Posted by Lee/AR on 1/20/10 9:19pm
Msg #318732

Be aware of these changes...

NREIS on, at least, BofA loans. Huge pile of undisclosed faxbacks. I don't do very many for them as they rarely meet my fee, but they did tonight. What a shock these new stips were--- and it's too late now to fight with 'em about this, but, boy, wait until tomorrow!

Reply by Linda_H/FL on 1/20/10 9:22pm
Msg #318733

It was posted here about the new BofA faxback

requirements - believe a title company e-mailed their vendors about it - faxbacks now mandatory on ALL BofA loans....I'd say within the last month or two it was discussed here..

Reply by Lee/AR on 1/20/10 9:33pm
Msg #318738

Never got any e-mail and don't really think anyone needs to be picking this info up from a forum. (Not that it isn't appreciated that my fellow notaries give everyone a 'heads up'---but I missed it.)
The hiring entity needs to disclose this--whether or not it's a new thing or SSDD. Further, they could also have an e-mail addy for this stuff. If there's anything I hate worse than 'sending a huge faxback' and getting some error message or another and having to re-do it, it's UNDISCLOSED faxbacks.

Reply by Linda_H/FL on 1/20/10 9:37pm
Msg #318739

Msg #316031

And I agree - it should be in your instructions...

Several people have said they've done BofA loans and no faxbacks were required - leading to is it BofA or the TC requirement?

Reply by Pamela Hoyle on 1/20/10 9:46pm
Msg #318741

Re: Msg #316031

I was told bn NREIS (who also schedules for ITI) that it depends on which office the BOA loan originates from as to the faxbacks. I think it's may be in Colorado...Greeley maybe? As a matter of course, I always ask if there are faxbacks. I charge if there are more than 10 pp. And once (since I was running really late and it's a toll free fax) with NREIS' permission, I just went ahead and faxed all 100+ pp of the documents. It was quicker than pulling out the 20 or 30 things they want. Anybody else notice that ITI takes a l-o-n-g time to get docs to you?

Reply by Lee/AR on 1/20/10 11:39pm
Msg #318746

'disclosing' in the instructions is too late!

They need to be up front about it. They know or ought to know by now that faxbacks can create varied problems for many of us. NREIS meets my fee frequently enough that I know (or thought I did) that they don't want faxbacks. When I 'think' I know what a co. wants, I don't like to waste their or my time playing 20 questions, so after the basics (when, where, loan type, edocs), I simply end with 'Is there anything else I need to know?'. That's their cue to say 'X# faxbacks required' or whatever else they want. They didn't. OK... I'm thru venting.
Thanks for responses. Another reason I'm ticked is that my phone co. just merged with some other darn co. and my HIGH monthly 'flat rate' just began a pricey 'extra' charge for 'data calls'---faxes!!! 800 fax numbers don't mean 'free' for me anymore.

Reply by pan/nd on 1/20/10 11:38pm
Msg #318745

yeah, I've got a bofA tomorrow.

It's got faxbacks back to BofA in Rolling Meadow, Illinois.

Worse....they want me to fax the required items from the table...."while the borrower(s).....

finish signing the rest of the package." WHAT THE HE_/_/ KIND OF LOGIC IS THAT???

It ain't gonna happen.

BofA needs to have an appointment with a psychiatrist and have their collective heads examined.

And what about that huge pile of undisclosed faxbacks?

They can have their faxbacks but the package won't go out before we're in the grasp of

what forecasters here are billing as a three day blizzard. So...possibly no delivery to

title company until Tuesday.

Or they can waive them and get it delivered Friday.

Reply by MW/VA on 1/21/10 9:48am
Msg #318762

I agree. Some of the things I've heard coming from BofA are scarey--indicate they don't know what the H#$l they're doing. I've also heard it say many times, "banks make up their own rules".

Reply by MT/IL on 1/21/10 11:33am
Msg #318786

Okay, I'm gonna ask...What are BofA loans?

Reply by PAW on 1/21/10 11:59am
Msg #318796

Bank of America - typically abbreviated BofA n/m

Reply by MT/IL on 1/21/10 12:30pm
Msg #318807

Re: Bank of America - typically abbreviated BofA

aah...I feel foolish. I should of known. Thank you.

Reply by Susan Fischer on 1/21/10 12:06am
Msg #318748

I've come to find that when asked about fax-backs, the SS

often say they have no way of knowing. My question is, how can the hiring entity properly describe the requirements of the contract if they themselves don't disclose the costs of delivery?

Fax-backs take time, and time is money: toner and clarical work, landline or internet fees, as examples. Secondary/investment property is a given and factored in, if it's strictly QC, pay for it, no?

Reply by Moneyman/TX on 1/21/10 12:33pm
Msg #318809

Only started having issues with BofA since

they bought Countrywide. One BofA (CW) loan missing loan docs, another one late and both wanting fax backs. Think they bought the company and are still using the same incompetent processors, IMO

I charge extra for fax backs. If not disclosed in initial call to me then I call back to get price increase or approval not to send fax backs. So far, I've had no problem getting ss to pick the one they want.

Reply by MT/IL on 1/21/10 4:51pm
Msg #318872

Are you referring to the Non-Owner Occupied Loans for BofA? I am doing one tonight for NREIS...BofA and there is a form in the package that states for Non-Owner Occupied Loans need to fax back a bunch of docs immediately after closing.
Please clearify.

Reply by jnew on 1/25/10 8:56am
Msg #319417

no-clue notaries make mistakes and cause fax-back rq's n/m