Posted by CaliNotary on 3/9/10 12:14pm
Msg #326071

Ah, the fun of Provident loans

I guess I should be giving myself a pat on the back because I've been in this industry 7 years and done plenty of them, and just finally had my first issue because of their insane level of pickiness.

Did a signing on Friday and apparently I forgot to remove the RTCs with the watermarked "Borrower's Copy" from the package and leave them with the borrower, which means I only left the borrower with 6 RTCs instead of 11. Even though everything was signed correctly, because those copies were in the lender's package, they rejected it. Rather than simply pull those pages and send them to the borrower, they want a whole new signing done. And the TC won't do it because the lender has already seen the package.

And of course, at the very end of the signing, the borrower had the NERVE to write a question mark on the loan application, which means I had to switch that page with the borrower's copy, which means the borrower doesn't have a clean copy that can be resigned, so they're going to have to draw up brand new docs.

There's really nobody at Provident who can make the executive decision to remove the extra RTC's and send them to the borrower? The notary is really the ONLY one who is allowed to remove them from the package? I can only imagine what it's like for the employees who work there, they probably get horsewhipped if they come back from lunch 2 minutes late.

Reply by GOLDGIRL/CA on 3/9/10 1:04pm
Msg #326077

You have my sympathies, CaliNotary! I've been down this road with Provident over "illegible" dates on the 4506-T! (They wouldn't let the SS or the TC see the "illegible" dates - just had to take their word for it. Anyway, don't get me started because I don't want to relive it.... ). So back to you: first of all they are making you do this to punish you and everybody else down the line from them because they are GODS. Also, I'm confused about your having to print the whole pkg again over a messed-up loan app. Do you still have the docs - can't you print just that one page .... and use their copy for the re-sign??

Reply by CaliNotary on 3/9/10 1:14pm
Msg #326082

They were overnight docs, so I don't have anything to print and replace.

But it turns out that the story isn't quite as I described it. The SS who called me wasn't quite sure what they were asking, and that's how I interpreted what she was telling me. She just forwarded an explanation from the TC, and what really happened is that I DID remember to remove the extra 5 copies of the RTC from the lender's package, but the one that I left in the package and returned was one of the watermarked "borrower's copy" ones, not the clean one. So it was a careless error on my part, and I just need to get the right one that I left with the borrower and send it back. Which makes much more sense.

Reply by GOLDGIRL/CA on 3/9/10 1:29pm
Msg #326087

Oh, well, tlhat does make more sense. However, the scenario you set forth in your first post is totally in line with something Provident would do!

Reply by ChristineHI on 3/9/10 2:03pm
Msg #326092

Oh my gosh, I have only had one really nightmarish signing in my career of more than 19 years and it was Provident as well. I had to go back 4 times because first they did the docs wrong, I cannot remember what they did wrong, but I had to go back to re-sign everything. Then they said they didn't like how 2 of his signatures looked so I went back again, 3rd time now, then they didn't like how his dates looked, had to go back again, whole new set of docs, 4th visit. Then they called again for a 5th time, I cannot remember what the problem was that time, but I couldn't go back so I took a cut in my pay instead. It was so embarrassing to keep going back to the same people. How do you tell a borrower that they don't like the way your signature looks? :-) I processed loans for 16 years and never ran into a lender that was so picky.
I haven't had a Provident in a long time, fortunately, but if I do, I will tell the borrowers to make sure all your signatures look exactly the same, no date variations, no variations of any kind basically. It is hard because what looks totally acceptable was not acceptable to them so it makes it hard to know what might get kicked back.

Reply by JanetK_CA on 3/9/10 2:54pm
Msg #326096

When I do Provident loans, I try to always make an extra copy of the most critical signature pages (i.e. the ones where "mistakes" are most likely to happen, because I realize they are all critical with these guys!) Included in that list is an extra (i.e. "3rd" copy) of the lender's RTC page. It has gotten me out of a jamb a couple of times. If the docs are o/night to me, I'll copy those pages. If they go to the borrowers, I guess there's not much we can do about it, but hope that we have borrowers with neat handwriting!

Reply by Lita on 3/9/10 4:03pm
Msg #326113

OMG!!! Never done one for Provident, but after reading this if I can avoid them I will.

Reply by Leticia Sandoval on 3/9/10 8:33pm
Msg #326152

Their not that bad you just have to be very careful not to make any mistakes. Prior to signing docs explain to the borrowers that you will be observing them and that there are no strike outs. They have to put the dates on the RTC and if it they do make a mistake just take a copy from their stack. Out of all my Provident loans I have never had a problem and believe me I have done many!

Reply by oldhippie_IL on 3/9/10 8:44pm
Msg #326155

Provident Loans

Same here, just have to be VERY careful! I also print out additional copies of the important docs.