the carpet for NOT giving them the info!

Reply by Anon for this one ... on 8/17/05 7:10am
Msg #59577

I am sure you are right on this. The same company told her that they could not give her a total until I gave them an invoice for how much it would cost to do the closing. This was after i had a confirmation with a $ amount. They just needed an excuse i guess. Thanks for making me feel like i was not in the wrong. I was starting to question myself.

Melda