Posted by ikando on 6/26/10 10:42pm
Msg #342658

Good for them

Here's a link to a blog post on Source of Title that offers encouragement that, if others follow, will reduce our frustrations.

http://bit.ly/9izx1Z

Unfortunately the blogger doesn't mention the lender's name, but here's hoping that others will work the same way.

Reply by Susan Fischer on 6/27/10 1:32am
Msg #342668

Great post, ikando. This makes so much sense:

"The letter describes new policies that this lender has put into place to enable them to have their pre-Funding Review Auditors review and examine the entire loan closing package, prior to closing. They are asking that we schedule the closing date with them seven (7) days in advance of closing, they are asking for our commitment and preliminary HUD-1 four (4) days prior to closing and they are promising a FINAL FEE SHEET three (3) days prior to closing. What a welcome change this is. Title agents, Realtors and especially buyers will very much appreciate these changes."

So will we remote closers...

Reply by Linda_H/FL on 6/27/10 7:11am
Msg #342676

Re: Great post, ikando. This makes so much sense:

"they are asking for our commitment and preliminary HUD-1 four (4) days prior to closing and they are promising a FINAL FEE SHEET three (3) days prior to closing"

Wasn't this all part and parcel of the new RESPA regulations? All of this was supposed to be done so borrowers can see their final HUD 24 hours in advance - which, btw, I'm STILL not seeing...

Reply by CopperheadVA on 6/27/10 8:10am
Msg #342678

Re: Great post, ikando. This makes so much sense:

Don't they still have to *ask* to see the HUD ahead of time? Many people do not know to ask for it. It should be mandatory that it must be emailed, faxed, or in the case of people who do not have the capabilities to receive fax or email (yes there are still a few of those around) then it would need to be mailed.

Reply by LisaWI on 6/27/10 10:36am
Msg #342687

Re: Great post, ikando. This makes so much sense:

Let hope this catches on and spreads to other lenders

Reply by Grammyzoom on 6/27/10 10:44am
Msg #342688

Re: Great post, ikando. This makes so much sense:

Ah the difference between what it is supposed to be and what it is. Too bad it is overwhelmingly what it is and what it will probably always be.

Reply by Susan Fischer on 6/28/10 3:15am
Msg #342740

Now, Grammy, sometimes things do get better, one has

to admit.

Not all things, of course, but sometimes we can and do improve, no?

Reply by Hugh Nations Signing Agents of Austin on 6/27/10 10:48am
Msg #342690

And at what point does someone review the packet to eliminate those ever-more-numerous and ever-more-annoying duplications and same-document-different-format repetitions? And, heaven forbid, get rid of all those pointless and proliferating acknowledgments-of-receipt borrowers must sign? My packets once were 80-100 pages. Now 150 pages is the norm.

Reply by Claudine Osborne on 6/27/10 8:57pm
Msg #342725

Do the bos know that they have to ask for the HUD for review? It should be mandatory that they get it without asking. This would save everyone so many headaches.