Reply by Roger_OH on 10/26/05 11:30pm
Msg #72545
You can't attempt to interpret what the docs say to the borrowers. You can show them a number, but you won't have knowledge of why the figure is what it is - that's between them and their LO. I certainly wouldn't encourage them to call their LO for every little question while at the table; if it's something major, sure, but I generally emphasize that they have 3 days to pore over the docs, list their questions, and talk to their LO at their leisure during the RTC period. If they don't like what the LO says, then they have the ultimate veto by using their RTC.
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Reply by sue_pa on 10/27/05 7:18am
Msg #72558
borrower's question - why am I getting $13,000 back when I was told $25,000? call to LO required.
borrower's question - if I die does the prepayment penalty kick in? your reply - is that going to be a determining factor in whether or not you take the loan or do you just want to know for future reference. If it's a determining factor call to LO required. If it's for their reference they can call LO after you leave.
post above about an escrow account is NOT a call that needs to be made to the LO because the answer is ini the paperwork right in front of you
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