Posted by Calnotary on 4/25/07 1:52pm
Msg #186915

HSBC Loans question.

I have this loan that has 2 DOTs, 2 Notes,2 everything. It is not a pibbyback(lol) I called the hiring entity and they said to execute them all. At first I thought it was lender's and borrower's copies in the same file but apparenty not. Anybody here have recently closed any of these loans? I know Chase have double DOT, but this one has 2 W9,2 4506, etc

Reply by LJ on 4/25/07 2:00pm
Msg #186916

I always do what I'm told. Saves headaches later. Just execute everything in the pkg. You'll be glad you did. There is a method to their madness - I guess??

Reply by marlindog on 4/25/07 2:07pm
Msg #186919

Re: HSBC a lot of work and a little pay they suck n/m

Reply by Calnotary on 4/25/07 2:09pm
Msg #186922

Re: HSBC a lot of work and a little pay they suck

I dont know how much you get from them but I am not doing this for my base fee, I am getting much more than my base fee.

Reply by MasterCloser on 4/25/07 2:28pm
Msg #186929

Re: HSBC a lot of work and a little pay ..VIA IREP? n/m

Reply by Calnotary on 4/25/07 2:52pm
Msg #186935

Re: HSBC a lot of work and a little pay ..VIA IREP?

No, thru a local title company.

Reply by marlindog on 4/25/07 8:32pm
Msg #187007

They offered 65$ no printing. Go branch I said no thanx..... n/m

Reply by Dorothy_MI on 4/25/07 9:47pm
Msg #187024

Re: They offered 65$ no printing. Go branch I said no thanx.....

I take all I can get to go into the branch. You arrive, go through the docs (small package), get signed, have worked checked by LO and branch manager, pick up your stamp, leave, fax report back to IREP and collect a check in about 15 days. And they are all day time appointments and close to home!

Reply by Dennis_IN on 4/26/07 12:09am
Msg #187045

Re: They offered 65$ no printing. Go branch I said no thanx.....

I don't mine 15-20 minute closings that pays quick and close to home. No printing costs and their borrowers are very informed...less problems. And I get more than $65 give me all of them

Reply by sue_pa on 4/26/07 8:35am
Msg #187070

how

do you get them done in 15 to 20 minutes? The borrowers come in, mentions the weather, traffic, etc., LO takes their 'drink order' (although asked repeatedly not to offer beverages as I don't want them near the paperwork), they chit chat w/LO who again tells them what a great job she has done for them, watch a 10 or so minute video, etc. I have found that many times it's 1/2 hour while I sit in the lobby reading 3 year old magazines - although I have been told repeatedly that I am to be there at the appointed time - If nothing else, the notary time should be 15 minutes after the borrower's time. Again, the video takes 10 minutes so that takes 15 minutes until they take their coats off, wiggle into their chairs, someone turns on the tv, says a few pleasantries, etc. No way in the world are they watching the video, signing, you having the docs reviewed in 15 minutes. I agree that perhaps the paperwork itself is 15 minutes - if there are no questions which I have found is VERY seldom. This is $75 in my area with basically no drive time so the few I accept are worth it but again, I'd sure like to do them in 15 minutes. This also doesn't count that they seldom have a second form of id ready - you know, the LO apparently doesn't know about it since they never tell the people and they have to root or go to the car for the registration - and they always need the phone book because they haven't been told to have references ready. 15 minutes? Maybe but probably not.

Reply by BrendaTx on 4/26/07 8:58am
Msg #187073

Re: how - yep...takes longer than 15-20 min n/m

Reply by SharonMN on 4/26/07 9:55am
Msg #187088

I haven't closed any of these, but the borrower should never be signing 2 notes. If they do, they are borrowing the money twice!

Reply by sue_pa on 4/26/07 10:09am
Msg #187093

While I personally agree they shouldn't be signing 2 Notes, it's none of our business. If the lender wants it and the borrower doesn't fuss, just get it signed.

And they aren't borrowing the $$$ twice, the lender would have to show that they actually disbursed the money 2 times and the borrower received 2 times the amount of the loan.