Posted by CF on 3/14/08 10:28am
Msg #239272

Any title company employees out there?

How long does it REALLY take to work up package once received from the lender? I am curious about working up the HUD and the TC docs? Also, why do TC's say that they have to scan the docs.....arent they receiving them electronically from the Lender? Just curious how long this process takes. Thank you for the information.

Waiting on docs starting calling at 8:30am this morning....and was told them that they had the package!!!!!

Reply by BBuchler/CA on 3/14/08 11:43am
Msg #239281

I was called Thur afternoon about a closing at 11:00 am Friday, no problem. It is now 9:30 am Friday and no docs.

Reply by Ndwa on 3/14/08 12:03pm
Msg #239287

I'm not any title employee, but I know the main reason for late docs has to do with TC getting the final approval from underwriter/funder before closing or releasing docs. Once the appt. time passed, I'd let the bo know (set another appt. the later the better) and move on with my normal schedule.

Reply by Sharon Taylor on 3/14/08 5:56pm
Msg #239336

Lender must approve HUD - causes delay

That is the reason I hear more often that any other. The title company prepares the HUD, then sends it to the lender for approval and must wait wait wait until the approval is received before they can send the docs to the notary.

Reply by Tonya Washington on 3/15/08 12:08am
Msg #239358

I work for a title company. There are many factors that can lead to a delayed closing. Here are a few of them..........

1. LO lies about loan approval
2. Last minute stipulations/conditions
3. Lender is back logged and cannot get packages out quickly
4. Appraisal Review
5. Waiting on HUD approval
6. Incorrect docs

The list can go on and on.After a package is received from the lender it takes about 10 to 20 mins depending on the experience of the person preparing the HUD to get it completed. This is not counting the time it takes the lender to approve the HUD. I've closed refi's without an approved HUD just because the lender was taking their time and the client's were looking at me as if I didn't know what I was doing. In my office I don't do closings after 5pm. As a Mobile Notary I do but I make sure that I have everything because some people are not available after 5:30 or 6pm even though they say that they are. As far as scanning the documents goes. Some title companies do not receive e-docs they receive overnigthed docs and must scan them in their system in order to get them to you. A lot goes on behind the scenes during the closing process. It can be very stressful because the TC under goes a lot of flak. We have to solicit business just like you all do. What people dont realize is that TCs have alot of over head b/c they have employees. The best thing about being a Mobile Notary is that you're basically self employed with little or no over head, but I do believe you should be paid for you time and services just like they are when a loan does not close or fund.

Reply by Tonya Washington on 3/15/08 12:09am
Msg #239359

One more thing on scanning.............Some of the documents come via fax and have to be scanned. Those docs are usually the TIL and/or 1003 (loan application).

Reply by Pat/IL on 3/15/08 1:23am
Msg #239362

There is often more involved than HUD prep. If the title company has not routinely worked with a particular lender, they need to read through all pages of the general and specific closing instructions that everyone else gets to ignore. Various documents may be required to insure, which the escrow officer may also need to prepare. If a broker is involved, there are often back-and-forth efforts to resolve issues regarding fees, stipulations, payoffs, any any number of other surprises. After the coflict resolution session(s), the waiting period for the final TIL begins.

Then again, many can be done in 10 to 20 minutes. So, when the lender delivers the package 10 minutes after the signing is scheduled to begin, figure in 30 minutes for you to get the package printed, a 30 minute drive, you are only about an hour and a half late.

Another possibility is that yours was just one in a stack of closings scheduled for around the same time. The broker who screamed the loudest got priority.

Reply by Mike/AZ on 3/15/08 2:38am
Msg #239366

I used to get jerked around by some (very few) Title Companies with no e-docs. Now I always ask if the docs are ready on e-doc signings when they call me. If the call is from a TC that's not one of my reliable regulars, I tell them I must have docs by 1 hour before the scheduled appointment time, otherwise I will not be able to perform the signing. I also inform them that the appointment is tentative, and that if I get a call for the same time slot from a TC or lender with e-docs ready, then that signing will take priority.

I know it sounds harsh, but I've found it to be a useful motivating tool and it has cut down on being held up waiting for docs. Plus, at the end of the month, the few signings I might cancel due to "un-ready" e-docs are almost always replaced by another TC or lender calling.

If I were having a printer problem, a Title Company would only wait so long for me to try to fix it before saying, "Okay, we're going to have to call someone else to do this signing." I don't see why it shouldn't work the other way around as well with a TC having trouble getting the docs. Their time is valuable - mine is too. Just my humble opinion, of course.

Reply by CF on 3/15/08 12:51pm
Msg #239389

Thanks...I was just venting and curious....

I think I was just in the pile....and even though I started to call at 8:30am (so I could start my day) they did not care....and just went on processing orders and when they got to mine they sent it.

I did have to threaten to give the order back....I had a purchase and could not be late to that. So that sparked them- they said it did not have HUD approval....too bad so sad....I am sure it got approved by the time I was there.


I know that the TC have a lot to do in getting the package ready....and being pulled in a million different directions...that is a job that I would never want to do!