Posted by mtcwgrl on 3/22/07 10:52pm
Msg #181493

I lost it tonight with Countrywide/Full Spectrum...LOOOONG

Had a singing for CWBC/Full Spectrum tonight at 7:30. Thought it would be a quick one. I know Countrywide docs backwards and forwards. When they get to my office we start going over the docs and it seems to be going fine but Mr. Borrower is just staring at the HUD. Then he ask his wife why are we borrowing this much money. They figure and figure and then they realize there are point on the loan. They are livid because they were told there were no points for that rate. So we get the LO on the phone (my cell phone), and for 30 minutes he is talking to the LO. Finally she says they would remove the discount points. He does not feel warm and fuzzy at this point and just keeps getting madder by the minute. I talk them into signing all the docs and reassuring them they do have 3 days to decide what to do. He just keeps saying I can go to my local bank and get the same rate with no points. These were A+ borrowers.

Then we get to the docs that have their SSN printed and the SSN for both borrowers are wrong. He is calm but mad!!! Finally they get through and leave. At this point I am to fax over to CWBC the RTC. The scheduler at CWBC calls immediatly and tells me that Mrs. Borrower has made a mistake on writing the date. He can tell she started to write a 4 but changed it to a 3. I looked at it and it did not look that way to me. He said I had to get her to line through it and rewrite the date and initial. Now that would be fine except they were heading out of town and would not be back until Saturday.

When I told him that he started telling me that I made a mistake and went on and on that I had to get this handled. That is when I lost it. After all the lining through we had done on the SSN and really feeling for the situation the borrowers were in with their loan...I just could not contain myself. Yes I was unprofessional but that is the third loan I have done this week where the borrowers were not informed.

Sorry this is so long but I just had to vent. I know I did not handle it well but I am just so tired of cleaning up these loans for Countrywide/Full Spectrum.

I have been a Mortgage broker for 16 years and have never had a loan rescind or a borrower claim I did not tell them something. See it really is not hard to do that if you are not trying to get away with something.

OK I'm done and if this doesn't put you guys to sleep then you are up for the night!! HAHA!
Thanks all.

Reply by Sharon Taylor on 3/22/07 11:22pm
Msg #181497

That was an "auditor" justifying his job, unfortunately

Borrowers do write "funny" sometimes, and unless they sign and date the way they first learned in grade school handwriting class - slowly, carefully, and very clearly, sometimes a fussy auditor can be a PITA. I had one recently where the borrower's wife made her "2"s small and angular with a very short tail. On one junk doc (not even a critical doc), the "2" could have been mistaken for a "7" if you wanted to be picky. And sure enough the auditor was picky. He insisted she had signed a "7" instead of a "2", even though the signing agency agreed with me that it was a "2" and even though the borrower's wife insisted she had definitely signed a "2", you just had to look a bit closer to see the little tail on the end of the "2".
The upshot is that the auditor refused to accept the borrower's wife's assertion, my assertion, and the signing agency's assertion that the "2" was a "2". He stated that the entire loan had to be resigned! Soooooo that is what we did. Luckily the borrower and his wife were really nice people, the resigning didn't change any of their loan terms and conditions, and we had a good laugh shaking our heads at the foolishness of the idiot auditor.
Frankly, I think the "auditor" was just trying to justify his job by finding something to find fault about on a percentage of the loan packages he "audits". I always wish I could "audit" some of these title company people! Heads would ROLL!!!!!

Reply by mtcwgrl on 3/22/07 11:28pm
Msg #181498

Re: That was an "auditor" justifying his job, unfortunately

Thanks,
I never thought of that but you are right. I feel better now!

Reply by Lisa Prestegard on 3/23/07 6:35am
Msg #181509

CW/FSL auditors can be persnickety... no write-overs, no fancy lettering.
I had one call me out because the borrower was from Europe. Her '1's' looked like upside down "V's".
I usually don't have problems with the unprepared Borrower on CW's (thankfully), but it's probably Branch-specific.