Posted by CarolynCO on 1/19/06 3:45pm
Msg #89641
a new one ...
Did a signing last Friday evening. Yesterday I received a call from TC asking me to go back to BOs and get a handwritten affidavit as to the reason BOs requested a higher interest rate. They sent me the specific language BOs were to use, and instructed me not to type it and reitterated again that it had to be in their own handwriting.
I was getting paid quite handsomely for this second trip. TC told me they had already scheduled the appointment for this morning, but last night I wanted to verify with BOs that Mr. was home because I knew he left on Sunday, as he's an over-the-road trucker. Mrs. told me that she had contacted him and he was changing his schedule so he could be home to sign this new piece of paper.
When I showed up this morning, Mr. opened the door and was dragging pretty good as he'd only gotten home an hour before. When I handed them the faxed wording they were supposed to usee and then write their explanation, they asked me what it meant because they never requested a rate increase -- they questioned whether it was referring to the loan amount or the interest rate and in the same breath and movement, he was calling the LO.
LO didn't know what he was talking about and asked to speak to me. I just live for the day when that happens! I told him who I had spoken with at the TC and read him the requested language and he was still in the dark. When he called back, it turned out that TC was requesting this affidavit to cover their rear end. In the preliminary docs the interest rate was *.22% and in the final docs it was *.44%. Apparently, BOs and LO were expecting the appraisal of the house to be roughly $10,000 higher than it was -- thus the rate in the prelim. docs. After the appraisal fell short, the interest rate was increased, and TC, whether it was for audit purposes or what, needed this handwritten affidavit.
|
Reply by Charles_Ca on 1/19/06 4:35pm
Msg #89676
Re: a new one ...That's tough, however I do special
accommodations for a number of companies and they usually pay extremely well. If handled with tact, diplomacy and control it is excellent income. If one can't remain cool in the face of conflict its not something one would be happy with. I've had some extremely unhappy borrowers to deal with.
|
Reply by CarolynCO on 1/19/06 4:51pm
Msg #89685
Re: a new one ...That's tough, however I do special
Of all the people I've met doing signings, I have to put this couple in the top 5. They were/are very nice.
They weren't upset or anything -- they just didn't know what the affidavit they were supposed to handwrite was for because they didn't ask for an increase in the loan amount and certainly, didn't voluntarily, ask for an increased interest rate.
Even the LO was cordial and didn't speak down to me.
The main reason I posted was because I've never had the situation where an affidavit was needed because the final interest rate changed from the preliminary interest rate. For that matter, I don't think I've ever done a signing where the interest rate changed. Just thought it was interesting.
|
