Posted by Margaret_FL on 12/22/05 7:17pm
Msg #84230

The is a new one

I am doing purchase closings for a condo conversion. 99% of the loans are Countrywide or Full Spectrum.
We have been giving out the keys the day of closing. Now after a closing we have to go to Kinkos, make 2 copies of the entire loan package and certify the copys. Then we have to split the package and send originals, Hud, title documents, copy of ID to title company and the 2 certified copies of loan package along with another copy of ID to Countrywide and the Cond project can not give out the keys until it funds.
I have a closing tomorrow where the people are showing up with the movers for their 8:30am closing. They do not know this yet, I have to tell them that. I have been given the name of the person at Countrywide that is responsible for this change in policy.

Reply by ReneeK_MI on 12/23/05 4:10am
Msg #84316

Sounds to me like someone got their keys - and then loan didn't fund. Then the policy makers got smarter.

That's flat-out not fair to put YOU in the role of messenger ... I'm hoping you were at least able to contact these buyers last night =(

Reply by Margaret_FL on 12/23/05 12:53pm
Msg #84412

You got it. I got the people calmed down after I also had to tell them that I needed 584.00 down. They were in route to Florida and they had no cell phone. Not able to be contacted. They said they were told $30,000, and now it was 30,584.00 down payment. The wife said we are paying $30,000 and thats it.
Well, I just told them the closing would not happen today if I did not get the entire $30,584.00. Also they were planning on giving me a personal check. They were told, and the lender faxed over the GFE and it said $31,000 and they signed it. Well we were able to close the loan and lender came by to pickup documents, I had to give them the originals and make 2 certified copies and make 1 copy of everything for the title company(Certified) So they could fund today,Wow,and my day is still not over, I have 2 more closing. I am being paid well for my time and effort, the lender and the title company were amazed how I calmed her down. The wife called the lo and F****B***. After I talked to her that if she treated me like that, the loan would not close for sure. I was told by lender and title company that I did not have to take her c***. We have buyers lined up to pay cash.