Posted by Ali/IL on 7/3/07 4:16pm
Msg #198406
have you had this problem?
Or is it a problem.
I am going to do a closing tonight just received docs.
There are two tils with two different loan numbers. Two 1003's I was told to not have them date one of them and todays date on the other.
I called the signing service because I need to know how to answer the borrowers questions on this. They are getting hold of lender. You would think they would know this.
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Reply by Philip Johnson on 7/3/07 4:25pm
Msg #198409
I would think that one of them is............
the one that that the law requires the LO to send out within 72 hours of making the offer. Just my guess.
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Reply by christiSocal on 7/3/07 4:25pm
Msg #198410
Check the dates on the top of the til's. Certain doc's are usually sent ahead of time with "beginning numbers". Most likly 1 til was a beginning and the 2nd the final.
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Reply by Ndwa on 7/3/07 6:00pm
Msg #198420
Those are what we typically called "junk docs". They are broker prelim disclosures that normally are sent to the borrowers now a day via email within 72hrs and there after with any changes made. Borrowers often do not return those disclosure and we ended up getting stuck with them in the end. Don't remember where I read or heard of the rule, but brokers/lenders are required to keep record of the paper trails. For this reason, sometimes there are multiple copies of the 1003, TIL, GFE, etc. which tell you how many times things were changed/corrected along the way.
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Reply by Eric2OO2 on 7/3/07 8:32pm
Msg #198439
It could be re-respa docs but that doesnt explain why there would be different loan numbers.
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Reply by Becca_FL on 7/3/07 9:23pm
Msg #198441
You are having the borrowers sign the broker's pre-disclosures. It's no big deal, just follow instructions. Remember, the borrowers can put any date they want to (or are told to) on the docs. You can not notarize docs for any day other than the day you are actually notarizing them. The 1003 & TIL do not require notarization.
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Reply by Todd/OH on 7/4/07 2:13pm
Msg #198490
They are probably giving you the respa docs along with the finals. The brokers are skirting regulation - it's illegal. They are going to have to prove themselves when (not if) they get audited. The different loan #'s is odd. They could have some 'xplainin' to do.
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