Posted by John Schenk on 9/24/10 5:50pm
Msg #353858

MIC closing shrunk to 115 pages??????

Got one for in the morning and that's all it is for a refi. All the prior MIC's I've had were running about 180 pages. I'M IN SHOCK!

JJ

Reply by John Schenk on 9/24/10 6:01pm
Msg #353859

MIC VA REFI no less!

Not only is this an MIC refi, it's a MIC VA refi that's 115 pages. Just had a refi for them last week that ran 180 pages. Something change that anyone knows about? Wonder if regular refis still running 180 pages or if something changed?

Still the no contact BS requirement so still a higher fee, but I like the drop in the page count.

Have a great weekend!

JJ

Reply by James Dawson on 9/24/10 6:07pm
Msg #353861

Re: MIC VA REFI no less!

My refi,s have been running 104 - 120 pages. The only thing I've noticed is that when the note holder refis, there is much less paperwork. I'm sure there's something else going on but it's above me. The other thing I have also noticed is the docs are being sent to the borrowers more and more which is ok with me also. Fees are less but I don't have the responsibility of getting them to FedEx or UPS.

Reply by John Schenk on 9/24/10 6:11pm
Msg #353862

Re: MIC VA REFI no less!

Just got this reply when I asked if all the docs were here because they usually run up around 180 pages:

"We have a new system smaller docs. You are good."

So, there is a change. Haven't looked over the docs yet but sure love the drop in the page count.

JJ

Reply by Ali/IL on 9/24/10 6:41pm
Msg #353867

Re: MIC VA REFI no less!

Now if only others would follow. I closed on a loan for someone who manages that department that puts the docs together. She said she has been trying to eliminate some of the redundant docs. I deal with one that has signatures on additional page and the signature lines are so far apart. I pointed that out to her. She said they are working on it.

Reply by John Schenk on 9/25/10 10:25am
Msg #353942

No sigs on about last 10 pages.

REALLY a nice package. 30 minutes and I was outta there. Could have been done sooner but he had to make coffee.

JJ

Reply by CopperheadVA on 9/24/10 8:35pm
Msg #353874

They called me today for one next week. I told them I was available, but I didn't want to get sandbagged like last time with a 175 page package and surprise POA. I was told that they have revised their packages and the number of pages has been cut in half. Well, 115 pages is a big improvement, but not cut in half! I took the job - we'll see next week how big/small it is. Good news though!

Reply by CopperheadVA on 9/28/10 12:15pm
Msg #354572

Just got my package for today. It's 117 pages. Still has a lot of BS docs in there - closing instructions, worksheets, verification of taxes and insurance, all of which the borrower does not sign. Lot's of stuff they could still cut out. It's still a big package, just not as big as before.

Reply by GA/Atty on 9/24/10 9:33pm
Msg #353881

Click on John's profile - it is pretty cool. n/m

Reply by Blueink_TN on 9/24/10 9:45pm
Msg #353883

Re: Click on John's profile - it is pretty cool.

That is cool LOL. But really, does anyone looking for an SA really have the time to read that? My profile says (not exactly in these words) I'VE CLOSED A MILLION LOANS - CALL ME IF YOU NEED YOUR'S DONE RIGHT. DUAL TRAY PRINTER.

Reply by John Schenk on 9/25/10 10:26am
Msg #353943

Re: Click on John's profile - it is pretty cool.

I've had a lot of SSs that read it said they liked all the info. It's there if they want to read it. If they don't read it, doesn't really matter as long as they ring my number. LOL

JJ