Posted by Yowheelz on 4/15/09 5:57pm
Msg #285200

The not so wonderful side of Closing Masters

I will NOT ever work for them again. They apparently are acting as a signing service for TC's & attorney offices' that have no idea what they are doing. I do 12-15 signings a week and in the last 2 months the only signings I have had any problems with were from them.

1st signing: Required Three trips with over 200 pages of docs each time
2nd singing: Late night to replace a no show notary (he was smart) no sign because the loan docs were nothing like borrower was told.
3rd signing: TC rejects 1003 because borrower and wife didn't sign top. I explain to TC that wife is not on loan and her name is not listed on the 1003. Husband does not sign top as it is not a joint application. TC says they don't care, it is their policy so go back and get 1003 signed by husband. I say to TC, if its your policy you need to put it in written instructions for signing agent. I go back have husband sign top of the documents the TC has sent me (copies of what I had previously had borrower sign). Now TC wants me to go back a 3rd time to get a fresh set of 1003's signed so that they have all original signatures on one set of docs.

And the check that I was told was mailed on April 4 has not gotten here yet. (over 30 days) Funny, my sister who lives near Closing Masters mailed me a card on 4/9 and I had it on 4/11.

Reply by pan/nd on 4/15/09 10:19pm
Msg #285254


Since the TC's instructions were nonexistent in regard to the 1003...I'd have told them to

fax it, send it or overnight it directly to the borrowers. No need to waste my time. Besides,

the fool form doesn't need to be notarized.

Reply by Les_CO on 4/16/09 11:41am
Msg #285299

I along with many others have discovered the unexplained inability of many Title Company and Lender personnel to read and understand the instructions on the 1003.

Reply by CJ/Alaska on 4/16/09 12:19pm
Msg #285316

Agreed! It seems 50/50. I've had companies have me do the 1003 BOTH ways and since I'm not a professional Mind Reader, if I have that situation (like a hub/wife where the wife isn't a borrower) - I Email the title co & SS and ask them : HOW to do it, Sign the Top or Not.. ~
I print the email with their response so when the borrower argues with me that they don't think its right, I show them the email to back up Why I'm asking...

Reply by JanelWI on 4/17/09 9:39am
Msg #285455

I always ask this question and many say to have them sign it just in case. I have tried to explain that single borrowers don't need to sign the top, only in cases of joint credit, but I always get the answer that it is what the lender wants. Rather frustrating that this tit for tat is still going on regarding the 1003.

Reply by Daniel Woodman on 6/17/09 4:32pm
Msg #292604

It's ridiculous. Regardless of what I've been told, if it's NOT a joint application, I have the borrower's carefully read the sentence that says "Borrowers agree this is an application for JOINT credit," and then I let THEM make the decision. That way, if they choose not to sign, I can always say (honestly) the borrowers refused. Signing when it is NOT for joint credit could open you up to some real legal issues if it came out that you told the borrowers they had to sign when they weren't applying for joint credit. It's not a form that needs notarizing...let the lenders strong-arm the borrowers if they want to.

Reply by Shelly_FL on 6/24/09 8:54am
Msg #293349

I also explain and let them decide. I also "suggest" that the borrower sign and put N/A in the co-borrowers space. The option is theirs if they chose.