Posted by HisHughness on 6/15/06 10:03pm
Msg #126269

Countrywide...ugh!

Called yesterday for a closing this afternoon. When I asked the identity of the lender, and was told it was Countrywide, I immediately told them the fee I had quoted wasn't enough, and bumped it up. They agreed without quibbling. My error: I should have demanded triple the bonus.

This was a closing wherein a couple had lived on the property for seven years under a contract to convey title. They were finally buying the place outright. But they weren't just buying the property: They also were getting cash out, making it a quasi-home equity loan also. A grand total of 151 pages of documents, and the borrowers had to initial every page that was not signed. Naturally, this being a Countrywide loan, there were several miscellaneous documents that were unnecessary, along with several that had two or three different formats -- same document, just arranged differently. The loan had an APR of almost 12%.

In a world which repeatedly elects the like of Tom Delay and Randy Cunningham, I guess there's a place for bottomfeeding lenders.

Reply by MistarellaFL on 6/15/06 10:10pm
Msg #126272

That's gotta be a branch thing.
I just completed one, CW/FS, 110 pages, date stamped,
intial every non-signed page, and was out the door in 45 minutes.
But, it paid a small fortune.
But, I have done them for other branches where their packages are
so absolutely redundant I wanted to cry after being there 1 & 1/2 hours.
Some branches of CW I love working with so much, and with certain
others I (j/k) consider suicide when I find out what they require.
Better luck next time. Have a drink on me, Your Hughness.

Reply by Calnotary on 6/16/06 8:52am
Msg #126306

And some people are doing this loans for 75.00 dollars, e docs!

Reply by PL on 6/16/06 8:59am
Msg #126308

I do agree with you about Countrywide, but I am somewhat puzzled by your last sentence. I often wonder about that world also. I wonder about a world in which an electorate repeatedly elect by some estimates 42% or 288 members of Congress every election cycle who happen to be lawyers. Why do we as a people subject ourselves to that and why do we continue to do it to ourselves? I guess your right, there seems to be plenty of places for bottom feeders mostly who congregate in the halls of power both locally and nationally.
I for one think that this country would be better served by people who seem to care more for the betterment of everyone, not just for the betterment of themselves. For now, I'll start with me and just do the best I can everyday. JMO

Reply by HisHughness on 6/16/06 6:54pm
Msg #126393

PL fires off a load of gripeshot in the direction of lawyers:

>>I wonder about a world in which an electorate repeatedly elect [sic] by some estimates 42% or 288 members of Congress every election cycle who happen to be lawyers. Why do we as a people subject ourselves to that and why do we continue to do it to ourselves?<<

It is not an anomaly that this country does more to guarantee the rights of individual citizens than any other country in the entire history of the world, and at the same time boasts more lawyers per capita than any other country. As a friend of mine once told his doctor, who was complaining about lawyers, "Doc, my professional forebears were writing the Constitution of the United States when your professional forebears were still putting leeches on George Washington's butt."

Say a small prayer of gratitude tonight for those of us who practice before the bar. You might make it a part of that prayer a note of gratitude that you actually are able to pray, thanks to lawyers.

Reply by PAW on 6/16/06 8:43pm
Msg #126402

>>> You might make it a part of that prayer a note of gratitude that you actually are able to pray, thanks to lawyers. <<<

I make it a part of my prayers, a note of gratitude that I can actually be able to pray, thanks to the men and women who fight for and maintain our freedom and rights. I don't know of too many lawyers who have taken up arms in defense of our freedoms lately. Last time I checked, JAG is a non-combatant billet.

I won't go into a political debate on this forum about who should or should not be in Congress or running this country.

Reply by PL on 6/16/06 9:23pm
Msg #126412

Paw I appreciate your comments

I spent 25 years in the service of the US Army and I'll put my faith into my fellow service members to protect the rights of our Republic.

Reply by HisHughness on 6/16/06 11:57pm
Msg #126435

PAW offers:

>>...thanks to the men and women who fight for and maintain our freedom and rights. I don't know of too many lawyers who have taken up arms in defense of our freedoms lately...

Those in arms, of course, constitute a cross-section of our country's occupations, including attorneys, despite the effort to denigrate attorneys. I don't believe that having the ability to accurately lob a grenade conveys any greater understanding of our fundamental liberties than the ability to pick one's nose. Given a choice between a Marine and any civilian to occupy a foxhole, I'd choose the Marine. Given a choice between the same Marine and a lawyer to defend my right to protest injustice by burning a cross, a textbook, a swastika, or an American flag, I'd choose the ACLU, hands down. Which was precisely my point about attorneys as a bastion of our individual liberties. Long may they waive! [Hint: The immediately foregoing was not a misspelling; it was a pun.]