Posted by Charm_AL on 11/30/05 1:58pm
Msg #79282

cancellations....

Wow, I have had a cancel or two in the last year. But I've never seen anything like this! This week alone, and today is only Wednesday, I've had 5 out of 7 cancels! What the heck is going on?

Reply by Nd_WA on 11/30/05 2:12pm
Msg #79287

Rate goes up, brokers want to keep their profit margin by not giving (A grade) borrowers a break (numbers on paper not as discussed).

Reply by Anonymous on 11/30/05 2:22pm
Msg #79290

How do you know the borrower actually cancelled? Is any documentation provided to you?

I've haven't had one cancel yet, but I've always wondered how I would know for certain if the loan was cancelled or if the title/signing company was just trying to short me.

Reply by Anonymous on 11/30/05 2:36pm
Msg #79292

I've have called the borrowers and confirmed that it was cancelled. Last time I did that they said oh I guess they have a different notary coming. So they found someone cheaper.

Reply by CarolynCO on 11/30/05 2:43pm
Msg #79293

Re: Another indication

that the SS/TC found someone who lowballed your price after their initial call, is if you never receive an e-mail or faxed confirmation or any other phone call from them concerning the scheduled signing, or if you call and ask the status of the signing, their reply is that it canceled.

Reply by level5CA on 11/30/05 7:27pm
Msg #79391

Re: Another indication

Are you talking at cancelling during the signing on the RTC? I still charge my full fee even if they cancel. It's not my fault the borrower's have "changed" their mind, right?

Reply by Glenn Strickler on 11/30/05 8:17pm
Msg #79396

Re: Another indication

My bet is they are finding a loballer.

Reply by Stamper_WI on 11/30/05 9:22pm
Msg #79404

Slow paper work

Had one cancel on me tonight because the doc's never got here via e doc's. . The ss all went home, the borrowers LO went home and I think the TC wanted to go home. Fortunately I am home and its snowing and 20 degrees out! This original time was for 6:30, then 8 then whenever.

Reply by CarolynCO on 11/30/05 9:24pm
Msg #79406

Re: Another indication

No, I'm talking about them calling to see if you can do the signing and once fee is agreed upon, the confirmation nor docs are ever received -- or, they call back and tell you the loan was canceled -- i.e., signing given to a low-baller SA.