Posted by NCLisa on 4/7/06 11:35am
Msg #111861
Wachovia RTC's
I haven't done a Wachovia loan closing since January. Just got a package today and the RTC's are now required to be signed by a witness!!
They've annoyed me to no end for the last 2 years with the 1003 (loan app) in the sealed envelope, that they don't expect to be opened. Since my day job has been as a real estate paralegal for the last 6 years, I can say that the attorney has to have a copy of all the signed docs in his file, so why they think the attorney's office isn't going to copy it is beyond belief. I'm sure the title companies copy them too. How can you give the borrower a copy if you don't open the envelope and copy it?
What are these lenders thinking? Especially Wachovia, since they own a portion of Greenlink, so they know many of these closings take place in the borrowers home with no witness around.
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Reply by NCLisa on 4/7/06 8:31pm
Msg #112027
The title company wasn't sure, they hadn't noticed the change. So I called Wachovia, they said the the closer could be the witness, it did not need to be an uninvolved party.
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