Posted by ItsMe123 on 6/24/05 12:23am
Msg #47348

Surprise--there are closing docs in my email

Well 2 weeks ago I get a call for a signing that was to occur today. I schedule it in my book and wait for confirmation which was promised when I accepted the assignment. If I hadn't immediately written this one down I would have forgotten it. I called 2 times, in one call I spoke with someone who could not find a record of the loan (two days after scheduling) and the other call (placed yesterday no less) I left a VM stating I didn't have a confirmation. I stated I required a call back or an email by business end if they still needed me---I stated with no contact I could not commit to the closing. I left both my numbers and spelled out my email. No call--no email. This evening I get home (9pm,) and there are the docs in my email. I call--no answer, I leave a message. I call the borrowers and told them there was a "delay in scheduling" and explained I could come late---this signing was to go at 2pm and of course they were wondering. They said they called their LO around 3 and he was out for the day and noone, they were told noone, was avaliable to help them. I was shellshocked at that---totally shellshocked. After that call I am really wondering what I should do. I call again but noone is in anywhere. I am wondering if the principles actually wanted this loan signed down but I am thinking that they must if they sent docs. I did close the loan because I felt it was the right thing to do in respect to the borrowers. I will be placing a call and I will talk with someone tomorrow AM. I still have no confirmation nor do I have an account number to send these docs back. I already of course see my chances of getting payment to be 3 shots to the wind without considerable hassle but in all honesty the thought of this is not what has me angered the most. Just exactly would you express in such a call? I have never had even something close to this situation thus far. What do you think? Did I do the right thing and have it closed? What would have you done?

I feel they are very very lucky that I did go out and close it.

Reply by Jenni on 6/24/05 1:38am
Msg #47357

I feel you did the right thing. Call escrow tomorrow to get an account number to ship them with and verify the address that they need to be sent. I would check the Hud, put my bill in the enevelope so you can be paid thru escrow. Print out the email, it will show the date and time you were sent the docs.

Reply by Nd_WA on 6/24/05 3:01am
Msg #47369

Attach an invoice with the doc and the amount you deserved/agreed to be paid for this closing. I'd be hesitant to work with an ss if there is no confirmation, but I'd take my chances with LO/BKR. I think LO/BKR do not want to bind themselves with a confirmation or contract to pay if for some reasons the loan fail through. From personal experience, I never had a problem with this kind of dealing b/c I've always been paid.

Do what's right, keep feeding the pipe without doubts.

Reply by CaliNotary on 6/24/05 5:17am
Msg #47380

I wouldn't have gone out and closed the loan. Most of the loans I do are not date sensitive, so why feel bad for the borrowers? If they were screwed it certainly wasn't because of anything you did. I refuse to put myself out to an unreasonable level just to fix the screwups of incompetent loan officers.

Reply by sheila in san jose ca on 6/24/05 8:31am
Msg #47401

just curious, what types of loans are not date sensitive?

Reply by PAW_Fl on 6/24/05 8:37am
Msg #47404

Any loan that has an effective date (funding date or closing date) sometime way in the future (well past the three day rescission) can be considered as not being date sensitive. It is a lender's call. But typically, most refi's are date sensitive as the settlement date is the fourth day after signing date. The biggest exception is a HELOC that does not have a cash out option. It is just establishing an open ended line of credit (like a credit card), so wouldn't need to fund on a particular date.

Reply by sheila in san jose ca on 6/24/05 8:42am
Msg #47407

I never stopped to think about this before, but it makes sense, Thanks for the info

Reply by CaliNotary on 6/24/05 2:13pm
Msg #47502

I've had plenty of refi's where the borrower wasn't available to sign on the date requested and was told it was no problem to do it a day or two later with the same docs. Obviously they're date sensitive to a certain degree, wouldn't be able to use the same docs 6 months later, but in my experience it's usually not a big deal if they're signed a day or two later.

And if the lender had to draw up new docs because of this situation, oh well, they should have had their act together in the first place. Still nothing I would concern myself with.