Posted by Victoria/FL on 6/15/05 10:45pm
Msg #45007

Chase Loans

Just curious, due to a message thread earlier this evening - does anyone know how Chase assigns their loans signings? Do they use several different TCs throughout the US depending upon where the loan originates? Are there different offices/department within Chase that would make one loan package different from the other?

The reason I ask, is because I have a SS that has begun sending me Chase Loans, and other than splitting the package and sending part to the lender and another part to TC, they are EASY. It takes me about 30-45 minutes total for each one. No fax backs, only have to copy the HUD so both lender and TC receive copy. Splitting the packing doesn't really take much effort, since I'm simply flipping the documents over into 2 piles instead of one (when re-checking docs). The only thing that may take extra time is filling out an additional overnight air bill.

As I said, just curious, because everyone seems to think that an extra fee should be charged, but I'd take these loans all day long. They're EASY! The borrowers are always knowledgeable and there are no surprises.

So getting an extra fee is great, but why? I don't get it.

Reply by BeccaWI on 6/15/05 10:48pm
Msg #45008

Do they all split or is just most of them? I had one that cancelled on me the other day.

Reply by Victoria_FL on 6/15/05 11:02pm
Msg #45011

All the Chase Loans I have done are split. From discussion on the board, it seems as though the packages vary - except all mine have been exactly the same. I'm trying to figure out if there are different processing centers that prepare the packages or just one.

Reply by Grammy824 on 6/15/05 10:50pm
Msg #45010

You are lucky that yours are so easy. Did you read my post to you earlier? My closing this evening took forever. There were so many duplications of documents that I'm not sure what goes where. How many copies does Chase require you to send back to them? The title company is asking for a DOT and the only DOTs are in Chase's package, not the title company's package. When you separate the copies, how many do you send to the title company and how many do you send back to Chase? Please help. I have to express these packages out in the AM. Thanks.

Reply by JanetK/CA on 6/15/05 11:18pm
Msg #45014

The only way to make sure it gets done the way they want it, is to call your contact in the morning. Some one else's opinion may be based on a different client and is only their understanding of what they were told. I think you're better off getting the straight scoop from the source!

Also, to the original poster regarding whether or not to add an additional fee, that depends on what *your* initial fee is to start with. We all have to decide for ourselves what is worth it and what isn't.

Reply by Victoria/FL on 6/15/05 11:49pm
Msg #45019

I agree -

I spoke with Granny824 and told her what "my instructions" indicated, but that she needed to call the person who hired her to make sure what they wanted.

Reply by Ernest_CT on 6/16/05 12:29am
Msg #45032

(sigh) Only your contact can tell you what is right! n/m

Reply by Joan-OH on 6/15/05 11:41pm
Msg #45016

I could do Chase all day long.

For me, Chase PA is always split. Title docs to title company, Lender docs to Chase with the exception of only one Mortgage goes to Chase and 1 or more goes to title and the HUD is duplicated and split. Unnerving at first, but easy once you figure it out.

Chase OH all goes back to title.

All Chase offices have different procedures and I have gotten them through various title companies and signing services. I remember my first split Chase. I was on the phone with Sylvia @ Midnight trying to figure out what goes to who (Thanks Sylvia)

Joan-OH

Reply by Victoria/FL on 6/15/05 11:47pm
Msg #45017

Thanks - that explains it!

There are different Chase divisions - all of mine come from Chase PA. I couldn't figure out what all the commotion was about for charging extra.