Posted by Leslie-Mo on 8/1/05 2:00pm
Msg #56188

Signing taking place at lender/bank

Has anyone had closings at the bank/lender? Since the bank is local, why do they need me?

Reply by ColleenCA on 8/1/05 2:00pm
Msg #56189

Probably because their resident notary is on vacation.

Reply by Leslie-Mo on 8/1/05 2:05pm
Msg #56190

Ok, thanks. I was/am nervous about presenting paperwork in front of the lender.

Reply by ColleenCA on 8/1/05 2:13pm
Msg #56192

Don't be. They explain the docs, you just witness signatures. Easier then having to explain them yourself. Good luck!

Reply by Lee/AR on 8/1/05 2:21pm
Msg #56194

I've done just one. Was a local branch bank of a nationwide Bank. Local Bank had no clue I was going to be there, but they gave me a missing VP's office & treated both myself & B's like visiting royalty. Even let us use the phone when B's had a question, made copies & faxed 1 page out.

Reply by NY_TaxLady on 8/1/05 10:28pm
Msg #56309

I had couple a year or so back at my local Citibank. Like Lee said no one was was there and they gave me one of the VP offices, It was an easy sign.

Reply by chuckCA on 8/1/05 2:22pm
Msg #56195

Could be a lot of things....borrowers didn't want to meet at their home...loan officer might want to fax something during the signing.

Nothing to worry about. At least you will have a desk to sign on.

Reply by Brian/CA on 8/1/05 2:38pm
Msg #56197

I was suppose to do one of those this morning. The borrowers are my neighbor and so is the loan officer, so we just did it at the borrowers house.

Reply by taxpro on 8/1/05 2:53pm
Msg #56199

Bank of America is one of the banks that is now having their loans witnessed by outside notaries. It has something to do with conflict of interest. If the notary works for the lender, the borrower could later say he was coerced into signing something by the lender, if they didn't have an outside, uninterested party witness the signing. I've done two at Bank of America. Both times, the loan officer at the bank was very helpful and cooperative, and gave me his office to use. They even seemed appreciative that I was there to do it. I guess they're just glad to get the loan signed.

Reply by Sylvia_FL on 8/1/05 4:45pm
Msg #56235

I just did one at a BOA office, it was a purchase loan for LSI.
Bank manager was very nice and showed us to a nice office and left us alone.

I have also done them at World savings Bank offices and same thing, they set us in an office and leave us alone.

Reply by taxpro on 8/1/05 4:59pm
Msg #56239

Both of mine were purchase loans from LSI, also.

Reply by BP/WV on 8/2/05 6:23am
Msg #56342

Were you contracted by BOA directly? just curious

Reply by Leslie- Mo on 8/1/05 5:21pm
Msg #56245

Thanks for all the input. It was a Bank of America loan. The loan officer wasn't there but the borrower and I were given an office to use for the closing.

Thirty minutes before the signing, I got a call telling me to wait for a new HUD. Twenty minutes before the signing I was sent a new HUD, note, DOT & TIL so I ended up being a few minutes late.

The reason for the change was to lower the amount the borrower had to pay at the table - but since I didn't have time to review the new docs didn't realize the way they lowered the amount was to make the 1st payment date change from 10/1 to 9/1. The borrower signed but wasn't happy cause he actually thought he had money coming back and doesn't want his first payment that soon. It may turn out to be my first loan that gets rescinded.

Reply by Shannon/Va on 8/1/05 5:36pm
Msg #56249

Household Bank and CitiFinancials fo that in my area. Go to the branches and close em. No download of docs, no making copies, no sending out the packages. It is great. SOmething about a neutral party having to close them. Cool at $100 a pop.

Reply by Leslie - Mo. on 8/1/05 6:45pm
Msg #56260

That sounds great!! Mine was e-docs - 115 X2 and didn't pay $100.