Posted by MelissaCT on 6/27/06 10:05pm
Msg #129118

Purchase ?

Anyone that can answer this question, I'm very appreciative. I did a purchase, or at least attempted to. I told the company that hired me that I'd never done a purchase before. It is a little different from a refi signing.

Anyway, short story long -- Went to the signing, numbers wrong. Signing adjourned. Rescheduled a few days later. (Evening appointments both times) Got docs (emailed) and it was the same set of documents, but the numbers were corrected. Signed, sent docs back.

Bwr calls me a couple days later to say lender called & dates were wrong. I call the company that hired me & tell them what bwr told me. Bwr wanted to re-sign on Sat (so they didn't have to take MORE time off from work). I email company to offer this reschedule & get an email back saying "How can we sign on Saturday, when I need to fax docs for funding on the same day, and banks will be closed?".

My question is this, maybe I'm confused...appointment scheduled for evening, docs going back overnight, no fax-backs. How is it possible, then, for them to "fax docs for funding on the same day"? Am I missing something???? They sent me the "updated" docs, that had the wrong date (apparently), with no instructions to change the date or anything else.

I'm asking out of curiosity, since I clearly don't understand what happened here. Anyone have any thoughts?

Reply by Becca_FL on 6/27/06 10:30pm
Msg #129125

A purchase is not that different from a refi. Just a few extra docs, two sided HUD w/ prorations and no RTC. Anytime I do a purchase I ask the TC if they will need the funding docs faxed back for a same day funding. You have just learned a lesson and now you know.

I think what happened in your situation was clearly a lack of communication. Some of the biggy TC do have night shifts and if the lender & TC were on the West coast maybe they could have funded the same day. Just a guess, though. Why not ask the TC?

Reply by MelissaCT on 6/28/06 4:48pm
Msg #129387

Thanks for the answer. I did chalk it up to a learning experience, but still don't understand how they could have funded without docs, since the documents wouldn't have been received until the next day regardless. Even with a fax-back, they still wouldn't have docs the same day...Maybe I'm just being dense. I appreciate the info, though.