Posted by Pamela Hoyle on 1/21/10 1:20pm
Msg #318820

Stupid question, and probably answered before...

...but I've never thought about it before. I know we had a thread awhile back about making borrower's copies on cd....I generally do NOT do this unless specifically requested. But was wondering...especially on the extra large pkgs, does anyone just make borrower's copy all on letter instead of legal? Would there be any ramifications with this? You would think I would know....

Reply by GA/Atty on 1/21/10 1:28pm
Msg #318823

I always give borrowers letter size copies. n/m

Reply by Philip Johnson on 1/21/10 1:46pm
Msg #318828

I use the same paper that the original was made of

You'd hate to be out in the sticks somewhere and have to use one of the borrower's copies and you send one letter page back in a sea of legal.

Reply by snoopdogMs on 1/21/10 1:54pm
Msg #318830

Ditto, Philip except the same would apply in the city unless

one is equipped to make copies on the spot.

Reply by Marian_in_CA on 1/21/10 2:21pm
Msg #318837

I give them an exact duplicate, including paper size...

And the simple reason for that is because if, during the signing, I need a spare... I've got one.

I have provided the borrower docs on CD before, but only at their specific request. These have all been people who were investors and were familiar with the process.

If it were me, I'd request a CD, too.

Reply by Moneyman/TX on 1/21/10 3:04pm
Msg #318854

When forced to evacuate CD copies make it easier

When I confirm apt with bo I usually will ask them if a CD copy is acceptable. I NEVER give a CD only copy for reverse mtg paperwork. I will make one as a back up for them. BO's at that age usually don't have or may not understand how to use computers with ease. I have found that at that age, they usually like to have paperwork they can touch.

I'm on the Gulf coast, we evacuate too often to be carrying around large stacks of docs. Since I started using CD copies, about 99.5% of bo's think it is great and want the cd. It is easier for them to take with them when storms hit. (5 in last 4 years)

I do check the cd after I make it to ensure all files can be opened. I don't include the exchanges between me and ss, just the closing docs and the return label for tracking should they need it.

When I first started using cd copies, I did have a few issues with bo's signing errors (wrong ink color, not full name, etc.). I had to get used to not having extra copies in case of mistakes. Now I'm very careful to watch for these issues and have not had any since the first one or two times.

Reply by Shoshana/AZ on 1/21/10 3:39pm
Msg #318859

"Borrowers at that age"

How old dpo you think they are? One can qualify for a RM at age 62. Does that make them old and feeble?

Reply by Pamela Hoyle on 1/21/10 5:28pm
Msg #318881

Re: "Borrowers at that age"

OK, many are very astute, both technology-wise and financially. But I would venture to guess that at least 50% of the ones I do don't have a computer, or if they do it's a Commodore 64. Those that are sharp are generally VERY sharp (whether they are "at that age" or not), but I don't think it was meant as a slap...I think it was meant that extra TLC is sometimes called for. You have to kind of read your borrowers....

Reply by Moneyman/TX on 1/21/10 7:06pm
Msg #318905

Thanks Pamela

LOL That's exactly what I meant. I didn't state that 62+ are incapable or working a computer, that they have lost their faculties, or anything like that. Currently about 80% of the ones I've done don't have immediate access to computers and several have specifically stated that they would rather have the paper copies even when they do.

Reply by Sylvia_FL on 1/21/10 4:10pm
Msg #318863

Re: When forced to evacuate CD copies make it easier

""BO's at that age usually don't have or may not understand how to use computers with ease. I have found that at that age, they usually like to have paperwork they can touch.'

hrrmphh! I do understand how to understand computers with ease. I was using a computer long before the internet and world wide web etc. I wonder how many of you young whippersnappers would fare if we had to go back to DOS 3.1! I would be fine

Reply by C. Wayne Moore on 1/21/10 4:42pm
Msg #318868

Yes! COBOL and IBM Punch Cards and DOS Commands! :-) n/m

Reply by Art_MD on 1/22/10 6:01am
Msg #318977

IBM -029, 360-30 8" floppy, winchester drive Wow n/m

Reply by Art_MD on 1/22/10 7:36am
Msg #318982

Also, ALGOL, CP/M, FORTH,DATABUS TRS-80. n/m

Reply by bagger on 1/21/10 4:44pm
Msg #318869

Re: When forced to evacuate CD copies make it easier

KUDOS to you Sylvia!
Some of these still wet behind the ears folks couldn't work wit DOS let alone a Commodor 64!
And, since CD's are almost getting to be pold technology, why not give thema thumb dirve?
Answer, 100 sheets of paper is chaeper then either of those.

Reply by Moneyman/TX on 1/21/10 7:13pm
Msg #318908

Commodor 64 made me popular....

Commodor 64 made my brothers and I, the "Big Shots" in our neighborhood. LOL

I remember it taking 5min to boot up a computer with the big black diskettes.

Reply by Linda_H/FL on 1/21/10 7:39pm
Msg #318914

Our very first computer was a Royal...'nuff said..:) n/m

Reply by Marian_in_CA on 1/21/10 6:09pm
Msg #318886

Shoot, my GRANDFATHER taught me about computers. n/m

Reply by Moneyman/TX on 1/21/10 7:10pm
Msg #318906

Re: When forced to evacuate CD copies make it easier

Touchee! :-) LOL

The computer class I took for college was all about DOS. And this was after Windows was out. That doesn't mean that I could work in DOS now. LOL -- Maybe it's me getting too old. ;-)

Reply by jba/fl on 1/21/10 10:56pm
Msg #318964

Re: When forced to evacuate CD copies make it easier

It's like riding a bicycle - it would come back to you.

When I first had to go to windows I hated it - I was so used to DOS and thought it was insane. LOL - Don't think that way now though.

Reply by BrendaTx on 1/21/10 4:46pm
Msg #318871

I was with ya, Money man, but ya stepped in it LOL

*BO's at that age usually don't have or may not understand how to use computers with ease. *

The RM-eligible folks in my neck of the woods are busy on their computers. I have found that age has nothing to do with it. It's more about interest and aptitude. I sit here typing at TAMU in the midst of learned scholars and students accepted only if they were in the top 10% of their class...computers are about aptitude; not IQ or age. Trust me. Plenty of elderly working like whizzes on computers around here...while lots of young ones will only if forced. There is gray on this head, but there's plenty of young ones who ask for help all the time...AND...our IT guy is pretty mature...long white hair down his back. He's def. RM eligible in age.

Like Sylvia said...would LOVE to see some of the younger ones dance and prance around with DOS 3.1...dBaseIII and some of the oldies. Good one S!

Reply by Moneyman/TX on 1/21/10 7:15pm
Msg #318909

I think I did. LOL n/m

Reply by John Schenk on 1/21/10 6:32pm
Msg #318895

Re: I give them an exact duplicate, including paper size...

Whatever I print to send in is also what I give the borrowers, and for the same reason. If they jack up one of my docs, I just reach in the packet and pull out a new one. Actually, the intermingling of the docs makes it easier to locate a page, when you need to jump in the borrowers copy and replace one they screwed up. You save a minute, or a few minutes, here and there and you get out the door quicker with a clean, executed, set of docs. Plus if you shrink to fit some of those legal docs to letter size you can't hardly read them. I prefer to give the borrowers a set that is exactly as the set they signed for me, but that's my personal preference.

The only time the borrower doesn't get an exact copy is on a HELOC or a CASHOUT. Their copy is always going to be on legal paper as the copier won't switch from legal to letter when it copies. Nothing I can do about that, and I let them know when they sit down that their copy will be all legal sized copies, although they will be in the same, identical order as the docs they executed.

JJ

Reply by Cari on 1/21/10 4:58pm
Msg #318874

if I can get away with printing on letter, I do! but it

depends on the TC or the SS as well. I've not printed on legal in a very very long time....can't remember when I bought legal paper really....

Reply by John Schenk on 1/21/10 5:48pm
Msg #318884

GEEZ...wish I could say that.

Almost every packet I get in is at least 25% legal. I have one, can't remember which it is, that demands the whole packet and copy be printed on legal. Even the letter sized docs are scanned in as legal so you really don't have much choice anyway, unless you select letter and do "Make it fit", which is gonna shrink the heck outta the docs....which isn't a good idea either as some require the type to be in a certain sized font. All I can say is YOU'RE LUCKY!

JJ

Reply by Jack/AL on 1/21/10 6:09pm
Msg #318887

Re: GEEZ...wish I could say that.

Some of the old foagies around here (north Alabama -- Marshall Space Flight Center and Space Camp, Redstone Arsenal, etc.) are the same folks who were using Fortran (with punch cards) for engineering and scientific stuff in the 60s. But that was ONLY 45 years ago.