Reply by Teresa/FL on 2/3/07 1:11pm
Msg #173931
Re: No, it is NOT Off-Topic!
So what you are saying is that you printed the docs as formatted when you received them? Did the SS or TC scan/reduce the docs or did you reduce all legal size docs to print on letter?
Regardless of whether some (or all) of the docs. were reduced in size, the fact that the new docs they have sent you have different figures would concern me. If the loan amount and terms have changed, they are trying to pull a fast one one you.
If only the prepaid interest figure and cash-out amount on the HUD have changed, that's a different story. These figures would have to be adjusted for the new signing and disbursement date.
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Reply by Sharon Taylor on 2/3/07 1:19pm
Msg #173932
Shrinking docs no-no, so is Lender changing figures!
Did YOU shrink down the docs or did you receive them shrunken down???? If you shrunk them down when you printed them (legal shrunken down to fit on letter paper), then you are at fault for shrinking them down. However, I have seen legal already shrunken down to letter size in packages that were sent to me, and if there is ever a question, I just send them the package I received to prove that was the way I received them. An excellent reason to save all emails and loan document packages for at least 6 months after you complete the loan - I save the last 2 months on my hard drive in a separate folder and burn the older ones to CDs, which are stored in a locked file cabinet. The CDs are shredded once the contents are older than 6 months.
Why were only a few pages shrunk and not all of them? It's odd that your printer would shrink only a few and not the whole package.
I would definitely point out to the company that the documents are changed and the exact changes that have been made. If the only real change is to the HUD and the figures on it along with a couple of other documents that are related to the HUD figures, then those documents could have been sent to the borrowers for signing and return without going through a notary. I've seen HUDs that had somewhat incorrect figures at the closing, and the lender/title company always has said to just have the borrowers sign everything and they'd send a new HUD directly to the borrowers for signatures and return by the borrowers.
If the only changes are to the HUD, then IMHO it sounds like they really do need the entire package resigned because of the shrinkage problem. However, if other important docs have revised figures (Note, DOT, amount of monthly payment, etc.), then it sounds more like a whole new loan and IMHO would constitute a new closing. If that were the case, I'd carefully and calmly state all of this to them and suggest that since I was at fault for the shrinkage but not at fault for the changed loan figures, then I would absorb the printing costs for the 2 new packages (1st and 2nd).
A) If you are fully at fault (shrunken docs, only changes are to the HUD figures), then you do the resign at no charge.
B) If the critical loan figures have changed (Note, DOT, payment amount, etc.), then it's a new loan, and you accept partial responsibility for the shrunken docs on the previous signing by charging your standard signing fee WITHOUT a print fee.
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