Posted by ericashaw on 10/26/06 7:44pm
Msg #155313
is this fishy
I just finish printing the docs on a refi of almost a million dollars. Title company calls and says the HUD is wrong, they still want to close tonight, and escrow dept is closed for the night, and to take it out so he doesn't see it and freak out. Is that OK for me to go and act like it is all OK?
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Reply by Linda_H/FL on 10/26/06 7:50pm
Msg #155314
Re: You can't close without a HUD..
There are certain docs they MUST receive at closing - TIL, HUD, RTC, Note, Deed/Mortgage. In a word - no..you can't close
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Reply by ericashaw on 10/26/06 7:56pm
Msg #155317
Re: You can't close without a HUD..
I tried to tell the TC that and she made me feel stupid and like I didn't know what I was talking about. I KNEW I was right
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Reply by TitleGalCA on 10/26/06 9:36pm
Msg #155355
Re: You can't close without a HUD..Erica
They will always make you feel stupid, because you are more in tune with the transaction than they are. The pressure on them is to close, close, close. And in most all my exprerience, the TC and the SS just don't care about your challenges as a signing agent - they have the LO/Broker on the phone screaming at them and they just want to make it happen, at all costs, so they put it on you.
If you understand what they are experiencing, it helps you make decisions better. Understand the beast and you can make better decisions. Take the emotion out of it and make a business decision - YOUR business decision.
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Reply by BrendaTx on 10/26/06 10:07pm
Msg #155373
Re: You can't close without a HUD. TitleGal...nice post.
Different view.
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Reply by TitleGalCA on 10/26/06 10:19pm
Msg #155379
Re: You can't close without a HUD. TitleGal...nice post.
It's just true, my friend. You won't find perfection in signings at a TC, they have a different position.
It's not negative or postitive....it just is. If you (as a self-employed SA) understand this, you might have a better attitude and decision making process as a closer for a title company.
I aim to please, Ma'am. Give the other side of the story. Stick up for my weary TC co-workers. They (and the value they bring to real estate) are well worth it. They make it happen - don't ever think there's any other motivation.
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Reply by Becca_FL on 10/26/06 8:46pm
Msg #155337
Re: You can't close without a HUD..Not so Linda n/m
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Reply by ericashaw on 10/26/06 8:01pm
Msg #155320
here is the email
Hey Erica,
Please do not include the HUD settlement statement at signing. It is incorrect but I cant have changes made because escrow has left for the day. He cannot see that HUD. I will send him a corrected one tomorrow as it does not need to be notarized or signed at closing. The borrower does not know of the document but he does know how much cash he is getting. Do not mention that the hud is missing unless he asks. If he has any questions, just call me at
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Reply by Linda_H/FL on 10/26/06 8:07pm
Msg #155321
Re: I'd like to hear from the more experienced SA's here..
I don't think you can close - I would think the first thing this guy is going to ask about is the numbers. I'd like to hear from a more experienced CA notary about this..
Personally - I'd turn it down
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Reply by Linda_H/FL on 10/26/06 8:08pm
Msg #155322
Re: Woops - should be MO Sa's...sorry.. n/m
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Reply by Charles_Ca on 10/26/06 9:26pm
Msg #155353
Linda, its a Federal Document and you won't get anyone more
experienced. I don't understand why this is so difficult for some peole to grasp. You are not doing the closing, you are a mobile notary.
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Reply by BrendaTx on 10/26/06 8:08pm
Msg #155323
Re: here is the email
Erica,
If it were me I would consider the email enough to get me paid.
You certainly have a choice not to go, but Huds are incorrect several times before they are "correct" in many cases. We often get revised huds at the last minute. This time it happened after the EO was gone.
Why are you saying this is "fishy?"
And if it is "fishy" why would you put yourself in to make that judgment call on someone else's loan?
Now, I am not asking these questions to be mean, but to provoke you to think about what you are really doing. You are assuming that you must have the HUD to proceed. Are you now telling the title co. and lender what they should be doing?
*If you think you won't get paid for going, that's one thing. Don't go.* But to decide when a loan gets signed b/c you think it is fishy seems to be taking too much responsibility for the job.
Please take my comments as not condescending but as trying to relieve you of responsibility you don't really need to take on.
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Reply by ericashaw on 10/26/06 8:11pm
Msg #155325
Re: here is the email
You are always so helpful I was only concerned to be involved in something shady. I don't give a crap what they do as long as it doesn't come back on me  I am not worried about them in the least, only me. Brenda you are the greatest
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Reply by BrendaTx on 10/26/06 8:21pm
Msg #155330
Re: here is the email
Erica - this is *my* opinion only.
Until we go to law school, or until we are the LO, or until we are the title co., we should not argue with those who hire us regarding their docs. Not getting paid is my big concern as well as being a by-the-book notary.
The HUD is not a notary issue. And, the way I see it is if the bwr is okay with the deal, that's his business. It is not mine. But of course, the bottom line is getting paid. To me that's your only issue here. You are not responsible for the documents you take to the people. You get them signed correctly and you get a check. That's it.
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Reply by Becca_FL on 10/26/06 8:46pm
Msg #155339
What Brenda said n/m
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Reply by Becca_FL on 10/26/06 8:45pm
Msg #155336
Re: is this fishy...No
I've done closings w/o a HUD before because of similar situations. I don't know about MO, but CA does not require a final HUD until the loan funds. Here in FL we use final HUDs at the table, but a final HUD may not be required in your state or the TCs state.
If you get an email telling you to go w/o a HUD, go w/o a HUD. Always get it in writing, though. The borrower may not want to sign w/o a HUD, but there may be a disbursement statement or a prelim. HUD in the pkg. Let the LO do his/her job and you just worry about doing yours. Remember, it's not up to you to decide what belongs in the pkg.
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Reply by PJM/MI on 10/26/06 8:52pm
Msg #155342
Re: is this fishy...No
I've had many loans where the HUD was sent to the bo after the closing. It is our responsibilty to make sure that certain docs are notarized.. the HUD not being one. For a standard re-fi, there is always the RTC. (unless non-owner occupied).
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Reply by MichiganAl on 10/26/06 11:58pm
Msg #155415
Re: is this fishy...No
I've had plenty of loans where the HUD was wrong. I've seen t.c.s handle it in several different ways. Skip and send a new HUD to borrower, sign it as is and send a correct one before RTC expires, or make corrections on the HUD, initial and sign.
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Reply by PE on 10/26/06 9:00pm
Msg #155345
Brenda is right on as usual do what the boss says and collect your check.
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Reply by ericashaw on 10/26/06 9:41pm
Msg #155360
TY all learn something new everyday n/m
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Reply by Ndwa on 10/27/06 5:39am
Msg #155427
Re: is this fishy...Yes, maybe
Reading from the email post, it's not so fishy, but sound more like a car salesman deceptive tactic. A good honest LO would have forewarn his/her BO of the error/missing hud. I'd bet penny to dollar BO will say the hud is not the first thing LO didn't tell them about.
As TG said, pressure is the key factor. It's not a matter of getting pay or not, but the hardest business decision as to how good of a service provider you are. Success in business is to have and know how to make wise choices and decisions.
My respond here is; I'm obligated to get docs out for BO to sign. Before doing so, I would have confronted LO with the fact that I'm not going to be his/her escape goat lying to BO or keeping my mouth shut until asked b/c a HUD is part of the process. BO are not stupid! How many time do surprises at the table turn out to be fun?
It's a cruel world out there. Your business decision must be firm based on results that will give you standing ground against competitions. Otherwise, it's push and shove.
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