Posted by Margaret_FL on 8/26/07 3:39pm
Msg #207753

Countrywide

I had a Countrywide closing on Friday that did not go. When we got to the "Important Acknowledgement Concerning Your Loan" document. He was supposed to be going from a 30 year fixed to a 10 year Interest only. The closing stopped and then form tells you not to proceed. I was instructed to call Title first, not loan officer. I called Title and they tried to contact the loan officer. Friday night, he does not answer his cell. Borrower calls Countrywide on his own and talks with someone and they say that they will redo documents and we will close again on Monday. There is also a new affidavit they must sign where it tells them my role as a notary. They also asked me a question regarding my witness which I had asked my husband to meet me at the closing. They said the last notary did not require a witness. I looked up the last refinance and the notary witnessed the mortgage and the second witness signature has the same last name as the notary. It would appear that the notary's husband signed the second witness signature but was not actually at the signing. I have done hundreds of Countrywide closings and they always require 2 witnesses.

Reply by flexo-notaries flexo-graphex inc on 8/26/07 4:51pm
Msg #207759

http://www.nytimes.com/2007/08/26/business/yourmoney/26country.html?_r=1&ref=business&oref=slogin

Reply by Margaret_FL on 8/26/07 5:24pm
Msg #207763

Great article!!! I did a whole condo project where Countrywide was the prefered lender and most were
100% loans, no downpayment. Not anymore.

Reply by JK/TX on 8/26/07 5:26pm
Msg #207764

I heard a rumor a couple of weeks ago that Countrywide was merging with Bank of America. I see now how it got started (i.e. the loan(?) from BOA).

Reply by janie/vt on 8/26/07 8:52pm
Msg #207779

All the CW I have done, have not required a witness. Vermont does't require a witness anyway.