Posted by MsRobboPA on 7/17/05 2:57pm
Msg #52812

Closings for Home Loan Center

Anyone ever close for them. They require two personal/confidential info docs about the borrowers and only one needs to be notarized. Does anyone think that the one that doesn't need a notary signature should be mailed to them ahead of time and it can be gone over with the borrowers??? Just a suggestion for saving the borrowers alot of time and agg. Every one that I have done the borrowers have problems with this form.

Reply by SheilaSJCA on 7/17/05 3:23pm
Msg #52816

Re: Closings for Home Loan Center-good explanation of SI

If you are talking about the statement of information that many title companies need for their use. I usually have this explanation on hand, as given to my by one of my favorite title companies. "There really is a reason for your request for you to fill out this statement of information. We don't want you to think that we are unnecessarily interested in your personal affairs. we have been askd to insure the title to real property in which you are interested, and if you give us the information called for, it will help us do our job quickly and accurately. All information will be treated as confidential.
Our states population is growing rapidly. Please think for a moment how many of our residents have the same or similar names. In processing your order we will inevitably encounter judgements, bankruptcies, divorces, income tax liens against persons whose names are in some way similiar to yours. Such matters must be considered unless eliminated by information showing you are not the person involved in these difficulties. You see, then, that we need to know something about you and your spouse, if you are married, so that we may ignore all matters not directly related to you or your property.
By completing this form in full, you are helping to make it possible for us to give you the kind of sevice we are sure you would like to receive."
(ps. they are often mailed to clients ahead of time, but often, they are not returned, so they are filled out in escrow)

Reply by sue on 7/19/05 7:28am
Msg #53062

Re: Closings for Home Loan Center-good explanation of SI

That is a CA explaination and not a PA one. In PA, that form will never clear a judgment. If there is a judgment against someone with a similar name they will be executing a specific affidavit refuting the judgment. How knowing where someone worked 10 years ago is going to clear a judgment I've never been able to figure out.

Reply by bdinn_AZ on 7/17/05 7:27pm
Msg #52835

Have the borrowers fill out this statement of information at the end of the signing and while they are doing that you can go over the docs and check for missing sigs, dates, etc.