Posted by James Dawson on 10/27/10 6:40pm
Msg #358509

Loan package size

Last couple of weeks I seen post about the increase in size of loan packages. Well I thought it would only be right to say, the size of Citibank packages has decreased greatly, the one's (refis) I've done lately. The last nine I've done were between 60 - 80 pages total....a real shockeroo. At first I thought I hadn't received all the Docs but was told that's it. We do luck out sometimes.

Perhaps when taking the next call, you might ask who's the lender and how many pages, it may be easier to adjust your fees if need be.

Reply by Shauna/WA on 10/27/10 6:41pm
Msg #358510

I always ask. Of course most of the time the scheduler doesn't know, but it never hurts to ask.

Reply by MW/VA on 10/27/10 9:45pm
Msg #358531

I love Citibank pkgs. They're usually a 15-20 minute signing!

Reply by Alz on 10/27/10 10:02pm
Msg #358537

Ya gotta love em..Although, I have noticed

that the size of the loan packages are sometimes predicated by the TC. As example, TC A generally has 60 - 80 total pages and TC B will clock at 100 - 125 pages for a single copy. Go figure.

Reply by JanetK_CA on 10/28/10 9:32am
Msg #358575

Re: Ya gotta love em..Although, I have noticed

I just posted something similar above. Lately, it seems that every time I get a lender package that's small, I get a tc that has tons of affidavits and other junk docs that need to be filled in by BOs.

It seems lately, too, that more than half of the packages I get have a trust involved in some way or another, which always adds more time. For one thing, whether they leave the property in the trust or take it out and put it back, there's at least always a Certification of Trust. And then you have my least favorite page(s), the SOI, which is in nearly every pkg I see lately, too. And many of the folks who are meticulous enough to have maintained good enough credit to get approved for a loan in the first place are also the ones who want to look up every detail to make sure they got it right.

(BTW, if I sound grumpy, it's because I got up way earlier than I wanted to this morning for what was supposed to be an early signing. You guessed it... no docs - at least not yet.)

Reply by janCA on 10/28/10 9:51am
Msg #358581

Re: Ya gotta love em..Although, I have noticed

Hi Janet, I actually like the SOI. It's the last doc I have the borrowers fill out and sign, and as they are filling this in, that's when I go back through the doc package to make sure all sig./initials/seals are in place, otherwise, the borrowers just sit there and stare at you while you're rechecking. I hate that.

Reply by LynnNC on 10/28/10 10:27am
Msg #358590

Re: Ya gotta love em..Although, I have noticed

"borrowers just sit there and stare at you while you're rechecking"...

I always tell them that the closing is finished, I have to go through the docs to check them, and they don't have to sit there if they have something else to do. I say I will call them back to the table if I missed anything. They usually do get up.

Reply by SheilaSJCA on 10/28/10 11:07am
Msg #358603

Re: Ya gotta love em..Although, I have noticed

I do the same as you Jan, save it for last, while I review. Those huge title doc pacakges always come from out of state escrow/settlement companies. I am so glad that most of my closings are from the good old state of CA.

Reply by JanetK_CA on 10/28/10 12:36pm
Msg #358618

Re: Ya gotta love em..Although, I have noticed

I think I may have to try that. I tend to want to get the worst out of the way first and do as much notary work as I can while they work on it. Then I can usually start the double checking before we get to the end and often finish that just as we are signing the last few pages. That works out great. But when I have a situation with last minute docs and tons of tc notarizations, I find it really helps to have some time up front to get my jurat stamp going and at least set up the right loose certs. Barring that, though, I'm going to try saving the SOI for the end.

You may have converted me. "Old dog" or not, I'm always open to trying to learn a few new tricks!

Reply by Alz on 11/1/10 7:34pm
Msg #359268

Ditto on that! n/m

Reply by CopperheadVA on 10/28/10 10:56am
Msg #358599

I have one today that I received lender docs which included 30 pages of instructions, about 30 pages of broker docs, and nearly 50 title docs!!! Total 182 pages!!!! OMG!!! It's a VA !!!

Reply by CopperheadVA on 10/28/10 11:19am
Msg #358604

Strike that - it's about 30 title docs (includes two copies of the HUD) and about 20 VA worksheets.

Reply by famena on 10/28/10 1:21pm
Msg #358622

Quicken

Reply by SheilaSJCA on 10/29/10 12:59am
Msg #358692

Tonight I did a 214 pg .Wells fargo refi/1st and 2nd Heloc. The first was 95 pgs the 2nd was 101. First time I have seen a Heloc in a while. It was crazy.