Posted by snoopdogMs on 9/14/10 9:43pm
Msg #352712

The GFE

I received a call today from the title company on a closing that I had on Sat. that I did not sign this document.....

Loan #
Date

We, the title company and/or broker have reviewed the GFE from the xxxx xxxx Mortgage dated ______ with the borrower(s) prior to this closing.

Closing agent/broker signature________________________________

I told them that I did not and would not sign this document. If someone needs to lie, it won't be me as I am not the title company or broker.

Reply by Claudine Osborne on 9/14/10 9:51pm
Msg #352718

Good for you this is not for us to sign.

Reply by Marian_in_CA on 9/14/10 9:59pm
Msg #352719

It's amazing to me that people don't understand the job roles involved. That's one of the reasons I try not to use the word "closing" anywhere near my work.

Reply by JulieD/KS on 9/14/10 10:37pm
Msg #352723

Same here, Marian. I never refer to myself as a 'closer' or 'closing agent' because I'm not. People think it is interchangeable with 'signing agent' but it's not. I don't sign anything that calls for a Closing Agent to sign...even if I'm told to by an SS or Title company. You can't make me sign something stating I have control over something that I don't. Sometimes these companies come across as bullies.

Reply by Bravo on 9/14/10 10:59pm
Msg #352727

On this note, can someone here tell me when the phrase "closing" changed from being the ACTUAL DAY the transaction recorded to mean the day documents were signed. I realize that I am a dinosaur from the dark ages having been retired from escrow for many moons but this is something that has stumped me for years and would really like to know when and why this changed. It actually is cause for confusion at many a signing table.

Reply by PAW on 9/15/10 6:59am
Msg #352740

I don't know when, but for the past 20 plus years (working for a lender and a title company during that time), the closing was always when the borrowers/buyers signed the final set of documents, the day the deal was closed. The day the funds were disbursed is/was called the settlement date. The day the transaction (deed, mortgage, etc.) recorded could take place weeks after the closing and settlement.

Reply by ReneeK_MI on 9/15/10 7:22am
Msg #352741

The terms "closer" and "closing agent"

I am a mobile/contract/independent closer. I perform closings. I am not a Closing Agent most of the time, although sometimes I am. Some of this is semantics - some of it is by precise definition, some is local terminology.

A "closing" is a PROCESS - some parts of 'the closing' are done by a "closer" in the "closing dept" of the Lender, some parts by the "closer" at the Broker's office, RE Offices have "closers", Settlement office have "closers", etc. Having been all around this industry, I've been a "closer" in various capacities most of my life, and for me it just is what it is. The word strikes no fear in my heart - in my everyday, it's just part of the lingo. "Can you do this closing?" "I've finished that closing." "Are you the closer?" "Did you close the Oak St one?" "How'd that closing go?" Maybe it's a Midwest thing, but 'closing/closer' is all I hear and am happy to answer to.

When I'm doing a 'full' closing including disbursing, I'm acting as Closing Agent & signing as such. You can't perform a full closing as "witness only", my guess is a lot of NSA's just don't DO full closings, but most assuredly many of us are. When I'm not disbursing, I'm not performing as "Closing Agent", and not signing as such.

Reply by jfs/IL on 9/15/10 8:20am
Msg #352742

This Statement is clear as to who should sign this

We, the title company and/or broker have reviewed the GFE from the xxxx xxxx Mortgage dated ______ with the borrower(s) prior to this closing.

Reply by CF on 9/15/10 9:01am
Msg #352746

Strange that the TC said the SA needed to sign this?

I could understand if a SS said that it needed to be signed....they have NO idea what is going on. It makes your wonder why a TC would not know this information???

Reply by jba/fl on 9/15/10 9:37am
Msg #352750

why? - trainee, new person, intern..... n/m

Reply by snoopdogMs on 9/15/10 11:30am
Msg #352768

Head dog at the title company

asked me to sign it and fax it back and then send in the original. The lender was pushing him to push me to sign.

Reply by Lee/AR on 9/15/10 12:00pm
Msg #352770

Re: Head dog at the title company

Something smells about that.

Reply by OR on 9/15/10 12:54pm
Msg #352772

Re: Head dog at the title company

Marilyn I agree with you I would not sign it either.

Reply by Pamela Hoyle on 9/15/10 10:30pm
Msg #352841

Similar thing with a 'good' title co. wanting my sig on the HUD as having prepared it, etc...it was correct to the best of my knowledge.....I did NOT prepare it. And how the heck would I know what the payoff is, much less all the other stuff? Title wants me to sign it "as their representative." Humph!