Posted by MW/VA on 7/13/09 12:03pm
Msg #295656
They're back!!!!--the dreaded CW packages
BOA is using the same dreaded packages as CW, including those ridiculous 24 pages on instructions! It's been a while, and I'd forgotten what at PIA they are.
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Reply by MW/VA on 7/13/09 12:07pm
Msg #295657
OMG! I just got word that they want the entire package faxed back (investor property--funding immediately). What a day!
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Reply by ikando on 7/13/09 12:08pm
Msg #295658
Didn't BOA take over CW during the "bailout"? So it would seem to follow that the paperwork would carry forward and probably be added to to cover more behinds ;-}
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Reply by Linda Juenger on 7/13/09 1:08pm
Msg #295674
They are pretty much the same pkgs. A few added docs.
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Reply by Lee/AR on 7/13/09 12:47pm
Msg #295668
Oh, joy! n/m
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Reply by pan/nd on 7/13/09 2:57pm
Msg #295706
They never left......at least that's my experience
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Reply by Jim/AL on 7/13/09 3:08pm
Msg #295707
CW/BofA paperwork is piece of cake..other than the mentioned
23 pages of instructions (I never print for BO copy) they are very standard. As for faxbacks...never any fun at all. Hope your day gets better!
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Reply by CaliNotary on 7/13/09 3:25pm
Msg #295711
Re: CW/BofA paperwork is piece of cake..other than the mentioned
These packages are no big deal to me. Yeah, they look intimidating, but the signing goes pretty quickly, there are only 3 notarized docs and no initialing on the DOT or note. They seem to be good about keeping the borrower in the loop, there are rarely any problems at the table, it's exactly what the borrower was expecting it to be.
I'd much rather do these than a lot of other lenders.
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Reply by janCA on 7/13/09 4:01pm
Msg #295716
Re: CW/BofA paperwork is piece of cake..other than the mentioned n/m
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Reply by Sandra Clark on 7/13/09 5:08pm
Msg #295723
Re: CW/BofA paperwork is piece of cake..other than the mentioned
Would rather do these than some of the others. Have done a lot of these lately. None have required fax backs.
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Reply by janCA on 7/13/09 5:22pm
Msg #295727
Re: CW/BofA paperwork is piece of cake..other than the mentioned
Not quite sure what I did above but, I'm in total agreement with Cali. These are straightforward with a couple of notarizations. Quick and simple.
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Reply by Virginia/PA on 7/14/09 9:07pm
Msg #295912
Re: CW/BofA paperwork is piece of cake..other than the mentioned
They require fax backs if Service Link is the settlement agent.
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Reply by JanetK_CA on 7/14/09 3:20am
Msg #295764
Re: CW/BofA paperwork is piece of cake..other than the mentioned
I agree - pretty straightforward (at least the lender portion). The only exception sometimes is the Borrowers Certification and Agreement, sometimes with two in the package: one from title and the other from CW/BofA. And just enough different to confuse -- and annoy -- the heck out of people.
I've seen a few people breeze through this, especially after I pull out the Schedule of Real Estate Owned, which has nearly all the info they need. However, it seems like the majority of folks have a hard time with it. Sometimes it's because they can't be bothered to read it, but I also think that the form itself is poorly written and designed.
I had one tonight that was like pulling teeth to get completed. This guy owns numerous properties, but he questioned every item, asking me what he should put and "Is that right?" after nearly every line item. And this after I had explained that I can't offer advice or tell them what to fill in on documents, etc. [He's convinced that all banks are crooks and are trying to cheat him. Thank goodness he just was an extreme case...] Actually, I think part of the problem is that the title version is usually a poor quality copy and very hard to read. (And I've seen this from a number of different title companies.)
What gives with these too-frequently-scanned-and-reduced copies that are such poor quality? (And my eyes are pretty good...) Just one of my latest pet peeves. 
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Reply by MW/VA on 7/13/09 7:39pm
Msg #295740
Yes, I was venting. Until recently I hadn't seen a lot of those packages & got spoiled with the simple packages of Wells Fargo, Citibank & others.
It was just one of those days. This was an investment property signing & required 51 pages of faxbacks! Grrrrrr!
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