Posted by Frenchie/TN on 4/25/08 11:10am
Msg #245002

Two hours closing for FHA refi

Just did an FHA refi: 130 pages, 15 notarizations. Mr and Mrs BO had long names and were elderly so it took a while to sign their name but what took longest was the 8 affidavits that were complerely blank: Even writing fast it takes a while to fill out BO's names and venue on aff and then again on notary certificates and some affs also required property address. Then there is the regular 1003 app plus the FHA app and there was also 2 pay off letters to fill out. I am thinking about charging more to do FHA refis. By the end BO's had writer's cramp just signing their names!!! They were the sweetest people so while it took too long I enjoyed my time with them.

Reply by Linda Juenger on 4/25/08 11:49am
Msg #245005

I did an FHA this week also. 206 pages (printed over 400 pages). It was ridiculous. There were so many duplicates. Borrowers were aggravated that it took so long. I suggested they let their LO know their frustrations. It almost didn't close because of how many signatures were needed. When I arrived they asked how long it would take (they had farm animals to feed). I told them it would be at least 1 1/2 hours. I honestly thought they were going to tell me to forget it. I let it go this time, but next time I get a pkg that big, I am calling immediately and upping my fee for printing and time at the table.
I was there 2 hours. Part of it was they had people coming in and out constantly and big huge birds sqawking in the same room. One of the people in and out came up to the table and put a bowl of cream of broccoli soup in front of the borrower to eat right then. What????? I stood up and thanked the lady who brought it, picked up the bowl and set it on the counter. I teased the borrower since I am old enough to be his mother, that he can have his soup after we're finished. He laughed and said "yes mom". He understood. It was funny.

Reply by Nomad/OR on 4/25/08 12:25pm
Msg #245010

My longest had 24 notarizations, AND they wanted to read

all the docs. It was a double refi (two properties) and they kept calling the LO over interest rates.
Started at 7pm and finished just before midnight.

The Borrowers asked what would happen if we went past midnight. I told them it better not or the dates would change and we might have to do a lot of redos.

MORTGAGE SIGNERS, you folks are totally awesome in your compensation to me.

Reply by JanetK_CA on 4/25/08 6:06pm
Msg #245062

Re: My longest had 24 notarizations, AND they wanted to read

Back in the day [heavy sigh..], I had a very busy EOM with the usual delays and issues. I ended up not getting to my last appointment until after 10:00 pm and it was a piggyback, too. When it became clear that there was no way we would be finished before midnight, I stopped where we were and pulled out all the remaining docs that needed notarizing so we could have those signed and notarized on the same date. Fortunately, the appointment was with a young couple without kids, and they didn't mind being up that late. We all had a chuckle about doing that, but it avoided any backdating on notarized docs!

I had another one once where we finished just as their grandfather clock was chiming midnight. We had a good laugh about my car turning into a pumpkin...

Reply by Frenchie/TN on 4/25/08 12:51pm
Msg #245014

Linda, Did yours also have all these affidavits that were completely blank and had to be filled out by you? That is so time consuming.

Reply by Linda Juenger on 4/25/08 1:42pm
Msg #245023

Yes. same here. What a pita.