Posted by Nicole_NCali on 6/16/05 6:55pm
Msg #45316

What to do with PIA borrowers

Synopsis:
I was just reviewing gomobile where there was a thread from a SS-Tom who sent a SA out with documents for one borrower but because B-husband was in a community property state, his wife of course had to sign the security instruments. Yet in this case, the B-wife signed all of the documents, which of course the underwriter rejected because she was and is not the co-borrower on the loan.

My question:

What type of PIA borrowers have you guys come across?

Do you make extra copies of documents with the mindset that some people operate on the level of a toddler, mainly, they are not responsive to directions?

Besides controlling the signing, what are some strategies to keep the ( I use this term lightly) buffoon along the path to a correctly executed loan document?

Nicole-I only have had one experience with someone who was from Pluto (a far distant moon) for the naysayers, it was determined that pluto is a moon a couple of years ago.

Reply by Ernest_CT on 6/16/05 8:23pm
Msg #45346

Control the signing. One document leaves my hands at a time. It gets signed, quickly checked (just a glance!), and the next doc goes out. I'm very, very anal about this procedure.

Reply by Terri Garner on 6/16/05 8:41pm
Msg #45349

What Ernest said, is what I do. I hand the documents one at a time to the borrowers. Further, if I know ahead of time (which is the usual case), I advise the borrowers that there is only the husband or wife is the borrower, but there are a few documents that the spouse will need to sign, otherwise only one signature needed on the docs, etc. That with my controlling the signing but handing out one doc at a time does it for me.

I'm a control freak anyway, I don't like to hand the stack to them and say have at it.

Terri
Lancaster, CA

Reply by Nd_WA on 6/16/05 9:44pm
Msg #45373

What I do is have the nob sign the security docs first then handing all other docs only to the primary borrower to sign. The nob can sit and watch or go do something else.

Reply by Joan-OH on 6/16/05 9:58pm
Msg #45380

I had a lady yesterday who was so PO'd she was purple. I have no idea what she was mad about, but I think it must have been at the husband because she was purple when I walked in & I wasn't late.

He hands me copies of their ID. I tell him I need to see the originals. He takes his out of his wallet and she demands to know why. I tell her I have to notarize her and I must see the original ID. She stomps out of the room to get it while I set up.

While I'm setting up, I notice she has a black, felt tip pen at her seat at the end of a 30 foot conference table. I set it aside and place a blue one in it's place. She walks in, slaps her license down, reaches across the table with a huff and grabs the black pen. I tell her I need her to use blue on the documents. Again I get a huffy "Why!?" I tell her the lender requires blue ink be used. She threw the felt tip pen across the 30 foot conference table. I looked across at her husband and he looked like he wanted to disappear. I ignored her antics and proceeded with the signing. I really didn't expect to get through it before she either reached across the table to choke him or wigged out. I'm not kidding, I've never seen a purple person.

Gosh I hope he was refinancing to buy her out cause she was a real piece of work!

Joan-OH