Posted by Kevin Thrasher on 10/14/05 11:39am
Msg #70496

last minute closings

I usually don't take last minute closings unless it has been a slow month. If I do take them, I contact the borrower immediately to find out the usual info and whether this loan has tried to be closed before. If the borrower tells me yes, I ask what was wrong the first time. Let's say the HUD. Then I call the SS or Title and ask if the mistakes from the first attempt had been corrected. When I get the HUD, I call the borrower and ask if it is correct according to what was to be corrected. If they say no, I call the SS or Title co and tell them they have a problem and work it out with the client before I leave the house. Just thought I'd share something I've learned to do to cut down on the grief.

Reply by Kath_CA on 10/14/05 11:48am
Msg #70497

You're exactly right, Kevin. Had a last minute closing and found out when I got there that the amount of proceeds to the borrower were not as promised by the LO. Borrower was going to cancel the signing, but I reminded them of the RTC and we continued. Going over that info w/borrower before leaving the house is very good advice.

Reply by Hank_VA on 10/14/05 5:10pm
Msg #70554

Last minute signings have caused me nothing but trouble. So my new rule is I never take an assignment with less than a 5 hour window and documents are e-mail to me within a 3 hour timeframe, no matter how much they offer. Not worth the grief for me.

Hank