Posted by MA_SA on 12/30/05 9:55am
Msg #85269

Process Question...

Ok,

How does this whole process work with the Title Co.'s? Who is involved? From what i can gather, a mortgage company gets a loan, who then sends it to a title co. to close, who then finds a signing service to have it signed, who then finds a notary to sign the docs...am i far off?

Brian

Reply by Blueink_CA on 12/30/05 11:58am
Msg #85290

Hi Brian,

I remember a post awhile back that explained the process very well. Maybe someone else can give you the thread #. However, it seems you pretty much summed it up. I was caught in the "who said what" crossfire just last night.

When I arrived at my appt., Mr Bo met me at the door, said docs were wrong, had to be redrawn, he had just gotten off the phone with LO. I left and informed SS. Half way home, I get a call from Escrow. It was a misunderstanding, go back, bo will sign. I turn around and call Mr Bo to let him know I'm on my way (again). "Oh, do you have the new docs?" Hmmm, do I have an email waiting for me at home? At this point I pull into a parking lot and call SS. SS asks me to wait until she calls Escrow. SS calls me back, says Mr Bo has been informed that he is to sign the original docs. I once again call Mr Bo to say I'm on my way. Again, "Did you get the new docs?" He gives me LO phone #, LO transfers me to LP who says she will call Mr Bo. The docs I have are correct.

By now it's 5:00pm and I'm still in a business parking lot. The employees are leaving and staring at me so I decide to start toward Mr Bo again. His line is busy. I get to his house and was welcomed. He signed without incident.

I'm beginning to think seriously about a mobile office set up. At least a portable device which I can check my Email.

Reply by SSEmobile on 12/30/05 12:07pm
Msg #85293

>I'm beginning to think seriously about a mobile office set up.
>At least a portable device which I can check my Email.

I have been doing the same thinking lately.

A notebook computer with a Verison connection, my standby single tray laser in a covered platform in the back seat ............ it would save me those times where it's impossible to go back to the office and still have time to make the next appointment!!

It can't be that hard to set up as long as you have a connection to the internet. No doubt, if your office is really busy, it could pay for itself in very little time ........

Reply by Janet Angi on 12/30/05 12:17pm
Msg #85297

The loan first is applied for. Then it goes to Title Company to search the property. (this is important step). Then it goes for approval. Then back to to the title company to make sure it can achieve clear title or place it in the correct position. Then it goes to Closing. Then the doc are signed. Then returned to Title for a search again to make sure that no other loan has jump ahead. then recording. Then it returned to Lender.

I have been in the Title and Closing Business for over 10 years.

I hope this helps.

Reply by ReneeK_MI on 12/31/05 4:18am
Msg #85428

Search #65979 for detailed process

I spent some time on that one - see my post on that thread =)

It helps so much to know who originates what doc, who is responsible for which part, so you can go straight to the source when you need to. It also helps in countless ways, to have a good understanding of the entire process - as THAT helps bring understanding and empathy for the frustrations, errors, time constraints, confusion, etc.