Posted by TacomaBoy on 7/18/10 8:47pm
Msg #345480
I'm Cheap, but not easy!
Well Kidlettes, I've been providing doc copies to my borrowers on a CD in .pdf format with fantastic results! Everyone really likes and embraces the idea! However, in addition to the CD, I provide a hard copy of just the critical doc's (NRTC, TIL, HUD-1, Note, New Pmt Coupon) that the borrowers need during the recission period. The CD contents are included on a (CONFIDENTIAL) printed label. The CD is placed in a paper sleeve with the following message: YOUR MORTGAGE DOCUMENTS are included on this CD in .PDF format. Also included is ADOBE PDF Reader 7.0. Type: RUN AdbeRdr70_enu to install. If, WITHIN 14 DAYS FROM TODAY, you prefer to have a printed copy contact: . . . . The lender's requirement of providing borrower copies has been met at far less expense for me and less clutter for the borrower. Go Figure!
| Reply by MikeC/NY on 7/18/10 9:56pm
Msg #345488
Who do you tell them to contact for printed copies - you, or the hiring entity? And why 14 days?
I can see how this would work for some people and it's a great "green" initiative, but what about those who either don't want it or don't have a computer?
Also - you might want to consider changing the message to say "If you don't already have Adobe Reader installed on your computer, you can get a copy by typing..." Otherwise, you're eventually going to get someone who follows the instructions blindly and ends up trying to install an earlier version of Reader over the more current version they already have...
| Reply by PAW on 7/19/10 7:56am
Msg #345513
CD copies are not Green
>>> I can see how this would work for some people and it's a great "green" initiative, but what about those who either don't want it or don't have a computer? <<<
I agree that printing a tome of mortgage documents is tantamount to tree killing, but the CD alternative certainly isn't a "green" solution.
A CD is made from 1.2 mm thick, almost-pure polycarbonate plastic and weighs 15–20 grams.
A thin layer of aluminium or, more rarely, gold is applied to the surface to make it reflective, and is protected by a film of lacquer that is normally spin coated directly on top of the reflective layer, upon which the label print is applied. This makes the CD/DVD as far removed from a "green" initiative as possible.
Paper is certainly recyclable. Are CDs? You bet.
Obsolete or unrepairable CD's and cases can be recycled. Recordable CD-R's have about 20mg of gold that can be recovered, and some processors can actually remove the data layer, and reuse the plastic disc. If you are worried about proprietary data, you can cut them with a pair of heavy duty tin shears, or place them in a microwave oven with a small glass of water (for one disc, 5 seconds on medium does a fantastic job, and creates a spectacular light show)
Since CD's are not very valuable, nobody will pay you for recycling. Be sure to ask you local recycler if they handle CDs and DVDs. Or you can send them, pre-paid by UPS Ground, third-class mail, freight or other surface transportation to:
NESAR Systems
420 Ashwood Road
Darlington, PA 16115
(724)827-8172
-or-
Digital Audio Disk Corporation
Attention: Disc Recycling Program
1800 Fruitridge Ave.
Terre Haute, IN 47804-1788
(812) 462-8323
| Reply by Les_CO on 7/18/10 10:08pm
Msg #345490
I'm neither...but
To each his own.
I for one copy the entire package (whatever I get) have the borrower sign one, and give them the other. The reasons for doing this have been discussed here many times. I believe your procedure could lead you to eventual problems. I suggest you simply increase your fee to adequately cover your printing costs. JMO
| Reply by LynnNC on 7/18/10 10:45pm
Msg #345493
When you receive an edoc fee, you are expected to PRINT...
...a copy of the documents for the borrower. To instead provide a CD in .pdf format, you are opening yourself to potential problems.
Do you ask the borrowers if they would prefer a CD or a paper copy?
How many of the title companies that you work for know what you are doing?
| Reply by Susan Fischer on 7/18/10 11:25pm
Msg #345496
And it ain't pretty being easy... Good example of an easy
alternative to bulky, often containing legal sized papers - a pain to file - to resolve during the confirmation all. Some folks are all about paper-less, but easily printable files, some still prefer the paper stuff - either way, if everyon'es cool with it, it's a great option.
Changing from a "Print Fee" to a "Copy Fee" may be a great way to message conservation of precious resources by using our growing technology to provide legal transmissions of transaction records.
So, TacomaBoy, I can figure it - it makes sense as long as those borrowers without the technology options have their paper-trail needs met as well.
It's a lot easier to keep track of CDs than it is a mountain of Paper...
JMHO
| Reply by GOLDGIRL/CA on 7/19/10 12:47am
Msg #345503
Re: And it ain't pretty being easy... Good example of an easy
Speaking of conservation of precious resources and use of technology, I wonder why it never became standard procedure for the lender and/or TC to e-mail the borrowers' copy to them like they e-mail the loan to us to print? Actually, I bet there are notaries who do exactly that themselves for the borrower copy. If the borrower didn't have e-mail (and there actually are some people out there who don't) then they get a printed copy. It would save TONS of paper and seem the E thing to do. In any case, I've noticed that 99.99% of all appraisals are now being e-mailed to the borrowers. I haven't heard of or seen a printed appraisal in at least a year. So appraisers are obviously going in that direction. Same with HOA stuff.
| Reply by Les_CO on 7/19/10 9:21am
Msg #345523
Re: And it ain't pretty being easy... Good example of an easy
Why is it that no one but Lenders, and Title Companies including the ‘legal profession’ uses “legal size” paper anymore? If you want to get on a bandwagon and change how ‘things’ are done, how about convincing everyone to no longer use ‘legal size’?
| Reply by PAW on 7/19/10 10:04am
Msg #345526
Re: And it ain't pretty being easy... Good example of an easy
I agree Les, but it needs to go even further. Only Canada and the US have standard "non-ISO standard" paper sizes. The international community often has problems with our odd sized envelopes that contain our odd-sized paper.
----- ----- ----- ----- -----
The quest for standardized paper sizes began in the 14th century in
Bologna, Italy. In the year 1398, a marble tablet inscribed with the
outlines of four sizes of paper [small, medium, large, and
extra-large] was placed in a public place to serve as a guide for the
sizes of paper manufactured in that region of Italy. This appears to
be the first time that paper sizes were regulated and standardized.
Centuries later, in 1786, physics professor Georg Christoph
Lichtenberg of Germany noted the advantages of paper sizes having a
height-to-width ratio of the square root of two (1:1.4142). The
Lichtenberg Ratio has the advantage of preserving the aspect ratio
when cutting a page in two. This ratio is also the basis for the
metric-based ISO paper size system used by most of the industrialized
nations today.
A few years later, in 1794, the French government issued a law that
specified paper size formats that correspond exactly to several of the
modern ISO paper sizes. Today the United States and Canada are the
only modern countries in which the ISO standard paper sizes are not
widely used.
The historic origins of the U.S. letter size format (8½ x 11" / 216 x
279mm) are relatively obscure. There were attempts in 1921 by the
Permanent Conference on Printing, and also by the U.S. Secretary of
Commerce, former President Hoover, to standardize paper sizes to an
entirely different 8 x 10½" format. This size was established as the
standard for U.S. Government letterheads, and continued until the
Reagan administration declared in 1980 that the official paper format
for the U.S. government would be the 8½ x 11" size.
At the same time that the Hoover standard of 8 x 10½" paper was
adopted, another committee known as the Committee on the
Simplification of Paper Sizes recommended six completely different
paper sizes. These sizes appear to have been selected merely because
of their being traditional. What later became our familiar letter size
format is simply one of these basic sizes (17 x 22") halved. Our legal
size paper (8½ x 14" / 17 x 28") is also one of the papers specified
by the Committee on the Simplification of Paper Sizes.
As far as can be determined, the 8½ x 11" letter size began to be used
in the United States during or shortly after the First World War.
There was apparently no effort made to prove that this was the optimal
size for commercial letterhead. The purpose simply appeared to be to
reduce the haphazard and chaotic variety of paper stocks and
inventories to the most commonly used sizes.
Paper University: E-newsletter, September/October 2002
http://www.tappi.org/paperu/news/current_issue.htm
Syndicated columnist Cecil Adams, billed as "The World's Smartest
Human Being," offers a good discussion of the history of paper-sizing,
found in the archives of The Straight Dope online:
The Straight Dope: How did 8-1/2x11 and 8-1/2x14 become the standard
paper sizes?
http://www.straightdope.com/classics/a3_016.html
(Source: http://answers.google.com/answers/threadview?id=67345)
| Reply by desktopfull on 7/19/10 12:09am
Msg #345500
The requirements I get state a "printed" copy for the
borrower, a CD is not a printed copy and until I receive instructions for TC or lender to the contrary I will continue to provide the requested "printed" copy.
| Reply by cadmonkey/CA on 7/19/10 2:51am
Msg #345506
that's why you try to bring down printing costs as much as
you can to save some $$$$!
|
|
