Posted by leeinla on 12/19/12 8:12pm
Msg #447149

Quicken Loans- Title Source (CA)- Borrowers Copies

Just spoke with the borrower and she stated that she does not have a copy of the loan docs only the settlement statement. Is it federal law (RESPA) or CA law that the borrower suppose to get a copy of the loan docs prior to signing appointment. Usually Title Source emails a copy of the docs to the borrower to review prior to the appointment. I could be wrong, but why did she just get the settlement statement from Title Source.

Regards,

L.

Reply by Yoli/CA on 12/19/12 8:58pm
Msg #447151

To my knowledge, there is no legal requirement for borrowers to get copy of loan docs prior to signing appointment.

It's nice when they do get 'em ahead of signing. Then, if they have any questions/problems with docs, they can address them to LO before appointment and hopefully save everyone some time.

Reply by ToniK on 12/19/12 9:08pm
Msg #447154

a copy of the full docs is not required but the GFE/TIL I think are. They get those.

Also Quicken usually sends them a link through email to view their docs. Its the BO responsibility to check it out. 98% of the time I come across, they are too busy to be bothered with that.

Reply by Jessica Ward on 12/19/12 9:28pm
Msg #447158

In my experience a link plus UPSed copies.

Usually the UPS copies arrive the same day or the next day. They may have to request this, but usually there's a nicely bound copy of quicken docs that arrive the same day or the next day. (I close lots of Quicken loans, and have a few relatives who have just refinanced with them as well).

Reply by leeinla on 12/19/12 11:47pm
Msg #447170

Re: In my experience a link plus UPSed copies.

Thanks everyone for your responses. Have a great Holiday Season and Happy New Year.

Regards,

Lee

Reply by CopperheadVA on 12/20/12 5:47am
Msg #447175

I have heard this from a few Quicken clients too. Not sure if it's true or if they just don't realize their loan package has been posted to their online account. Sometimes people say they received a hard copy via UPS or FedEx and show me the bound package - I never know which way it will be sent to borrower. I just do as instructed and bring one copy of docs to appointment for signing.

Reply by SharonMN on 12/20/12 3:41pm
Msg #447270

Re: Quicken Loans- Trading Cards?

On another note:
Twice this week I've gone to do a Quicken (docs to bwr), and in the package was not only the bwr. copy and a copy to sign, but a pack of trading cards. Anyone know what's up with that?

Reply by Donna McDaniel on 12/20/12 3:46pm
Msg #447272

Re: Quicken Loans- Trading Cards?

I believe Quicken owns a minor league baseball team. A little extra advertising, I assume.