Posted by Blueink_CA on 12/21/06 10:03pm
Msg #167306

Question on signing a piggyback

So we have one loan that's acceptable to borrowers, and one that's not. Do we have them sign the one? or wait until the other is redrawn and sign them both at the same time? Of course, as usual, this came up after hours with no contact available.

Reply by John_NorCal on 12/21/06 10:35pm
Msg #167309

Personally, I would have them go ahead and sign the one that is acceptable. If for some reason that isn't acceptable to the lender, due to funding issues, etc, then they can always redraw docs. Either way you would or should be paid for 2 trips.

Reply by Bob_Chicago on 12/21/06 11:28pm
Msg #167319

Caution, sometimes the funds from the second are....

needed due to a cash shortfall from the first. Check the HUD(s)

Reply by Blueink_CA on 12/22/06 12:22am
Msg #167324

Re: Caution, sometimes the funds from the second are....

Bob, you are right. Why didn't I think to check the HUD(S)? The answer was right in front of me all along. That's what is so great about this forum. Sometimes it takes a nudge to see the obvious. Thanks guys!