Posted by VERONICA DESCHANEAU on 5/4/06 3:13pm
Msg #117800

Borrower docs on CD

Food for thought-

I have been offering the borrowers a choice as to having their documents printed or put on a CD for easy storage. I give my clients the choice and I do tell them that I will be bringing printed copies of the Note, TIL, HUD and their copies of the Notice of rRght to Cancel. All of them have chosen the CD with minimal paperwork.

I inform the various title companies of what I do and am told that it does not matter, as long as they borrowers get their copies and are satisfied. My fee remains the same, for I am still providing copies to the borrower…just in a different format.

Reply by Ndwa on 5/4/06 3:21pm
Msg #117804

The only draw back with this is you won't have an extra copy available if there ever was a mess up. Unless, you're equiped with a mobile office like I do where I can reprint a form directly from the cd.

Reply by VERONICA DESCHANEAU on 5/4/06 3:25pm
Msg #117806

I have, only one time had to switch the borrowers copies due to a mistake. That has never a been a concern of mine. I had always in the past, printed all loan docs on legal and print borrowers on letter.

Reply by PAW on 5/4/06 3:21pm
Msg #117805

What format are the files in? Do you convert them from how you get them to something else? Interesting concept.

Reply by VERONICA DESCHANEAU on 5/4/06 3:27pm
Msg #117808

I use the pdf file format. I do ask the borrowers if they can open pdf formats. No problems so far.

Reply by Ndwa on 5/4/06 3:33pm
Msg #117812

I use pdf and include a link to down load in the cd as well.

Reply by Charlene Ortiz on 5/4/06 3:39pm
Msg #117814

Countrywide has always provided my loan docs in a cd format for my personal loans with them. I find it so much easier to store. I never thought to do it as a notary. What a great idea!

Reply by PAW on 5/4/06 5:07pm
Msg #117833

What about other file formats?

If you get an elynx, gmd or something other than PDF, what do you do?

Reply by Ndwa on 5/4/06 6:58pm
Msg #117853

Re: What about other file formats?

I was in a rush with my earlier post. Anyway, as with PDF or any other file format, I include the actual setup program/ultility for borrower to install and view the docs if need be, and I also include a readme text file with instruction just in case.

I had a piggy back signing in March at the airport where the borrower was leaving on a business trip. I can't tell you how much this borrower appreciated the cd as it was perfect for him to view the docs privately on his laptop during the flight.

Reply by VERONICA DESCHANEAU on 5/4/06 11:10pm
Msg #117892

ND - I do the same

I have had nothing but positive feedback from the borrowers. Its so much easier to store a disk than it is 150 pages.

Reply by LawrenceOK on 5/5/06 8:21am
Msg #117912

Re: What about other file formats?

Oh come on Paw, are you just kidding with them?? Does PDF distiller ring a bell, or other write to PDF utilities.

Reply by PAW on 5/5/06 8:32am
Msg #117915

Re: What about other file formats?

There are some utilities that will only print to PCL compliant devices. PDF converters, Adobe Acrobat and Distiller (which I have), included. These are the ones that I wonder about. Of course, any application that can print to a Windows driven printer is fair game for PDF "printers". But it's those files and applications that do not use the printer drivers for printing, but print to Raw PCL instead.

Reply by LawrenceOK on 5/5/06 9:02am
Msg #117921

Re: What about other file formats? Yep, your right again!!

And as long as I can save it to my desktop, I can print it to PDF.

Reply by BrendaTx on 5/5/06 9:54am
Msg #117934

When people are tech savvy, I do it as a courtesy. Sometimes they tell me to take their documents back, they don't want the copy. I insist on leaving them for them to destroy. They understand.

Reply by BrendaTx on 5/5/06 9:54am
Msg #117936

Re: Borrower docs on CD - PAW - I print to PDF. n/m

Reply by Anonymous on 5/5/06 10:37am
Msg #117945

Re: Borrower docs on CD - PAW - I print to PDF.

BRENDA IN TEXAS. CAN YOU HELP AGAIN?? IS THERE A GOOD WEBSITE TO GO TO FOR LEARNING THE LAWS ON NOTARY SIGNINGS. I HAVE BEEN GETTING A LOT OF CALLS TO DO NOTARY SIGNINGS FOR TITLE COMPANIES, LENDERS AND REALTORS. DO I NEED MY ESCROW LICENSE TO DO THESE SIGNINGS OR IS A NOTARY LICENSE ACCEPTABLE. I DON'T WANT TO CROSS THAT LINE OF BEING A CLOSER OR ESCROW OFFICER-- I USE TO BE ONE!! IF I AM NOTARIZING THE PAPERS ONLY... I CAN DO THIS WITH A NOTARY LICENSE ONLY AND AT WHATEVER LOCATION??? I KNOW HQ LOANS HAVE TO BE SIGNED AT PARTICULAR LOCATION... BUT IS THIS THE ONLY TYPE OF LOAN?? ALSO, MY NOTARY LICENSE WAS PURCHASED THROUGH THE COMPANY I WAS WORKING FOR HOW DO I FIND OUT IF IT HAD E&O INSURANCE AND IS THIS REQUIRED FOR A NOTARY SIGNER??

Reply by TnNotary on 5/4/06 5:22pm
Msg #117837

What a great idea.

Reply by AngelinaAZ on 5/4/06 5:57pm
Msg #117844

This is an interesting concept...

I don't know if I live in Suspiciousville or what but I have had borrowers occasionally 'verify' their copies as we go through. Has anyone asked to pull it up on their computer while you are there?

Reply by NCLisa on 5/4/06 6:49pm
Msg #117851

That is a great idea. And the cost of cd's is so low these days, it should save money on paper, toner, and wear & tear on the printer.

I have Adobe 7 Pro, and from any program, print to adobe, and it spits out a pdf file instead of going to the printer. Works with Elynx too.

Reply by John_NorCal on 5/4/06 7:01pm
Msg #117854

Re: Great idea Veronica!

Do you by chance make an extra copy of the RTC since that is the one that is usually signed in error?

Reply by Ndwa on 5/4/06 7:04pm
Msg #117856

John

I do give borrowers hard copy of the HUD, TIL and RTC.

Reply by John_NorCal on 5/4/06 7:10pm
Msg #117858

Re: Looks like something that I will explore. Thanks! n/m

Reply by VERONICA DESCHANEAU on 5/4/06 11:14pm
Msg #117893

Re: Great idea Veronica! Was not my idea

I must give credit where creidit is due. BP/WV came up with the idea, not me. As far as the RTC, no i do not make any additonal copies. If a mistake is made on the RTC, it gets corrected with a line through mistake and initialed.

Reply by LkArrowhd/CA on 5/4/06 7:36pm
Msg #117861

Re: Borrower docs on CD...... love this idea...... n/m

Reply by DMARTZ_IN on 5/4/06 7:37pm
Msg #117862

I have a title company that we due business with out of ohio that always sends doc's overnite and borrowers copy is on CD.

Reply by Nicole_NCali on 5/5/06 11:21am
Msg #117959

Do you ask the B prior to the appointment?

Do you ask the borrower if they would like their copy on a cd or would they like a paper copy prior to the appointment? Have you used this as a marketing tool for title companies?