Posted by Karla/OR on 12/8/12 2:27am
Msg #445880

HELP . . . need direction . . .

I am going on my 3rd signing appointment tomorrow with the same BO in hopes of getting the docs signed this time. At the first signing, the BO did not agree with the dollar figures on the HUD and signing was cancelled. At the 2nd signing, the interest rate was wrong, so again the signing was cancelled.

I just printed off the confirmation (sent today) from the SS who has noted the following:

"Please do not require Ms. B. to sign the HUD as Title would not change loan payoff without demand and payment posted today. Please use to show her the other fees, but a signature not funds are required at this time."

I am going to follow the directions given on the confirmation, but would still like to know your opinions on this. Thumbs up or thumbs down (in particular on not signing the HUD)??????

Thanks.

Reply by ReneeK_MI on 12/8/12 4:26am
Msg #445885

No problems ...

Apparently the borrower has paid the Dec 1st payment of her existing loan. From the sounds of her prior signings, she is either unlikely to sign a HUD or has already SAID she wouldn't sign a HUD that doesn't have the lien payoff reflecting this Dec 1st payment. T/C isn't willing to revise the payoff amount without a revised payoff letter from the lien-holder - many T/C's will not revise the amount based on 'verbal' confirmations or on-line postings of a payment. In those instances, one of two things can happen: 1) the payoff amount is left as stated on the official payoff letter (demand letter), and the amount being overpaid (due to the recent payment) will be refunded back to the borrower by the mtg co being paid, or 2) an updated payoff letter might be ordered/received before funding - and then the amount would be adjusted.

It helps to understand that payoff letters are rarely issued in any kind of timely fashion (think a week or more, not days), and many lenders charge $50 odd dollars for EACH payoff letter.

This is a common HUD 'issue' and in fact I had one of these yesterday - once I explained it all to the borrower, he was fine about it. It's a headache - L/O's can't tell someone NOT to pay their mtg payment after the payoff letter is received, and many people are terrified to delay a pymt into the grace period (to avoid this headache).

As for not needing to sign the HUD, there' no legal issue (RESPA does not require signatures on the HUD, nor does RESPA disallow corrections or revisions to be made post-close).

Reply by Karla/OR on 12/8/12 5:10am
Msg #445887

Re: No problems ...

Thanks Renee.

First, I wish I could do a "Copy" routine to put the info you have in your brain into mine! :O) Since we know I can't, your explanation will certainly be very useful. There is no simple way to explain that to this BO - she has been a university professor for 30years and is quite peculiar - for one, she sits there staring at the page of a multi-page doc and waits for ME to turn to the next page for her! She has several cats that also distract her from signing. Last signing she was washing/drying dishes while making us coffee, attending to her fire in the fireplace, disappeared downstairs to see if she had a response on her computer, could not find her purse to produce her I.D. . . . I could go on and on. This time I am going to tell her I have another appointment after hers and need to get 'er done! I do feel for her, she seems like a lonely woman. How sad is that.

Would you have a problem if I copied what you posted and took it with me to the signing? I will first explain to her what is on the confirmation - if she still doesn't get it, I can use your explanation (of course your name would not be on it) to see if that helps her to move forward.

Thanks again!

Reply by Ray Hartley on 12/8/12 6:13am
Msg #445894

Re: No problems ...

what you got is a narsistic, omnipodent client. Take control or walk I say. You are there to help not be walked on..

Reply by Karla/OR on 12/8/12 12:07pm
Msg #445920

Re: No problems ...

I agree Ray. In my mind, some people are more delicate (for lack of a better word) than others and need to be treated with kid gloves - she is one of those. I will stick with her until she gets it done today (within reason of course) - don't want to have to get the call on the 4th re-schedule of this re-fi!!! I actually thought about turning down this one but got soft and changed my mind.

Reply by ReneeK_MI on 12/8/12 6:33am
Msg #445896

Re: No problems ...

I put my name on everything I write here - and it's a public forum. You are more than welcome to use anything I write, and I'm always happy to see someone who isn't a 'just a notary' signing agent and isn't falling for the whole 'that's UPL' brand of duct-tape.

Nothing I wrote interpreted any law, any consequence of any law, or was worded under the guise of legal advice. I wish it were UPL to call something UPL that is not UPL.

I do agree that you've got a borrower with a quirky personality to deal with - but that's what keeps our jobs interesting. She may have waited for you to turn the page because she felt that it was a way of GIVING you control. I see people do this a lot - I hand out one doc at a time, and they sometimes will give it back to me instead of flipping it onto the 'done' pile - they're not certain what you want them to do, and they want you to make sure it's done properly.

Reply by Karla/OR on 12/8/12 12:08pm
Msg #445921

Thanks Renee! Good insight! n/m

Reply by Ray Hartley on 12/8/12 6:09am
Msg #445893

Re: No problems ...

Sometimes people wanna be attorneys and get themselves in trouble..

Reply by Ray Hartley on 12/8/12 6:05am
Msg #445890

You are fogetting that you are merely a notary, NOT A CLOSING OR SETTLEMENT AGENT. REMIND YOUR company of that..and don't sweat their problems... The HUD don't call for a notary..so yippie kye ohhhhhhhhh.

Reply by Karla/OR on 12/8/12 5:21pm
Msg #445937

UPDATE: the signing went great! The LO had already explained to her about not signing the HUD - so not an issue! She was ready to sign this time - even turned her own pages! She did leave a few times to manager the fire in her fireplace but was quickly back to sign again. The BO and I are now wondering if we will have one more signing appointment to sign the FINAL HUD and to collect a check from her??????????

Thanks again, Renee and Ray, for your posts!