Posted by Calnotary on 3/30/06 7:40pm
Msg #109917

Countrywide

Anybody noticed this month that this lender increased their already big packages to an exorbitant amount of pages. I did a 1st and 2nd loan and it had exactly 600 pages. No much profit on the e doc fee,
do you charge the same 25 dollars fee for each loan even though its countrywide?

Reply by Negrete on 3/30/06 7:44pm
Msg #109919

I have noticed that with the CW loans also.

Anthony J Negrete
Negrete's Notary Service Inc.

Reply by Lisa Prestegard on 3/30/06 7:48pm
Msg #109920

I do 20-30 CW loans each month. Depending on the branch and the underwriter, my packages are between 70-125 pages for the same simple ARM refinance (before escrow docs).
I think it's an underwriter call (?)

Reply by TitleGalCA on 3/30/06 10:25pm
Msg #109963

Cal, CW is getting hideous about the number of pages. If I'm not doing the signing, I have to review the instructions for endorsements, normally a skim read. Lately, it's a real hunt to figure it out.

If they don't tell me, simply and without a microscope, they are getting every flippin endorsement I offer, and the borrower is charged for it. I'm in the business of issuing title policies/endorsements; if lender can't be specific...oh well.

I love the sentence..."please issue state mandated endorsements". Huh? How about..."please tell me what you want".

Very frustrating. I love the "book" of lender instructions, complete with a table of contents. Please, no one needs 28 pages of instructions.

Reply by Jenny_CA on 3/30/06 11:35pm
Msg #109974

Re: Countrywide 125pp!!!

I've been getting 141pp and up! never knew there was less!

Reply by MelissaM_FL on 3/31/06 6:30am
Msg #109995

I've taken to pulling the book to the back of the package on CW loans and not having the borrower initial them. However, I had one the other night where CW had the instructions in their set, then the title company included a full copy in their set as well.

At the table, the borrowers were surprised when I said "Ok, you're done" with more than 50 pages still in the stack. Thank goodness I caught that there were two sets before I copied them! What a waste of paper!

I always print one set of the lender's closing instructions, assuming that someone at title might need them and that I might need some information from them in some alternate universe.

Reply by Becca_FL on 3/31/06 7:00am
Msg #109998

I quit printing out the 25-30 pages (per loan) of lenders instructions on the CW loans I do. The lenders instructions are for the Title Company not the Notary or the borrower. The TC generally receives the lenders closing instructions prior to drawing up the HUD so they should already have a copy in their file.

I did 7 CW piggybacks last month and started doing this on the third one I did. I have not had one complaint, but did clear it with the powers that be before omiting the instructions. It was either pay me more for a huge waste of ink and paper or let me omit the 100 pgs per pkg.

Reply by hcampersFL on 3/31/06 7:10am
Msg #110000

Good advice Becca and Melissa. n/m

Reply by Jenny_CA on 3/31/06 10:16am
Msg #110038

there is a SS in SO CAli that per the split package instructions wants and additional copy of the closing instructions. Both the lender and the TC will have their own set shipped to them along with the other docs.

Reply by Jersey_Boy on 3/31/06 10:41am
Msg #110046

I am probably going to get yelled at for telling you guys this, but I have been doing 10 to 25 countrywide loans per month for a local attorney. Never once have I seen the package go more than 95 pages and that includes the 25 pages of instructions.

Gosh... hope I never see a package the size you guys are talking about...

Reply by Brenda/CA on 3/31/06 10:50am
Msg #110050

I do quite a few Countrywides for one of the companies I work with. They are usually 95-135 pages, with only the DOT to notarize, and contain 24 pages of closing instructions.