Posted by NC_Notary on 2/9/09 7:53pm
Msg #276973

Countrywide/Bank of America transition next week?

I heard that Bank of America is officially taking over the loans for Countrywide next week. Has anyone heard about how this will affect the closings? I have been quite busy with Countrywide but I am wondering if now the closings will be done at BOA branches instead. I am hoping they keep the procedure the same......

Reply by MistarellaFL on 2/9/09 8:32pm
Msg #276974

I've facilitated a few BOA purchase loans for the last few weeks, and none of them have been at the branch.

Reply by Therese on 2/9/09 9:59pm
Msg #276980

I heard that BofA will now converting to the Countrywide software for loan docs.

Reply by Yowheelz on 2/10/09 10:34am
Msg #277039

I hate countrywide loans, or maybe its the title co's I hate

Always huge fax backs, calls when you get there, calls when your done, wait for approval before shipping. Geez, its a pain in the a... and I figure it must be a countrywide requirement since I get the same thing from several companies that normally don't require this. Next to the hugely rediculious TopDot loans with massive amounts of redundant paperwork, they are the pits. Just venting, as long as I get paid what I ask, I do what I'm told, I just grumble alot.

Reply by dickb/wi on 2/10/09 1:39pm
Msg #277065

Re: I hate countrywide loans, or maybe its the title co's I hate

i have done a lot of country wides, have never had to fax back any thing nor wait for approval to drop docs......there are no boa branches in wi to my knowledge unless there is one or more in the milwaukee area, so there is no way they can be closing at their branches......i agree with you on the top dot packages...they are horrendus--rediculas [spelling ?]--redundent etc etc.....i had one the other day where they charged the borrower $7900 fee [smells like a problem weve had in the past that created a lot of our current borrower problrms]....$1240 for a lenders policy which title co's in this area charge $300...... + all of the fha upfront mip.............

Reply by Todd/OH on 2/10/09 2:18pm
Msg #277077

Re: I hate countrywide loans, or maybe its the title co's I hate

These packages are a pain to do and, yes, they require fax-backs - dang near half the package. They're all too picky, too. I had one case in which the borrower initialed a date change on the RTC. They questioned whether the borrower actually initialed the change or someone else did. 30 minutes of phone calls back & forth.