Reply by CJ on 4/9/07 5:07pm
Msg #184359
On my first closing, I got those little post-it stickers and put them all over the docs. It helped them sign better, and it helped me be more familiar with the signature and initial lines. After three jobs like this, I didn't need to do it any more.
I always find the "Note" first. That has what the borrowers want to know: their loan amount and interest rate. If those are right, things should go more smoothly. If they are wrong, no point in signing anything.
TAKE YOUR TIME. Since you only have one job tonight, so what if they read the whole thing: you're not going anywhere any way. That was how I learned about the documents. The borrowes would read each paper and say, "Oh, this just says they might sell the loan". After a few jobs like that, I got the hang of it.
Call your SS and ask them to get you the phone number of someone to call if you get stuck. The SS has seen every problem before, so if you can't answer why the Truth in Lending is different from the Note, they can help you. They will be glad that you called them at 10:00 at night, rather then the borrowers not signing becuse you could not answer a common question.
I would say to call me, but I only know California Law.
Above all: Don't give any advice or opinions. I say, "I need to be careful how I word my answer to your quiestion becuase it is a CRIME for me to give my advice or opinion." It is also a crime to tell them whether or not to sign. If the loan officer tells you to tell them, and the phone to them and let him do it.
If they say, "Why didn't they send someone who knows more?" I say, "That's why they get paid the big bucks. I am just the gopher". Call the SS if you have any questions during the signing.
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