Posted by John McDermott on 6/21/06 8:13pm
Msg #127394

7 Hours to close


Did a closing for a title company for Full Spectrum Lending. Appointment was set for 7pm, got title docs at 6:30. Then waited until 9:30pm for the Mortgage docs, they were being sent by Full Spectrum. Printed out and went all the documents were dated for the 12th we closed on the 20th. I had to make the corrections on the fly. Got to the appointment a little after 10pm, of course he was signing a fixed rate with very little in closing cost and the paper work was an adjustable with higher fees. About 11:30 pm this finally closed. Of course the L/O or the title company was nowhere to be found during the closing. Most likely he will cancel. Faxed the docs back that night, dropped docs at 2pm. Heard from the TC at 2:30 saying I missed a correction. One date correction was missed it is my fault but hey if the docs had the right date this would have happened.(can they cut my fee?) We agreed that the TC will contact borrower and they will make the correction. Since this was a 4 ½ hour closing should I charge more the base fee and print doc fee? Also this was suppose to close last Friday at 7pm, waited until 9pm with no docs should i charge for that? Thanks for any input.

Reply by Anonymous on 6/21/06 9:08pm
Msg #127402

Sounds like a normal Country Wide Full Spectrum Closing

Too me.

Reply by JS_MD on 6/21/06 11:03pm
Msg #127448

Re: Sounds like a normal Country Wide Full Spectrum Closing

Bet you are right anon..... I will no longer handle CW at the EOM..... they are more trouble than they are worth.

Reply by BetsyMI on 6/22/06 2:36pm
Msg #127629

Re: Sounds like a normal Country Wide Full Spectrum Closing

I just don't get it about Countrywide Full Spectrums. I've heard horror stories here about how big the packages are, how much trouble, lots of faxbacks, split packages. I was leary of accepting one until I got one from a TC who insisted there were no faxbacks and no split package. I accepted the closing and it turned out to be a normal size package (less than 100 pages X2), no problems, and I was glad I took the assignment for a very nice fee.

Why is it that in some cases they are bigger packages and more trouble than others if they're all CW FS?