Posted by HouTexJoe on 8/14/11 9:35am
Msg #393569

Docs for Borrower

If not specified in the instructions, would it be okay to print the borrower's docs on regular letter size paper? It would be more cost effective. I've never done it but have thought about it. Appreciate any thoughts on this.

Reply by Linda_H/FL on 8/14/11 9:48am
Msg #393570

It would, but you run into problems if a mistake is

made during the signing (such as they sign their name wrong or in the wrong place) and you need to pull a new original from their package...and mistakes DO happen...

Reply by MaggieMae_CA on 8/14/11 11:02am
Msg #393575

Always best to run the borrowers docs on the same size as specified by the lender, BUT I must admit that a couple of times when I was very low on legal size paper, I have printed the borrower's copies on letter size.

I've been tempted to do it more often to cut down on costs, but have decided it's not worth it in the off chance I find myself in a situation where the borrower has mis-signed or mis-dated the lender doc (on 8 x 14) and I don't have a 'spare' 8 x 14 to be resigned.

Reply by Art_MD on 8/14/11 11:06am
Msg #393576

Re: Docs for Borrower $$ calcs

Not worth the difference to chance needing to switch docs between packages.

If cost difference is $20 case legal vs letter.
cost difference is $.004/page
Assume 1/2 pages are legal and package is 120 pages....
60 x .004 = $0.24 per closing added paper cost.
Add 16 cents for extra ink, and you get a difference of 40 cents per closing.

Art

Reply by HouTexJoe on 8/14/11 4:00pm
Msg #393611

Re: Docs for Borrower $$ calcs

Thanks for the input. I didn't think it was a good idea.