Posted by CaSigner on 5/21/05 12:55pm
Msg #39516

ETitle -DeepGreen Financial - need help "Closing Instructio

This is my first for DeepGreen. For those of you who have done work with ETitle. I have Closing Instructions from DeepGreen Financial. On the closing instructions it reads under Step Three - Proof of Insurance that I need to "Obtain the following documentation from the borrowers": 1. Proof of homeowner's insurance 2. Proof of Flood Insurance. It also states that DeepGreen and it's address needs to be added to these policies. Question: Am I to collect a copy of these two documents and return them with the loan package? If so, does the borrower know this and do they normally have DeeprGreen reflected on these policies? Any other "inside" knowledge you may want to share would be helpful. I believe they are one of the most detailed I have come across.

Reply by Sylvia_FL on 5/21/05 1:11pm
Msg #39519

Those very well maybe closing instructions for the title company and not for the notary.

Reply by CaSigner on 5/21/05 1:51pm
Msg #39523

That is exactly what I thought at first but then why did the the signing service (Etitle) fax it to me along with the order confirmation? Also, the title of the page is called "Closing Instructions for Closing Agent" and the part three I am referring to is and I quote "to be conducted during the closing". Step four is also to be conducted during the closing and it states to gather the required signatures (which is where I come in).

Reply by Roger/OH on 5/21/05 2:11pm
Msg #39524

DeepGreen is usually pretty good about informing borrowers about their particular ID and supplemental requirements, and borrowers will usually have the insurance declarations page ready for you. That closing instructions page needs to be completed/checked off, and signed by both you and the borrower (very important, or E-Title WILL ding you).

Also, ensure BEFORE you go out that the borrower's name AND street address are printed correctly; DeepGreen does NOT allow corrections to docs, and if there's even ONE letter or number out of place they will have to redraw docs and reschedule signing.

Reply by CaSigner on 5/21/05 2:53pm
Msg #39527

Roger / OH

You seem to know what your talking about except I don't see any place to have the borrowers sign. On the "Closing Instructions for Closing Agent" from DeepGreen, it states at the top the Borrower's Name and Account number (both are blank) but no where do I see a signiture place. Also, am I to collect the above mentioned homeowners and flood insurance policies?

Reply by ERNA_CA on 5/21/05 4:02pm
Msg #39534

Re: Roger / OH

We are not closing agents but signing agents. Those instructions sound like they are for the closer at excrow co.

Reply by Roger/OH on 5/21/05 4:12pm
Msg #39536

CA Signer...

I was referring to the checklist in the package (usually one of the first pages) that has to be checked off and signed by both you and the borrowers. On it you have to verify you checked their primary ID, SS card, a utility bill, and that the copy of the their insurance page is enclosed with the package. In some cases the borrowers will have already provided this insurance page to their LO, but if not, they should have a copy of it for you to return (the flood insurance one too, if it's applicable).

Reply by ERNA_CA on 5/21/05 4:18pm
Msg #39538

Re: CA Signer...

I have never had to collect insurance policies. Only name and number of insurance agent and police number. Lenders are all different, if they are asking you to collect all this, they should make the borrower aware so as to have it all ready when you turn up. Can take quit some time to dig up old insurance policies, specially if the person is not very organized.

Reply by CaSigner on 5/21/05 4:40pm
Msg #39541

re: Erna

When DeepGreen mentions Closing Agent in their instructions the word Notary is always next to it in parenthesis. It says Closing Agent (Notary).

Reply by Roger/OH on 5/21/05 4:57pm
Msg #39542

CA Signer...

And again, they only want a copy of the declarations page summarizing their coverage, not the whole policy. As I indicated, they are usually pretty good about letting the borrowers know beforehand, and in almost every instance they have had it ready for me to return.

Reply by ERNA_CA on 5/21/05 5:26pm
Msg #39544

Re: re: Erna. OK got it cali...thank you.n/m

Reply by JanetK/CA on 5/21/05 5:19pm
Msg #39543

Yes, those instructions are for you. However, I asked Amy M. about that very question and she said that you only need proof of insurance if it is specified on the check list (last page).

Reply by CaSigner on 5/21/05 6:34pm
Msg #39552

O.K.

I guess that was one of my questions. Will there be a check list to let me know if I need to collect any insurance documents, etc. I am just looking off of a blanket closing instructions form that it looks like they send to all their customers. Thanks everyone.

Reply by Bob-Chicago on 5/22/05 11:59am
Msg #39588

Read the document

I do not have one in front of me but the form requiring your sig and the bwr sig has a number of yes/no reqirements, that need to be answered
The one for insurance states , in effect that if the bwr does not have proof of insurance naming DG, they need to send it of have their insurance agent send it to DG in order for their loan to fund. You mark "no" if appllicable , and make sure that the bwr knows what they need to do
Some of the oither yes/no requrement will invalidate the loan in the event of a "no " answer